Category: Politics

House intel chief says Facebook working on election threats

CanadianInvestor
House intel chief says Facebook working on election threats
WASHINGTON — The head of the House Intelligence Committee said Friday he has been assured by the CEO of Facebook that the company is working on ways to prevent foreign actors from disrupting next year’s elections. Rep. Adam Schiff of California met with Mark Zuckerberg and said the Facebook CEO showed a deep awareness of the threat to the elections... Read More

Toronto stock market hits record highs for fourth day of the week

Editor
Toronto stock market hits record highs for fourth day of the week
TORONTO — Canada’s main stock index reached record highs for a fourth day of the week to defy decreases in the U.S. over renewed trade concerns. The S&P/TSX composite index closed up 41.34 points at 16,899.69, after hitting an intraday record of 16,947.23 in earlier trading. In New York, the Dow Jones industrial average was down 159.72 points at 26,934.46. The... Read More

Bank of England holds rates amid acute Brexit uncertainties

CanadianInvestor
Bank of England holds rates amid acute Brexit uncertainties
LONDON — The Bank of England has kept its main interest rate unchanged at 0.75% as rate-setters await developments on the Brexit front. The nine members of the Monetary Policy Committee all voted in favour of keeping rates unchanged. In a statement Thursday, rate-setters said developments related to Britain’s departure from the European Union — due on Oct. 31 —... Read More

A divided Fed reduces rates but may not cut again this year

CanadianInvestor
A divided Fed reduces rates but may not cut again this year
WASHINGTON — A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year. The Fed’s move reduced its key short-term rate — which influences many consumer and business loans — by an additional quarter-point to a range of 1.75% to 2%. The... Read More

Iran tells US retaliation looms if targeted for Saudi attack

CanadianInvestor
Iran tells US retaliation looms if targeted for Saudi attack
TEHRAN, Iran — Iran has warned the U.S. it will retaliate “immediately” if Tehran is targeted over a weekend attack on Saudi oil installations, its state-run news agency reported Wednesday, further raising Mideast tensions. Iran’s president and foreign minister also may not be able to attend next week’s high-level meetings at the United Nations as the U.S. has yet to... Read More

EU chief: The risk of a no-deal Brexit ‘remains very real’

CanadianInvestor
EU chief: The risk of a no-deal Brexit ‘remains very real’
STRASBOURG, France — The risk of Britain leaving the European Union without a divorce deal remains “very real,” European Commission chief Jean-Claude Juncker declared Wednesday as EU lawmakers debated the ramifications of a no-deal Brexit. Speaking at the European Parliament in Strasbourg, France, Juncker, who met with British Prime Minister Boris Johnson on Monday, said a no-deal Brexit “might be... Read More

Federal government posts $14B shortfall in 2018-19

CanadianInvestor
Federal government posts $14B shortfall in 2018-19
OTTAWA — The federal government ran a $14-billion deficit in 2018-19, according to its latest annual financial report, the third year in a row with a shortfall bigger than $10 billion. The deficit for the fiscal year that ended March 31 was $900 million smaller than the government projected in last spring’s federal budget, however. Revenues in 2018-19 expanded by $21 billion — or 6.7 per cent... Read More

Unifor president says GM could face strike in Canada if trust is not restored

CanadianInvestor
Unifor president says GM could face strike in Canada if trust is not restored
TORONTO — The massive employee strike that hit General Motors in the U.S. on Monday could migrate to Canada next year if trust is not restored, said Unifor president Jerry Dias. “Canadian workers and American autoworkers feel the exact same way. They feel betrayed,” Dias said in a phone interview. The union head pointed to plant cutbacks and closures on both sides of... Read More

Ontario lowers its deficit from $11.7B to $7.4B, partly due to more tax revenue

CanadianInvestor
Ontario lowers its deficit from $11.7B to $7.4B, partly due to more tax revenue
TORONTO — Ontario’s deficit now stands at $7.4 billion, down from the $11.7 billion stated in the spring budget. The government says the 2018-19 deficit improved due to higher-than-expected tax revenues and lower spending. The deficit is still projected to be $10.3 billion in 2019-20. Expenses last year were lower than anticipated in education, children’s and social services and justice.... Read More

B.C. raked in $115 million in vacancy tax from about 12,000 homeowners

CanadianInvestor
B.C. raked in $115 million in vacancy tax from about 12,000 homeowners
VANCOUVER — British Columbia collected $115 million in the 2018-19 fiscal year from homeowners who paid the province’s speculation and vacancy tax. As of Sept. 3, the government said almost 12,000 homeowners were paying the tax targeting people who own vacant property in B.C., Finance Minister Carole James said Thursday. James said more than 1.6 million tax declarations were filed and Ministry... Read More