Fed keeps key rate unchanged while signalling future hikes

The Federal Reserve on Wednesday left its benchmark interest rate unchanged while signalling further gradual rate hikes in the months ahead as long as the U.S. economy stays healthy. The Fed’s widely expected decision left the central bank’s key short-term rate at 1.75 per cent to 2 per cent— the level hit in June when […]

What governments spend on refugees is less important than how they spend it

As cities, provinces and Ottawa squabble over who will pick up the tab for the latest influx of refugees, it’s worth taking a look at what the bill really is and why. Ontario’s government is demanding Ottawa dispatch $200 million to the province to pay for the costs associated with asylum seekers illegally crossing into the […]

Trump ready to hit all Chinese imports with tariffs

President Donald Trump has indicated that he’s willing to hit every product imported from China with tariffs and again criticized the Federal Reserve, as well as some of the nation’s biggest trading partners. The comments sent U.S. markets sliding early Friday, but they later moved higher. In a taped interview with the business channel CNBC, […]

Ford recalls 550,000 vehicles that can roll away unexpectedly

Ford is recalling about 550,000 cars and SUVs in North America to fix a gearshift problem that could cause the vehicles to roll away unexpectedly. The recall covers certain 2013 through 2016 Fusion sedans and some 2013 and 2014 Escape small SUVs. Ford says a bushing that attaches the shifter cable to the transmission can […]

Doug Ford’s government strikes deal with Hydro One to force out CEO, board

Hydro One’s CEO is retiring as part of an agreement between the Ontario government and the utility company that will also see the replacement of the entire board.  Premier Doug Ford vowed to fire Mayo Schmidt during the campaign, repeatedly calling him ex-premier Kathleen Wynne’s $6-million man for his annual salary and bonuses. Hydro One announced Schmidt’s […]

U.S. auto tariffs could cut Canada’s car output by nearly 1 million, CIBC says

The number of cars made in Canada could fall by almost 900,000 units a year if the U.S. hits this country with a 25 per cent auto tariff, according to a recent report by CIBC. Royce Mendes, senior economist at CIBC Capital Markets, is the latest analyst to sound the alarm over the impact that Canada’s economy could […]

Loonie sags as Poloz says he’s ready to help out with tariff fight: Don Pittis

Stephen Poloz may have set himself an impossible task. In a speech yesterday to the Chamber of Commerce in Victoria, the Bank of Canada governor promised transparency, but minutes after he had finished speaking analysts were still scratching their heads. The speech was headlined Let Me Be Clear, and in it the governor promised the bank would […]

Great-West Life websites hit with outage after IT upgrade

Various Great-West Life websites have been offline for several days following what the company calls a routine IT upgrade, but the workplace benefits giant says it has not been the victim of a hack, and customers are able to file claims as normal.  The Winnipeg-based company says “the unexpected shutdown” of several of its web-based […]

Canopy Growth posts quarterly loss as era of legal marijuana nears

Canopy Growth Corp. reported a fourth-quarter loss of $61.5 million as it prepared for the launch of the legal Canadian recreational cannabis market later this year. The loss amounted to 31 cents per share for the quarter ended March 31 compared with a loss of $12 million or eight cents per share a year ago. […]