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Long-time Bay Streeter Bill Morneau brings rich experience to Canada’s top finance post


OTTAWA — When it comes to finance ministers, Canada’s new budget czar is no small potatoes. A millionaire many times over, Bill Morneau — until now a hugely successful businessman and adviser to people in high places — is, by all accounts, a very smart guy, who is also married …

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A CEO, but not exactly a Bay Street guy: Bill Morneau’s path to becoming Canada’s finance minister


TORONTO • In their 2013 book The Real Retirement, authors Bill Morneau and Fred Vettese muse about changes in our view of what it means to be poor. “One of the authors of this book,” they write, “was raised in Toronto and enjoyed a happy and healthy childhood. There is little …

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Finance Minister Bill Morneau says tax changes to take $1.2 billion more out of coffers


OTTAWA — The Liberal government is poised to make good on its promise to cut federal income taxes for middle earners by raising the rate on the richest Canadians — cuts that the government admits won’t be revenue-neutral. Finance Minister Bill Morneau is conceding for the first time that the …

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Finance Minister Bill Morneau says fiscal responsibility, new advisory council will help kickstart economy


TORONTO – Canada’s new finance minister Bill Morneau gave his first public speech Monday, outlining how his government plans to kickstart a sluggish Canadian economy. Speaking to business professionals at a Toronto Region Board of Trade luncheon, Morneau focused on what has become a new Liberal talking point: moving away …

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Congress passes U.S. spending bill to end 40-year-old oil export ban


Congress passed a US$1.1-trillion spending measure that averts a U.S. government shutdown and ends a 40-year-old ban on crude oil exports, a plan that ensures fiscal peace in Congress through most of 2016. The Senate passed the bill 65-33 on Friday, shortly after a 316-113 House vote. The legislation, which …

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Bill Ackman says he made ‘very costly’ mistakes in 2015 that led to the deepest loss in Pershing Square’s history


BOSTON — Sitting on a double-digit loss that is the deepest in his firm’s history, billionaire investor Bill Ackman on Tuesday told investors that he made mistakes last year in not cutting two big positions but said he sees plenty of new investment opportunities. Ackman, whose Pershing Square Capital Management …

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Finance Minister Bill Morneau to present federal budget week of March 21: sources


OTTAWA — Canada’s new Liberal government is set to unveil its first budget in the week of March 21, two sources with knowledge of the process said on Tuesday. The budget, which the Liberals have pledged will include major new spending aimed at boosting a flagging economy, is most likely …

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William Watson: The bill we’ll all pay for Bombardier’s latest bailout


News reports say the federal government is getting to crunch time on whether to lend or give – which is not clear yet – $1 billion to Bombardier Inc., which is having trouble selling its new C-series aircraft. This would be the latest in a long line of federal cheques made out to the …

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Bill Morneau to push long-term growth, middle-class tax cuts to G20 peers


OTTAWA — Finance Minister Bill Morneau will use this week’s meeting of industrial nations to promote Canada’s economic blueprint as a possible path for improving growth and financial stability in other member countries. Morneau will join his G20 counterparts on the global stage during a two-day summit beginning Friday in …

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Bill Morneau names Dominic Barton, head of McKinsey & Co., to government’s economic advisory council


Dominic Barton, the new head of the Liberal government’s economic advisory council, honed his leadership expertise in Asia and his appointment Monday offers clues about the economic direction the government could be taking in the coming years. Barton is the head of global consulting giant McKinsey & Co., a famously …

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