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Tag Archives: Canada

A Bank of Canada interest rate hike is ‘miles’ away as consumers appear unenthusiastic about spending

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Canadian households are making a bland contribution to an economic recovery battered by slumping crude oil prices, keeping the central bank stuck as the U.S. moves toward raising interest rates. Liberals say Canada is billions deeper in the hole as they open the books for first time The new government …

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Canada’s banks are cutting costs, but the real hurricane hasn’t hit yet

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Executives at Canada’s largest banks have been stuck on repeat, telling investors about their efforts to cut and control costs. Starting a week Tuesday, this chorus “will reach a crescendo” when the banks report earnings for the last time this fiscal year, analysts at Scotia Capital said in a note. Canadian banks report next week and here’s …

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Sears Canada Inc faces another $100-million class action lawsuit from its dealers

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TORONTO • Sears Hometown store dealers have filed a second $100-million class action suit against Sears Canada Inc., its biggest shareholders and board of directors, alleging they approved hundreds of millions of dollars in special dividends in 2013 that would only benefit the big shareholders. Sears Canada decided to liquidate …

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Canada’s investment dealers urged to make detailed plans to respond to cyber attacks

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Canada’s investment industry association is urging dealers to make detailed plans at the most senior levels to prepare for and respond to cyber attacks. “The cyber threat is far too sophisticated and serious to relegate it simply to the firm’s IT department,” Ian Russell, chief executive of the Investment Industry …

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Bank of Canada keeps key rate at 1/2 per cent as economy faces ‘complex and lengthy adjustment’

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OTTAWA — Despite some obvious rough patches in the economy, the Bank of Canada appears content to ride over them for the next few months — and perhaps a lot longer. Governor Stephen Poloz and his policy team reinforced that view on Wednesday, choosing to keep their trendsetting interest rate …

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Stephen Harper’s cuts help Canada buck global post-recession trend toward higher taxes

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Tax cuts were the mainstay of Stephen Harper’s tenure as Canada’s prime minister before his defeat to Justin Trudeau in October, with his Conservative government brushing off the impact of the global recession to curb federal tax revenue to the lowest since before the Second World War as a share …

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Sears Canada says online business in need of major overhaul

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TORONTO – With Internet retail sales expected to hit new highs over the Christmas period, Sears Canada’s executive chairman admits the department store’s Sears.ca online business is in need of a major overhaul. “We have some very, very, very big plans to modernize what we do — both online and …

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Bank of Canada willing to resort to below-zero interest rate in face of major economic crisis, Poloz says

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TORONTO — The Bank of Canada would be willing to cut its benchmark interest rate to below zero per cent if the country is faced with a major economic shock, says Stephen Poloz, governor of the Bank of Canada. People in Sweden are hiding cash in their microwaves because of …

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Canada’s top 10 pension funds tripled in size since 2003, with assets worth over $1.1 trillion: study

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TORONTO — Canada’s biggest 10 public pension funds now manage assets worth more than $1.1 trillion, having tripled in size since 2003, according to a study published by the Boston Consulting Group on Thursday. The funds have expanded rapidly in recent years, pursuing a strategy of directly investing in assets …

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Canada’s challenge is how to make money selling the world’s cheapest oil — but it can be done

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CALGARY — Rock bottom oil prices could be the single biggest challenge facing Canada’s economy in 2016. Never mind $35 a barrel, Canada’s oil is selling for closer to $20 As oil crashes through $35 in New York today, Alberta, which produces the world’s cheapest oil at the highest cost, …

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