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Tag Archives: global

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


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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Iran to pump 500,000 barrels more a day into the global glut as oil sinks below $28


Oil prices reached a 2003 low below US$28 per barrel on Monday as the market braced for a rise in Iranian exports after the lifting of sanctions against Tehran over the weekend. The United States revoked sanctions that had cut Iran’s oil exports by about 2 million barrels per day …

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The global oil glut is going to get worse — and it will be all Canada’s fault


Some of the world’s most expensive crude lies trapped inside Canada’s oilsands. But the lingering legacy of US$100 barrels means the nation is destined to exacerbate, rather than alleviate, the global crude glut over the next two years. Forget the glut, even market insiders are saying oil trading has moved to crazy …

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The global bond market rally is so crazy it’s starting to look like panic


Sovereign bonds surged, sending the Japanese benchmark 10-year yield below zero for the first time, as investors seeking the safest assets gorged on government debt. Treasury yields dropped to a one-year low and those on short-dated German securities dropped to records in the rush to refuge from a worldwide stock …

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Fed not likely to reverse course on rates despite growing global risks, Janet Yellen tells Congress


WASHINGTON — Tightening financial conditions and uncertainty over China pose risks to the U.S. recovery, but chances are slim the Federal Reserve would need to reverse the rate tightening cycle it began in December, Fed Chair Janet Yellen told U.S. lawmakers on Wednesday. Global risks have intensified and could slow …

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Lawrence Solomon: It’s ‘game over’ for global warming activists


Environmentalists’ faint hope that they can get international action on climate change gets fainter by the day. This week the United States Supreme Court added to their despair by kiboshing President Obama’s pledge, at December’s climate talks in Paris, to lead the world on climate change. “This could be the …

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U.S. Federal Reserve worried by impact of global turmoil on economy, minutes show


WASHINGTON — Federal Reserve policymakers expressed growing concerns at their meeting last month about potential threats to the U.S. economy, including turbulence in financial markets, plunging oil prices and slowing growth in China and other emerging markets. Minutes of their discussions released Wednesday showed Fed officials acknowledging that the developments …

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‘Good progress,’ but few details on how to strengthen global economy as G20 summit concludes


OTTAWA — Canada’s finance minister says he is encouraged by “very positive feedback” from his Group of 20 peers to the Liberal government’s economic blueprint outlined during a two-day summit in Shanghai. But while Bill Morneau said the gathering of industrialized nations — coming at a time of growing concerns over the …

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