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Tag Archives: growth

Canada’s jobs growth smashes expectations — and it wasn’t all the election


OTTAWA — More than 44,000 jobs were added overall to Canada’s economy in October, following meagre hiring in the previous four months, and enough to push the unemployment rate slightly lower. But that was enough to push the country’s total employment level above 18 million for the first time. Some …

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Mortgage growth expected to slow as Canadian banks assume more risk


It’s going to get more expensive for Canadian banks to do business in the country’s housing market as the government seeks to limit its exposure to surging home prices and the risk of default. The Office of the Superintendent of Financial Institutions, which oversees federal banks and insurers, is seeking …

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Brace for another year of slow growth and loonie below 70 cents, Canada’s top forecasters warn


TORONTO — Canada is headed for a rocky year as low oil prices continue to drag on economic performance, the chief economists of some of Canada’s biggest banks said Tuesday. Bank of Montreal chief economist Douglas Porter told a morning gathering of leading economists that it’s going to be a …

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CIBC analysts reduce bank growth forecasts as oil, economy drag


Low oil prices and continuing economic malaise are going to weigh on bank earnings more than expected, causing analysts at Canadian Imperial Bank of Commerce to reduce profit estimates. “We have bent our earnings estimates lower through our forecast period, with a more pronounced impact later in the year and …

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U.S. economic growth brakes sharply, rising only 0.7% as strong dollar weighs on exports


WASHINGTON — U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 per cent annual rate, the Commerce Department said on Friday, also …

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The end of growth could mean the death of Davos Man


Now that the 45th Davos World Economic Forum is behind us for another year, the question is: Does Davos even matter anymore? Getting 2,500 top business and political leaders together each January in a resort in Switzerland isn’t a bad idea if they can give us outsiders an idea of …

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U.S. job growth slows, unemployment rate at 8-year low


WASHINGTON — U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but surging wages and an unemployment rate at an eight-year low suggested the labour market recovery remains firm. Nonfarm payrolls increased by 151,000 jobs last month and the unemployment …

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Wal-Mart abandons growth prediction as currency hampers foreign markets


Wal-Mart Stores Inc., the world’s largest retailer, lowered its annual sales forecast after the strong dollar pulled down the value of overseas revenue. The company now expects net sales growth to be flat this year, compared with a previous forecast for growth as high as 4 per cent, according to …

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Canadian oil production growth could come to ‘complete standstill,’ IEA warns


HOUSTON — Canadian oilsands growth is likely to come to a “standstill“ after the projects under construction come on stream as heightened environmental concerns, lack of pipeline access and policy changes slow investment, warned the International Energy Agency. As oilsands punished, tanker loads of cheap Saudi oil sail into Canadian …

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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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