June 24th, 2018

Business

Major North American indices down after Fed indicates more rate hikes to come

By The Canadian Press on June 13th, 2018

TORONTO – Major North American indices fell after the Federal Reserve said it will raise interest rates this year more times than initially expected. The Toronto Stock Exchange’s S&P/TSX composite index fell 23.16 points to 16,265.82. In New York, the Dow Jones industrial average shed 119.53 points to 25,201.20. The S&P 500 index retreated by ... Read More »

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Freeland calls tariffs ‘absurd’ after meeting U.S. Senate committee

By The Canadian Press on June 13th, 2018

WASHINGTON – Foreign Affairs Minister Chrystia Freeland is in the heart of the U.S. Capitol, where she’s denouncing the Trump administration’s steel and aluminum tariffs as illegal and absurd. Freeland reiterated Canada’s opposition to the tariffs after a meeting this afternoon with the influential U.S. Senate foreign relations committee in Washington. She’s the first Canadian ... Read More »

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RBC and WestJet partner on new loyalty platform in bid to take on Aeroplan

By Tara Deschamps, The Canadian Press on June 13th, 2018

TORONTO – WestJet Airlines Ltd. is teaming up with the Royal Bank of Canada to create a new loyalty program that aims to attract a “very substantial” group of “very unhappy” customers from the Aeroplan program, which its rival Air Canada is preparing to replace in 2020. WestJet and RBC said Wednesday that they will ... Read More »

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Roots on track for the year despite being hampered in Q1 by winter storm: CEO

By Ross Marowits, The Canadian Press on June 13th, 2018

Canadian retailer Roots Corp. is on track to meet its forecasted growth for the year despite absorbing a hit from a winter storm in the first quarter of its fiscal year, its chief executive said Wednesday. “While sales in the quarter were good we believe they would have been even stronger had we not faced ... Read More »

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Nova Scotia extends deadline again to find buyer for former wind plant

By The Canadian Press on June 13th, 2018

HALIFAX – A deadline to find a buyer for one of Atlantic Canada’s largest industrial sites is likely being extended again by the Nova Scotia government. Business Minister Geoff MacLellan says that’s because two or three new parties have expressed an interest in the former DSME wind plant in Trenton in the last couple of ... Read More »

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Fed raises key rate, sees acceleration in future hikes

By Martin Crutsinger, The Canadian Press on June 13th, 2018

WASHINGTON – The Federal Reserve has raised its benchmark interest rate for the second time this year and signalled that it may step up its pace of rate increases because of solid economic growth and rising inflation. The Fed now foresees four rate hikes this year, up from the three it had previously forecast. The ... Read More »

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Freeland meets powerful Senate foreign relations committee in U.S. capital

By The Canadian Press on June 13th, 2018

WASHINGTON – Foreign Affairs Minister Chrystia Freeland is meeting with the influential U.S. Senate foreign relations committee in Washington and is expected to give a major foreign policy speech later today. She’s the first Canadian politician to set foot in Washington following the Trump administration’s personal attacks on Justin Trudeau this past weekend at the ... Read More »

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Welcome centre to open at mansion after long-running battle

By Jennifer McDermott, The Associated Press on June 13th, 2018

NEWPORT, R.I. – The group that owns The Breakers mansion in Rhode Island is opening a welcome centre that has drawn strenuous opposition from neighbours, preservationists and many descendants of the Vanderbilt family. The Preservation Society of Newport County is cutting the ribbon Thursday on the grounds of the National Historic Landmark in Newport. Railroad ... Read More »

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NewsAlert: U.S. Fed raises interest rate a quarter point, signals further raises ahead

By The Canadian Press on June 13th, 2018

The U.S. Federal Reserve has raised its short-term federal fund rate by 0.25 points to a range of 1.75 to 2 per cent. More coming... Read More »

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Alberta oilsands project wins regulator approval despite Indigenous objections

By The Canadian Press on June 13th, 2018

CALGARY – The Alberta Energy Regulator has approved a northern Alberta oilsands project over the objections of local Indigenous people who say it will encroach on sacred lands and poses a risk to their drinking water. In an announcement on its website, the AER says the 10,000-barrel-per-day steam-driven Rigel oilsands project proposed by Prosper Petroleum ... Read More »

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