September 18th, 2021

Business

RESP a useful savings tool for your child’s education — if you can afford it: Experts

By Brett Bundale, The Canadian Press on September 16th, 2021

HALIFAX – When Jacob Ritchie and his wife Krista first had kids, setting money aside for their children’s post-secondary education seemed like a luxury they couldn’t afford. The engineer and professor were still early in their careers – and paying off their own student loans. “We were at the point where every dollar mattered,” he ... Read More »

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Calgary Chamber of Commerce wants more clarity around Alberta COVID-19 restrictions

By The Canadian Press on September 16th, 2021

Calgary Chamber of Commerce is praising the Alberta government’s decision to launch a new program to to fight against COVID-19, but says more clarity around the initiative is needed. The chamber says the restriction exemption program giving businesses a choice to require proof of vaccination in lieu of more stringent restrictions is a critical step ... Read More »

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Nova Scotia registers $341.6-million deficit for last year driven by COVID-19 costs

By The Canadian Press on September 16th, 2021

HALIFAX – Nova Scotia has closed the books on the 2020-21 fiscal year, registering a pandemic-driven deficit of $341.6 million. The figure represents a $396.6-million drop from the $55-million surplus forecast in the budget tabled in February 2020, just before COVID-19 hit. Finance Minister Allan MacMaster says the province responded to the pandemic with close ... Read More »

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S&P/TSX composite posts triple-digit decline, U.S. stock markets also tumble

By The Canadian Press on September 16th, 2021

TORONTO – Losses in the base metals sector helped lead the way lower in late-morning trading on the Toronto Stock Exchange as Canada’s main stock index posted a triple-digit decline, while U.S. stock markets also fell. The S&P/TSX composite index was down 107.41 points at 20,586.38. In New York, the Dow Jones industrial average was ... Read More »

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Globe and Mail newspaper and union representing 250 employees reach tentative deal

By The Canadian Press on September 16th, 2021

TORONTO – The Globe and Mail and a union representing some 250 employees have reached a tentative deal on a new collective agreement. Unifor Local 87-M says workers in editorial, advertising and operations were to vote today on whether to ratify the pact with the national newspaper. Paul Morse, local president, says the union will ... Read More »

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Nova Scotia registers $341.6 million deficit for last year driven by COVID-19 costs

By The Canadian Press on September 16th, 2021

HALIFAX – Nova Scotia has closed the books on the 2020-21 fiscal year, registering a pandemic-driven deficit of $341.6 million. The figure represents a $396.6-million drop from the $55-million surplus forecast in the budget tabled in February 2020, just before COVID-19 hit. Finance Minister Allan MacMaster says the province responded to the pandemic with close ... Read More »

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CP lays out timeline for KCS merger; shareholders to vote in December

By The Canadian Press on September 16th, 2021

CALGARY – Canadian Pacific Railway Ltd. says it hopes to complete its acquisition of Kansas City Southern by October or November of next year. CP Rail announced Wednesday it has reached a deal to acquire KCS for approximately US$31 billion. The announcement came the same day Canadian National Railway Co. said it is dropping its ... Read More »

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Statistics Canada says wholesale sales dropped in July as lumber prices fell

By The Canadian Press on September 16th, 2021

OTTAWA – Statistics Canada says wholesale sales fell 2.1 per cent to $70.1 billion in July, as building material and supplies sales plunged due to a drop in prices for softwood lumber. The agency says it was the second consecutive overall decline and the largest drop since April 2020. The move lower came as sales ... Read More »

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Canada Mortgage and Housing Corp. says annual pace of housing starts slowed in August

By The Canadian Press on September 16th, 2021

OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in August slowed compared with July as the rate of new home construction continued to slow from their highs earlier this year. The housing agency says the seasonally adjusted annual rate of housing starts was 260,239 units in August, down from ... Read More »

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US unemployment claims rise after hitting pandemic low

By Christopher Rugaber, The Associated Press on September 16th, 2021

WASHINGTON (AP) – The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID infections may have slightly increased layoffs. Applications for jobless aid rose from 312,000 the week before, the Labor Department said Thursday. Jobless claims, which generally track the pace of layoffs, ... Read More »

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