New housing minister says closing door on newcomers is no solution to housing crunch
By Nojoud Al Mallees, The Canadian Press on July 26th, 2023
OTTAWA – Canada’s new housing and infrastructure minister says closing the door to newcomers is not the solution to the country’s housing woes, and has instead endorsed building more homes to accommodate higher immigration flows. Sean Fraser, who previously served as immigration minister, was sworn in Wednesday morning as part of a Liberal government cabinet ... Read More »
Be the first to comment!‘Huge kettle of fish’ faces new transport minister Pablo Rodriguez
By Christopher Reynolds, The Canadian Press on July 26th, 2023
Pablo Rodriguez has been sworn in as Canada’s new transport minister, taking the baton on a raft of turbulent issues as the aviation sector emerges from a period of crisis. Leaving his spot atop the Heritage Department, Rodriguez takes over from Omar Alghabra, who assumed the cabinet post in January 2021 while the pandemic pummelled ... Read More »
Be the first to comment!Stock market today: Wall Street remains mixed after Fed raises interest rates
By Stan Choe, The Associated Press on July 26th, 2023
NEW YORK (AP) – Stocks remain mixed Wednesday after the Federal Reserve followed through on Wall Street’s expectations and raised interest rates to their highest level in more than two decades. The S&P 500 was 0.1% lower in afternoon trading, not far from where it was before the Fed announced what traders hope will be ... Read More »
Be the first to comment!Sun Life to acquire victual care provider Dialogue Health Technologies
By The Canadian Press on July 26th, 2023
TORONTO – Sun Life Financial Inc. has reached a deal to acquire virtual care provider Dialogue for about $277 million. The insurer says it has entered into an agreement with Montreal-based Dialogue to indirectly acquire all of its outstanding common shares that it doesn’t already own for $5.15 each, with Dialogue’s executive management maintaining a ... Read More »
Be the first to comment!Federal Reserve raises its key rate for 11th time by a quarter-point in its drive to slow inflation
By Christopher Rugaber, The Associated Press on July 26th, 2023
WASHINGTON (AP) – The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation but that also carry the risk of going too far and triggering a recession. The move lifted the Fed’s benchmark short-term rate from roughly 5.1% to ... Read More »
Be the first to comment!BoC mindful of not overdoing rate hikes, summary of deliberations reveals
By Nojoud Al Mallees, The Canadian Press on July 26th, 2023
OTTAWA – The Bank of Canada says it’s trying to not raise interest rates more than it has to, as members of the governing council are mindful of the risks associated with raising rates too much. The central bank released its summary of deliberations Wednesday, providing insight into its decision to raise interest rates again ... Read More »
Be the first to comment!Niger’s presidential guard surrounds leader’s home in what African organizations call a coup attempt
By Sam Mednick, The Associated Press on July 26th, 2023
NIAMEY, Niger (AP) – Members of Niger’s presidential guard surrounded the presidential palace Wednesday in what African organizations called an attempted coup against the country’s democratically elected leader. The U.S. said the rebelling soldiers had detained President Mohamed Bazoum. A tweet from the account of Niger’s presidency reported that members of the elite guard unit ... Read More »
Be the first to comment!Big global brands drove supplier prices higher in second quarter: Loblaw
By The Canadian Press on July 26th, 2023
BRAMPTON, Ont. – Large global suppliers are driving costs higher for Loblaw Companies Ltd., the firm said as it released earnings for the second quarter, reporting increased sales and lower gross margins. “We have received double-digit increases from the same suppliers who gave us double-digit increases last year. That’s why you see products that are ... Read More »
Be the first to comment!African leaders condemn coup attempt against Niger’s president after his home is surrounded
By Sam Mednick, The Associated Press on July 26th, 2023
NIAMEY, Niger (AP) – Governing bodies in Africa condemned what they characterized as a coup attempt Wednesday against Niger’s president, whose official Twitter account reported that elements of the presidential guard engaged in an “anti-Republican demonstration” and tried to obtain the support of other security forces. The tweet from the administration of President Mohamed Bazoum ... Read More »
Be the first to comment!Advocacy group says banks show little progress on climate action
By The Canadian Press on July 26th, 2023
TORONTO – A new report from an advocacy group says that Canada’s big banks show “no urgency” in ramping up action against climate change. The report by Investors for Paris Compliance, which ranks the climate efforts of banks, finds little progress from its initial assessment out in 2022. Canada’s Big Six have all committed to ... Read More »
Be the first to comment!S&P/TSX composite ticks up in late-morning trading Wednesday, U.S. markets mixed
By The Canadian Press on July 26th, 2023
TORONTO – Canada’s main stock index ticked up in late-morning trading as broad gains outweighed a pullback in technology stocks, while U.S. markets were mixed. The S&P/TSX composite index was up 19.33 points at 20,570.86. In New York, the Dow Jones industrial average was up 20.53 points at 35,458.60. The S&P 500 index was down ... Read More »
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