Daily News

Source: Bankofcanada June 05, 2024

Monetary Policy Decision Press Conference Opening Statement

Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement. Governing Council decided monetary policy no longer needs to be as restrictive a...

Source: Bankofcanada June 05, 2024

Bank of Canada reduces policy rate by 25 basis points

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. The g...

Source: Financialpost June 05, 2024

Gwyn Morgan: Ottawa's EV mandate is in trouble and that's a good thing

All the new electrical generation and metal mining required means EVs don't have a hope of getting up to speed in the 11 years leftThe federal government has mandated that all new light duty vehicles be electric by 2035. Achieving that goal would require vas...

Source: Financialpost June 05, 2024

Posthaste: Hoping Bank of Canada rate cut will spark housing boom? — don't hold your breath

Recovery, especially in home building, will take time, warn economists We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Hoping Bank of Canada rate cut will spark hous...

Source: Financialpost June 05, 2024

More and more people are discovering they are 'rich' in the eyes of Liberals

Kim Moody: The capital gains inclusion rate increase impacts much more than the richReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. I...

Source: Financialpost June 05, 2024

Howard Levitt: The rise of the productivity killer known as 'quiet vacationing'

This section is Presented This section was produced by the editorial department. The client was not given the opportunity to put restrictions on the content or review it prior to publication. by Workday Workday From extending lunch breaks to cl...

Source: BNN Bloomberg June 04, 2024

GameStop shares double as Gill post shows US$116 million bet

GameStop Corp. shares more than doubled after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a US$116 million position in the game retailer. The June 2 screenshot by Keith Gill, who goes by DeepF— Value on Reddit, sho...

Source: BNN Bloomberg June 04, 2024

Canada's biggest province expects to land another EV battery plant

Ontario expects to land another major electric vehicle battery plant, its economy minister said, as Canada’s most populous province tries to capitalize on what it views as a short-lived opportunity to secure the future of its auto sector. It has already lu...

Canada Source: BNN Bloomberg June 04, 2024

Air Canada expands service to India, to offer non-stop flights from Toronto to Mumbai

Air Canada says it is ramping up flights to India this year including new non-stop service from Toronto to Mumbai. The airline says the flights between Toronto and Mumbai will run four times a week starting Oct. 27. At the same time, Air Canada says it...

Source: BNN Bloomberg June 04, 2024

Markets today: Stocks fall and bonds rise amid weak manufacturing

(Bloomberg) -- Bonds climbed after as a weak manufacturing reading fueled speculation the U.S. Federal Reserve will have room to cut interest rates this year. Stocks fluctuated as a rise in tech outweighed a plunge in energy producers. Longer-dated Treasur...