Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 fell 1.8 per cent on Friday for its first back-to-back loss of at least one per cent since April. The Dow Jones industrial average lost 1.5 per cent, and the Nasdaq composite … Read more
Premier Li Qiang called on China to explore and introduce incremental policies that are “tangible, effective and accessible to both the public and businesses”, as increasing external headwinds and prolonged weak domestic demand are creating challenges to the annual economic growth target. Analysts said Beijing was likely to opt for an expanding fiscal policy for … Read more
Quebec is extending its partnership with Airbus Canada until 2035, the two jointly investing $1.65 billion to keep manufacturing its narrowbody A220 planes in the province. The French aerospace giant holds 75 per cent of Airbus Canada’s shares while Quebec holds the other 25 per cent. Airbus is set to invest $1.2 billion, and Quebec … Read more
For months, the Bank of Canada has been trying to thread a needle: slow the economy just enough to get inflation back under control but not so much that it causes a recession. In a report released this week, the central bank offered up plenty of evidence that its strategy is working. Inflation has eased, economic growth has … Read more
The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank’s governor, Tiff Macklem, told MPs Thursday. “We do see renewed downward momentum in underlying inflation. The message to Canadians is, we are getting closer. We are seeing what we need to … Read more
The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning toward eventual reductions in borrowing costs, but that cuts could be delayed as recent inflation numbers have strayed further from its two per cent target. Indeed, Fed Chair Jerome Powell said it was likely to take longer than previously expected for Fed officials … Read more
Nathaniel Erskine-Smith, the Liberal MP who made a name for himself as a backbencher with his own voice, posted a nine-minute video to YouTube this week about the federal government’s carbon pricing policy. It would be an exaggeration to say the video is setting the internet on fire. As of Friday afternoon, it had a … Read more
Nearly nine million Canadians lived in food insecure households in 2022, with 22.9 per cent of the population reporting some form of food insecurity, according to a Statistics Canada report released Friday. The data agency wrote in its annual Canadian Income Survey that 8.7 million people lived in households that reported some kind of food insecurity. … Read more
Former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has arrived at the Lagos State High Court, Ikeja, on Monday in his ongoing trial by the Economic and Financial Crimes Commission (EFCC). He is being arraigned before Justice Rahman Oshodi for abuse of office bordering on alleged irregular allocation of billions of US … Read more
The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy. The central bank on Monday released its business outlook and consumer expectations surveys, which showed increased optimism as people expect interest rate cuts are nearing. Although firms … Read more
