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Economy, Law & Politics

GST break would cost Ottawa $2.7B if provinces with HST asked for compensation

GST break would cost Ottawa $2.7B if provinces with HST asked for compensation

OTTAWA — The federal government's GST holiday would cost as much as $2.7 billion if provinces with a harmonized sales tax asked for compensation, the parliamentary budget officer said on Monday.
BoC expected to lower interest rates again, with odds leaning toward larger cut

BoC expected to lower interest rates again, with odds leaning toward larger cut

OTTAWA — Financial markets and forecasters are betting on another jumbo interest rate cut from the Bank of Canada on Wednesday, which would bring its key rate down to 3.25 per cent.
Finance minister says government's fiscal update coming Dec. 16

Finance minister says government's fiscal update coming Dec. 16

OTTAWA — Finance Minister Chrystia Freeland will publish the government's fall economic statement on Dec. 16, just before members of Parliament are expected to head home for the holidays.
Small Business BC files for bankruptcy

Small Business BC files for bankruptcy

The non-profit society provided grants and services to businesses in B.C., with funding from two levels of government
Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world in the coming week: Postal strike The strike by some 55,000 workers at Canada Post is in its fourth week.
As postal strike enters fourth week, pressure mounts for Ottawa to step in: experts

As postal strike enters fourth week, pressure mounts for Ottawa to step in: experts

As the Canada Post strike drags into a fourth week, experts say there's growing pressure on the government to act as the business community's calls for intervention get louder.
Tech stocks help lift S&P/TSX Friday, U.S. stock markets mixed after jobs report

Tech stocks help lift S&P/TSX Friday, U.S. stock markets mixed after jobs report

TORONTO — Canada's main stock index eked out a gain Friday as a rise in tech stocks helped outweigh losses in energy, while U.S. markets were mixed after employment reports on both sides of the border. The S&P/TSX composite index closed up 11.
Stock market today: Wall Street hits more records following a just-right jobs report

Stock market today: Wall Street hits more records following a just-right jobs report

NEW YORK (AP) — U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.
Lower immigration will slow economic growth, but won't cause recession: report

Lower immigration will slow economic growth, but won't cause recession: report

TORONTO — A new report suggests the federal government's rapidly reduced immigration targets will significantly slow economic growth, but not enough to trigger a recession.
Purolator, UPS pause shipments from couriers amid delivery backlog

Purolator, UPS pause shipments from couriers amid delivery backlog

Purolator and UPS have paused shipments from some courier companies as they try to work through a deluge of deliveries brought on by the Canada Post strike, creating even bigger backlogs at the height of the holiday shipping season.