Home sales are at record levels in Toronto and near record levels in Vancouver, despite a steep run-up in prices that is putting housing out of reach for many first-time buyers. The era of rock-bottom mortgage rates shows signs of ending, with bond yields on the rise and the U.S. set to raise its benchmark […]
toronto business
Fiscal update erases projected surplus, Canada government expects $3B budget deficit
The deteriorating economic picture means that the projections of last April are now about $6 billion per year lower, on average, for the next few years. That accounts for the projected $3-billion deficit in the current fiscal year and a larger $3.9-billion deficit next year, before eventually returning to surplus in 2019-2020. Part of that is […]
Hydro One IPO helps net more than expected $5B for Ontario
The Province of Ontario earned more than it expected from its recent initial public offering of Hydro One on stock markets, bringing the total financial gain to public coffers for monetizing the power utility to $5 billion — and counting. Hydro One said Thursday said the deal’s underwriters exercised their right to sell more shares […]
More Questions As New Trans-Pacific Partnership Details Emerge
Experts and newly seated government officials are combing through the fine print of the Trans-Pacific Partnership trade agreement — the full text of which was finally released Thursday, revealing almost two dozen side deals with other countries and provisions that have alarmed some privacy and trade advocates. Read the full text of the TPP agreement […]
Canada No Longer America’s Biggest Trading Partner
According to the latest numbers from the U.S. Census Bureau, in the first nine months of this year, the value of imports and exports between the U.S. and China was US$441.6 billion. The U.S.- Canada trade relationship, meanwhile, was worth slightly less, at $438.1 billion. But the reason behind the shift in numbers has […]
