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North American stock indexes finish week flat, Canadian dollar up

North American stock indexes finish week flat, Canadian dollar up
TORONTO — North American stock indexes finished the week on a flat note, as the loonie strengthened against the U.S. dollar. Rallying gold and materials stocks weren’t enough to lift Toronto’s S&P/TSX composite index out of the red, which slipped 0.69 of a point to 15,454.23. In New York, the Dow Jones industrial average gave back 9.64 points to 22,349.59,... Read More

Calgary and Saint John mayors urge NEB to reverse Energy East pipeline ruling

Calgary and Saint John mayors urge NEB to reverse Energy East pipeline ruling
CALGARY — Mayors from both ends of the proposed Energy East pipeline are calling for the National Energy Board to reverse its requirement that upstream and downstream emissions be included in its review of the $15.7-billion conduit. Saint John Mayor Don Darling, who said he was in Calgary to attend a wedding, paired up with Calgary Mayor Naheed Nenshi at... Read More

Rumours suggest changes coming to feds’ tax reform proposal: B.C. minister

Rumours suggest changes coming to feds’ tax reform proposal: B.C. minister
VANCOUVER — British Columbia’s finance minister says there are rumours the federal government will back off on parts of its proposed tax reforms for small business that have elicited anger across the country. Speaking to members of Vancouver’s board of trade, Carole James says she would be surprised if the Canadian government did not make changes in light of the... Read More

NAFTA talks in Canada could result in energy agreement with Mexico

NAFTA talks in Canada could result in energy agreement with Mexico
OTTAWA — An agreement that would see Mexico sign on to a NAFTA clause governing oil exports may be one of the first significant products of the renegotiation talks this weekend in Ottawa. When NAFTA was originally signed 23 years ago, Mexico rejected parts of the energy chapter because its oil industry was entirely owned and operated by the government.... Read More

Morneau draws criticism from business, concerns from premier in Nova Scotia

Morneau draws criticism from business, concerns from premier in Nova Scotia
HALIFAX — Finance Minister Bill Morneau is in Halifax today for his “listening tour” over Ottawa’s controversial tax proposals, drawing criticism from some small business owners and concerns from Nova Scotia’s Liberal premier. Morneau met with local small business owners at a library in downtown Halifax, where other small business owners met by a locked door wondered why they weren’t... Read More

Canadian firm applies to build $10-billion Jordan Cove LNG project in Oregon

Canadian firm applies to build $10-billion Jordan Cove LNG project in Oregon
CALGARY — The Canadian company whose proposal to build an LNG export terminal in Oregon was derailed by regulators last year has resubmitted its application for a bigger, more expensive project. Calgary-based Veresen Inc. (TSX:VSN) says its Jordan Cove project is now estimated to cost about US$10 billion to build, up from US$7.5 billion under its previous proposal, and it... Read More

Canada’s inflation rate continues to pick up its pace, reaches 1.4% in August

Canada’s inflation rate continues to pick up its pace, reaches 1.4% in August
OTTAWA — The country’s annual inflation rate continued to accelerate last month with a boost from higher costs for gasoline, hotels and airline tickets. The new inflation reading Friday of 1.4 per cent brought the data point closer to the Bank of Canada’s ideal target of two per cent and supported the bank’s predictions that recent softness was mostly temporary.... Read More

China criticizes S&P credit rating cut as ‘wrong decision’

China criticizes S&P credit rating cut as ‘wrong decision’
China’s Finance Ministry on Friday criticized the cut in the Standard & Poor’s rating agency’s credit rating on Chinese government borrowing as a “wrong decision” and said it ignores the country’s economic strength. S&P announced the change Thursday, citing rising debt it said increased financial risk. The move added to warnings China’s debt burden might drag on economic growth or... Read More

Solar boom or bust? Companies seek tariffs on solar imports

Solar boom or bust? Companies seek tariffs on solar imports
Cheap solar panels imported from China and other countries have led to a boom in the U.S. solar industry, where rooftop and other installations have surged 10-fold since 2011. But two U.S. solar manufacturers say the flood of imports has led one to bankruptcy and forced the other to lay off three-quarters of its workforce. The International Trade Commission is... Read More

Liberal definition of middle class Canadians ‘not useful,’ says economist

Liberal definition of middle class Canadians ‘not useful,’ says economist
The Liberals speak constantly of strengthening the Canadian middle class, but any precise definition of that amorphous category of people getting all the attention has always been ambiguous at best. Until now — depending on how one defines the word “precision.” Earlier this week, Transport Minister Marc Garneau rose in the House of Commons to reveal the Liberal government’s criteria... Read More