Category: Canada
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Restaurants Canada on LCBO Strike
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Article Content statement TORONTO, July 5, 2024 (GLOBE NEWSWIRE) — Restaurants Canada is urging the Restaurants Canada Association, the government and the striking workers to continue negotiating to reach a quick resolution and end the labour dispute. The summer season is a critical time for restaurants and bars that rely…
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CGI acquires Celero’s business serving credit union clients across Canada By Investing.com
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Stock market symbolsGIBA (TSX)GIP (New York Stock Exchange)cgi.com/newsroom Acquisition expands CGI’s managed services offerings to more than 90 credit unions nationwide Montreal, July 4, 2024 CGI Corporation (TOKYO:GIB.A) (NYSE:GIB) today announced the acquisition of the credit union business of Celro, which serves customers throughout CanadaThis transaction consists of key service…
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Canada May producer price index 0.0% versus 0.5% estimate
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Previous month 1.5% was revised to 1.4% Producer prices rose monthly by 0.0% versus expectations of 0.5%. Year-on-year producer prices rose 1.8% versus 1.4% last month and were revised to 1.3%. This was the largest year-on-year increase since January 2023. Raw material prices on a monthly basis -1.0% compared to…
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What’s priced in for the Bank of Canada
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The Bank of Canada began its interest rate cutting cycle this month and the question now is: How quickly can the cuts continue? Governor Tiff Macklem said they make their decisions one meeting at a time and that it is reasonable to expect further interest rate cuts if inflation continues…
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Housing starts in Canada hit highest level in seven months
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Article content Housing starts in Canada jumped to their highest level in seven months, as the country’s two largest provinces ramped up construction of apartments, townhomes and condominiums. Builders began work on 264,506 units annually in May, it said Data released on Monday By Canada Mortgage and Housing Corporation. That…
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The Bank of Canada is behind the curve and the loonie will suffer
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In the coming weeks, we will see a picture of deteriorating data and it will be clear that the Bank of Canada is falling behind the curve. The overnight interest rate of 4.75% is still very restrictive in an over-leveraged economy. It’s clear from Bank of Canada Governor Tiff Macklem’s…
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With the Bank of Canada, ECB and jobs in the rear view mirror, the Fed is ahead
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This week, the Bank of Canada and the European Central Bank cut interest rates by 25 basis points each. For each, the initial cut was by the central bank. The Bank of Canada announced its interest rate decision on Wednesday. The central bank has reduced what is seen as restrictive…
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Locked and loaded for the US and Canada jobs report
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The US and Canadian jobs report will be released at the end of the hour. What to expect for May in the United States? Nonfarm Payrolls Estimates 185k (vs. 175k) Private payroll, 170,000 vs. 167,000 last month. Manufacturing payrolls, 5k vs 8k last month The unemployment rate is 3.9% compared…
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Dollar edges up ahead of key data, Bank of Canada policy meeting By Reuters
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Written by Stefano Ribaudo (Reuters) – The dollar rose ahead of key U.S. economic data on Wednesday, with investors also awaiting a monetary policy meeting in Canada that could trigger a cycle of interest rate cuts. Investors are awaiting US services data on Wednesday, and more jobs numbers later in…
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National Skills Champions are Honoured at the Skills Canada National Competition 2024, in Québec
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This section is Partnership content provided The content in this section is provided by GlobeNewswire for the purposes of press release distribution on behalf of its clients. Postmedia has not reviewed the content. by Globe Newswire Breadcrumb links Globe Newswire Article writer: Published on June 1, 2024 • 2 min…
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National Skills Champions are Honoured at the Skills Canada National Competition 2024, in Québec
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This section is Partnership content provided The content in this section is provided by GlobeNewswire for the purposes of press release distribution on behalf of its clients. Postmedia has not reviewed the content. by Globe Newswire Breadcrumb links Globe Newswire Article writer: Published on June 1, 2024 • 2 min…
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Highlights for next week: Bank of Canada and ECB are expected to cut rates. US jobs report
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Two central banks meet next week and are expected to cut interest rates. The Bank of Canada will announce its interest rate decision at 9:45 a.m. on Wednesday. They are expected to reduce the interest rate to 4.75% from 5.0%. The last policy change was in July 2023 when they…
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With one week until the Bank of Canada decision, what’s priced in?
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Macklem We are one week away from the Bank of Canada’s interest rate decision on June 5 and it looks like it will be tense in the FX market. Currently, the market expects a 61% chance of a rate cut and a 39% chance of no change to the 5.00%…
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With one week until the Bank of Canada decision, what’s priced in?
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Macklem We are one week away from the Bank of Canada’s interest rate decision on June 5 and it looks like it will be tense in the FX market. Currently, the market expects a 61% chance of a rate cut and a 39% chance of no change to the 5.00%…
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Canada Shifts to T+1 Settlement Cycle, US to Follow Tomorrow
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Canada has moved to a T+1 settlement cycle for equity and long-term debt market trades. The shift, which is in line with similar regulatory changes in the US, promises to simplify the settlement process and reduce the risks associated with delayed trades. Improving market liquidity The Canadian Securities Administrators (CSA)…
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Israel Canada buys prime Tel Aviv site for NIS 443m
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A 45-storey tower will be built on the site between Dubnov Street and Leonardo da Vinci Street, which is currently used as a car park. The parking lot located at 4-6 Dubnov Street in central Tel Aviv, between Dubnov Street and Leonardo da Vinci Street, was sold at an Israel…
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Canada pledges more visas for Gazans, says it’s ‘horrified’ by Israeli attack in Rafah By Reuters
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By Ismail Shakil OTTAWA (Reuters) – Canada said on Monday it would issue visas to 5,000 residents of the Gaza Strip, more than it initially pledged, and said it was “horrified” by the Israeli air strike on Rafah that caused a fire that killed 45 people. . The visas for…
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Do Bank of Canada rate holds risk further damage?
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Article content David Rosenberg, founder and president of Rosenberg Research, recently told the Financial Post’s Larissa Harabin that he expects a rate cut in the central bank’s next announcement in June. “I think the bank should cut interest rates at the next meeting,” he said in a video interview. “If…
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Canada April CPI 2.7% versus 2.7% expected
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Previous month 2.9% Consumer Price Index (CPI) monthly: 0.5% vs. 0.6% estimate Basic measures Bank of Canada Core Consumer Price Index (CPI) YoY +1.6% vs. 2.0% previously Bank of Canada Consumer Price Index (CPI) monthly core at 0.2% versus 0.5% previously Core CPI rose monthly YoY by 0.0% versus 0.1%…