Business

Flaherty expected to announce more help for banks

Finance Minister Jim Flaherty has scheduled a news conference for Thursday morning before stock markets open amid speculation that the federal government is ready to take major steps to guarantee loans and bolster the security of bank deposits.

Ontario unveils cuts, $500 million deficit

Robert Benzie, Rob Ferguson Toronto Star 23.10.2008
Ontario unveils cuts, $500 million deficit

Forced into a $500 million deficit by worldwide economic chaos, the Ontario government is scaling back spending this year and signalling that harder times loom in next spring's budget.


BC premier moves to ease crisis impact

British Columbia Premier Gordon Campbell has unveiled a 10-point plan that aims to ease the impact of the global financial crisis on the province and is residents.

Flaherty says government interventions working

Paul Vieira Canada.com 22.10.2008
Flaherty says government interventions working

OTTAWA - Finance Minister Jim Flaherty said Tuesday steps taken to date by the federal government and the Bank of Canada "seem" to have worked in "some" degree toward loosening credit conditions.


Ontario to outline economic woes today

Rob Ferguson, Robert Benzie Toronto Star 22.10.2008
Ontario to outline economic woes today

The global financial crisis will tip Ontario into a "small" budget deficit this year, forcing the postponement of planned new government programs, sources said on the eve of today's fall economic statement.

Deficits split premiers; Ontario set to take plunge

STEVEN CHASE, LES PERREAUX, KEVIN CARMICHAEL The Globe and Mail 21.10.2008
Deficits split premiers; Ontario set to take plunge

MONTREAL -- Canada's premiers emerged from a five-hour meeting on the global financial crisis at odds over whether to run budget deficits in tough times but united in their insistence that the Harper government avoid cutting spending and transfers...


Harper echoes Dion with economic plan

The Canadian Press 16.10.2008
Harper echoes Dion with economic plan

OTTAWA — Stephen Harper delivered a soothing message of parliamentary co-operation Wednesday - and lifted a page from his Liberal adversary's election playbook. The Conservative leader, in his first news conference as freshly re-elected minority p...

EnCana split derailed by global credit crunch

Scott Haggett, Scott Anderson Reuters 16.10.2008
EnCana split derailed by global credit crunch

TORONTO/CALGARY, Alberta (Reuters) - EnCana Corp said on Wednesday that global market turmoil has forced it to delay plans to split into natural gas and oil sands arms and that it would wait until markets calm before revisiting the idea.


GM begins taking orders for Chevrolet Camaro

Oshawa, Ontario - General Motors of Canada has announced that, beginning Thursday, October 16, 2008, dealers across the country will be able to submit customer orders for the new 2010 Camaro Coupe. Pricing will be released within the next few weeks.

St. Thomas truck plant gets chop from Daimler; More than 1,300 jobs will be lost

The economic storm engulfing North America will sweep away more of Ontario's key auto industry next year when Daimler closes its heavy-truck operation in St. Thomas and eliminates more than 1,300 jobs.


Winnipeg Free Press workers walk off the job

WINNIPEG -- Striking workers at the Winnipeg Free Press have stopped this city's biggest newspaper from publishing today.

Manulife warns of $250M hit

Eoin Callan Financial Post 14.10.2008
Manulife warns of $250M hit

The turmoil in financial markets is taking an increasing toll on Canada's largest insurer, which yesterday warned investors that its capital base will be weakened unless "markets recover."


Bell, Telus team up to upgrade networks

Montreal Gazette 12.10.2008
Bell, Telus team up to upgrade networks

Bell Canada and Telus Communications, two rivals in the wireless business, are teaming up to make their networks faster and more profitable for foreign visitors.

Ottawa admits it must act on the economy

BRIAN LAGHI, HEATHER SCOFFIELD, STEVE CHASE, TARA PERKINS The Globe and Mail 10.10.2008
Ottawa admits it must act on the economy

OTTAWA, RICHMOND, B.C. and TORONTO — The federal government is moving to backstop the Canadian banks' capacity to lend money in an acknowledgment that not even the country's sturdy banking system is immune to the global financial crisis.


Afghan mission will top $18B by 2011: report

A report on the fiscal cost of Canada's mission in Afghanistan was released Thursday and its answer -- $18.1 billion -- was immediately political fodder on the campaign trail.

Zero Growth Predicted For Ontario Economy

The crumbling markets have affected economies around the world, and Ontario is no exception. The Royal Bank predicted zero growth for the province in 2008, and only a 0.5 per cent increase in 2009. And they lay the blame squarely at the feet of th...


Rough time ahead, but no tax hikes, McGuinty says

Robert Benzie Toronto Star 09.10.2008
Rough time ahead, but no tax hikes, McGuinty says

No matter how bad the economy gets, Premier Dalton McGuinty is promising that taxes won't go up. McGuinty said yesterday that the "worst thing that you can do in times of an economic slowdown" would be to raise taxes.

Alberta premier calls on counterparts for economic meeting

Alberta's Progressive Conservative premier wants to meet with his provincial counterparts to discuss the state of the Canadian economy, even though Stephen Harper called the same proposal by Liberal Leader Stéphane Dion "panicking."


Afghan Mission Price Tag More Than $20B According To Think Tank

The Conservative election campaign could take a hit on Thursday as the cost of the war in Afghanistan is released. Though the party estimates the mission will set the federal treasury back $8 billion, Ottawa think tank the Rideau Institute believe...

Ontario could run deficit, says finance minister

Lee Greenberg Canada.com 07.10.2008
Ontario could run deficit, says finance minister

TORONTO - Ontario may be slipping into deficit as volatility in world markets have caused even greater uncertainty in the province's outlook, Finance Minister Dwight Duncan said Monday.



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