Economy

Economy · 4 d ago

US tariffs idle the paper mill at the heart of Témiscaming, Quebec

5 pages

Most of the mill's 360 employees are out of work, kept afloat with partial pay from government tariff relief, after its American owner, RYAM, began an "economic shutdown" for an indefinite period in early October.

Economy · 4 d ago

Farragutful · CC BY-SA 4.0 · Wikimedia Commons

Teachers' union sues over stalled US student-loan forgiveness for public-service workers

4 pages

The American Federation of Teachers filed the suit on Friday against the US Department of Education and wants class-action status. It says the department has not processed buyback applications from 90,000 borrowers.

Economy · 4 d ago

Jio shares jump 21 per cent in India's largest-ever IPO

5 pages

Jio Platforms raised US$3.2 billion in its stock market debut in Mumbai. It is now valued at US$131.5 billion, second in India only to its parent, Reliance Industries.

Economy · 5 d ago

Bank of Canada - Banque du Canada from Canada · CC BY 2.0 · Wikimedia Commons

Weak GDP puts the timing of the next Bank of Canada rate hike in question

5 pages

The Bank of Canada expects third-quarter growth of two per cent annualized, but economists say Friday's GDP data puts that at risk. BMO cut its call to 1.5 per cent from two.

Economy · 5 d ago

Bank of Canada - Banque du Canada from Canada · CC BY 2.0 · Wikimedia Commons

The Bank of Canada is expected to raise its key rate for the first time since 2023

5 pages

Markets and economists expect a quarter-point hike, from 2.25 per cent to 2.5 per cent. The rate has held at 2.25 per cent for nearly a year.

Economy · 5 d ago

P199 · CC BY-SA 3.0 · Wikimedia Commons

Agnico Eagle warns diesel prices could raise its 2027 costs

5 pages

Diesel is expected to add US$50 to US$60 an ounce to the gold miner's costs in the fourth quarter, up from about US$30 in the prior period, its chief financial officer told analysts. Its shares fell as much as 4.5 per cent in Toronto.

Economy · 5 d ago

Arild Vågen · CC BY-SA 4.0 · Wikimedia Commons

Tech sell-off deepens, and the Nasdaq heads for its worst day since June

5 pages

By 12:55 p.m. ET the Nasdaq was down three per cent and the S&P 500 down 1.8 per cent, on track to erase its October gain. The Dow was down 496 points.

Economy · 5 d ago

Halava · CC BY-SA 3.0 · Wikimedia Commons

TMX Group's CEO says half of its business is now outside Canada

5 pages

TMX reported third-quarter revenue up 17 per cent from a year earlier, with adjusted earnings of $0.63 a share, up 21 per cent. Acquisitions pulled net income down in the quarter.