CATHARINES, Ontario (Reuters) – Canadian Prime Minister Stephen Harper voiced complete confidence in the Bank of Canada on Thursday, a day after it stunned markets by cutting interest rates amid a plunge in oil prices.
Harper also tried to play down the effects of the slide in crude prices and repeated a promise to balance the budget in 2015/16, an important political move ahead of an election set for October.
TORONTO (Reuters) – A surprise move by the Bank of Canada to cut interest rates on Wednesday could reignite Canada’s housing market and renew fears of a bubble, just as the market had finally begun to cool after a five-year run to record prices.
Canadian housing prices have risen 36.8 percent on average since mid-2009 and the average home price has doubled over the past decade. Last month, the central bank said the housing market could be overvalued by as much as 30 percent.
TORONTO, Jan 15 (Reuters) – Employees at Target Corp
stores in Canada said they were stunned by the U.S. retailer’s
decision on Thursday to pull out of Canada, believing business
had improved after an admittedly disastrous launch less than two
“It’s a big shock for everyone. I thought it was getting
better,” said one Toronto Target employee who would only give
her first name, Lima, for fear of reprisal from her employer.
TORONTO/LOS ANGELES (Reuters) – Bill Cosby, the subject of more than a dozen sex abuse allegations over the past three months, will go ahead with three Canadian shows this week, coming as more women leveled accusations against the comedian.
Protesters geared up to heckle Cosby and some fans tried to offload their tickets for the three performances in Ontario beginning on Wednesday.
TORONTO, Dec 15 (Reuters) – Sales of existing homes in
Canada were unchanged in November from October, but the Canadian
Real Estate Association revised up its forecasts for sales in
2014 and 2015 amid expectations that low interest rates will
remain support continued strength.
The industry group for Canadian real estate agents said on
Monday sales activity was flat last month from October. Actual
sales for November, not seasonally adjusted, were up 2.7 percent
from November 2013.
TORONTO, Dec 12 (Reuters) – Canadian home prices fell in
November from October, their first monthly decline in a year,
the Teranet-National Bank Composite House Price Index showed on
The index, which measures price changes for repeat sales of
single-family homes, showed prices fell 0.3 percent nationally
last month. They were still up 5.2 percent from a year earlier.
TORONTO (Reuters) – Canada’s Bombardier Inc said on Monday it is not bidding for the contract to replace Amtrak’s high-speed Acela, clearing the way for a rival to produce the next generation of the popular but sometimes troubled U.S. passenger trains.
The first Acela trains, which Bombardier made with France’s Alstom SA, went into service in 2000. Amtrak is to announce the new supplier this spring. Alstom declined to comment on whether it is bidding.
TORONTO, Dec 8 (Reuters) – Canadian housing starts rebounded
as expected in November and building permits edged higher in
October, two reports showed on Monday, suggesting the closely
watched housing market held momentum heading into the
traditionally slower winter season.
A report from the Canada Mortgage and Housing Corp showed
the seasonally adjusted annualized rate of housing starts rose
to 195,620 units in November, from 183,659 in October.
TORONTO (Reuters) – A celebrity radio host at the heart of one of Canada’s biggest sex scandals was charged with sexual assault on Wednesday in a case that has grabbed headlines.
Jian Ghomeshi, 47, former host of the internationally syndicated music and arts program Q on Canadian Broadcasting Corp radio, appeared in court to answer four counts of sexual assault and one of choking.
TORONTO (Reuters) – A celebrity radio host was charged with multiple counts of sexual assault on Wednesday in a scandal that has grabbed Canada’s media spotlight.
Jian Ghomeshi, 47, former host of the internationally syndicated music and arts program Q on Canadian Broadcasting Corp radio, surrendered to police and was charged with four counts of sexual assault and one of choking, Toronto police said.