OTTAWA (Reuters) – Canadian explorers have found the wreck of one of two ships lost in the 1845 Franklin expedition to Canada’s Northwest Passage, solving an enduring historical mystery and bolstering Canada’s claim to the key Arctic trade route.
Sir John Franklin and his 128 crew in the British ships HMS Erebus and HMS Terror were seeking the fabled Northwest Passage between the Atlantic and Pacific oceans when they became stuck in ice. The men all died and the ships vanished.
OTTAWA, Sept 5 (Reuters) – The Canadian economy unexpectedly
lost 11,000 jobs in August from July, and the number of
private-sector employees fell sharply in another sign that the
economy is still struggling to regain full speed.
Statistics Canada said on Friday that the unemployment rate
had remained at 7.0 percent. Analysts had forecast that 10,000
positions would be added after the gain of 41,700 jobs in July.
OTTAWA, Sept 4 (Reuters) – Canada’s trade surplus in July
jumped to a near six-year high of C$2.58 billion ($2.37 billion)
in another sign the long-battered export sector could be on its
way to a lasting recovery.
Market analysts had expected a surplus of C$1.20 billion.
Statistics Canada, which released the data on Thursday, revised
June’s surplus down to C$1.83 billion from an initial C$1.86
OTTAWA, Sept 3 (Reuters) – The Bank of Canada reiterated its
explicitly neutral stance and kept its overnight interest rate
at 1 percent on Wednesday, but highlighted new concern over the
overstretched household sector.
“Overall, the risks to the outlook for inflation remain
roughly balanced, while the risks associated with household
imbalances have not diminished,” it stated.
OTTAWA (Reuters) – Senior officials from Canada and China met quietly in Ottawa last week to discuss relations that have deteriorated so badly that they could threaten Prime Minister Stephen Harper’s planned visit to China in November.
Canada sees China as an important trading partner and in early 2012 Harper went to Beijing to pitch the idea of Canada as a potential oil supplier. The closeness of the ties are in question after two high-profile incidents.
OTTAWA (Reuters) – NATO wants all 28 member states at a summit next week to commit to boost their defence spending, but Canada opposes the move, straining ties inside the alliance, two sources told Reuters on Thursday.
The sources, both familiar with negotiations on the issue, said NATO officials were pushing for a joint pledge to increase spending to two percent of gross domestic product within 10 years. The NATO summit will be held in Wales on Sept. 4-5.
OTTAWA, Aug 15 (Reuters) – Canada reported unexpectedly
healthy jobs and manufacturing sales data on Friday, boosting
market optimism that the sluggish economy might finally be
starting to accelerate.
Despite a recovery in the United States, Canada’s main
trading partner, the Canadian economy has been creating few jobs
and has been operating well below full capacity.
OTTAWA, Aug 15 (Reuters) – Canada created 41,700 jobs in
July, considerably more than expected, and the unemployment rate
dropped to 7.0 percent from 7.1 percent in June, according to
revised data Friday from Statistics Canada.
Market analysts had forecast a gain of 20,000 jobs.
Statscan initially reported a week ago that just 200 new
positions were created in July, but withdrew the data, citing
WAKEFIELD, Quebec, Aug 12 (Reuters) – Canadian Finance
Minister Joe Oliver said on Tuesday he wanted to cut personal
taxes further in next year’s budget, while also expressing
concern about what he called a still fragile global economy.
The Conservative government, which relied on large budget
deficits to help Canada avoid the worst of the recession,
projects it will have a surplus of C$6.4 billion in the 2015/16
OTTAWA, Aug 11 (Reuters) – Top Canadian finance ministry
official Jean Boivin will join the London office of BlackRock
Inc, the world’s largest money manager, the firm said on
Boivin, seen as a contender to head the Bank of Canada one
day, is the second most powerful official at the ministry.
Reuters broke the news last week that he would be leaving his
post on Aug. 29.