New Brunswick budget hikes income, tobacco taxes to fight $479 million deficit
By Kevin Bissett, The Canadian Press FREDERICTON - The New Brunswick government is reversing previous income tax cuts and increasing tobacco taxes in an effort to boost revenues as it fights a growing deficit projected to hit $479 million. The $8.5 billion budget delivered Tuesday for 2013-14 includes a deficit nearly $70 million higher than [...]
BMO raises controversial mortgage rate to previous level
By The Canadian Press TORONTO - Bank of Montreal will end a controversial low mortgage rate at the end of this week, when the limited-time offer runs out. The bank (TSX:BMO.TO – News) says the posted rate for a fixed five-year mortgage will return to 3.09 per cent, where it was before BMO lowered it [...]
Federal budget slammed for shortchanging Canada’s women
Just as Canadian women are trying to figure out whether to Lean In or lean back , the federal government appears to be holding them in another direction – down. According to the Canadian Centre for Policy Alternatives (CCPA), women in Canada have been shortchanged in the recent federal budget. “The Finance Minister got a [...]
Canadians’ house buying plans drop sharply: RBC
A majority of Canadians are taking a wait-and-see approach when it comes to home purchases and plans to buy have suffered the steepest year-over-year drop in two decades, thanks to Ottawa’s move to tighten mortgage rules last summer, says a poll released on Tuesday by the Royal Bank of Canada. RBC’s annual home ownership poll [...]
World stocks put Cyprus jitters aside
By Pamela Sampson, The Associated Press BANGKOK - World stock markets staged a comeback Tuesday from losses the day before as traders awaited data that is expected to show strengthening orders for U.S. durable goods such as cars and appliances. Asian markets were muted but European shares and U.S. futures rose ahead of the U.S. [...]
Cyprus bank shutdown enters second week
By The Associated Press NICOSIA, Cyprus – Banks across Cyprus remain locked Tuesday after financial authorities extended the country’s bank closure, fearing worried depositors will rush to drain their accounts. The shut-down is hammering businesses, which have been without access to their funds for more than a week. All but two of the country’s largest [...]
B.C. band asks court to force federal government to reject pipeline expansion
By The Canadian Press VANCOUVER - A British Columbia First Nation wants a court to force the federal government to reject the plan to twin the Kinder Morgan pipeline through its reserve. The Coldwater Indian Band says in Federal Court documents that the minister of indian affairs is ready to consent to the plan that [...]
Why it’s important to keep Cypriot banks shut
The decision to further push back the re-opening of Cypriot banks, which have been shut since March 16, even as the country hammered out a last-minute bailout deal, may be seen as a signal of further uncertainty in the crisis-hit island nation. But analysts tell CNBC that on the contrary, the move will help restore [...]
Boeing 787 makes test flight to check battery
By The Associated Press SEATTLE - A Boeing 787 with a redesigned battery system made a 2-hour test flight Monday, and the company said the event “went according to plan.” The test flight was an important step in Boeing Co.’s plan to convince global safety regulators to let airlines resume using the plane, which the [...]