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2024-08-17 02:30:18

U.S. election: What are the key points of Kamala Harris’ economic plan?
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Democratic presidential nominee Kamala Harris unveiled a plan initiated by Joe Biden to capitalize on the rebounding economy. Her proposals aim to help Americans save more money and achieve affordable homeownership.
https://globalnews.ca/video/10703234/u-s-election-what-are-the-key-points-of-kamala-harris-economic-plan/

2024-07-29 01:34:45

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2024-07-29 01:34:34

Jasper wildfire: Before-and-after photos show destruction of town
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A wildfire in Jasper, Alberta has potentially destroyed up to 50% of the town's buildings, including a historic church attended by Queen Elizabeth II, a long-standing lodge, and numerous residents' homes. Efforts are underway to save as many buildings as possible. The town and Jasper National Park were evacuated, with up to 10,000 people in the town and 15,000 visitors in the park. The most significant structural damage is concentrated on the west side of town. The Maligne Lodge, a hotel in Jasper, was destroyed. The St. Mary & St. George Anglican Church, a community fixture since 1923, was also destroyed. The wildfire advanced toward Connaught Drive in Jasper, and Geikie Street was left in ruins. Many homes in Cabin Creek were ravaged by the fire.
#Wildfire #Jasper #Alberta #Destruction #Evacuation
https://globalnews.ca/news/10645068/jasper-wildfire-before-and-after-pictures-destruction/

2024-07-29 00:53:39

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2024-07-29 00:53:27

2024-07-17 00:07:16

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2024-07-17 00:07:04

S&P/TSX composite up almost 250 points Tuesday, U.S. markets also rise
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The S&P/TSX composite index closed up 243.71 points at 22,995.39 on Tuesday, while the Dow Jones industrial average was up 742.76 points at 40,954.48. The S&P 500 index was up 35.98 points at 5,667.20, and the Nasdaq composite was up 36.77 points at 18,509.34. Gains in industrial and technology stocks led Canada's main stock index up more than one per cent, outweighing weakness in energy. The Dow's rally was driven by strong earnings reports from major companies, including UnitedHealth and Bank of America. Markets in the U.S. were also boosted by optimism that interest rate cuts are on the way. The Bank of Canada is expected to cut rates in July.
#S&p/tsxComposite #StockMarket #DowJones #EarningsReports #InterestRateCuts #BankOfCanada
https://globalnews.ca/news/10628107/tsx-16-july-2024/

2024-07-04 22:15:09

S&P/TSX composite gains 20 points Thursday with U.S. markets closed for July 4
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The S&P/TSX composite index closed up 20.35 points at 22,244.02 on Thursday, with U.S. stock markets closed for the July 4 holiday. Investors are focused on Friday's jobs numbers in both the U.S. and Canada, which could have implications for interest rate cuts in both countries. Economists expect the U.S. economy to have added about 190,000 jobs in June. The U.S. Federal Reserve is considering when to start cutting its key interest rate, with markets seeing September as a possibility. The Bank of Canada recently announced its first interest rate cut in years, and Friday's jobs report is expected to add to evidence of a slowing economy. The Canadian dollar traded for 73.46 cents US compared with 73.33 cents US on Wednesday.
#S&p/tsxCompositeIndex #UsStockMarkets #July4Holiday #JobsNumbers #InterestRateCuts #UsEconomy #BankOfCanada #CanadianDollar
https://globalnews.ca/news/10605223/sp-tsx-composite-july-4-2024/

2024-07-04 22:15:09

2024-06-29 00:20:33

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2024-06-29 00:20:21

S&P/TSX composite closes down Friday along with U.S. markets
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The S&P/TSX composite index ended down 66.37 points at 21,875.79 as energy and industrials fell. Statistics Canada said Friday real gross domestic product grew 0.3 per cent in April and that its early read for May showed growth slowed to 0.1 per cent for the month. The Dow Jones industrial average was down 45.20 points at 39,118.86. The S&P 500 index was down 22.39 points at 5,460.48, while the Nasdaq composite was down 126.08 points at 17,732.60. U.S. consumer prices rose 2.6 per cent in May compared with a year ago. The Canadian dollar traded for 73.06 cents US compared with 73.05 cents US on Thursday. The August crude oil contract was down 20 cents at US$81.54 per barrel and the August natural gas contract was down eight cents at US$2.60 per mmBTU. The August gold contract was up $3 at US$2,339.60 an ounce and the September copper contract was up four cents at US$4.39 a pound.
#S&p/tsxComposite #StockMarket #Canada #UsMarkets
https://globalnews.ca/news/10595537/tsx-28-june-2024/

2024-05-28 23:57:45

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2024-05-28 23:57:33

S&P/TSX composite down more than 100 points, U.S. stock markets mixed
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The S&P/TSX composite index closed down 108.33 points at 22,265.05. In New York, the Dow Jones industrial average was down 216.73 points at 38,852.86. The S&P 500 index was up 1.32 points at 5,306.04, while the Nasdaq composite was up 99.09 points at 17,019.88. Losses in industrial, utility, and financial sectors weighed on the Toronto stock market. The Canadian dollar traded for 73.32 cents US. Scotiabank reported lower earnings for its latest quarter due to rising strain in auto loans and mortgages. The July crude oil contract traded for US$79.83 per barrel, up US$2.11 from its settlement price Friday. The June gold contract was up US$22 from its Friday settlement price to trade for US$2,356.50 an ounce, while the July copper contract was up 11 cents from Friday at US$4.86 a pound.
#S&p/tsxComposite #StockMarkets #TorontoStockMarket #DowJones #S&p500 #Nasdaq #Scotiabank #CanadianDollar #CrudeOil #Gold #Copper
https://globalnews.ca/news/10530538/sp-tsx-composite-may-28-2024/

2024-05-27 11:12:20

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2024-05-27 11:12:08

Ontario privacy commissioner probing deleted Greenbelt emails
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Ontario's privacy commissioner, Patricia Kosseim, is investigating the use of non-government emails and deleted messages related to the Greenbelt controversy. The investigation was prompted by NDP Leader Marit Stiles, who raised concerns about Premier Doug Ford and government staffers' reported use of personal phones and emails. The privacy commissioner's office is currently working on 19 active access-to-information appeals related to these concerns. The Greenbelt controversy began in late 2022 when the Ford government removed land from the protected Greenbelt to build 50,000 homes. After public outcry and reports from the auditor general and integrity commissioner, Ford reversed course. The RCMP is now investigating the Greenbelt removal process. The privacy commissioner did not provide a timeline for the publication of her special report. The auditor general's investigation also found that political staff used personal and government emails on the Greenbelt file, and some emails related to the land swap were deleted. The privacy commissioner's special report is expected to provide a comprehensive summary of the findings and insights into the access to information and record-keeping issues related to the Greenbelt changes. The report aims to promote transparency in government actions and decisions. The NDP welcomes the report as it hopes to gain a clearer understanding of the government's conduct in the Greenbelt controversy. Ontario created the Greenbelt in 2005 to protect agricultural and environmentally sensitive lands in the Greater Golden Horseshoe area from development.
#Ontario #PrivacyCommissioner #Greenbelt #Emails #Investigation #Accesstoinformation #DougFord #Ndp #AuditorGeneral #IntegrityCommissioner #Rcmp
https://globalnews.ca/news/10526384/ontario-privacy-commissioner-probing-deleted-greenbelt-emails/

2024-05-24 17:19:46

What is OPEC and how does it affect oil prices?
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OPEC, founded in 1960, coordinates petroleum policies and aims to secure fair and stable oil prices. It includes 12 countries, mainly from the Middle East and Africa, accounting for about 30% of the world's oil. OPEC formed the OPEC+ coalition with 10 non-OPEC oil exporters, including Russia, in 2016. OPEC+ crude output represents about 41% of global oil production. The group's main objective is to regulate the supply of oil to the global market. OPEC decisions can affect global oil prices due to its large market share. When OPEC lowers supply in response to falling demand, oil prices tend to rise, and vice versa. OPEC estimates that its member countries hold about 80% of the world's proven oil reserves. The OPEC+ group is currently cutting output by 5.86 million barrels per day (bpd), equal to about 5.7% of global demand. The June 2 meeting could decide to extend voluntary cuts by several months. OPEC decisions have had significant effects on the global economy in the past, such as the 1973 Arab-Israeli War embargo and the COVID-19 pandemic. OPEC says its job is to regulate supply and demand rather than prices. The current OPEC members are Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Iran, Algeria, Libya, Nigeria, Congo, Equatorial Guinea, Gabon, and Venezuela. Non-OPEC countries in the OPEC+ alliance are represented by Russia, Azerbaijan, Kazakhstan, Bahrain, Brunei, Malaysia, Mexico, Oman, South Sudan, and Sudan.
https://globalnews.ca/news/10522634/what-is-opec-and-how-does-it-affect-oil-prices/

2024-05-04 01:49:28

Edmonton weather forecast: Friday, May 3, 2024
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Phil Darlington provides the weather forecast for Edmonton, Alberta and the surrounding area on Friday, May 3, 2024.
https://globalnews.ca/video/10469237/edmonton-weather-forecast-friday-may-3-2024

2024-05-04 01:49:17

Desperate Surrey mother stages one-woman child care protest
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A single mother in Surrey, British Columbia is staging a one-woman protest outside her son's elementary school, claiming that she faces homelessness if she doesn't get before and after school child care.
https://globalnews.ca/video/10469231/desperate-surrey-mother-stages-one-woman-child-care-protest

2024-04-29 22:18:08

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2024-04-29 22:17:56

TSX posts small gain, U.S. markets rise ahead of Fed rate meeting and earnings
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The S&P/TSX composite index closed up 42.38 points at 22,011.62. In New York, the Dow Jones industrial average was up 146.43 points at 38,386.09. The S&P 500 index was up 16.21 points at 5,116.17, while the Nasdaq composite was up 55.18 points at 15,983.08. This week, "all eyes are going to be on the Fed," said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd. Coming into the year, markets expected about six cuts to the central bank’s key rate by the end of 2024. But a succession of stronger-than-expected economic reports have eroded those expectations. "Things are slowing, even though there’s still strong growth and employment figures," she said. Now, expectations are closer to just one cut this year, said Gardner, with some expecting zero. While the interest rate decision itself appears all but decided, investors will be watching for any comments from Fed officials on their direction, said Gardner.
#Tsx #UsMarkets #FedRateMeeting #Earnings #StockMarket #InterestRates
https://globalnews.ca/news/10458189/tsx-april-29-2024/

2024-04-23 21:51:30

Canada will take bigger economic hit than U.S. if Trump wins election: report
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A new report warns that Canada will experience a bigger economic impact than the United States if Donald Trump wins the upcoming presidential election and imposes promised tax cuts and tariffs on all U.S. imports. The report by Scotiabank Economics states that if Trump follows through on his vow to slap a 10% tariff on all imported goods (excluding China, which would face a 60% carve-out on its U.S. exports) and countries retaliate with their own tariffs, there would be substantial negative impacts on the U.S. economy. GDP would likely fall by more than 2% by 2027 relative to current forecasts, while inflation would rise 1.5% and interest rates would increase by 2%. In Canada, the economic impact would be even more significant, with an expected GDP drop of 3.6%, along with increased inflation and interest rates. The report also highlights the need for Canada to address its issues with lagging productivity, as it makes the country more vulnerable to economic shocks brought by trade policy changes in the U.S. and abroad. The report focuses more on the potential fallout from Trump's promises, as they are seen as more harmful and likely to be implemented than Joe Biden's vow to raise the corporate tax rate.
#Canada #UnitedStates #DonaldTrump #PresidentialElection #TaxCuts #Tariffs #Gdp #Inflation #InterestRates #TradePolicy #Productivity #JoeBiden
https://globalnews.ca/news/10444185/donald-trump-us-election-economy-tariffs-canada/

2024-02-22 17:49:27

S&P/TSX composite up more than 100 points, U.S. stocks also rally
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The S&P/TSX composite index was up 130.36 points at 21,302.74. In New York, the Dow Jones industrial average was up 271.35 points at 38,883.59. The S&P 500 index was up 83.81 points at 5,065.61, while the Nasdaq composite was up 380.40 points at 15,961.27. The Canadian dollar traded for 74.09 cents US compared with 74.01 cents US on Wednesday. The April crude contract was up 59 cents at US$78.50 per barrel and the April natural gas contract was down nine cents at US$1.77 per mmBTU. The April gold contract was down US$1.20 at US$2,033.10 an ounce and the March copper contract was up two cents at US$3.89 a pound.
#S&p/tsxComposite #U.s.Stocks #StockMarket #TechnologySector #DowJones #S&p500 #Nasdaq #CanadianDollar #CrudeOil #NaturalGas #Gold #Copper
https://globalnews.ca/news/10310481/sp-tsx-composite-february-22-2024/

2024-01-11 16:50:03

U.S. inflation ticks higher in December. What that means for the Fed
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U.S. inflation rose 0.3% in December and 3.4% from a year earlier, exceeding economists' forecasts. Housing costs and energy costs contributed to the increase. Core prices, excluding food and energy costs, rose 0.3% month over month and 3.9% year over year. Overall inflation has been falling but is still higher than before the surge in mid-2022. The Federal Reserve aims to reduce inflation to its 2% target level. Consumer expectations for inflation have decreased to 3% over the next year. Fed officials noted hopeful signs in the inflation outlook, including an end to supply chain backlogs. The December jobs report showed a slight increase in average hourly wages and a decrease in the labor force participation rate. Economists suggest that reaching the Fed's 2% target could be more challenging than slowing inflation from 9% to around 3%.
#U.s.Inflation #FederalReserve #Economy #InterestRates
https://globalnews.ca/news/10218712/us-inflation-december-federal-reserve/

2024-01-10 01:35:21

Industry experts hope Emmy wins for The Last of Us generate future projects for Alberta’s film, television industry
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The first season of The Last of Us TV show won eight times at the 75th Creative Arts Emmy Awards. The show was filmed in southern Alberta and generated over $182 million for Alberta's economy, supporting 1,490 jobs. The success of the series is expected to encourage more production companies to film in Lethbridge. Alberta Minister of Arts, Culture and Status of Women Tanya Fir will be traveling to Los Angeles to promote Alberta to production companies like HBO. The Primetime Emmy Awards are set for Jan. 15, where The Last of Us is expected to win more prizes.
#TheLastOfUs #EmmyAwards #FilmIndustry #TelevisionIndustry #Alberta
https://globalnews.ca/news/10215014/the-last-of-us-alberta-film-industry-hopes/