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Canadian economy steady in April as real GDP remains unchanged – Business News

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Economy holds steady

The Canadian Press – | Stories: 434570

Statistics Canada says the Canadian economy remained essentially unchanged in April, following a slight uptick in March.

The federal agency’s advance estimate suggests real gross domestic product grew 0.4 per cent in May, led by the manufacturing and wholesale trade sectors.

The April figure came in lower than expected by Statistics Canada as services-producing industries were unchanged while goods-producing industries edged up 0.1 per cent.

The Canadian economy is largely expected to stall in the latter half of this year

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It’s Your Business has Melissa Brunner, Laura Stephenson, Danny Wade and Beth O’Neill

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Promotions

Melissa Brunner

Melissa Brunner

WIBW-TV general manager Roger Brokke has promoted veteran anchor/reporter Melissa Brunner to the news director position. Brunner succeeds Jon Janes, who retired after 24 years leading the 13 NEWS team and 51 years in journalism. She will continue to host Eye on Northeast Kansas and co-anchor 13 NEWS at 6 pm alongside David Oliver. “I look forward to continuing the strong tradition of local news for which WIBW-TV has always been known,” Brunner said. “We have a fantastic team who are dedicated to providing quality journalism every day. It’s a joy to work alongside them.” Brunner has

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Saskatchewan among the world’s top 3 regions for mining investment

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Three provinces make the top 10, according to Fraser Institute

Published May 05, 2023 • Last updated 21 hours ago • 4 minute read

An employee of Sayona Quebec in front of a lithium deposit at the company's North American Lithium Complex in La Corne, central Quebec.
An employee of Sayona Quebec in front of a lithium deposit at the company’s North American Lithium Complex in La Corne, central Quebec. Photo by MATHIEU DUPUIS/SAYONA/AFP via Getty Images files

Saskatchewan is the world’s third-most attractive region for mining investment, topped only by Nevada and Western Australia, according to the Fraser Institute’s latest Annual Survey of Mining Companies.

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Bank of Canada may hike rates further if inflation gets stuck above 2%

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Last month the Bank of Canada left its key overnight interest rate on hold at 4.5 per cent but said rates may need to stay high for a while because of wage pressure in a tight labor market and sticky service prices.

The bank’s baseline scenario sees the labor market softening as growth slows, easing wage pressures and business price-setting behavior, Macklem said.

“But there is a risk that these adjustments will take longer or stall, and inflation will get stuck materially above the two per cent target,” Macklem told the Toronto Region Board of Trade.

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Teck still plans business separation – Business News

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Teck Resources (TSX,NYSE:TECK.B) will proceed with a vote on phasing out its dual class structure, but canceled today’s planned vote on a plan to separate into two companies.

In a first quarter earning call today, Teck CEO Jonathan Price said the company still thinks separating into two separate companies is the best way to create value, but said it became clear that the way Teck planned to go about its division was not going to fly with shareholders.

Price told analysts there was strong

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Frustration, anticipation mark industry response to budget’s flight delay fixes – Business News

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The federal government has air travel on its radar after laying out plans in its budget to speed up airport security screening and reduce flight delays, but industry and advocates remain skeptical.

Tabled Tuesday by the Liberals following a year of turmoil travel, the budget promises $1.8 billion over five years for the Canadian Air Transport Security Authority (CATSA) to improve passenger screening and shore up security at airports.

It also proposes a new rule requiring airlines and airports to share and report data as a way to cut delays and bolster co-ordination within the industry.

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Stocks trending up – Business News

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Stocks closed higher again as more fear evaporated from Wall Street. The S&P 500 added 0.6% Thursday, its fifth gain in the last six days. The benchmark index is headed for a gain in March after struggling in earlier weeks on worries about whether the banking system was cracking under the weight of higher interest rates. Forceful actions by regulators worldwide have helped restore confidence. Also boosting stocks have been big batches that the Federal Reserve may cut rates

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Banks are in turmoil. Here’s how Canadians might be affected

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All eyes are on the global banking sector after a sudden turmoil brought down or threatened a handful of US banks and one major European bank this month.

The collapse of Silicon Valley Bank (SVB), followed by the near death of two other regional institutions — First Republic and Signature Bank — left market-watchers jittery and fearful of a domino effect like the one that led to the global financial crisis of 2008 .

And that was before Credit Suisse — one of the biggest banks in the world, safely housed in Switzerland, of all places — came crashing down

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