Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for a period of time, to be determined,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk.
Canada has been selected to headquarter the multinational Defence, Security and Resilience Bank (DSRB), sources have told Radio-Canada.
General Motors says it will spend $691 million on its St. Catharines Propulsion Plant to support production of its
latest V-8 engines for full-sized trucks and SUVs.
The bank was widely expected to hold rates, despite the fact that energy prices have shot up due to the war in Iran, changing the inflation forecast.
Global energy markets continue to reel from the ongoing disruption in the Strait of Hormuz. The price of oil is sitting around $100 US a barrel, but Tuesday’s spring economic update used much lower prices to build the budget.
Prime Minister Mark Carney and Finance Minister François-Philippe Champagne introduced their spring economic update on Tuesday, the first since the Liberals were re-elected last year under Carney’s leadership. Here are some key highlights.
FIFA’s marketplace for resale World Cup tickets no longer has seats listed for Toronto matches after a new price cap came into effect last week. The Ontario legislation bans people and platforms from reselling seats to events in the province for more than face value.
The loss of the U.A.E., a longstanding OPEC member, could weaken the group which has usually sought to show a united front — despite internal disagreements over a range of issues from geopolitics to production quotas.
Sovereign wealth funds are usually started with extra money that governments then use to invest. But the Canada Strong Fund will differ from wealth funds in some other countries, and there are plenty of details that still need to be sorted out.
After selling off a large chunk of its Canadian assets nearly a decade ago, U.K.-based energy giant Shell is now expanding its operations in Alberta and British Columbia by acquiring Calgary-based ARC Resources for $22 billion.