By Karen Brettell NEW YORK (Reuters) – The dollar rose on Thursday against the euro after the European Central Bank eased its pace of rate hikes, a day after the Federal Reserve hiked rates by 25 basis points and indicated that it may pause further increases. The ECB’s 25-basis-point increase was the smallest since it…
By Steve Scherer and David Ljunggren OTTAWA, May 4 (Reuters) – Canadian inflation risks getting stuck significantly above the Bank of Canada’s 2% target, and if that happens the central bank is ready to hike interest rates rates further, Governor Tiff Macklem said on Thursday. Last month the Bank of Canada left its key overnight…
By Rod Nickel and Sourasis Bose (Reuters) -Canada’s Enbridge Inc said on Thursday it has reached a toll agreement with oil shippers for its Mainline crude pipeline system, one of North America’s biggest, after scrapping earlier plans for long-term contracts. The agreement, which will last through 2028 and requires Canadian regulatory approval, covers tolls charged…
By Ismail Shakil and Fergal Smith OTTAWA (Reuters) -Canada’s imports and exports dropped to one-year lows in March, data showed on Thursday, a sign that global demand is likely slowing after a series of interest rate hikes by the world’s major central banks. Total exports fell 0.7% in March, largely on cheaper energy products, while…
TORONTO (Reuters) – Canadian economic activity expanded at a slower pace in April as growth in employment slipped and inventories declined, Ivey Purchasing Managers Index (PMI) data showed on Thursday. The seasonally adjusted index fell to 56.8 from 58.2 in March. A reading above 50 indicates an increase in activity. The Ivey PMI measures the…
By Krystal Hu (Reuters) – Shopify Inc has divested the logistics arm it built over the past few years, in a reversal of its strategy of aggressively investing in fulfillment networks, the Canadian e-commerce platform said on Thursday. It has sold its logistics unit, including Deliverr Inc, a company it acquired for $2.1 billion less…
By Sam Jabri-Pickett TORONTO (Reuters) -Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc and Facebook parent Meta Platforms Inc to negotiate commercial deals…
By Karen Brettell NEW YORK (Reuters) – The dollar fell on Wednesday after the Federal Reserve raised interest rates by a quarter of a percentage point and signaled it may pause further increases. In an overt shift, the central bank no longer said it “anticipates” further rates will be needed, only that it will watch…
By Fergal Smith TORONTO (Reuters) – Greater Toronto Area (GTA) home prices increased in April from March as new listings posted a steep annual decline, adding to evidence that the housing market has turned a corner after being buffeted by sharply higher borrowing costs. The average price of a GTA home rose to C$1.153 million…
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – Interest rate hikes from central banks around the globe slowed to a trickle in April thanks to a combination of easing inflation and slowing growth prospects amid a dearth of meetings on monetary policy decisions. April saw two interest rate hikes across five meetings by central…
