has been since September, 2010. This was not a surprise at all but there were some different
messages contained in Governor Mark Carney’s commentary and in the Bank’s Monetary Policy
Report published the same day as the rate announcement was made.
results of the combination of survey data from both consumer and industry participants are
interesting, provocative and, in some areas, a little sobering.
In construction, weekly earnings increased 5.3% to $1,133.09, and growth was widespread across all industries in this sector.
mortgages, some expected and some not, rocked the Canadian mortgage world last week.
DENVER - Hobby Lobby Stores Inc. is challenging the part of the federal health care law that requires for-profit companies to offer employees health coverage that includes products the business owners find morally objectionable, such as certain types of contraception.
The arts-and-crafts chain is the best-known company challenging the contraception mandate, but more than two dozen other companies have made similar claims. Among the companies with live claims challenging the contraception mandate:
SAN FRANCISCO - Few have explored the remote volcanic islands of the Galapagos archipelago, an otherworldly landscape inhabited by the world's largest tortoises and other fantastical creatures that inspired Charles Darwin's theory of evolution.
Soon it will take only the click of a mouse or finger swipe on a tablet to explore some of the Galapagos Islands' most remote areas, surrounding waters and unique creatures.
WASHINGTON - President Barack Obama's nominee for secretary of commerce is facing scrutiny in the Senate for her ties to a subprime mortgage lender that failed in 2001 and as a beneficiary of family offshore trusts in the Bahamas.
Billionaire business executive Penny Pritzker of Chicago is a longtime Obama friend who raised hundreds of thousands of dollars for both of his presidential campaigns.
TORONTO - Canada's privacy commissioner Jennifer Stoddart says she's tried naming and shaming some of the world's largest companies into respecting the privacy of Canadians.
But, she admits, it hasn't really worked.
WASHINGTON - The U.S. House says student loans' interest rates should be pegged to the financial markets.
The House on Thursday passed a bill that would tie interest rates to 10-year Treasury bills. The measure would head off a doubling of interest rates on subsidized Stafford student loans come July 1. But the bill faces a veto threat from President Barack Obama.
SKOPJE, Macedonia - A criminal court in Macedonia's capital has sentenced 86 employees of a road management company to prison terms ranging from eight months to more than six years for involvement in a massive highway toll scam.
A court announcement says the defendants — all employees of the Makedonija Pat company, which manages the national roads and highways — were found guilty Thursday of forging receipts for toll payments.
TORONTO - The Canadian dollar headed higher Thursday despite weaker-than-expected manufacturing data from China.
The loonie was ahead 0.39 of a cent to 96.80 cents US, recovering from an 11-month low on Wednesday.
WASHINGTON - The economy is recovering, the White House is dealing with multiple controversies, and President Barack Obama appears generally unaffected either way.
He's getting no significant uptick in approval from gains in housing, jobs and the stock market. Likewise, he has so far seen no downtick from the recent storms over the terror attack in Benghazi, Libya, the targeting of conservative groups by the IRS and a leak investigation that has swept up the phone records of Associated Press journalists.
TORONTO - The parent company of small wireless company Mobilicity says its debtholders have approved a plan to sell the company to Telus Corp. for $380 million.
The company says it will seek court approval at a hearing for next Tuesday.
WASHINGTON - U.S. sales of new homes rose in April and nearly matched the fastest pace in five years, driving the median price to a record high. The gains suggest the housing recovery is strengthening.
New-home sales increased 2.3 per cent in April from March to a seasonally adjusted annual rate of 454,000, the Commerce Department said Thursday. That's only slightly below January's pace of 458,000, which was the fastest since July 2008.
PARIS - International Monetary Fund chief Christine Lagarde is facing questions at a special Paris court Thursday over her role in the 400 million euro ($520 million) pay-off to a controversial businessman when she was France's finance minister.
The court hearing threatens to sully the reputations of both Lagarde and France. The payment was made to well-connected entrepreneur Bernard Tapie as part of a private arbitration process to settle a dispute with state-owned bank Credit Lyonnais over the botched sale of Adidas in the 1990s. It is seen by many in France as an example of the cozy relationship between big money and big power in France.
NEW YORK, N.Y. - Ralph Lauren Corp. reported a 35 per cent increase in fourth-quarter profit as the luxury retailer benefited from lower cotton prices and cost controls.
But the seller of Polo and other brands saw its stock fall Thursday because its revenue fell below Wall Street expectations amid poor weather, economic challenges in the U.S. and abroad and the move to eliminate some businesses to focus on the most profitable ones.
TORONTO - TD Bank Group (TSX:TD) reported a second-quarter profit of more than $1.7 billion and growth in most of its major sectors, including its main Canadian and U.S. banking operations.
The bank's overall net income was up two per cent from a year ago at $1.723 billion or $1.78 per share while its adjusted earnings were $1.8 billion, or $1.90 per diluted common share.
NEW YORK, N.Y. - Stock prices are slightly lower at midday on Wall Street after manufacturing contracted unexpectedly in China this month.
The Dow Jones industrial average was down 10 points at 15,297 as of noon (1600 GMT), a loss of 0.1 per cent. It had been down 127 points in the early going following steep losses in European and Japanese markets.
DENVER - In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill.
The Oklahoma City-based arts-and-crafts chain argues that businesses — not just the currently exempted religious groups — should be allowed to seek exception from that part of the health law if it violates their religious beliefs.
OTTAWA - A Japanese-based forestry company has won a long-running tax battle with Ottawa over how reforestation obligations should be handled when harvest rights are sold.
The Supreme Court of Canada ruled 9-0 on Thursday that passing on future liabilities for land reclamation cannot be considered taxable at the time of the sale.
Here's a look at the CEOs that received the biggest raises and the biggest pay cuts in 2012 compared with 2011, as calculated by the executive pay research firm Equilar and The Associated Press.
Whose pay rose the most:
Big U.S. companies are required to offer their shareholders a "say on pay" vote — essentially, a chance to weigh in on whether they think the CEO and other top executives are getting paid too much.
Shareholders have rejected pay packages less than 3 per cent of the time, experts estimate. The votes are non-binding, which means companies don't have to follow shareholders' wishes. But shame has proven a powerful motivator: Companies that get their pay packages rejected tend to change the way they award pay, experts say.
TORONTO - North American markets slid lower Thursday amid a plunge in Japanese markets and data that showed a contraction in Chinese manufacturing.
The S&P/TSX composite index fell 114.78 points to 12,637.72. The Canadian dollar was ahead 0.29 of a cent to 96.70 cents US.
NEW YORK, N.Y. - Clothing and accessories company Rue21 has agreed to be taken private in nearly $1 billion deal with private equity firm Apax Partners.
Shares hit an all-time high Thursday.
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VIRGINIA WATER, England - The head of the European golf tour apologized for using the term "colored" during a live television interview Thursday in which he was reacting to the spat between Tiger Woods and Sergio Garcia.
European Tour CEO George O'Grady said that "most of Sergio's friends are colored athletes in the United States."
MONACO, Monaco - Finishing fastest in both of Thursday's practice sessions for the Monaco Grand Prix isn't enough to get Nico Rosberg too excited. He knows Mercedes has yet to prove it can last the pace on race day.
The German driver clocked a time of 1 minute, 14.759 seconds to finish .318 in front of teammate Lewis Hamilton and .437 ahead of Ferrari driver Fernando Alonso in the second session. The times were generally faster than in the first session.
POLSA, Italy - Vincenzo Nibali won the individual mountain time trial in the 18th stage of the Giro d'Italia on Thursday to extend his overall lead.
The Italian finished in 44 minutes, 29 seconds on the 20.6-kilometre (12.8-mile) uphill route from Mori to Polsa for his first stage victory in this year's race. Samuel Sanchez was 58 seconds behind. Damiano Caruso was third, 1:20 behind Nibali.
BUDAPEST, Hungary - Hungarian prosecutors have indicted a Singaporean businessman known as Dan Tan and 44 Hungarians suspected of being involved in an international match-fixing conspiracy.
Chief Prosecutor Imre Keresztes said in a statement Thursday that 32 local and international matches are thought to have been manipulated by the suspects, including former and current players, referees, team owners, an agent and a coach.
JOHANNESBURG - Oscar Pistorius and Caster Semenya were left off a list of athletes to be given funding ahead of the 2016 Rio Games because neither is currently training or competing, the South African Olympic Committee said Thursday.
Pistorius, a double-amputee runner who competed at the London Games, was not on the high performance list for the next Olympics and Paralympics after his decision to stay away from competition for the rest of the year to focus on defending himself against a murder charge for the shooting death of his girlfriend in February.
GENEVA - An independent panel will examine allegations that cycling's governing body was complicit in Lance Armstrong's doping, UCI President Pat McQuaid said Thursday.
Senior UCI and World Anti-Doping Agency officials will meet in Russia next week to discuss potential appointments to a three-member expert panel, McQuaid told The Associated Press.
LONDON - Wrestling's governing body has "reacted well" and made the necessary changes to give the sport a chance of saving its place in the Olympics, IOC President Jacques Rogge said.
In an interview with The Associated Press, Rogge said FILA has tackled the issues that led the IOC executive board in February to remove wrestling from the list of core sports for the 2020 Games.
SASKATOON - Dale Hunter watched from the sidelines as his London Knights fell just short in last season's MasterCard Memorial Cup final.
Having just finished an up-and-down stint behind an NHL bench with the Washington Capitals, Hunter sat in the stands in Shawinigan, Que., as the host Cataractes defeated London 2-1 in a memorable Canadian Hockey League championship game.
MANCHESTER, England - Rio Ferdinand has signed a new one-year contract with Manchester United that will take him into a 12th season at Old Trafford.
The 34-year-old defender retired from international football last week to concentrate on his club career.
MIAMI - LeBron James caught the inbounds pass, changed direction and immediately attacked the rim.
There was no one in his way.
SASKATOON - After watching his bloodied linemate helped from the ice, Chase De Leo did all he could to make one of his best friends feel a little better — help the Portland Winterhawks make the semifinal at the MasterCard Memorial Cup.
De Leo gave Portland the lead for good in the third and the Winterhawks scored three times in the period to defeat the Saskatoon Blades 4-2 in the tournament's final round-robin game.
OTTAWA - Paul MacLean’s few words spoke volumes about what he thought of his team’s performance in their 7-3 loss to the Pittsburgh Penguins in Game 4 Wednesday night.
In a most uncharacteristic move, the Ottawa Senators coach didn’t take a single question in his post-game scrum. Instead, he held up the score sheet and said: “I think everything’s right here. It’s 7-3. See you in Pittsburgh. We’re going to Pittsburgh and we’re coming to play. Have a good night.”
OTTAWA - It's textbook media training for hockey players: don't utter a word about the next round of the playoffs until you have all four games of your current series in the bag.
It's a lesson Sidney Crosby has apparently learned well.
Sergio Garcia apologized to Tiger Woods for saying he would serve fried chicken if they were to have dinner at the U.S. Open, an ugly addition to nearly two weeks of verbal sparring.
What had been a celebration of European golf at an awards dinner south of London shifted suddenly to a racially sensitive moment involving Woods, the No. 1 golfer in the world and the only player of African-American heritage on the PGA Tour.
TORONTO - Don Cherry says the wrong man has been removed from the Vancouver Canucks organization.
Hours after it was announced that head coach Alain Vigneault was fired, Cherry said Wednesday during the Coach's Corner segment on "Hockey Night in Canada" that Vancouver's general manager Mike Gillis is the reason for the team's struggles and early exit from the post-season.
TORONTO - Mark Buehrle provided the quality start and slugger Jose Bautista came through with the dramatics in Toronto's first walk-off victory of the season Wednesday at Rogers Centre.
Bautista tied it in the ninth inning with his second homer of the game and drove in the winning run in the 10th to give the Blue Jays a 4-3 victory over the Tampa Bay Rays. Bautista lashed an 0-2 pitch from Kyle Farnsworth to right field that brought Colby Rasmus home from third base for the victory.
VANCOUVER - Vancouver Canucks general manager Mike Gillis is in no rush to name a replacement for fired coach Alain Vigneault.
"I don't have a timeframe," said Gillis during a news conference Wednesday after Vigneault's dismissal was confirmed. "We just are focused on getting the right person, moving ahead and executing a plan that we have that is going to get us back to the level that we expect."
TORONTO - CBC-TV is resurrecting its campy competition series "Battle of the Blades."
The public broadcaster says eight rugged hockey players and eight figure skating stars will shimmy their way through ice dancing contests as part of the upcoming 2013-2014 broadcast lineup.
CHICAGO - Brian Urlacher wasn't sure how dominant he could be any longer, so he's calling it a career after 13 seasons with the Chicago Bears.
And what a career it was: