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.
TOKYO - Japan reports trade deficit jumped to $8.6 billion in April as import costs surged.
NEW YORK, N.Y. - Microsoft is the last of the three big video game console makers to unveil its latest gaming system. The unveiling comes nearly eight years after the Xbox 360 went on sale. It follows last fall's debut of Nintendo's Wii U and a preview in February of the upcoming PlayStation 4 from Sony.
Each machine has a set of features designed to draw gamers away from rival consoles. There's one thing all three have in common, though: They are about more than gaming and include entertainment services such as television, movies and music.
REDMOND, Wash. - Microsoft thinks it has the one.
The company unveiled the Xbox One, an entertainment console that wants to be the one system households will need for games, television, movies, sports and other entertainment. It will go on sale later this year, for an undisclosed price.
MONTREAL - Three years of negotiations between Resolute Forest Products and environmental groups aimed at protecting Canada's boreal forest have ended in failure, with talks breaking down over how much land to set aside for conservation.
Environmentalists accused Resolute of not living up to its promises to protect habitat for caribou while also ensuring the livelihoods of communities that depend on the forest industry.
TAMPA, Fla. - Jamie Dimon, the CEO and chairman of JPMorgan Chase, easily survived a vote Tuesday that would have called on him to give up his role as chairman of the nation's largest bank. But shareholders sent a message that the bank needs better oversight by giving only narrow approval to three of the bank's board members.
It was a mixed verdict in a closely watched test of corporate governance at U.S. companies. Dimon emerged in a stronger position after the proposal to split his roles won just 32 per cent of the shareholder vote, less than the 40 per cent a similar proposal got last year.
MINNEAPOLIS - Best Buy Co. on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.
Its adjusted earnings beat Wall Street expectations, as cost cuts helped offset tough pricing competition during the quarter. But shares fell over 4 per cent Tuesday.
DETROIT - Volkswagen is replacing the fuel tank covers on more than 200,000 of its diesel vehicles sold in the U.S. and Canada to remind owners to fill their tanks with diesel — not gasoline.
The company said Tuesday it's taking action after getting a small number of reports of drivers filling diesel tanks with gas. Using the wrong fuel can damage the engine.
NEW YORK, N.Y. - Home Depot Inc.'s first-quarter net income rose 18 per cent, thanks to the ongoing housing recovery, despite a chilly and wet spring.
Its quarterly results topped Wall Street expectations, and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts Tuesday. The company's shares rose to a 52-week high.
JANSEN, Sask. - A freight train jumped the tracks in southeastern Saskatchewan Tuesday and spilled more than 91,000 litres of oil.
The accident happened as the Canadian Pacific Rail (TSX:CP) eastbound train was rolling through an area near the village of Jansen, about 150 kilometres southeast of Saskatoon.
WASHINGTON - David Jacobson is leaving his post as U.S. ambassador to Canada in July to become vice-chairman of one of Canada's largest banking groups.
Jacobson, 61, is joining BMO Financial Group (TSX:BMO) in October. He'll be based in Chicago, his hometown, where BMO's main U.S. operations are headquartered.
Note to readers: This is a corrected story. An earlier version said Jacobson would be joining the bank's board of directors.
WASHINGTON - Twitter is booming as a social media destination for teenagers who complain about too many adults and too much drama on Facebook, according to a new study published Tuesday about online behaviour. It said teens are sharing more personal information about themselves even as they try to protect their online reputations.
Teens told researchers there were too many adults on Facebook and too much sharing of teenage angst and inane details like what a friend ate for dinner.
WASHINGTON - The Senate voted Tuesday to keep a $400 million annual cut — or roughly a half of 1 per cent — to the food stamp program as part of a major five-year farm bill.
Food stamps now cost almost $80 billion annually and are used by 1 in 7 Americans. The House and Senate have differed sharply on how much the domestic food aid should be cut, with the House version of the farm bill proposing to cut five times more than the Senate bill and change eligibility rules for recipients.
WASHINGTON - The Senate dragged Apple Inc., the world's most valuable company, into the debate over the U.S. tax code Tuesday, grilling CEO Tim Cook over allegations that its Irish subsidiaries help the company avoid billions in U.S. taxes.
Cook said the subsidiaries have nothing to do with reducing its U.S. taxes, a message he struggled to convey to the Senate Permanent Subcommittee on Investigations.
WHITEHOUSE STATION, N.J. - Merck & Co Inc. said it will repurchase $5 billion worth of its common stock under an accelerated share repurchase agreement with Goldman Sachs & Co.
Merck, the world's third-largest drugmaker, said the buyback program is part of a previously announced $15 billion share repurchase program.
Shareholders at JPMorgan Chase voted to let Jamie Dimon, the chairman and CEO of the nation's largest bank, keep both his jobs Tuesday. Dimon also received strong support to be re-elected to the bank's board.
Three directors — James Crown, David Cote and Ellen Futter — received the backing of less than 60 per cent of shareholders. Shareholder advisory firms had urged that shareholders withhold support for those three, who had served on the bank's risk policy committee when the bank suffered a surprise $6 billion trading loss.
JPMorgan's Dimon survives shareholder referendum
VANCOUVER - BioteQ Environmental Technologies Inc. (TSX:BQE) said Tuesday that it has signed a contract with Teck Resources Ltd. (TSX:TCK.B) for a pilot test of its selenium removal technology.
Under the agreement, BioteQ will construct a pilot scale plant for field testing.
TORONTO - Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (12,742.43 up 129.38 points):
TORONTO - The Toronto Port Authority is putting off plans to fill in an area of Lake Ontario near Billy Bishop Airport because it's unclear if the material would be able to support a proposed runway extension.
Porter Airlines and city council are trying to extend the runway at Billy Bishop Toronto City Airport by 168 metres at each end to allow for the use of jets.
NEW YORK, N.Y. - Prime-time viewership numbers compiled by Nielsen for May 13-19. Listings include the week's ranking and viewership.
1. "NCIS," CBS, 18.79 million.
LuAnn LaSalle, The Canadian Press
at 18:24 on May 06, 2013, EDT.
MONTREAL - Consumers will get more content and Bell will play fair with its competitors, the company promised as it made a revised sales pitch to the CRTC seeking approval for its $3.4-billion takeover of Astral Media that was turned down last year.
George Cope, chief executive of Bell parent company BCE Inc., said Monday the merger will be good for Canadians and the industry after a warning from the CRTC that the burden rests with Bell and Astral to prove its case.
"We will be investing more in Canadian content," Cope told the Canadian Radio-television and Telecommunications Commission hearing.
"We will bring more competition to Quebec," he said, where a combined Bell-Astral would compete with dominant TV broadcaster Quebecor Inc. (TSX:QBR.B) and with radio stations owned by Cogeco (TSX.CCG).
The CRTC killed the deal last fall, saying it wasn't in the best interests of Canadians and would have made Bell too dominant, especially in the TV market.
CRTC chairman Jean-Pierre Blais said the revised deal will be evaluated on its own merits, but told Bell (TSX:BCE) and Astral (TSX:ACM.B) that the burden "rests squarely" on the two companies to prove their case.
"We will determine if this transaction would benefit Canadians, as well as the Canadian broadcasting system," Blais said at the opening of the hearing.
A bigger Bell wouldn't make negotiations for content difficult and isn't setting out to raise wholesale prices for distributors that carry its channels and programming, Cope said in response to concerns raised by Blais.
"We expect that, just like everyone, the competitive playing field to be level. We expect others to deal with us as we deal with them."
Cope noted that TV distributors can raise their prices on their own and for their own reasons.
He told the CRTC the application to buy Astral is quite different from the last proposal.
"We came to the important conclusion that for us to move forward, we would divest a significant number of English and French television properties, to ensure our combined market share is within acceptable thresholds," Cope said.
The new plan would see Bell sell all of Astral's English language specialty services and one of its English pay TV services, the Family channel. It would keep eight of Astral's specialty and pay channels including pay TV channel, The Movie Network and French language pay TV station, Super Ecran.
Bell also said it will sell 10 of Astral's 84 radio stations and will acquire less than half of Astral's French language specialty services.
The telecom giant also said it's making a commitment to keep all local television stations open and plans to increase air play for emerging Canadian artists to at least 25 per cent on relevant radio stations.
Astral CEO Ian Greenberg told the commission he's concerned about the growth of online like Netflix and added a combined Bell-Astral would be better able to deal with that kind of competition.
"And Netflix is just one prominent example of the kind of scale being brought to bear on Canada's industry _ challenges to our business that we believe we must meet head-on by expanding our own scope and scale," Greenberg said.
"This is what this transaction enables."
The hearings in front of the Canadian Radio-television and Telecommunications Commission will continue all week.
TORONTO - Rays manager Joe Maddon changed course Tuesday, saying he has no problem with the way shortstop Yunel Escobar celebrates home runs.
Escobar, who played for Toronto last season, drew loud jeers after he hit a homer in the ninth inning of Monday's 7-5 loss to the Blue Jays, and then made an exaggerated safe sign as he crossed home plate.
BOSTON - The NFL will celebrate its 50th Super Bowl in northern California, where its newest, most high-tech venue is being built.
That makes South Florida, in the midst of a spat over expensive stadium renovations, a loser for the 2016 game.
MONTREAL - A stretch of road in front of the stadium where he began his Hall of Fame career has been renamed in honour of former Montreal Expos catcher Gary Carter.
Signs indicating Rue Gary-Carter were already in place on Tuesday as municipal officials announced the renaming of Faillon Street West after the most popular player in the history of the defunct National League baseball club.
MONTREAL - There will be much to get used to in the coming months for former amateur world boxing champion Artur Beterbiev.
The 28-year-old light heavyweight will begin his professional career in Canada after signing a three-year deal with Montreal promoter Yvon Michel.
IRVING, Texas - Tony Romo pointed here and there, showing receiver Dez Bryant the best way to use a block on the first day of off-season practice.
That's about what he can do for now.
With the Grey Cup in on home turf this year, the Saskatchewan Roughriders would very much like to headline rather than just host.
So it isn't surprising they tapped the piggy bank to land some marquee players that might help make that happen.
DETROIT - Jimmy Howard's cat-quick reflexes in net and easygoing nature out of it are big reasons the Detroit Red Wings are on a roll.
Howard has held top-seeded Chicago to only one goal in two straight games, lifting seventh-seeded Detroit to a 2-1 series lead. He was the star of the end-to-end, high-paced Game 3 the Red Wings won 4-1 on Monday night, when he became their first goalie to face at least 40 shots without giving up more than a goal in the playoffs since Greg Stefan did it 1987.
WINNIPEG - The main event on a June 15 UFC pay-per-view card in Winnipeg has been scrapped.
The UFC confirmed a bantamweight title defence by Renan Barao, who was to face No. 4 contender Eddie Wineland, is now off because Barao was injured during training.
OTTAWA - The Ottawa Senators have every intention of making this a series.
The Senators trail the Pittsburgh Penguins 2-1 in their Eastern Conference semifinal heading into Game 4 Wednesday at Scotiabank Place. After a big win in Game 3 — another resilient performance in a season full of them — the Senators are confident they can tie the series.
Golf's two governing bodies outlawed the anchored putting stroke used by four of the last six major champions, approving a new rule that starts in 2016 and urging the PGA Tour to follow along so the 600-year-old sport is still played under one set of rules.
The Royal & Ancient Golf Club and the U.S. Golf Association adopted Rule 14-1b, which prohibits players from anchoring a club against their bodies.
TORONTO - Danny Koevermans could be back for real next week and not a moment too soon for Toronto FC.
The 34-year-old Dutch striker, who has been out for 10 months due to left knee surgery, is targeting the June 1 game against the visiting Philadelphia Union for his return.
NASHVILLE, Tenn. - The Nashville Predators have hired Phil Housley as an assistant coach to fill the spot left open by the firing of associate coach Peter Horachek after nine seasons with the franchise.
General manager David Poile announced the move Tuesday just hours after the Predators confirmed Horachek's firing in a statement posted on the franchise's website. Housley played 21 NHL seasons with eight different teams, and he just coached the United States to a gold medal at the World Junior Championships.
NEW YORK, N.Y. - Hoping their baseball success will translate to titles in another sport, the Yankees are combining with English power Manchester City to own a Major League Soccer expansion team in New York that will start play in 2015.
The team, the 20th in a league that has doubled in size in two decades, will be called New York City Football Club. It has less than two years to find a temporary home while also focusing on where it wants to build a permanent stadium.
VANCOUVER - Canadian cyclist Ryder Hesjedal is recovering from a respiratory tract infection that forced him to pull out of the Giro d'Italia.
Hesjedal's Garmin-Sharp team revealed Tuesday that the Victoria native developed an upper respiratory tract infection during the race, which he won in 2012. He has returned to his home in Girona, Spain since pulling out on Friday.
Television executives are hoping a robust bunch of story lines accompanying this year's Indianapolis 500 will help build interest in IndyCar beyond the signature race.
Rich Feinberg, ESPN's vice-president in charge of motorsports production, acknowledged Tuesday that IndyCar ratings have been "challenged in certain areas." But Feinberg says the best way for ABC-ESPN to help build the sport is through compelling story-telling.
VIRGINIA WATER, England - Tiger Woods and Sergio Garcia don't like each other, and they're making no effort to disguise their feelings.
The verbal feuding began May 11 during the third round of The Players Championship. It resumed this week on both sides of the Atlantic when Woods offered a one-word answer if he thought about contacting Garcia to put the matter to rest.
CHICAGO - Carli Lloyd is on the roster for next month's exhibition against Canada, the midfielder's first appearance with the U.S. women since breaking her left shoulder in mid-March.
Lloyd was among 21 players called up Tuesday by coach Tom Sermanni for the June 2 game in Toronto, a rematch of last summer's semifinal at the London Olympics. The Americans beat the Canadians and then defeated Japan for their third straight gold medal, with Lloyd scoring both goals in the 2-1 final.
DENVER - Patrick Roy and Joe Sakic formed a productive partnership on the ice during their playing days, leading the Colorado Avalanche to two Stanley Cup titles.
Now, Avalanche fans are hoping they're reunited again to steer the foundering franchise back to the glory days. According to reports, the Hall of Fame goaltender could possibly be in line to become the next coach.
IVREA, Italy - Benat Intxausti of Spain won the 16th stage of the Giro d'Italia on Tuesday, and favourite Vincenzo Nibali retained the overall lead as the race entered the final week.
Intxausti won in a time of 5 hours, 52 minutes, 48 seconds, along the hilly 238 kilometres (148 miles) from Valloire, France, to Ivrea beating Tanel Kangert and Przemyslaw Niemiec in a final sprint.
TORONTO - Bryan Colangelo fought "like heck" to stay on as president and general manager of the Toronto Raptors.
It was enough to save one of his jobs.