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.
BANGKOK - World stock markets were mixed Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
The Fed is conducting its third round of massive bond purchases known as quantitative easing to help drive down interest rates and spur lending. But recently improving data on the U.S. economy has led to speculation that it might consider scaling back the program or winding it down earlier than expected.
PARIS - Here's how the struggling French economy stacks up compared to Germany's and Britain's.
GROSS DOMESTIC PRODUCT (2012)
PARIS - The man charged with reviving France's shrinking economy and attracting businesses to invest there is gaining a reputation for doing the opposite.
As the country's first-ever minister for industrial renewal, Arnaud Montebourg has told the world's largest steelmaker it is not welcome in France; exchanged angry letters with the head of an American tire company he was supposedly wooing; and scuttled Yahoo's offer to buy the majority of a video-sharing website.
NEW DELHI - Chinese Premier Li Keqiang told Indian business leaders Tuesday that developing stronger economic ties between their two nations would have huge benefits for both sides.
Li spoke a day after holding meetings with Indian Prime Minister Manmohan Singh during which the two leaders played down a recent border dispute and stressed the aim of forging deeper co-operation.
NEW YORK, N.Y. - The Small Business Administration says it has lined up pledges from more than 120 banks to increase lending to veterans.
The agency said Tuesday it's starting a program, the SBA Veteran Pledge Initiative, aimed at increasing lending to veteran-owned businesses by 5 per cent a year for the next five years. The 20 major banks known as SBA National Lending Partners are making the pledge along with about 100 regional banks across the country. The program is expected to help an additional 2,000 veterans get loans totalling $475 million over the life of the program, the SBA said.
LONDON - Official figures show that consumer price inflation in Britain eased in April, largely on the back of lower fuel prices and airfares.
The Office for National Statistics said Tuesday that the annual rate fell to 2.4 per cent in April from 2.8 per cent the previous month. The fall was bigger than anticipated — the consensus in the markets was for a more modest fall to 2.6 per cent.
MACAU, Macau - Goldman Sachs has sold its remaining stake in China's biggest commercial lender for $1.1 billion.
A person familiar with the deal said Tuesday that Goldman Sachs Group Inc. sold just under 1.6 billion shares of state-owned Industrial & Commercial Bank of China Ltd. The person was not authorized to discuss Monday's sale publicly and asked not to be identified.
LONDON - The chief executive of security firm G4S is to retire after a tumultuous year that saw the company fail to fulfil its Olympic contract.
The company said Tuesday that Nick Buckles will be replaced by Ashley Almanza, a senior executive from the oil and gas company BG Group.
HARTFORD, Conn. - Gov. Dannel P. Malloy and House Speaker Brendan Sharkey are speaking about tourism at a Hartford conference highlighting Connecticut's tourism marketing efforts.
The event will be held Tuesday at the Connecticut Convention Center. It is expected to include a presentation by the state's marketing team of the impact of Connecticut's "Still Revolutionary" campaign.
WASHINGTON - The Senate Judiciary Committee hopes to nail down an elusive compromise on high-tech visas and may punt a controversy over gay marriage to the full Senate as it makes final drafting decisions on immigration legislation that grants a shot at citizenship to millions living in the country illegally.
The high-tech issue involves a negotiation at arm's length between industry, which relies on ever-increasing numbers of skilled foreigners, and organized labour, which represents American workers, according to lawmakers and officials close to the talks.
WASHINGTON - The Senate is debating cuts to the federal crop insurance program as it considers a massive farm bill this week.
The Obama administration said Monday it wants to see more cuts to agriculture subsidies and crop insurance in the legislation, which would cost almost $100 billion a year over five years and would set policy for farm programs and food aid.
BANGKOK - The price of oil rose toward US$97 per barrel Tuesday, but gains were checked as investors waited for the Federal Reserve's latest views on the U.S. economy.
Benchmark crude for June delivery was up 16 cents to $96.87 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 69 cents to close at $96.71 on Monday.
SAN FRANCISCO - Yahoo's CEO is making a $1.1 billion bet on the online blogging forum Tumblr as Marissa Mayer tries to make a former Internet icon cool again.
The deal announced Monday is Mayer's boldest move since she left Google 10 months ago to lead Yahoo's latest comeback attempt. It marks Yahoo's most expensive acquisition since it bought online search engine Overture a decade ago for $1.3 billion in cash and stock.
BANGKOK - Asian stock markets struggled to post gains Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program.
The Fed is currently conducting the third round of massive bond purchases known as quantitative easing to help drive down interest rates and spur lending. But recently improving data on the U.S. economy has led to speculation that the Fed might consider scaling back the program or winding it down earlier than expected.
LOS ANGELES, Calif. - Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt.
The rate of credit card payments at least 90 days overdue fell to 0.69 per cent in the first quarter from 0.85 per cent a year earlier — drop of nearly 19 per cent, credit reporting agency TransUnion said Tuesday.
TIMIKA, Indonesia - Rescuers recovered another four bodies from a collapsed underground room at a giant U.S.-owned gold and copper mine in Indonesia, bringing the confirmed death toll to 21, mine officials said Tuesday. Seven others were believed buried under the rubble.
The Big Gossan underground training facility at the PT Freeport Indonesia mine collapsed last week when 38 workers were undergoing safety training. Ten injured miners were rescued.
WASHINGTON - A Treasury official says the department told the White House twice that the IRS was preparing to make public its targeting of conservative political groups.
The official said Monday that Treasury told the White House in late April about a possible speech in which IRS official Lois Lerner would make a public apology and that outgoing Acting IRS Commissioner Steven Miller expected to be asked about the issue during congressional testimony. However, the official said Treasury did not give the White House advance warning that Lerner planned to address the issue during a May 10 conference, which she ultimately did.
WASHINGTON - Treasury Secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time before the U.S. Treasury is faced with the prospect of defaulting on the national debt.
In a letter to congressional leaders, Lew said that he would tap the civil service retirement and disability fund and a similar fund that covers retired postal workers. The law allows him to remove investments from these funds to clear room for more borrowing until Congress votes to raise the debt limit
HONOLULU, Hawaii - Organizers of an annual conference for people who manage more than $3 trillion in public sector pension funds in the U.S. and Canada say a significant number of administrators are skipping this year's meeting in Hawaii to avoid the perception they're wasting money by heading to the island paradise.
Roughly 650 people are coming to this year's weeklong National Conference on Public Employee Retirement Systems, compared with about 1,000 attendees at last year's meeting in New York, executive director Hank Kim said Monday.
NEW ORLEANS - A federal judge has dismissed a charge that is the backbone of the case against a former BP executive accused of concealing information from Congress about the amount of oil spewing in 2010 from the company's blown-out well in the Gulf of Mexico.
Defence attorney Reid Weingarten called it a huge victory for David Rainey, who was BP's vice-president of exploration for the Gulf.
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SASKATOON - After seeing their three-goal lead evaporate, the Portland Winterhawks' quick-strike offence ensured the race for the MasterCard Memorial Cup title is still wide open.
Derrick Pouliot and Chase De Leo scored 23 seconds apart in the third period Monday as Portland picked up its first win at the tournament with a 6-3 victory over the London Knights.
DENVER - Hall of Fame goalie Patrick Roy is reportedly on the verge of being the next head coach of the Colorado Avalanche.
A report posted on the Denver Post's website Monday night says Roy's younger brother, Stephane Roy, leaked the impending announcement.
BALTIMORE - Vernon Wells doubled in the tiebreaking run in the 10th inning and the New York Yankees hit four solo homers in a 6-4 victory over the Orioles on Monday night, extending Baltimore's losing streak to six games.
New York trailed 4-3 in the ninth before Travis Hafner homered with one out on a 3-1 pitch from Jim Johnson, who has blown three straight save opportunities after converting a franchise-record 35 in a row. All three of those botched saves have come during Baltimore's current skid.
DETROIT - The young Detroit Red Wings have made the mighty Chicago Blackhawks look vulnerable, beating them two straight times to gain an advantage in their last playoff matchup as Western Conference rivals.
Gustav Nyquist and Drew Miller scored 31 seconds apart midway through the second period and Pavel Datsyuk restored a two-goal lead in the third to help Detroit beat the Chicago Blackhawks 3-1 Monday night and take a 2-1 lead in the second round series.
CHARLOTTE, N.C. - Charlotte Bobcats owner Michael Jordan is changing his team's name to the Hornets, said a person familiar with the situation.
The person said Jordan will detail the timetable for the change to be completed at a press conference the Bobcats have scheduled for Tuesday. The person spoke to The Associated Press Monday on condition of anonymity because the name change has not been publicly announced.
INDIANAPOLIS - Pacers forward David West is expected to play Game 1 of the Eastern Conference finals at Miami, despite an injured right leg.
Team doctors held West out of Monday's practice with what coach Frank Vogel described as a calf strain or lower leg strain. He did shoot around with his teammates after practice ended. Vogel said doctors thought it would be best to give West a day off.
NEW YORK, N.Y. - Cincinnati Reds ace Johnny Cueto has been activated from the 15-day disabled list, and he is set to make his first start in more than a month on Monday night.
The Reds optioned infielder Neftali Soto to Triple-A Louisville on Monday so Cueto can face the New York Mets.
CHICAGO - The Boston Red Sox have activated relief pitcher Andrew Bailey from the 15-day disabled list before their game Monday against the Chicago White Sox.
Bailey had been out since April 29 with right biceps inflammation. He threw 17 pitches in a rehab assignment Saturday at Triple-A Pawtucket.
TORONTO - R.A. Dickey and the Jays found the win column, notching a valuable victory against an American League East opponent, but remain very much a work in progress.
Toronto needed Tampa Bay to help its cause Monday, with Rays reliever Josh Lueke walking four — one intentionally — in an ugly seventh inning that propelled the Jays to a 7-5 win on a sun-splashed Victoria Day matinee.
GREENBURGH, N.Y. - Don't judge the New York Rangers by the scores of their two losses to the Boston Bruins.
According to coach John Tortorella, the Rangers played much better in the Game 2 blowout than in their overtime defeat in the series opener.
Looks like Skylar Diggins will have a new ride when she goes to Tulsa to join the Shock.
The former Notre Dame star tweeted her thanks to sports agency Roc Nation, backed by rap superstar Jay-Z, along with photos of a new white Mercedes she said the agency surprised her with.
SASKATOON - In most other years, London Knights forward Max Domi would probably garner more attention at the MasterCard Memorial Cup.
The son of former tough guy Tie Domi is expected to be taken in the first round of next month's NHL draft, but with the three top North American-based prospects all playing at the Credit Union Centre, the 2013 edition of Canadian Hockey League's showcase event is far from normal.
OTTAWA - Craig Anderson has returned to form just in time to give the Ottawa Senators a chance against the top seed in the Eastern Conference.
Anderson was a pivotal part of Ottawa's 2-1 double-overtime win over Pittsburgh on Sunday that cut the Penguins' lead to 2-1 in the best-of-seven second-round playoff series.
TORONTO - Given his numbers at triple-A Buffalo, Anthony Gose wasn't expecting a call from the Blue Jays.
When it came, he still didn't quite believe it.
TORONTO - It appears Bryan Colangelo is out as president and general manager of the Toronto Raptors, but he could be staying with the team in another capacity.
According to multiple media reports, the Raptors are negotiating with Colangelo to take on a corporate, non-basketball role with the team.
DUBLIN, Ohio - Guan Tianlang, the 14-year-old Chinese amateur who made history at Augusta National, is bringing his game to Jack Nicklaus' backyard.
Guan, who last month became the youngest player to make the cut in a major championship when he finished 58th at the Masters, has accepted an exemption to play at the Memorial Tournament next week.
PHILADELPHIA - Freddy Galvis and Erik Kratz each homered off closer Aroldis Chapman in the bottom of the ninth innings Sunday, rallying the Philadelphia Phillies past the Cincinnati Reds for a stunning 3-2 victory.
Chapman (3-2) blew his second straight save opportunity after converting his first eight chances this season.
SASKATOON - After being swept in the first round of the Western Hockey League playoffs, many questioned whether the host Saskatoon Blades even belonged at the MasterCard Memorial Cup.
They emphatically put those doubts rest with a gritty win over the Canadian Hockey League's top team.
OTTAWA - As good-luck charms go, fibreglass shrapnel isn't high on most hockey players' lists.
But it seemed to do the trick for Colin Greening, whose double-overtime heroics lifted the Ottawa Senators to a 2-1 win over the Pittsburgh Penguins on Sunday in Game 3 of their Eastern Conference semifinal series.