Economy

City hall tax cuts won’t fix business growth wiped out by COVID

The big number 69,990 the number of business establishments in Toronto according to the most recent edition of city hall’s annual employment survey. The number has dropped by 6,570 since the start of the pandemic. Toronto city hall has posted some new numbers about the state of the city’s business economy. They’re bad. Real bad. …

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Posthaste: So long, seller’s market? Rate hikes are changing the housing game in a big way

Good Morning! The chill that swept over Canada’s housing market when the Bank of Canada began hiking interest rates earlier this year has turned several degrees colder. Some of Canada’s priciest markets, Toronto, Vancouver, Montreal, Ottawa and Hamilton, saw sales drop significantly in May, for many the third month of decline. “Clearly the Bank of …

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Fed GDP tracker shows the economy could be on the brink of a recession

Federal Reserve Chairman Jerome Powell testifies during the House Financial Services Committee hearing titled Monetary Policy and the State of the Economy, in Rayburn Building on Wednesday, March 2, 2022. tom williams | CQ-roll Call, Inc. | Getty Images A widely followed Federal Reserve gauge is indicating that the US economy could be headed for …

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Money is top stressor for Canadians amid high inflation, survey says

TORONTO- A new survey has found that Canadians are feeling stressed from soaring inflation, particularly from higher grocery prices. The FP Canada Financial Stress Index survey says that 38 per cent of respondents cite money as being the biggest source of stress for the fifth time in eight years, nearly twice as much as personal …

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Paul Krugman Warns Crypto Craze Reminds Him of Housing Bubble

Economist Paul Krugman compared the cryptocurrency boom to the mid-2000s housing bubble. Crypto has become so valuable and popular that people wrongly assume it’s worth something, he said. The Nobel laureate warned investors have “gone from the Big Short to the Big Scam.” Loading Something is loading. Paul Krugman compared the cryptocurrency craze to the …

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‘Yellowstone’ boom pits lifetime Montana residents against wealthy newcomers

“Yellowstone” has become one of the hottest streaming shows. Filmed on location in the West, much of it in Montana, the scripted drama tells the story of a modern day ranch owner John Dutton, played by Kevin Costner, and his family dynasty. The storyline is deliciously captivating, with back-stabbing and family intrigue, high stakes power …

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Food prices are a big worry for three-quarters of Britons, survey finds | Cost of living crisis

The cost of food is a big worry for the vast majority of Britons while the number of people who skip meals or use a food bank has jumped in the past year, according to the Food Standards Agency (FSA). Its research shows food prices are a significant future concern over the next three years …

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CEOs are enjoying huge paydays while their workers struggle to pay bills

The typical low-wage worker’s pay didn’t keep pace with inflation last year at more than a third of the companies reviewed by the Institute for Policy Studies, a progressive think tank. IPS’ survey included the 300 publicly traded companies with the lowest median pay for workers. Consumer prices have spiraled up to 40-year highs above …

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Gas prices climb 5 cents overnight, Americans are paying nearly $2 more from just one year ago

Economist Steve Moore weighs in on inflation and record-high gas prices. Gas prices are still on the rise and could soon reach $5 per gallon, a figure that has forced some Americans to rethink their leisure travel. The national average gas price climbed five cents Monday night into Tuesday and 10 cents since Saturday, now …

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Russia calls for coordinated BRICS action against global economic risks

Russian Finance Minister Anton Siluanov speaks to reporters after talks with major Russian firms representatives in Moscow, Russia August 24, 2018. REUTERS/Tatyana Makeyeva Register now for FREE unlimited access to Reuters.com Register June 6 (Reuters) – Russia, hit by Western sanctions, has called on the BRICS group of emerging economies to coordinate measures to stabilize …

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