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S&P/TSX composite down more than 600 points amid hangover from Fed rate hike

S&P/TSX composite down more than 600 points amid hangover from Fed rate hike

North American markets faced a harsh reckoning Thursday following the U.S. Federal Reserve's outsize rate hike a day earlier, with Canada's main stock index dropping more than 600 points at closing time.
Basic income would ease poverty but require higher taxes, spending cuts: Study

Basic income would ease poverty but require higher taxes, spending cuts: Study

HALIFAX — A guaranteed basic income in Canada would help alleviate poverty but could also put the fiscal sustainability and labour supply of some provinces at risk, a new study published Thursday says.
Avenatti pleads guilty to fraud, tax charges in California

Avenatti pleads guilty to fraud, tax charges in California

SANTA ANA, Calif.
WestJet's new strategy will see company invest 'majority' of fleet in Western Canada

WestJet's new strategy will see company invest 'majority' of fleet in Western Canada

CALGARY — The WestJet Group says it plans to refocus its routes and fleet on Western Canada. The Calgary-based airline says in the wake of a strategic review, it has decided to shift resources to grow its presence in the West.
AP Interview: Biden says a recession is 'not inevitable'

AP Interview: Biden says a recession is 'not inevitable'

WASHINGTON (AP) — President Joe Biden told The Associated Press on Thursday that the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic , volatility in the economy and now surging gasoline prices that
Telus signs deal to buy LifeWorks in deal valued at $2.9 billion including debt

Telus signs deal to buy LifeWorks in deal valued at $2.9 billion including debt

VANCOUVER — Telus Corp. has signed a deal to buy LifeWorks Inc. valued at $2.9 billion including debt as it pushes further into employee wellness and healthcare services.
Floodwaters from Yellowstone surge through eastern Montana

Floodwaters from Yellowstone surge through eastern Montana

BILLINGS, Mont. (AP) — Montana’s largest city restarted its water plant Thursday after shutting it down amid record flooding that’s caused widespread damage in Yellowstone National Park and surrounding communities.
Extending mortgage period could keep payments in check even as rates rise

Extending mortgage period could keep payments in check even as rates rise

OTTAWA — Canadian homeowners may be in for a shock when it's time to renew their mortgages, since rising interest rates mean their monthly loan payments will likely climb higher, too.
Bank of England hikes interest rates but resists bolder move

Bank of England hikes interest rates but resists bolder move

LONDON (AP) — The Bank of England raised interest rates by a quarter-percentage point Thursday, shrugging off pressure for a bolder move to combat price increases that have pushed inflation to a 40-year high .
Statistics Canada says wholesale sales down 0.5 per cent in April to $79.8 billion

Statistics Canada says wholesale sales down 0.5 per cent in April to $79.8 billion

OTTAWA — Statistics Canada says wholesale sales fell 0.5 per cent in April to $79.8 billion as the miscellaneous goods and the building materials and supplies subsectors posted the largest declines.
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