Canada’s Economy Outperforming the U.S.

Canada's Economy Outperforming the U.S.Canada’s economy expanded at a 1.8 per cent annual pace during the last quarter, the same growth seen at the start of the year and slightly better than what economists were expecting. Statistics Canada said Friday that an increase in business investment was the biggest factor contributing to growth. Economists had been expecting a 1.6 per cent gain. The Bank of Canada, however, had been forecasting the 1.8 per cent…

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Oil Crosses $109 US on rising Concerns about Iran

Oil Crosses $109 US on rising Concerns about IranOil prices closed above $109 US a barrel Friday on fresh concerns about Iran’s nuclear program and despite evidence that demand remains weak. Retail gasoline prices in Canada and the U.S. also rose. Crude for April delivery closed at $109.77 a barrel in New York, up $1.94. Iran has rapidly ramped up production of higher-grade enriched uranium over the last few months, the UN nuclear agency said Friday in a…

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Cross-Border Shopping to Rise

Cross-Border Shopping to RiseMore Canadians plan cross-border shopping over the holiday season, according to a survey released Friday by the Bank of Montreal. The Bank’s survey found 18 per cent of those polled plan to shop in the United States this season, up five percentage points from last year. The peak American retail season begins on Nov. 25 or Black Friday, the day following American Thanksgiving. It gets its name from the fact…

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Flight Fee For U.S. Bound Canadians?

Flight Fee For U.S. Bound Canadians?Prime Minister Stephen Harper says there are better ways for Americans to raise money than to charge Canadians to get into their country. U.S. President Barack Obama wants to charge Canadians entering the U.S. by air or sea a $5.50 inspection fee, although private vehicles would be exempt. “They’re running deficits down there well over a trillion dollars a year,” Harper said Thursday. “Some 40 per cent plus of the…

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