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Economy, Law & Politics

Banks lower prime rates to 5.95% after Bank of Canada move

Banks lower prime rates to 5.95% after Bank of Canada move

TORONTO — Canadian financial institutions are lowering their prime lending rates to match the decrease announced by the Bank of Canada. The central bank lowered its key interest rate by half a percentage point Wednesday to 3.75 per cent.
Stock market today: Wall Street slumps to a rare 3-day losing streak

Stock market today: Wall Street slumps to a rare 3-day losing streak

NEW YORK (AP) — U.S. stocks closed lower as more steam came out of Wall Street’s huge, record-breaking rally. The S&P 500 fell 0.9% Wednesday. It was the third loss in a row for the benchmark index, the first time that’s happened in six weeks.
BoC delivers half percentage point rate cut, says it now must keep inflation at 2%

BoC delivers half percentage point rate cut, says it now must keep inflation at 2%

OTTAWA — The Bank of Canada claimed victory against high inflation on Wednesday as it delivered a supersized interest rate cut and signalled its policy rate will likely continue falling in the coming months.
Fintrac warns of ways lawyers may be facilitating money laundering

Fintrac warns of ways lawyers may be facilitating money laundering

OTTAWA — Canada's anti-money laundering agency is warning about the key areas that lawyers could be aiding in the illicit movement of funds.
As federal workers fight office mandate, study finds remote work has climate benefits

As federal workers fight office mandate, study finds remote work has climate benefits

Federal public servants in Ottawa who work remotely contributed 25 per cent fewer emissions than those who worked only from the office, a new report suggests as a major public sector union fights against more mandated office days.
Fourth straight interest rate cut may not bring buyers back to the market just yet

Fourth straight interest rate cut may not bring buyers back to the market just yet

TORONTO — While the Bank of Canada's fourth straight cut to its key interest rate could inspire potential homebuyers to get off the sidelines, some commentators say the housing market may not see a huge spark just yet.
A look at what people are saying about the Bank of Canada's rate decision

A look at what people are saying about the Bank of Canada's rate decision

OTTAWA — The Bank of Canada cut its key policy interest rate by 50 basis points on Wednesday to bring it to 3.75 per cent (a basis point is equal to a one-hundredth of a percentage point).
Vancouver councillors call for lobbyist registry at city hall

Vancouver councillors call for lobbyist registry at city hall

Green Party Coun. Pete Fry and ABC Vancouver Coun. Lenny Zhou hold different views on how best to set up registry
New Richmond credit union to tailor services for Chinese-language customers

New Richmond credit union to tailor services for Chinese-language customers

Former Burnaby-Lougheed MLA Katrina Chen is the president of AnXin Community Savings.
Group calls for for better pay, equipment for wildfire fighters

Group calls for for better pay, equipment for wildfire fighters

OTTAWA — Last May, when Jenny Saulnier was home alone with her dog in Nova Scotia while her son and husband were at hockey, she scrolled through social media and saw there was a house fire some nine kilometres from her home, and was assured she would
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