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More interest rate hikes needed despite slowing US inflation, Fed officials say

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Slowing US inflation may have opened the door for the Federal Reserve to temper the pace of coming interest rate hikes, but policy-makers left no doubt they will continue to tighten monetary policy until price pressures are fully broken. A US Labor Department report Wednesday showing consumer prices didn’t rise at all in July compared … Read more

Alberta drops plan to force online university to move employees to Athabasca

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Athabasca University campus with the town of Athabasca and Athabasca River in the background.Blaise MacMullin The Alberta government has backed off on its threat to cut funding to Athabasca University unless the school agrees to relocate hundreds of employees to the small town that shares its name, with the minister in charge of post-secondary education … Read more

Unifor elects Lana Payne to succeed Jerry Dias as president

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Newly elected Unifor national president Lana Payne at the union’s national convention in Toronto on Aug. 10.Christopher Katsarov/The Globe and Mail Lana Payne, a former journalist who built her career in labor activism in the Atlantic provinces, was decisively elected as the new leader of Unifor, replacing beleaguered former union head Jerry Dias, after a … Read more

US climate bill sets stage for trade fight with Canada over digital sales taxes

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Finance Minister Chrystia Freeland speaks to reporters before heading to Question Period at the House of Commons on Parliament Hill in Ottawa on June 23.Justin Tang/The Canadian Press When the United States Senate passed the Inflation Reduction Act earlier this week, Canadian political and industry leaders were excluded by the legislation’s climate provisions, which seem … Read more

The US Senate just passed a historic climate bill. What you need to know about the Inflation Reduction Act

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US Senate Majority Leader Chuck Schumer walks into the Radio TV gallery to speak to the media after the 51-50 vote passed the Inflation Reduction Act of 2022, on Capitol Hill in Washington, DC, on August 7.KNOW CEDENO/Reuters After months of negotiations, the US Senate passed new legislation focused on reducing carbon emissions and steering … Read more

Grocery store owner Metro posts 9% profit gain as rising inflation hits food costs

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Grocery store owner Metro Inc.’s profits grew by 9 per cent in the third quarter and sales rose slightly compared to the same period last year, even as lifting restrictions have caused some Canadians to venture out to restaurants more often. The Montreal-based retailer, which owns store chains including Metro, Food Basics and Super C, … Read more

Trump fires back with video as supporters rush to former US president’s defense after FBI executes search warrant

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Former US President Donald Trump arrives at Trump Tower the day after FBI agents raided his Mar-a-Lago Palm Beach home, in New York City on Aug. 9.DAVID DEE DELGADO/Reuters Not long after FBI agents searched his Mar-a-Lago home Monday, Donald Trump unveiled a new video that casts him as the best person to once again … Read more

Food inflation in Canada’s north makes an already dire situation more vulnerable

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Iced tea for sale at the Northmart grocery store in Iqaluit, Nunavut, on July 28.CARLOS OSORIO/Reuters In Canada’s remote north, residents have long paid dearly for food, and rising prices have worsened an already dire situation, exposing the vulnerability of one of the world’s biggest exporters of grains and meat. Communities in Nunavut – the … Read more

Inflation data this week take on ‘a Super Bowl’ level of importance. Plus, what a small-cap fund manager is buying and selling

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A rally in US stocks that has powered on despite skepticism from Wall Street faces a reality check this week, as key inflation data threaten to shut the door on expectations of a dovish shift from the Federal Reserve. The S&P 500 has walked a tightrope this summer, rising 13 per cent from its mid-June … Read more

Stephen Harper’s endorsement shows no boost for Pierre Poilievre, new poll suggests

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Federal Conservative leadership candidate Pierre Poilievre holds a campaign rally in Toronto on April 30.Chris Young/The Canadian Press Stephen Harper’s endorsement of Pierre Poilievre for the Conservative Party leadership may have soured some voters on the Ottawa MP, a new poll suggests. The former Conservative prime minister recently said Mr. Poilievre is his preferred choice, … Read more