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New mortgage rules sending borrowers down the credit ladder to alt. lenders 

By Armina Ligaya THE CANADIAN PRESS TORONTO -Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance. As a ...

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Suncor Energy says driverless trucks will eliminate a net 400 positions

By Dan Healing THE CANADIAN PRESS CALGARY- About 400 jobs are expected to disappear at Suncor Energy Inc.’s oilsands mines in northern Alberta as it deploys driverless ore-hauling trucks to replace the ones humans operate now. “We have about 500 roles that will get eliminated through this and we’re going ...

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Legal marijuana shops could boost nearby properties: experts, study

TORONTO- While Ontario landlords are looking to ban marijuana use in their rental units and several municipalities don’t want legal cannabis stores in their neighbourhoods, experts and a U.S. study suggest that recreational pot could lift property values. Property prices for homes in Denver near shops which converted from medical ...

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Rising interest rates could negatively impact Ontario’s economy:Report

Rising interest rates could n THE CANADIAN PRESS TORONTO- Rising interest rates could have a “significant” impact on Ontario’s economy as the already ballooning household debt is projected to continue to grow, warns the province’s fiscal watchdog. The Financial Accountability Office said in a report released Tuesday that an average Ontario ...

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Bank of Canada hikes interest rate on strong economy, but underlines NAFTA risks 

By Andy Blatchford THE CANADIAN PRESS OTTAWA- The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer, but looking ahead it warned of growing uncertainties about NAFTA. The central bank pointed to unexpectedly solid economic numbers as ...

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Bank of Canada hikes interest rate to 1.25%, cites strong economic data

By Andy Blatchford THE CANADIAN PRESS OTTAWA- The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer, and to send a signal that more increases are likely on the horizon. The central bank pointed to unexpectedly solid ...

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Champagne to announce ombudsman for corporate social responsibility

By Mike Blanchfield THE CANADIAN PRESS OTTAWA – The Liberal government is planning to make good on a campaign promise to create an ombudsman with teeth to oversee the conduct of Canadian companies operating abroad. International Trade Minister Francois-Philippe Champagne is expected to announce the creation of a new position ...

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Bill Morneau voted Canadian Press 2017 business newsmaker of the year

OTTAWA- Finance Minister Bill Morneau wins Canada’s 2017 Business Newsmaker of the Year in the annual poll of the country’s newsrooms by The Canadian Press. Morneau’s challenges in the second half of 2017 kept him in the news for months, making him an easy choice for the journalists who voted ...

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