When international travel resumes, Canada's borders and airports will be very different

Just as the 9/11 attacks did 20 years ago, the COVID-19 pandemic will transform the way people travel internationally — with hundreds of millions of dollars in new government spending planned for modernizing border security and updating public health measures at airports.

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Latest Economic News

  • Soaring utility bills alarm Europe, raise fears for winter

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    MADRID -- Wholesale prices for gas and electricity are surging across Europe, raising the prospect of increases in already-high utility bills and further pain for people who have taken a financial hit from the coronavirus pandemic. Source
  • CP lays out timeline for KCS merger; shareholders to vote in December

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    CALGARY -- Canadian Pacific Railway Ltd.'s acquisition of Kansas City Southern could be complete by next fall, the Calgary-based railway said Thursday. “That's what best case looks like, and that's what we're going to work our tails off to be able to achieve,” CP chief executive Keith Creel told analysts in a conference call, adding CP plans to submit its merger application to the U.S. Source
  • Canada Mortgage and Housing Corp. says annual pace of housing starts slowed in August

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    OTTAWA -- Canada Mortgage and Housing Corp. says the annual pace of housing starts in August slowed compared with July as the rate of new home construction continued to slow from their highs earlier this year. Source
  • Statistics Canada says wholesale sales dropped in July as lumber prices fell

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    OTTAWA -- Statistics Canada says wholesale sales fell 2.1 per cent to $70.1 billion in July, as building material and supplies sales plunged due to a drop in prices for softwood lumber. The agency says it was the second consecutive overall decline and the largest drop since April 2020. Source
  • Suncor partners with Indigenous communities to buy stake in Northern Courier Pipeline

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    Suncor Energy said on Thursday it had partnered with eight Indigenous communities to buy all of TC Energy's 15% stake in the Northern Courier Pipeline Limited Partnership. Suncor, three First Nations and five Métis communities will own a 15% stake in this pipeline asset with a value of about $1.3 billion. Source
  • Marks and Spencer blames Brexit for store closures in France

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    LONDON -- British retailer Marks & Spencer said Thursday that it will close 11 of its stores in France, mainly in Paris, as a result of fresh and chilled food supply issues related to Britain's departure from the European Union. Source
  • Asian shares mostly lower on lackluster China, Japan data

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    Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected. Shares fell in Tokyo, Shanghai, Hong Kong and Seoul but rose in Sydney. Japan reported that its exports rose 26.2% in August from a year earlier, but that was well below forecasts for a rise of over 30%, Marcel Thieliant of Capital Economics said in a commentary. Source
  • World shares mixed as Europe tracks Wall Street gains

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    Shares were higher in Europe on Thursday after a mixed day of trading in Asia, where most major benchmarks declined. Germany's DAX picked up 0.6% to 15,713.53, while the CAC 40 in Paris rose 0.8% to 6,633.67. Source
  • S&P/TSX composite posts triple-digit decline, U.S. stock markets also tumble

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    TORONTO -- Losses in the base metals sector helped lead the way lower in late-morning trading on the Toronto Stock Exchange as Canada's main stock index posted a triple-digit decline, while U.S. stock markets also fell. Source
  • Investors tense up as fears of post-election gridlock rise in Canada

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    TORONTO -- Foreign investors are growing more worried that Canada's federal election on Monday could result in a deadlock that hampers Ottawa's response to the COVID-19 pandemic and further slows the economic recovery from the crisis. Source