DEVELOPING BoC to announce interest rate decision today as many forecasters anticipate rate cut
To cut or not to cut -- that is the question the Bank of Canada will answer this morning as it announces its latest interest rate decision.
Five things to watch for in the Canadian business world in the coming week:
Great-West Lifeco will kick off the major insurers' Q2 earnings on Tuesday, followed by Manulife and Sun Life on Wednesday. A Great-West subsidiary recently signed a $4.45-billion deal to buy Prudential Financial Inc.'s retirement business, as the company aims to deepen its presence in the U.S. market.
BCE Inc. will hold a Q2 earnings conference call on Thursday. The telecom company, along with rivals Rogers Communications and Telus, recently purchased hundreds of licences for a key band of 5G wireless spectrum from the federal government, which auctioned off $8.9 billion in spectrum.
Magna International Inc. will hold a Q2 conference call on Friday. The Ontario-based auto parts manufacturer recently inked a deal to acquire Swedish automotive safety technology firm Veoneer for US$3.8 billion as part of its goal of becoming a global leader in advanced driver assistance technology.
Statistics Canada is scheduled to release its Labour Force Survey for July on Friday. The agency previously reported that the economy added 230,700 jobs in June -- all of them part-time -- as restrictions put in place to slow the pandemic were rolled back across the country.
Western Forest Products will hold a Q2 earnings call on Friday. Rivals Resolute Forest Products and West Fraser Timber Co. both reported strong earnings last week, thanks in part to soaring lumber prices resulting from a boom in home renovation projects.
This report by The Canadian Press was first published August 1, 2021.
To cut or not to cut -- that is the question the Bank of Canada will answer this morning as it announces its latest interest rate decision.
An Italian court re-convicted Amanda Knox of slander on Wednesday, even after she was exonerated in the brutal 2007 murder of her British roommate while the two were exchange students in Italy.
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Car 14 is a luxury passenger car that once made regular runs from London to Port Stanley starting in 1917.
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A CP24 camera caught the moment a driver frantically got out of her car as it was being dragged by a truck on Avenue Road Wednesday afternoon.