Newspaper article The Canadian Press

--Ontario Update-

Newspaper article The Canadian Press

--Ontario Update-

Article excerpt



A leading economist says the Bank of Canada's interest rate increase could extend the current cooling-off period in the Toronto housing market in the wake of the province's new foreign buyer's tax.

But C-I-B-C's Benjamin Tal says the recent drop in home sales numbers in the Greater Toronto Area is not expected to last long-term.

Figures show foreign buyers were involved in seven per cent of residential real estate transactions in Toronto and nine per cent in York Region in the month after the foreign buyer tax was introduced.

Tal says foreign homebuyers might be pushing up prices in Toronto and surrounding areas, but Canadian demand is dominant. (The Canadian Press)



The company that handles glass recycling for Ontario's municipal blue-box collection and the Beer Store has been fined 65-thousand dollars after a worker was permanently injured.

Brampton-based NexCycle Industries pleaded guilty to a charge under the Occupational Health and Safety Act in connection with the November 2015 incident.

Labour Ministry officials say workers at the facility recycle beer bottles and cans and that beer cases are turned into bales of cardboard for recycling.

Court heard the worker was trying to clear a jam in a cardboard baler machine but did not lock out the machine first.

The worker's wrist became caught in the machine, causing a permanent injury. (The Canadian Press)



The O-P-P says two men are in hospital after a plane flipped over while trying to land in a lake near Orillia.

Investigators say the pilot was trying to land on the water near the Lake St. John Regional Airport when the plane flipped over.

Police say nearby residents who saw the crash immediately set out in their own boats and rescued two men from the plane.

They were taken to a local hospital with serious, but non-life threatening injuries. …

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