Newspaper article The Canadian Press

--Ninth NewsWatch-

Newspaper article The Canadian Press

--Ninth NewsWatch-

Article excerpt


(Bombardier-Layoffs) (Audio: 57)

Looming layoffs at a Bombardier plant in Thunder Bay, Ontario are creating a political dispute between Queens Park and Parliament Hill.

The federal Liberals and provincial Tories are taking shots at each other in a bid to assign responsibility for the impending loss of 550 jobs.

Federal Labour Minister Patty Hajdu (HEYE'-doo) says Premier Doug Ford has failed to deliver on a promised contract for the facility in her hometown.

Ford says the Liberals should have committed funding to the province's Toronto area transit expansion plan if they wanted to save jobs. (9)


(BoC-Interest-Rate) (Audio: P01)

The Bank of Canada is leaving its key interest rate unchanged, in an effort to balance domestic economic improvement with an expanding global slowdown caused by trade conflicts.

The decision keeps the interest rate at 1.75 per cent for a sixth-straight meeting as the country continues to rebound from a weak stretch in late last year and early this year.

The central bank says in a statement that the economy appears to be returning to growth, but adds -- quote -- "the outlook is clouded by persistent trade tensions." (9)



U-S Federal Reserve Chairman Jerome Powell is signalling that the Fed will likely cut interest rates late this month for the first time in a decade.

Powell says in prepared remarks to Congress that "trade tensions and concerns about the strength of the global economy continue to weigh on the U-S economic outlook."

His remarks triggered a stock market rally, with economists suggesting they made a quarter-point rate cut a virtual certainty at the Fed's meeting this month.

The U-S central bank raised rates four times last year -- action that incited numerous public attacks on Powell from President Donald Trump. (9)



The chief of a northern Ontario First Nation threatened by a forest fire says a plan to evacuate residents via buses and boats has been put on hold. …

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