City Ottawa Financial News

Donald Trump lobbed a fresh taunt at Canada as Prime Minister Justin Trudeau tries to weather a crisis sparked by the sudden departure of a minister who was a bulwark against the U.S.president-elect’s plan to start trade wars with his neighbours.

In the lead-up to the stunning resignation of Chrystia Freeland as Canada’s minister of finance, the story provided by the mysterious sources not authorized to leak secrets to the media was that Freeland and Prime Minister Justin Trudeau had a disagreement over whether to distribute $250 cheques to every Canadian earning less than $150,000. It looks like the unauthorized source was speaking truth. In her letter of resignation, which reads like an attack on Trudeau, Freeland says the government needs to keep its “fiscal powder dry” and should be “eschewing costly political gimmicks.”

NDP Leader Jagmeet Singh on Monday called on Prime Minister Justin Trudeau “to resign,” adding that “all options” were on the table when asked if he would support a non-confidence motion.

Canadian pension funds will no longer be restricted to a cap of 30 per cent control of companies they invest in and the federal government is working with the institutional investors and domestic airports to “explore measures for further pension fund investment on airport lands.”

Finance Minister Chrystia Freeland has announced her resignation from the federal cabinet, placing the blame on Prime Minister Justin Trudeau for her decision.

OTTAWA — The union representing Canada Post workers says an unfair labour practice complaint over the company’s layoffs has been resolved, calling it an important victory for workers’ rights.

OTTAWA — Federal Labour Minister Steven MacKinnon says he is “calling a timeout” in the Canada Post strike, and asking the Canada Industrial Relations Board to send about 55,000 employees back to work.

Justin Trudeau to 'respond robustly' and some suggested cutting off energy supplies and highlighted other products that the US «relies on» Canada for, CBC News reported. Trudeau met with Canada's premiers on Wednesday to discuss Ottawa's plan to address Trump's concerns, the second meeting since Trump threatened to impose steep tariffs on Canadian imports after he will be sworn in as President in January. Canada's Finance Minister Chrystia Freeland, who was at Wednesday's meeting, says some premiers are in favour of robust response to threatened US tariffs, CBC News reported.

Peterborough police say they finally have a breakthrough.The homicide of the Otonabee River man – revealed on Wednesday to be Gerald Durocher – has mystified investigators ever since the grisly discovery was made by members of a recreational dive club more than three decades ago.It was on July 10, 1988, when the divers took to those waters in Peterborough and found a human head at the bottom of the river some 130 feet from shore.Shortly after the discovery, which was made near Lock and McKellar streets, police launched an extensive air and underwater search to locate the rest of the body. However, to this day, it was never found.On its website, police said that through investigation at the time, they determined the head belonged to a man roughly between 40 to 74 years of age.“Some lower molars were missing and had been lost well prior to death.

The Bank of Canada cut its policy rate by 50 basis points to 3.25 per cent on Wednesday, a move widely expected by economists and markets.

Canadian lawmakers took aim at the country’s widely used money-transfer service, run by Interac Corp., and hinted that its owners should be forced to sell it.

Canada the «51st state» of the US. This time, Trump dubbed Justin Trudeau as «Governor», a post referring to the executive head of a US state. He made the remarks on Truth Social, a social media network he owns, over a week after he attended a dinner with Trudeau at his Mar-a-Lago estate in Florida. «It was a pleasure to have dinner the other night with Governor Justin Trudeau of the Great State of Canada. I look forward to seeing the Governor again soon so that we may continue our in-depth talks on Tariffs and Trade, the results of which will be truly spectacular for all,» said the Republican leader.

Finance Minister Chrystia Freeland announced Monday that she will deliver a fall economic statement on Dec. 16.

Finance Minister Chrystia Freeland says she will deliver a fall economic statement sometime this year as the clock ticks down on the remaining days in the House of Commons for 2024.

The Liberal government has outlawed another 324 firearm varieties — guns it says belong on the battlefield, not in the hands of hunters or sport shooters.

OTTAWA — The Canadian Union of Postal Workers says it’s sent another round of counter-proposals to the federal mediator appointed to help it reach a deal with Canada Post as a countrywide strike nears the three-week mark.

Canada Post strike nears the three-week mark, the federal labour minister called the nationwide mail stoppage “highly disrespectful” of Canadians.Speaking to reporters in Ottawa on Wednesday, Steven MacKinnon said he has been in regular contact with special mediator, Peter Simpson, to see where both parties stand after mediated talks were temporarily suspended last week.“I’ve been in daily discussions with … the mediator who is shuttling between the parties to see if there is a reasonable prospect that mediation, if it resumes, it will succeed. He has not yet given me that advice,” MacKinnon said.“The parties are still very far apart, and that is in my view, among other things, highly disrespectful of Canadians who are suffering through this work stoppage, small businesses, people in rural and remote communities who rely on Canada Post’s services and these parties have to knuckle down and get the work done.”By Wednesday, the Canadian Federation of Independent Business had estimated that the postal strike, which began on Nov.

Trump reportedly suggested to the Canadian PM that if a tariff for failing to address trade and immigration issues would kill the neighbor to the north’s economy, maybe it should become the 51st state, according to Fox News sources. Trudeau and other officials nervously laughed at Trump's joke. Trump was joking when he suggested Canada become the 51st U.S. state during a dinner with Justin Trudeau, a Canadian minister who attended their recent dinner said Tuesday.

By Peter Shawn Taylor

The small business loan program the federal government rolled out during the COVID-19 pandemic wasn’t managed with “due regard for value for money,” auditor general Karen Hogan said Monday.

“What thy government giveth, thine bond market taketh away.”