South Korea trade deal could save you money — someday

CBC News Posted: Mar 12, 2014 5:00 AM ET Last Updated: Mar 12, 2014 6:57 AM ET The Canada-South Korea free trade agreement, which is expected to remove nearly all tariffs between the two countries, has been well received by various sectors of the Canadian economy — with the exception of the automotive industry, which has raised concerns about the potential...

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Stephen Harper touts South Korea deal 'wins' on B.C. visit

Prime Minister Stephen Harper was in B.C. today, where he touted the benefits of the Canada-Korea free trade deal not only for the provinces, but particularly for B.C.The free trade agreement is expected to eliminate nearly all tariffs between the two countries, giving Canadian businesses increased access to South Korea and a window into other Asia-Pacific markets."There is no province that is going to benefit from this deal with...

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Hiring climate said to be 'modest' in coming quarter

Canadian employers expect to hire cautiously in the next three months, with job seekers more likely to have success in Western Canada than in Ontario and Quebec, according to a new survey of hiring intentions.The latest quarterly employment outlook survey from Manpower finds that employers are forecasting only a "modest" hiring climate in the April-to-June period, with new business growth at its weakest level in five months.Manpower's survey of...

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Luxembourg kills EU tax haven crackdown

The Associated Press Posted: Mar 12, 2014 1:40 PM ET Last Updated: Mar 12, 2014 1:40 PM ET European Union finance ministers failed once again Tuesday to agree on a sweeping new policy to fight tax evasion because of resistance from Luxembourg, a tiny country that long has prospered from a secretive banking culture.EU Taxation Commissioner Algirdas Semeta said their failure was disappointing because, if approved, the legislation proposing an EU-wide...

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GM recall of 1.6M cars prompts lawmaker probe

General Motors faced more pressure over its handling of a deadly defect in certain compact cars Tuesday as word leaked of a criminal investigation and two congressional committees opened probes into the matter.The Justice Department is investigating whether GM broke any laws with its slow response to a problem with ignition switches in compact cars from model years 2003 to 2007, according to a person briefed on the matter. The probe is being handled...

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OSC to accept 'no-contest' settlement agreements

CBC News Posted: Mar 11, 2014 3:57 PM ET Last Updated: Mar 11, 2014 5:25 PM ET The Ontario Securities Commission has decided to let some individuals and companies settle misconduct disputes with the regulator without formally having to admit to any wrongdoing.The new policy, often referred to as a no-contest settlement, is aimed at speeding up the whole enforcement process.Under the old rules, the OSC required some admission of wrongdoing before...

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Ottawa's 'dangerous' meddling biggest threat to housing: economist

Canada's hot housing market isn't in bubble territory, according to a new report which argues that it's the federal government's "dangerous" tightening of mortgage rules that poses the biggest threat to home prices.That view, from housing market economist Will Dunning, runs contrary to many readings of Canada's housing sector.Many analysts have examined the state of housing in this country and declared it overheated, overvalued, and...

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Fuel costs to trim record airline profits

Rising jet fuel prices will eat into the world's airline profits, but the industry is still on track for a record year, an airline lobby group forecast Wednesday.The International Air Transport Association, which represents 240 airlines, forecasts that the global airline industry will earn a profit of $18.7 billion in 2014. That's a record. But the figure is $1 billion lower than its previous profit estimate in December.North American...

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Average Wall St. bonus up 15% to $164,530 US

CBC News Posted: Mar 12, 2014 9:44 AM ET Last Updated: Mar 12, 2014 8:31 PM ET The average Wall Street banker's bonus last year rose to the highest level since the recession, and up to the third highest figure on record, new data out of the N.Y. state comptroller's office showed Wednesday."Wall Street navigated through some rough patches last year and had a profitable year in 2013," New York State Comptroller Thomas P. DiNapoli said. "Securities...

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Economy will rebound after rough winter, OECD says

Brutal winter weather is holding back the global economy, but it's on track for solid growth later in the year, a major economic think-tank says.The Organization for Economic Co-Operation and Development said in its quarterly assessment for the global economy that the world's developed economies are generally performing strongly and getting back to levels of growth and activity that existed before 2008, when the recession began.It's a different...

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Luxembourg kills EU tax haven crackdown

The Associated Press Posted: Mar 12, 2014 1:40 PM ET Last Updated: Mar 12, 2014 1:40 PM ET European Union finance ministers failed once again Tuesday to agree on a sweeping new policy to fight tax evasion because of resistance from Luxembourg, a tiny country that long has prospered from a secretive banking culture.EU Taxation Commissioner Algirdas Semeta said their failure was disappointing because, if approved, the legislation proposing an EU-wide...

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Ontario woman accused in penny stock fraud calls investor losses 'horrifying'

An Ontario woman who was part of a massive penny stock fraud scheme says she thought she was just helping her boyfriend build his business and now feels terrible about the loss of investors' money."This is the worst conceivable thing in the whole world," Andrea McCarthy told a sanctioning hearing at the Ontario Securities Commission on Wednesday."People worked hard their whole lives to have money and to have it taken away from them is horrifying,"...

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Mark Carney policies favoured condos over factories, CIBC says

CBC News Posted: Mar 12, 2014 4:09 PM ET Last Updated: Mar 12, 2014 5:14 PM ET The chief economist of one of Canada's largest banks pointed the finger Wednesday at Mark Carney for a monetary policy that pumped up house prices and the loonie while hurting Canada's manufacturing output in the long run.In a recent note, CIBC's chief economist Avery Shenfeld said monetary policy under Mark Carney's watch at the Bank of Canada left the economy...

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TSX, Canadian dollar lose ground on commodity worries

The resource sector inflicted further losses on the Toronto stock market as commodities continued to retreat amid worries about Chinese growth.The S&P/TSX composite index dropped 51.05 points to 14,216.18. The commodity-sensitive Canadian dollar fell 0.28 of a cent to 89.79 cents US.U.S. indexes also declined as the Dow Jones industrials lost 67.2 points to 16,284.05, the Nasdaq was down 22.49 points to 4,284.69 and the S&P 500 index dropped...

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Feta, parmesan, Gorgonzola cheese names prompt U.S.-Europe trade stink

The Associated Press Posted: Mar 12, 2014 11:35 AM ET Last Updated: Mar 12, 2014 11:50 AM ET Errico Auricchio produced cheese with his family in Italy until he brought his trade to the United States more than 30 years ago. Now, the European Union is saying his cheese isn't authentic enough to carry a European name.As part of trade talks, the EU wants to ban the use of names like Parmesan, feta and Gorgonzola on cheese made in the United States....

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Datawind aims to make $20 tablet computer

The Canadian makers of the "world's lowest cost tablet," the UbiSlate 7Ci, think $37.99 still isn't cheap enough.They figure there's still room to knock about 50 per cent off its price and make tablet ownership possible for anyone and everyone."This idea is to bridge the digital divide, it's really that simple, the idea is to overcome the affordability barrier," says Datawind...

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