Friday, August 22, 2014

Business

Fitch affirms Canada’s AAA credit rating, but points to economic headwinds

NEW YORK — Fitch Ratings has affirmed Canada’s triple-A credit rating and says the outlook is stable.
The New York-based global ratings agency, in a report issued Tuesday, said its assessment was based, among other factors, on Canada’s political stability and track record of prudent fiscal management.

Tooth fairy pays a premium for baby teeth in the Maritimes, skips Quebec

TORONTO — If you’re a kid in Atlantic Canada, here’s a reason to smile. According to a new survey, the tooth fairy is paying a premium for baby teeth in the Maritimes and Newfoundland.
At $3.46 a tooth, it’s 19 per cent higher than the national average of $2.80.

Ontario could make more money, see lower prices by ending booze monopoly: study

TORONTO — Ontario could reap more money from booze sales and consumers could pay less for alcohol if the provincial government opened up the business to more retailers, a new report found.
The study, released Wednesday by the C.D. Howe Institute, said the government is actually foregoing revenue by preserving its virtual monopoly on the sale of alcohol.

Google looking to extend its empire

SAN FRANCISCO—Google’s IPO, a decade ago this week, launched the company on a trajectory that continues to reshape its business and much of the world in its orbit.
And CEO Larry Page is determined to push even further.

Google parlays IPO to extend its empire far beyond Internet search during past 10 years

SAN FRANCISCO — Google’s IPO, a decade ago this week, launched the company on a trajectory that continues to reshape its business and much of the world in its orbit.
And CEO Larry Page is determined to push even further.

Whoops! Make that 42,000 July jobs, not 200, Statcan says in corrected report

OTTAWA — The once-stellar reputation of Statistics Canada took a huge hit Friday with the release of a correction to one of its flagship reports.
The national statistical agency reported a week ago that the economy gained a paltry 200 jobs in July — raising the eyebrows of economists who thought the number would be closer to 20,000.

Three-wheeled Elio, a $6,800 commuter car, is closer to going on sale

ROYAL OAK, Mich. — Your next commuter car could have two seats, three wheels and get 84 miles to the gallon.
Elio Motors wants to revolutionize U.S. roads with its tiny car, which is the same length as a Honda Fit but half the weight. With a starting price of $6,800, it’s also less than half the cost.

Fraser Institute study notes the average Canadian family spending more on taxes

VANCOUVER — A new study says the average Canadian family was spending more on taxes than on food, shelter and clothing combined.
The Fraser Institute study says that in 2013, the average Canadian family earned $77,381 and paid $32,369 in total taxes — or 41.8 per cent of income — compared with 36.1 per cent for food, shelter and clothing combined.

Thousands of taxpayers continue to run afoul of TFSA withdrawal rule

OTTAWA — A tricky rule keeps tripping up thousands of Canadians who make withdrawals from their tax-free savings accounts, and replace the money too early.
Some 54,700 taxpayers got warning packages from the Canada Revenue Agency earlier this year about the problem affecting the 2013 taxation year, and were told they face a penalty.

North Dakota tribe wants fees from oil companies for wasting natural gas

BISMARCK, N.D. — Tribal leaders on an American Indian reservation in the heart of North Dakota’s booming oil patch are proposing fees for companies that burn and waste natural gas.

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