Canada plans wider deficits to jolt economy

In a move that many are celebrating, Carney is cutting the luxury tax as part of Budget 2025. This budget also introduces a 'super-reduction' to Canada's marginal effective tax rate and aims to enhance traveller screening at airports through further automation.

Carney's first budget has resulted in a significant increase in Canada's deficit, doubling it in an effort to address the ongoing trade rift with the United States. This move raises concerns about the long-term economic implications for Canada.

Canada is facing significantly higher deficits than expected, prompting a reduction in growth forecasts. This financial outlook raises concerns about the country's economic stability and future prospects.

Ovintiv Inc. has announced its agreement to acquire NuVista Energy Ltd for approximately $2.7 billion. This strategic move will enhance Ovintiv's operations in Canada, marking a significant expansion for the shale explorer.

Canada is moving forward with initiatives to help businesses accelerate their write-offs for machinery and equipment. This also includes allowing immediate expensing of research and development costs, which can significantly reduce corporate taxes.

Canada is set to boost its defense sector by utilizing a state-owned bank to offer loans and venture capital to defense companies. This initiative is part of a broader strategy to maximize economic benefits from increased military spending.

Canada's stock market closed lower today, with the S&P/TSX Composite index dropping by 1.54%. This decline reflects ongoing concerns in the market, impacting investor sentiment.

The article discusses how the loss of manufacturing jobs in the 2000s influenced political dynamics and suggests that similar disruptions in white-collar jobs due to AI advancements will have a significant impact on politics as well.

Naver has announced record earnings for the third quarter, driven by significant growth in its AI initiatives. This impressive performance highlights the company's successful strategy in leveraging artificial intelligence to enhance its services and boost revenue.

Gold prices have seen a rebound as investors adopt a risk-off approach in the markets, with many looking ahead to the upcoming US payroll data for further insights.

In a dramatic turn of events, New York City's elite have unleashed a barrage of tactics against Zohran Mamdani's mayoral campaign, employing money, insults, and even scare tactics to thwart his ambitions. The atmosphere is tense as fears of a 'Hot Commie Summer' loom over Wall Street.

The article discusses five key areas where debt is becoming a significant concern in the rapidly growing AI data centre sector. It highlights the challenges and risks associated with financing these facilities, as well as the potential impact on the industry.

China is looking to issue a $4 billion bond, with orders exceeding $65 billion, indicating strong investor interest and confidence in the market.

Toyota has raised its full-year operating profit outlook, thanks to increased volumes and effective cost-reduction efforts. This positive adjustment reflects the company's strong performance and strategic initiatives.