Economy

Economy not out of the woods yet: Fidelity

With the markets still in freefall and housing prices continuing to drop, it doesn’t look as though America’s financial future is going to turn around anytime soon. Peter Drake, Fidelity’s vice-president of retirement and economic research, says the bottom might not be far off, though three things have to happen first. “U.S. housing prices need […]

By Bryan Borzykowski |November 11, 2008

4 min read

Obama faces tough test

Barack Obama’s victory in the U.S. presidential election on Tuesday has been heralded as a turning point in history. The long, hard-fought campaign may soon seem like a vacation, though, as the president-elect gets to work on solving the problems of a country that’s had no shortage of calamities. The first priority will be to […]

By Steven Lamb and Romana King |November 5, 2008

4 min read

Oil the key drag on growth

The global economic slowdown will weigh on Canadian growth, as demand for resources dwindles, according to the Conference Board of Canada. The think-tank cut its forecast for 2009 GDP growth to just 1.5%, down from 2.2%. “High resource prices have bolstered Canadians’ real income for six years, including 2008. In 2009, this source of strength […]

By Steven Lamb |November 3, 2008

3 min read

Dollar not out of the woods yet

The Canadian dollar has suffered through a rough ride so far this month, but don’t expect it to recover anytime soon. Bank economists say the dollar has more downside potential, but whether the downturn is cyclical or just momentum remains up for debate. “The movement we have seen in the Canadian dollar in the month […]

By Steven Lamb |October 28, 2008

5 min read