TSX falls another 6% in equity 'train wreck'
1 Jan 1970 12:00am GMT The main index of the Toronto Stock Exchange tumbled almost 6% on Friday as the latest wave of panic swept through global equity markets, wiping billions of dollars more from investor portfolios and pushing commodity prices sharply lower.
Global crisis tempers Canada's swagger
1 Jan 1970 12:00am GMT With the chance of a recession now a real possibility and federal budget surpluses already razor thin, the next prime minister will face a major ideological challenge: Let federal finances slip into the red or cut spending to balance the budget and risk pushing the economy into deeper distress.
Loonie has biggest one-day drop since 1971
1 Jan 1970 12:00am GMT The Canadian dollar closed at its lowest level since March 2007 against the U.S. dollar on Friday, taking its biggest one-day slide in nearly 38 years, as fears of a global recession and slumping commodity prices trumped some better than expected economic data.
Canada's $25-billion mortgage plan
1 Jan 1970 12:00am GMT Ottawa on Friday committed to taking a sequence of escalating steps to protect Canada’s banks and prevent a collapse in the financial system as part of a joint plan agreed to in Washington by the world’s richest countries
Banks lower prime rates on Ottawa's mortgage plan
1 Jan 1970 12:00am GMT Following up an announced government plan to buy mortgages from Canadian banks, a number of lenders on Friday announced plans to cut their prime rates — though by differing degrees.