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Finance Department says Ottawa posted $3 billion deficit for March

Ottawa ran a deficit of $3 billion in March compared with a deficit of nearly $6.7 billion in the same month last year as federal government revenue outpaced increased spending.

In its fiscal monitor, the Finance Department said Friday the deficit for the month shrank as revenue increased by nearly $4.6 billion to $29.1 billion, while program spending increased by almost $1.3 billion to $30.2 billion. READ

Bank of Canada’s Poloz nails his 'atrocious’ prediction for the first quarter

When Bank of Canada governor Stephen Poloz veered off script earlier this year to deliver a stunner that Canada’s first-quarter numbers would look “atrocious” — he wasn’t kidding. READ

Takata airbag recall affects 1.2 million vehicles in Canada

Transport Canada has released a detailed list of vehicles being recalled in Canada due to faulty airbags made by Japan’s Takata Corp., saying 1.2 million vehicles in this country are part of the worldwide recall. READ

Risk of Trans Mountain pipeline spill could hurt green brand: Vancouver mayor

The City of Vancouver says the risks of Kinder Morgan’s Trans Mountain pipeline expansion to people, wildlife and the economy greatly outweigh the benefits. READ

Boss of biggest oilsands player calls for tougher action on climate change

Calls for tougher carbon pricing are coming from what may, on the surface, seem like an unlikely source: Calgary business leaders, including the boss of Canada’s biggest oilsands player. READ

Major oil spill could cost Vancouver’s economy $1.2 billion: city report

Vancouver’s economy could suffer a $1.2-billion blow in case of a major oil spill caused by Kinder Morgan’s Trans Mountain pipeline expansion, concludes a new report released by the city. READ

U.S. House to consider repeal of meat labelling law

A U.S. House of Representatives committee is moving swiftly to get rid of labels on packages of meat that say where the animals were born, raised and slaughtered. READ

Canadians dealing with debt prudently despite record levels: Fraser Institute

Canadians are carrying record amounts of debt, but they are managing their finances prudently, according to a report by the Fraser Institute. READ

Congressional committee moves to avert trade war over meat labelling laws

A group of U.S. lawmakers hopes to move swiftly to avoid a trade war with Canada. READ

CIBC reports insolvencies rising for the first time since the recession

The number of Canadians who can’t pay their debts and are being forced into insolvency is on the rise for the first time since the recession, according to a report by CIBC. READ

Recent climb of loonie, oil prices adds to economic uncertainty: Bank of Canada

The recent rise in oil prices and the exchange rate are adding to uncertainty about the direction of the country’s economy, Bank of Canada governor Stephen Poloz said Tuesday. READ

Canada sets new greenhouse gas reduction target; critics call it weak

Canada has set a new greenhouse gas emission reduction target as it prepares for international talks later this year, but critics say the goal is the weakest among G-7 countries. READ

Ikea recalling about 75,000 safety gates after malfunctions lead to 3 injuries

Ikea is recalling approximately 75,000 safety gates, including some 17,000 in Canada, because the gates may fail to stay closed. Three children have been injured. READ

Proposed measures to protect unpaid interns fall woefully short: NDP

Measures announced in last month’s budget to protect unpaid interns have turned out to be far less potent than advertised, New Democrats charge. READ

Canada loses 19,700 jobs in April, unemployment rate sticks at 6.8%

The Canadian economy lost 19,700 net jobs last month as the headline number in the latest labour-market data came in lower than economists’ expectations. READ

Energy stocks hit as oilpatch takes stock of NDP election victory in Alberta

The new reality of an orange-tinged Alberta was beginning to sink in across the oilpatch and Bay Street on Wednesday and, though there were some jitters, many are awaiting more details before they pass judgment. READ

Two years after Lac-Megantic disaster, new train standards for Canada-U.S.

Canada and the United States have announced a decade-long plan to phase out trains like the one involved in the deadly 2013 derailment and explosion in Lac-Megantic, Que. READ

EU leaders say trade deal with Canada is done

The European Union leadership presented a united front on their trade agreement with Canada on Friday in an attempt to dampen concerns that some European countries might still scuttle the deal. READ

Nortel not just Canadian company, IP not solely created in Canada: U.S. lawyer

TORONTO — It’s a fallacy to think of Nortel Networks as just a Canadian company and that its intellectual property was created solely in Canada, a lawyer for its U.S. subsidiary said Tuesday at a cross-border bankruptcy trial that will decide how remaining assets are shared among creditors. READ

Oliver rejects report calling for spending to create jobs, less focus on deficit

Finance Minister Joe Oliver is rejecting a recommendation from a report issued by the C.D. Howe Institute that he focus more on creating jobs than eliminating a tiny deficit. READ

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