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Canadian markets news

Penn West cuts 400 jobs, mostly in Calgary
CALGARY -- Penn West Petroleum Ltd. (TSX:PWT) is cutting its workforce by 400 full-time employees and contractors -- most of them working at company headquarters in Calgary.
Penn West Petroleum lowers capex, suspends dividend, to cut jobs  Reuters Canada
UPDATE 1-Penn West Petroleum lowers capex, suspends dividend, to cut jobs  Reuters
Wall Street Journal  
More than half of Canadians have less than $10000 set aside for emergencies: BMO
Canadians on average are socking away more money than they used to for dealing with a potential financial emergencies, but a new survey has found that almost a quarter are still living paycheque to paycheque.
Average Emergency Savings Fund up 18 per cent From 2014; One Quarter Living ...  MarketWatch
GDP figures from StatsCan expected to show 'technical recession'
TORONTO - Statistics Canada is releasing GDP data today that is expected to show that the country slipped into a technical recession in the second quarter.
Canada reports GDP: What to expect from this morning's reading  Financial Post
Canada's 'technical recession' will be short-lived  Hamilton Spectator
Luxury Home Sales Soar in Canada as Foreigners Seek Stability
Sales of the most expensive luxury homes more than doubled in Toronto in the first seven months of the year, fueled by foreign demand for housing Canada's largest city, according to Re/Max Holdings Inc. Sales of houses and condos worth at least C$3 ...
Barbara Yaffe: BC's housing affordability unlikely to ease  Vancouver Sun
Toronto real estate market approaching "risky levels"  blogTO (blog)
Canada's Q2 current account deficit narrows to $17.4B
OTTAWA - Canada's current account deficit narrowed slightly in the second quarter of 2015 to $17.4 billion on more favourable trade in goods and services, Statistics Canada said on Monday.
Four stories in the news today, Sept. 1  The Chronicle Journal
Canada second quarter current account deficit narrows to C$17.40 billion  Reuters Canada
Alberta issues bleak economic report
Alberta's economy is sliding into recession and its deficit for this year could top $6.5-billion, the province's NDP government says in an economic update.
Five things you should know before you start your workday on Sept. 1  Financial Post
Alberta deficit at $5.9B, minister says  Saskatoon StarPhoenix
NL and Quebec Can Mend Relationship, Work Together: Paul Davis
Newfoundland and Labrador, and Quebec are slowly mending their troubled relationship, and have the ability to work together for the betterment of both provinces, according to premier Paul Davis.
Hydro-Qu´┐Żbec and Eversource Energy: Partnering to help solve New England' ...  Your Renewable News (press release)
Hydro-Quebec teams with New England firm on proposed power line to New Hampshire  CBC.ca
Oil Outage in Canada Boosts Prices, Fears
CALGARY, Alberta—Problems affecting output at two Canadian oil-sands producers' mainstay operations boosted synthetic crude prices—and experts say a prolonged dip in production could alter the volume of crude exports to the U.S.. Canadian Oil Sands ...
Canadian Oil Sands halts crude production at Syncrude after fire  Toronto Sun
Canada synthetic crude spikes on Syncrude fire, Nexen pipelines  Reuters Canada
China jitters send global stocks tumbling
LONDON (Reuters) - World stocks and commodity prices tumbled on Tuesday, as poor Chinese data saw fears about its economic health intensify.
Global stocks fall again on renewed China concerns  RTE.ie
China jitters send world stocks and commodities tumbling  Irish Times
ICBC says higher car insurance rates ahead, cites injury claims
The Insurance Corporation of B.C. says a recent leap in injury claims means that if its request were filed today, it would have to ask for a 6.7 per cent rate hike, the highest possible under current legislation.
ICBC to seek increase in insurance rates for drivers  The Province
Morning Briefing: Insurance professionals are in demand  Insurance Business America