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Canadian markets news

Canada in 'technical recession' as GDP shrinks
Canada's economy shrank for a second straight quarter, according to the latest date from Statistics Canada, putting the country in a technical definition of a recession.
Canadian economy in recession, GDP figures show  Toronto Star
Economists cut Canada's growth projection, casting cloud on election pledges  The Globe and Mail (subscription)
Reuters Canada  
Penn West cuts 400 jobs, mostly in Calgary; suspends dividend, delays projects
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 to cut 35% of work force, suspend dividend on oil slump  The Globe and Mail
Penn West cuts 400 jobs, mostly in Calgary  Calgary Herald
More than half of Canadians have less than $10K set aside for emergencies: BMO
TORONTO - Canadians on average are socking away more money for potential financial emergencies than in the past, but a new survey has found that almost a quarter are still living paycheque to paycheque.
BMO: 1/2 Of Us Have Less Than $10000 In Emergency Savings  CJOB
Average Emergency Savings Fund up 18 per cent From 2014; One Quarter Living ...  MarketWatch
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.
North American stocks tumble as China slowdown deepens growth concerns  Financial Post
Stocks Fall Around the World on China Slowdown  Bloomberg
Price of luxury housing in Canada keeps going up as sales of $3-million homes ...
Sean DeCory/National PostRe/Max says Toronto and Vancouver had a huge surge in the number of $3-million homes sold in 2015. Twitter · Google+ · LinkedIn · Email · Typo?
Chinese buyers drive Vancouver's luxury housing market  Vancouver Sun
Luxury home sales in Calgary fall sharply but prices hold steady  Calgary Herald
$5.9B provincial deficit prediction worries Calgary city councillor
A city councillor is wondering what the provincial deficit could mean for infrastructure projects in Calgary. Alberta deficit forecast at $5.9B as province feels impact of low oil prices.
Tuesday's Editorial: Yet more red ink for bottom line  Edmonton Journal
Five things you should know before you start your workday on Sept. 1  Financial Post
'Unstable antenna' on Trump Tower closes Bay St.
An “unstable antenna” on top of the Trump Tower will cause downtown traffic chaos until at least mid-day Tuesday. Concerns about a “swaying” antenna at the top of the Trump International Hotel and Tower on Monday morning led to the closure of Bay St., ...
Engineer inspecting "unstable" antenna on Trump Tower  Newstalk 1010
Twitter, Sept. 1  Winnipeg Free Press
Valeant picks up AstraZeneca psoriasis drug after Amgen exit
Canada's Valeant Pharmaceuticals International Inc is buying rights to AstraZeneca Plc's late-stage experimental psoriasis drug brodalumab after it was dropped by Amgen Inc in May.
Valeant Helps AstraZeneca to Focus  Wall Street Journal (blog)
Valeant in psoriasis-drug pact with AstraZeneca  MarketWatch
Oil falls more than 4 percent on weak Chinese data
LONDON Oil prices fell sharply on Tuesday after official data showed China's manufacturing sector, one of the main engines powering the world's biggest energy consumer, contracted at its fastest pace in three years.
Renewed China Worries Push Down Crude Prices  Wall Street Journal
Oil price volatility impedes dealmaking activity  Edmonton Journal
Springer, Samsung to partner in mobile media
FRANKFURT, Sept 1 Bild tabloid publisher Axel Springer and Korean electronics group Samsung announced a partnership in mobile media including news.
Samsung Preps Apple News Rival In Europe, Inks Axel Springer Deal  TechCrunch
Axel Springer, Samsung join forces in mobile media content  Bangkok Post