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Canadian markets news

Greece faces last chance to stay in euro as cash runs out
BRUSSELS - Greek Prime Minister Alexis Tsipras had a final chance to present credible reform proposals to an emergency euro zone summit on Tuesday to persuade skeptical creditors to reopen aid talks before his country's banks run out of money.
HIGHLIGHTS-Euro zone finance ministers' comments as they arrive in Brussels  Reuters
Eurozone Officials Push for New Greek Proposal on Bailout Deal  Wall Street Journal
Montreal Gazette  
Why Chinese Market Crash a Bigger Peril than Grexit
The possibility of Greece's exit from eurozone (Grexit) has dominated headlines across the world, with many analysts saying that the potential event could unleash a contagion that will create turmoil in global financial markets.
China stock market volatility catches Beijing off-guard  Financial Times
Europe shares drop before Greece summit; China falls again  Irish Independent
Trade deficit widens to $3.3B in May, 2nd highest ever
Canada's exports to the rest of the world fell in May while the country imported more than it did the month before. As a result, Canada's monthly merchandise trade deficit grew to $3.3 billion, the second-highest level ever, Statistics Canada reported ...
Canada posts near-record $C3.34 billion trade deficit in May  Reuters Canada
UPDATE 1-Canada trade deficit widens in May as exports fall  Reuters
Toronto average house price hits $1.052 million record
Even concerns that Canada is on the verge of a recession did nothing to dampen demand for homes in June as the spring buying spree - and prices - hit new records.
Toronto housing market on fire as detached home nears $1.1-million  The Globe and Mail
GTA REALTORS(R) Release Commercial Market Figures  Digital Journal
B.C. to legislate $36-billion agreement with Pacific NorthWest LNG
VICTORIA - Finance Minister Mike de Jong says the potential economic returns from British Columbia's first liquefied-natural-gas deal will outweigh any targeted-tax tradeoffs included in a 25-year deal he expects to table in the legislature next week ...
LNG protected from tax hikes for 25 years in deal with BC government
Vaughn Palmer: Governments come and go, LNG deal will stay. For decades  Vancouver Sun
Jean Coutu Group feels tax hit, profit falls
LONGUEUIL, Que. - The Jean Coutu Group (PJC) Inc. (TSX:PJC.A) had a $50.6-million net profit in the quarter ended May 30, a 6.5 per cent decline from the same time last year due to a tax provision resulting from a recent judgment by Quebec's highest ...
Jean Coutu Q1 Net Profit Declines - Quick Facts  RTT News
The Jean Coutu Group: First Quarter of Fiscal Year 2016 Results  MarketWatch
Ottawa softens anti-corruption rules for companies seeking government work
MONTREAL - Ottawa has softened its anti-corruption rules, reducing the penalties for companies that are seeking government work after being convicted of bribery, money laundering and other offences.
Industry players say Ottawa's 'integrity regime' still unfair  The Globe and Mail (subscription)
SNC-Lavalin says Ottawa not going far enough in changes to anti-corruption rules
Ontario debt rating downgraded by S&P
TORONTO -- Standard & Poor's has lowered Ontario's financial rating to A+ from AA-, citing its heavy debt burden and budgetary "underperformance" compared with peers in other jurisdictions.
Ontario's debt rating downgraded over heavy debt burden  News Talk 610 CKTB
Patrick Brown – S&P has downgraded Ontario's credit rating from AA ...  Net Newsledger
Province giving $4.9M to expand Bike Share Toronto
Ontario Transportation Minister Steven Del Duca has announced Metrolinx will spend $4.9 million to expand Bike Share Toronto. “We know that cycling generates a broad range of economic, environmental, health, social and other benefits, which helps build ...
Toronto Bike Sharing Network To Expand With Metrolinx, TPA Partnership  Huffington Post Canada
Bike Share Toronto gets $4.9-million boost from Metrolinx  CityNews
Financial watchdog 'flabbergasted' at foregone grazing lease dollars
"The department cannot demonstrate that the grazing lease program is meeting defined objectives," Auditor General Merwan Saher said in his report, on July 6, 2015.
Mental health, climate strategies not being implemented: auditor general  Edmonton Journal
Auditor general recommends province focus on results in 2015 service review  CTV News