Bank of Canada lowers bank rate to 8 percent
The Bank of Canada cut the bank rate to 8 percent effective today marking a second reduction in a month. Governor Gerald Bouey said the move aims for a moderate expansion while warning it does not signal a new inflationary surge. Unemployment remains high at 7.3 percent with 708,000 out of work last month.
MENTIONED IN THIS ARTICLE
Ottawa
Bank of Canada
Gerald Bouey
Bouey
Conference Board
Canada
Lyon bus tragedy claims 14 drownings in fog
In Lyon, about 50 relatives identify bodies of 13 children and an aide among drowning victims after a school bus swerved off a road into the Rhone in dense fog. Nine others were rescued including the driver Jean Noel Maury. The bus failed to negotiate a 90 degree turn in Port Edouard Herriot area.
MENTIONED IN THIS ARTICLE
Lyon
France
Rhone
Jean- Noel Maury
Pierre Doueil
Doueil
Port Edouard Herriot
Third and final part of a multi-episode series
The third and concluding installment wraps up the storyline begun earlier in the week. Key characters reach a turning point as the plot resolves the central conflict. Readers see answers to lingering questions and a closing moment signals the series’ completion.
Alberta reports six month surplus in 1976 77 balance
Alberta auditor Doug Rogers notes a budgetary cash surplus of 43.5 million for the first half of the 1976-77 fiscal year if non budget funds are excluded. The report shows budget receipts of 1.494 billion and payments of 1.626 billion with a 206.4 million surplus in the non budget account. Oil and gas revenues total 900.6 million including 820.9 million in royalties.
MENTIONED IN THIS ARTICLE
Doug Rogers
Alberta Heritage Savings Trust Fund
Rogers
Tob
Oil spill hampering rescue near Nantucket
Heavy winter seas hinder Coast Guard efforts to sink the front half of a Liberian tanker that broke apart, triggering a massive oil spill. Oil slicks spread toward Georges Bank fishing grounds as officials seek federal aid for affected businesses. Oil-coated birds flood Nantucket beaches as wind and waves push the oil away. The tanker’s midsection broke up early Tuesday after the vessel split in two.
MENTIONED IN THIS ARTICLE
Nantucket
Mass
U.S. Coast Guard
Georges Bank
Massachusetts
Washington, D.C
Coast Guard
Tax bill withdrawn to allow holiday recess debate
Ottawa government halted debate on the income tax bill after New Democratic MPs threatened to block passage until after Parliament's 25 day Christmas recess starting today and resuming January 17. The bill would amend the Income Tax Act, while a separate measure would add two members to the historic sites and monuments board to represent the Northwest Territories and Yukon.
MENTIONED IN THIS ARTICLE
Ottawa
Commons
New Democratic Party
Allan MacEachen
NDP
Ed Broadbent
MacEachen
Historic Sites and Monuments Board
Northwest Territories
Yukon Territory
Ontario
Quebec
Canada
Wally Firth
Yukon
Firth
Hijacker Surrenders After 15 Hour DC-8 Standoff
A disgruntled airline mechanic named Palm Hinnant surrendered to FBI agents in San Francisco after a 15 hour hijacking of a DC-8 jetliner. Hostages Richard Funk and Jerry Dusenberry were aboard. Funk was injured and rushed to hospital while Dusenberry was released unharmed. Authorities said Hinnant demanded another jet and crew, and was armed with a handgun.
MENTIONED IN THIS ARTICLE
San Francisco
Palm Hinnant
Richard Funk
United Airlines
Hinnant
Jerry Dusenberry
Lincoln Jones
FBI
Charles Bates
Jones
Clarence Hamlet
United
Dusenberry
Funk
Pipeline Blast Injures Two Workers On Holsom Road
RCMP report a natural gas pipeline explosion four miles west on Holsom Road during pressure testing. Two Hat Pipeline Construction Co. employees from Redcliff suffered chest injuries but were released after hospital checks. Two vehicles caught fire. crews extinguished both fires and assess damage.
MENTIONED IN THIS ARTICLE
Holsom Road
RCMP
John Degenhart
Don Arkossy
Hat Pipeline Construction Co
Redcliff
Medicine Hat and District Hospital
Hat Pipeline
Brinks truck robbed at Montreal Bank of Montreal transfer
Police report two armed men robbed Brinks guards of 523500 as money moved from a Bank of Montreal branch to an armored truck at an east end shopping centre. One thief with a rifle wrapped in Christmas paper threatened a guard and forced a return to the bank before the loot was taken to a waiting car.
MENTIONED IN THIS ARTICLE
Montreal
Bank of Montreal
Olive Diefenbaker Dies in Ottawa at 73
Olive Diefenbaker, wife of former prime minister John Diefenbaker, died at her Ottawa home at 1 30 p m EST Wednesday after a long heart illness. She spent Christmas at home after hospital release Tuesday and they marked their 23rd anniversary December 8. Funeral plans were not announced.
MENTIONED IN THIS ARTICLE
Ottawa
Olive Diefenbaker
John Diefenbaker
Diefenbaker
Also Mentioned on This Page
Donald Macdonald
Dres
Alberta
ST. Nick
Santa Claus
Santa
Frank Webber
Argo Merchant
Russell Train
U.S. Environmental Protection Agency
Lynn Hein
Tom
James Stewart
Brinks
Elizabeth Bietsch
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