Banks drop rates as major lenders trim prime to 22.25
The five big Canadian banks including CIBC and Royal Bank will cut their prime lending rate by half a point to 22.25 percent effective Tuesday. Economists caution the move may not signal a lasting relief from high rates, with mortgage and other loans still at elevated levels. The Bank of Canada policy and a weak dollar helped push rates to record highs last summer, though primes have since fluctuated.
MENTIONED IN THIS ARTICLE
Toronto
Canadian Imperial Bank of Commerce
Royal Bank of Canada
Bank of Montreal
Bank of Nova Scotia
Toronto Dominion Bank
Bank of Canada
Jobless rate falls to seven percent in August
Statistics Canada reports Canada's unemployment at 7.0 percent in August, the lowest in five years, but warns of a coming slowdown that could lift jobless numbers. NDP critic Bob Rae cautions rate effects may appear by mid fall amid high interest rates. Crosbie concedes decent job creation.
MENTIONED IN THIS ARTICLE
Ottawa
Statistics Canada
Bob Rae
New Democratic Party
Rae
John Crosbie
Forensic experts probe remains tied to BC murders case
In southwestern British Columbia forensic work seeks to ID human remains found near two search sites as investigators continue the probe into 11 missing youths. RCMP report remains may not match five teens still missing while Olson faces nine murder counts.
MENTIONED IN THIS ARTICLE
Vancouver
B.C
RCMP
Bruce Northorp
Colleen Daignault
Surrey
Sandra Wolfsteiner
Langley
Clifford Robert Olson
Coquitlam
Olson
Judy Kozma
Raymond King Jr
New Westminster
Terri Lynn
Liberal leader quits Ontario Liberal Party
Ontario Liberal Leader Stuart Smith resigns citing distaste for four more years as opposition critic. The Montreal born psychiatrist, who led Liberals to official opposition in 1977, says stepping down after six years is not in his nature.
MENTIONED IN THIS ARTICLE
Toronto
Stuart Smith
Ontario Liberal Party
Ife
Doctors vow emergency focus if medicare reform adopted
Vancouver doctors threaten to close offices to all but emergency care and end telephone services if a parliamentary medicare report is adopted. They accuse economists of flawed data, warn of protests like the fees dispute, and note hospital bed cuts amid budget reductions.
MENTIONED IN THIS ARTICLE
Vancouver
British Columbia Medical Association
Ray March
Canada
B.C
Canadian Medical Association
March
Grain trains may bypass Lakehead in strike by rail plan
Thunder Bay grain handling strike enters fourth day as farmers and politicians push for end to work stoppage. A wheat board spokesman notes rail-to-Eastern transfer elevators could ease congestion but would not greatly reduce Thunder Bay terminal traffic. all-rail runs last winter moved 811,000 tonnes while 14 million tonnes passed through in 1980 81. Rail cars awaiting cleaning huddle beside silent terminals and stocks on the St Lawrence total about 582,000 tonnes exported and 375,000 tonnes domestic.subject to ongoing federal mediation with no progress reported.
MENTIONED IN THIS ARTICLE
Thunder Bay
Ont
Canadian Wheat Board
St. Lawrence
Wheat Board
Wheat
Lakehead
Quake Shakes Southern California In Birthday Event
An offshore quake centered in the San Pedro Channel near Santa Catalina Island rattled Southern California with magnitudes reported from 5.1 to 5.8. The 200th birthday celebration of Los Angeles marked the event, with the Vincent Thomas Bridge swaying but not damaged and trains halted for inspections.
MENTIONED IN THIS ARTICLE
Los Angeles
California
San Pedro Channel
Santa Catalina Island
Arroyo Grande
San Luis Obispo
Tom Sullivan
Tom Bradley
Vincent Thomas
Terminal Island
San Diego
Sheriff's Department
Carrie Prim
University of California At Berkeley
UC Seismograph
California Institute of Technology
Pasadena
National Earthquake Centre
Golden
Colo
California Division of Mines and Geology
First Interstate Bank
Mississippi
Robert Baylor
Budget time at city hall in Medicine Hat
The Medicine Hat News will not publish Monday due to Labor Day. It will resume Tuesday September 8. Alderman George Davison leads the finance committee and reviews next year’s operating budget.
MENTIONED IN THIS ARTICLE
Medicine Hat
City Hall
George Davison
Judges foresee patriation with per curiam stance
Canadian constitutional patriation appears a done deal as the Supreme Court is expected to issue a per curiam unsigned decision in support of the federal position on patriation and a charter of rights. Dr. Edward McWhinney says judges are serene and prepared for more civil rights litigation and clashes with politics and press.
MENTIONED IN THIS ARTICLE
Vancouver
Pierre Trudeau
Supreme Court of Canada
Edward McWhinney
McWhinney
Simon Fraser University
Canada
Supreme Court
Bora Laskin
B.C
Nathan Nemetz
Bert J. MacKinnon
Ontario
Jean Moisan
Superior Court of Quebec
Ottawa
Senate
Provincial Court of Appeal
Manitoba
Quebec
Newfoundland
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United States
Montreal
Washington
Hatfield,Ross
Partington
Kozma
King
Chartrand
Arnd
Johnsrude
Wolfsteiner
Court
Carson
Mds Promise Action
Vancouver General
CMA
Norman Rigby
B.C. Association
Rigby
Bill Kelly
Association
Quake Rocks
L.A
Andex
Western
Europe
South Africa
UN General Assembly
Assembly
Edmonton
Northlands Coliseum
Andrew Snaddon
Ann Landers
Ben Tierney
Bill Lass
Charles Lynch
City News
Deere
Don McGillivray
Editorial
Entertainment
Jim Coleman
See
Southam News
Commons Judiciary Committee
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