Darpan News Desk The Canadian Press, 01 Sep, 2023 11:01 AM
The latest G-D-P report showing the economy contracted at an annualized rate of 0.2 per cent in the second quarter may signal an end to the Bank of Canada's rate hiking campaign.
Economist Tu Nguyen (WIN) at R-S-M Canada says the cooling economy should be enough evidence for the central bank to forgo further rate hikes unless there is another major external shock that sends inflation upward.
She says this is the first time since the early days of the pandemic that spending on services did not grow, which is a powerful sign of a cooling economy.
The federal Liberal Party's Sikh caucus -- which includes several members of Parliament from B-C -- has met with Public Safety Minister Marco Mendocino to discuss the killing of Surrey Sikh leader Hardeep Singh Nijjar. Seven caucus members met with the minister last night.
A man is in hospital with critical injuries after being hit by a bus in Surrey on Friday morning. At 2:40am, Surrey RCMP responded to a report of a pedestrian motor vehicle crash in the 14000 block of 96th avenue.
Air India flight 1-82 blew up hours later off Ireland's coast, killing all 329 people aboard -- most of whom were Canadians. Health Minister Adrian Dix will take part in an event today for the National Day of Remembrance for Victims of Terrorism at the Air India Memorial in Vancouver.
B-C's public utility says it has taken a series of actions since an investigation found a buildup of gases caused the explosion in an underground electrical vault in Vancouver last February. The Crown-owned company says it has decommissioned the 13 other vaults that were identified, so they no longer present a risk.
Canada and the United States are expanding an agreement to share people and equipment to fight wildfires. Natural Resources Minister Jonathan Wilkinson and U.S. Ambassador David Cohen are signing the memorandum of understanding in Ottawa today.
Rear Adm. John Mauger says a tail cone of the submersible and other debris from the vessel were found about 1,600 feet from the bow of the famous shipwreck. Mauger says the debris was consistent with the catastrophic loss of the craft's pressure chamber.
