CTV News, Feb. 25, 2016 The recent oil slump is hitting Lloydminster hard. More than 31,000 people call the city home, and according to residents, nearly all are feeling the effects of the economic downturn. Jobs have been lost, businesses have shut down and employment insurance is running out. Some people lost their job more… Continue reading A city on the edge: Working together in tough times
Tag: economy
A city on the edge: Tough times for all in Lloydminster
The recent oil slump is hitting Lloydminster hard. More than 31,000 people call the city home, and according to residents, nearly all are feeling the effects of the economic downturn. Jobs have been lost, businesses have shut down and employment insurance is running out. Some people lost their job more than a year ago and… Continue reading A city on the edge: Tough times for all in Lloydminster
Alberta faces record $10.4B deficit as oil slump is felt
Prolonged slump in world oil prices is on track to wallop province with a record $10.4-billion deficit in the next budget, fiancé minister says. EDMONTON—Alberta Finance Minister Joe Ceci says the prolonged cratering of world oil prices is expected to saddle his province with a record $10.4-billion deficit in the next budget. “Our deficit could… Continue reading Alberta faces record $10.4B deficit as oil slump is felt
Justin Trudeau rates highly on economy and approval in new polls
Concerns about economy increase as worries about terrorism and security decline As the economy becomes an even more important issue for Canadians, Justin Trudeau remains the federal leader voters trust most to deal with it — as well as the leader with the most glittering approval ratings, according to the latest polls. An important part… Continue reading Justin Trudeau rates highly on economy and approval in new polls
Canadian oil production growth could slow down or freeze altogether: report
CALGARY — Growth in Canadian oil production is likely to slow down or grind to a halt five years from now once projects now under construction are built, the International Energy Agency warns in a report released Monday. The Paris-based organization said it projects Canada to add 800,000 barrels a day of production by 2021,… Continue reading Canadian oil production growth could slow down or freeze altogether: report
Deficit has soared ahead of March 22 budget, Bill Morneau says
Federal finance minister tells Ottawa town hall that economy has deteriorated since November update The Liberal government is now forecasting larger than expected deficits for the next two years even before adding billions in promised spending in its first budget, which will be tabled on March 22. Finance Minister Bill Morneau presented the updated numbers at a pre-budget… Continue reading Deficit has soared ahead of March 22 budget, Bill Morneau says
Oil is now so cheap even pirates aren’t stealing it any more
Stealing the oil from a ship is no mean feat. Oil tankers are enormous, and ships that carry expensive cargo are designed to be difficult to board. Stealing can mean hijacking the original tanker, disabling its tracking devices, taking it to a location where it can’t be spotted, and transferring thousands of heavy barrels to a… Continue reading Oil is now so cheap even pirates aren’t stealing it any more
Beef prices begin sudden fall from record highs
Grocery store prices start to drop for steaks, roasts and ground beef The boom market for beef is fading in Canada after record prices last year, but people will have to wait for costs to tumble in grocery stores. The cattle industry has experienced a sudden drop in prices, forcing ranchers to adjust their expectations for the year.… Continue reading Beef prices begin sudden fall from record highs
‘People scrambling’: Auto loan delinquencies on the rise in Sask.
SASKATOON – New numbers from TransUnion Canada suggest the slump in oil is hitting the economy hard, as more Canadians have trouble keeping up with their auto loans. In the forth quarter of 2015, auto loan delinquency rates spiked by 10 per cent. Oil-rich regions have suffered the most, with Alberta at a delinquency rate of 2.42… Continue reading ‘People scrambling’: Auto loan delinquencies on the rise in Sask.
Corb Lund says Alberta diversification bound to happen
Musician says Albertans have the know-how to figure it out Despite Alberta’s economic downturn, a self-described sixth-generation Albertan Corb Lund says that the economy and its industry need to diversify, but he thinks the province “will figure stuff out.” Lund, a country musician, played in Regina and Saskatoon this past week. He spoke with Saskatchewan Weekend host Eric Anderson about… Continue reading Corb Lund says Alberta diversification bound to happen