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TSX Tapped Out

After rising 262 points (3.1%) yesterday on the Federal Reserve’s decision to slash interest rates, the TSX has been shut down all morning and afternoon. What was supposed to be a small glitch has turned into a major blackout and no one seems to know why. Luc Bertrand, Deputy CEO of TMX Group (which runs [...]

Economist: Taking the Dive

People work hard for their money, but they don’t make their money work hard for them. It’s time to fix that. Economist whips your income into shape with smart, practical advice. Photo by Shahram Sharif. Over the last week, those who followed the TSX must have reached for the Gravol. The index plunged 1,100 points, [...]

Beyond the Bailout

September and October have been quite the wild ride. With the $700 billion financial rescue package, a Canadian federal election, the U.S. presidential race, and the threat of corporate bankruptcies, it’s been hard to de-politicize the current economic environment and take note of the fundamental trends at play. For most of 2008, Toronto didn’t need [...]

The End of the World As We Know It?

The stock market roller coaster is continuing unabated, last week’s $700 billion bailout notwithstanding. Mid-morning, the TSX was down more than 1,100 points from Friday’s close, or just over 10%. It’s rebounding slightly at the moment—the loss had been cut to about 650 points as of 1 p.m. today—but with several hours of trading ahead, [...]

Streetcar Suspense Alleviated, Economic News Bad, BetBetBetBetBetBetBet

Looks like Toronto’s next batch of streetcars will be made by Bombardier. The Canadian company is a shoo-in to win the $1.25 billion contract after German manufacturer Siemens pulled out of the bidding, leaving only a small British company and that guy down the street with the junked car on his lawn as competition. The [...]

Plane Ticket Prices Rising, TSX Likewise Rising, And Nothin’s Safer Than Tasers!

WestJet and Porter Airlines both added fuel surcharges to their ticket prices, because it turns out jet fuel is getting more expensive what with, you know, oil prices and all. So obviously this means that you should plan your expensive, environmentally wasteful trip sooner rather than later, when all the gas runs out and the [...]

Economic Problems Solved, Toronto May Get On Board, Next Week: Amy Winehouse

Unless you’re just coming off a three-day bender, you already know that Australian actor Heath Ledger died in New York yesterday, an event covered by the media with the familiar dead celebrity combination of prurience and gravitas. Still, he was good at what he did and he had a little girl and it’s sad. Good [...]

TSX Is Stunned, Slumlord Is Surprised, Jamario Moon Is A Slam Dunker

TSX plunges nearly five percent in one day. The stocks dropped as a result of a worldwide sell-off prompted by the probable American recession that, depending on who you talk to, is either here already, coming very soon, or never going to come ever. Of course, you’ll only hear that last one when you talk [...]

Stocks Stagger, Stelmach Stretches, Star Staff Striking

Unionized Toronto Star employees met at a downtown hotel yesterday and voted 96% in favour of a strike, or as the Star itself might say, “Star Employees Vote To Strike At Hotel.” In another sign of potential economic trouble on the horizon, the benchmark TSX stock index dropped 623 points in two days. While most [...]

Markets Going To Hell, Mammoliti Going To Party, Drivers Going Too Fast

Stock market volatility continued yesterday, with the TSX index adding a 194 point drop to a loss of about 10% in the last month. A spokesman for the Global Society of Plutocrats said that in spite of the burgeoning financial crisis, everything remains fine for the super-rich. Toronto City Councillor Giorgio Mammoiliti is still planning [...]

Good Day For Blind TTC Riders, Bad Day For Investors And Citizenship Ministers

Proving that New Democrats actually are allowed to have a sense of humour, former provincial cabinet minister and federal candidate Marilyn Churley commented on the dearth of women in the Ontario legislature by suggesting that there were not enough Janes and too many Dicks in provincial politics. You go, girl. Speaking of dicks at Queen’s [...]

TSX Continues to Tumble

Following a major sell-off in the Shanghai stock market yesterday, other markets around the world fell dramatically, including the Toronto Stock Exchange. It looks like today is more of the same, as the index is already down 61.85 points, or 0.49%. However, given today’s partial recovery of the Dow after its 400+ point fall yesterday, [...]