Everything is going swimmingly:
The Canadian dollar weakened to its lowest level in more than two years against its U.S. counterpart on Tuesday before paring much of its decline, as an uncertain outlook for the global economy continued to depress investor sentiment.**
Inflation in Canada is now home grown, Bank of Canada Governor Tiff Macklem said yesterday. Macklem and others for months had blamed rising costs on global developments: “Increasingly the inflation we’re seeing in Canada reflects what’s going on in Canada.”
Oh, it always was, Tiff.
**
Big publishers and TV networks including the CBC are up for more than a third of a billion a year under cabinet’s Bill C-18, the Parliamentary Budget Office said yesterday. Independent publishers opposed to the bill have called it another federal subsidy for distrusted media: “We expect news businesses to receive total compensation around $329.2 million per year.”
**
People in Poland are burning garbage to keep warm as the energy crisis in Europe intensifies.
Meanwhile, Romania is capping the price of firewood at about $80 per cubic meter.
Russia's invasion of Ukraine has upended Europe's energy supply ahead of winter.
Russia launched its most widespread air strikes since the start of the Ukraine war on Monday, raining cruise missiles on busy cities during rush hour and knocking out power and heat, in what President Vladimir Putin called revenge for a blown up bridge.**
Sri Lanka’s president said Thursday his government has started debt restructuring discussions with China, an important step toward finalizing an International Monetary Fund rescue of the island nation from a severe economic crisis.
President Ranil Wickremesinghe told Parliament on Thursday that initial talks will continue after China's Communist Party congress, which begins Oct. 16.
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