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11-010-XIB |
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Economic Events in June CanadaToyota announced plans to invest $600 million in a new plant in Woodstock, Ontario that will be operational by 2008 and employ 1,500 people. Both Ford and GM announced they will eliminate 25,000 jobs and shut several plants in North America by 2008. Auto-parts maker, Lear Corp., will also close plants and cut 7% of its global workforce (7,700 workers) due to the cutbacks. The Ontario Energy Board granted Enbridge Gas a 7% increase in its gas and delivery charges to residential clients. About 1,000 striking container truckers slowed port traffic in BC at month-end. The Canadian Radio-television and Telecommunications Commission approved three applications for subscription-based digital radio. WorldThe Federal Reserve raised its key interest rate by a quarter point to 3.25%. Dutch voters followed France in rejecting the proposed EU constitution. The G8 nations agreed to cancel $40 billion in Third World debt. A domestic case of mad-cow disease was confirmed in the US. |
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