China is to diversify the use of its swelling foreign exchange reserves, a policy change that is likely to mean a rise in investment in overseas securities and more purchasing of foreign technology and raw materials.
Mr Bloomberg and Mr Schumer commissioned the study amid increasing concern over New York's declining share of global capital markets activity. Concern has focused on the rise in the number of foreign companies choosing to list their shares in London and Hong Kong rather than in New York.
SUSAN DENTZER: And, in effect, what this federal offer now is, is basically to take dollars that are currently channeled under Medicaid and Medicare to hospitals that have a so-called disproportionate share of the uninsured, take those dollars that now go to support those institutions that care for the uninsured, and channel them, instead, to help states expand coverage for the population.
The council's online survey was done last fall. Responses were drawn from 5,000 individuals and more than 400 organizations across Canada.
Almost three-quarters of respondents were women. More than one-third of participants said they are always or often worried about living in poverty, another third are sometimes concerned, and the rest said they rarely or never worry.
Most respondents, 73 per cent, described themselves as "regular Canadians" who play no voluntary or paid role in the fight against poverty.
TORONTO (CP) — NDP Leader Jack Layton is accusing Canada’s big banks of “gouging” clients by charging ATM fees to access their own cash.
Layton says he wants the practice outlawed.
He says it’s just not fair to force someone to pay $1.50 for withdrawing or depositing $20 or $30 from a bank machine.
Banks had $19 billion in profits last year and Layton says they don’t need the cash.
Layton says bank fees have simply gone too far.
The banks called Layton’s comments “nothing more than political rhetoric” and “bank bashing.”
While disgruntled shareholders can sell their stock if they believe their CEO is making too much money, few of us can avoid forking out interest payments and service charges to the big five banks - which in 2005 paid their CEOs an average of nearly $14.9-million, according to a Globe and Mail survey. Cue the NDP leader once more.
"We're working to protect families from outrageous bank service fees and credit card interest rates," Layton told his caucus. "As families open their bank and credit card statements this month, the unfairness of this can't be missed. I want to say very specifically that we will continue to fight for changes that will mean affordability and fairness for the average bank customer."
Why do Hands in My Pocket ads make so much sense in Canada? In Canada, the credit card market is dominated by a powerful oligopoly of 5 major banks. These banks, known as the Big 5, typically price their cards at rates around 20% (much higher than rates seen in the U.S.). As a result, resentment is driving Canadians towards Capital One’s low rate credit cards. In 2004, Capital One launched a 5.99% low rate credit card that was the lowest rate in the country. More interestingly, the rate was 14 percentage points BELOW the typical rate of a Canadian credit card. Accordingly, the Hands in My Pocket campaign is very effective.
