It is Thursday, May 7, and here are the top stories we are following today.
U.S. Trade Tensions May Persist, Says Former Negotiator
Canada and the United States remain "far apart" in their trade negotiations as the July deadline for a review of the Canada-U.S.-Mexico Agreement approaches, according to former chief trade negotiator Steve Verheul. He indicated that tensions could drag on for the foreseeable future.
TMX Urges Sovereign Wealth Fund to Trade as ETF
The TMX Group is urging the federal government to allow retail investors to buy stakes in the proposed $25-billion sovereign wealth fund through publicly traded units, such as exchange-traded funds. The CEO of Canada's largest stock exchange group made the recommendation to the Carney government.
WestJet Not Finished Hiking Fares
WestJet Airlines Ltd. says it is gradually raising fares to offset soaring jet fuel costs, which have doubled this year. The airline warns that it is not finished yet, as it continues to recover rising operational expenses.
Disability Tax Credit Changes Announced
It will now be easier for some Canadians to qualify for the disability tax credit (DTC) following changes announced in last week's Spring Economic Update. The DTC is a non-refundable tax credit designed to recognize the impact of disability-related costs on tax liability.
MDA Space Revenue Jumps Over 30%
Brampton, Ont.-based MDA Space Ltd. reported first-quarter revenue of $464.1 million, a 32% increase year over year, beating analysts' expectations. The growth was primarily driven by a 41% rise in its satellite business, with satellite revenue reaching $313 million.
