5 Things To Know
Ontario won’t meet 15% reduction goal in auto insurance. Tory takes to Twitter to ask where ‘Toronto’ sign should go next. Organizers defend booking Kanye West for Pan Am closer. Crime stats show increase of shootings in Toronto this year. Bank of Canada slashes benchmark rate to 0.5%, loonie drops to 6-year low. +**Greece approves austerity bill.**
ONTARIO WONT MEET 15% REDUCTION TARGET FOR AUTO INSURANCE
Auto insurance rates in Ontario rose slightly in the second quarter of this year, despite the Liberal government’s pledge to lower rates an average of 15% by next month. The Financial Services Commission of Ontario, which regulates the province’s insurance sector, says rates for 26 companies representing 52% of the market increased an average of 0.6 in the second quarter.
TORY TAKES TO TWITTER, ASK WHERE SHOULD THE TORONTO SIGN GO?
It has served as the backdrop for thousands of pictures taken by both locals and visitors to the city, and it’s headed on tour. The TORONTO sign was initially installed at Nathan Philips Square as part of the lead up to the Pan Am and Parapan Am games. That sparked a wave of positive feedback and the decision was made to keep the sign at the square until the end of 2015. But where it’s headed after that is up to you. Mayor John Tory has launched a social media campaign asking residents to offer suggestions about where the sign should go next. The plan is to take #TORONTOsign on tour, making stops in different communities, to serve as an on-going attraction. The sign, which stands 3 meters tall and 22 meters long, features multi-colored LED lights which are
KANYE WEST TO HEADLINE PAN AM CLOSING CEREMONY
The Pan Am Games host committee has confirmed that Kanye West will be headlining the Pan Am closing events on Sunday, July 26th. Many Torontonians are miffed that the city’s very own, Drake, wasn’t chosen for the ceremony. It didn’t take long for a petition called “Don’t have Kanye West perform the closing ceremony for the Toronto Pan American Games” to surface. About 5000 Torontonians are saying thanks but no thanks to the 40-year-old rapper. Like many others, Mayor John Tory spoke about his mixed reaction, as to why Kayne was chosen, but admits that he is well aware that the rapper is quite popular and that he has many fans that listen to his music. Performing alongside Kayne West at the closing ceremonies will be Pittbull and Serena Ryder. Tickets start at $90.00 and are now available at ticketmaster.ca.
“SUMMER OF THE GUN” ALL OVER AGAIN
For Toronto cops, it’s pretty much the “Summer of the Gun” all over again. It appears gun violence is on the rise once again in Toronto. 36 more people have been shot this year in comparison to last year and the latest statistics show that there’s a 90% increase with the shooting victims who were wounded and 48% increase with shootings overall. In 2015, there have been a total of 227 people shot in comparison to 2014, which is a total of 31 more victims. When you add fatalities and injuries into the equation, there are 88 people who fall under those categories compared to 53 people at this point in 2014, which is equivalent to a 66% increase.
BANK OF CANADA SLASHES BENCHMARK RATE TO 0.5%, LOONIE DROPS TO 6-YEAR LOW
The loonie is still in a bit of a tail spin this morning. It’s trading at its lowest levels in more than 6 years, following the Bank of Canada’s decision to cut its key interest rate by a quarter of a percent point. After closing at 77.40 cents US yesterday, the loonie is now trading at 77.35 cents US.
Austerity Bill Passed By Greek Parliament
The Greek Parliament has approved an austerity bill which will pave the way for yet more tax increases and spending cuts despite significant dissent from within the Governing party. The bill demanded by European bailout creditors passed with the support of three pro European opposition parties. The bailout of 120-billion dollars over three years is needed to save the Greek economy from collapse. The news comes after a day of unrest on the streets of Athens as angry protesters clashed with police in front of Parliament buildings. The violence involved about 200 youths who hurled firebombs and rocks at riot police, who responded with tear gas and pepper spray. Police say about 50 protesters were detained.