5 Things To Know
China’s ‘Black Monday’ Sends Markets Reeling Across the World. Stock Market Talk From Candidates on Federal Campaign Trail. H.O.T. Lanes Are On The Way According to Wynne. Ontario and OECTA Reach Tentative Deal. Extracurriculars A Go In Ontario Public High Schools.
China’s ‘Black Monday’ Sends Markets Reeling Across the World
Instability in the markets is expected to continue today. Chinese stocks tumbled again this morning following their biggest decline in eight years to start off the work week. The Shanghai index traded down for the fourth straight day at about 7 and half percent during afternoon trading in China on Tuesday. North American Markets closed down, Monday, with TSX off 421 points and the Dow in New York losing 588. The beating in China on Monday saw the market shrink 8.5%. Japan’s main index fell by 4% Tuesday, but other Asian markets rebounded. European shares were also up in early trading. Some analysts are finding the silver lining– the BBC’s Steph McGovern says world economies have gotten used to getting Chinese goods “on the cheap.”
Stock Market Talk From Candidates on Federal Campaign Trail
Turmoil in the Chinese stock market has been fodder on the Canadian federal election front for Stephen Harper’s opponents. Liberal Leader Justin Trudeau saying the Harper government failing Canadians. “Do we put all our eggs in the same basket, and desperately hope that oil prices will bounce back which seems to be Mr. Harpers only plan for the economy” Meanwhile N-D-P leader Tom Mulcair says Harper’s policies of focusing on oil have left Canada with a less balanced economy. “The reason we’re in such a precarious position in Canada right now, is because Stephen Harper made a huge bet on one number oil and gas” With the Shanghai market down again early Tuesday, it’s likely we can expect more of the same when the leaders hit campaign trail, Tuesday. PM Stephen Harper will likely try to deflect economy talk with more public safety policy when he speaks at the International Plaza Hotel in Mississauga. Justin Trudeau visiting Sudbury and Sault Ste. Marie, which are weak regions of support for the Liberals. Mulcair takes his show to BC and a trip through Vancouver Island communities.
H.O.T. Lanes Are On The Way According to Wynne
As the temporary HOV lanes faded into the rear view mirror following the ParaPan Am games, the province is talking about implementing something similar. “High Occupancy Toll Lanes” are in future plans according to Premier Kathleen Wynne. The lanes, expected to affect the greater Toronto and Hamilton area, will be available to high-occupancy vehicles and other exempt vehicles without charge, however many vehicles will be required to pay a variable fee that is adjusted in response to demand. Questions still remain on exactly how and when they will be implemented. Wynne says there are details to be sorted out. Conservative Michael Harris claims Wynne won’t reveal details of the plan due to fears it will hurt the Trudeau federal campaign. Most of the details have been kept on the down low by the Liberals. An NDP request via the Freedom of Information act in early 2014 allowed the party to see some of the pages in a report almost 500 pages long.
Ontario and OECTA Reach Tentative Deal
Ontario’s Education Minister has confirmed that a tentative deal has been reached between the province and the Ontario English Catholic Teachers’ Association. A statement released from the office of Liz Sandals confirmed the deal, reached Tuesday morning. “The tentative agreement is the result of hard work and the willingness of all parties to resolve difficult issues prior to the start of the school year. Although I cannot comment on the specific terms of the tentative agreement as it remains subject to ratification, I am pleased that it is consistent with the government’s net-zero bargaining framework, meaning any salary increases are offset through the collective agreement,” Sandals’ statement read. “We remain committed to bargaining throughout the remaining weeks of the summer in order to reach agreements at all tables.”
Extracurriculars A Go In Ontario Public High Schools
Union officials have given teachers the green light to tackle extra-curricular activities in the fall. It’s good news for Ontario public high school students who participate in sports and clubs, as a tentative deal reached with the province late last week is likely to be ratified by members. Teachers will vote on the three year deal sometime after Labour day. It includes a pay hike of 1.5%, a lump sum payment of 1 percent, an additional professional development day, and no changes to class size. The salary increase is said to be funded through existing spending according to Premier Kathleen Wynne. The specifics of how that will be done have not been revealed. Wynne is hoping to cut similar deals with the other unions as the province is set to resume negotiations with the Catholic teachers and The Elementary Teachers’ Federation of Ontario, in the weeks ahead.