5 Things To Know
Arsonist Believed To Be Behind 6 Early Morning Fires. Long-Awaited Uber, Taxi Report To Be Released Today. Heat Warning For Toronto Now Over. Bank of Canada Expected to Keep Same Key Interest Rate. Canadians Expect To Work Longer Before Retirement. +**Apple Ready For Biggest Launch In Its History.**Queen Elizabeth II Becomes Britain’s Longest-Serving Monarch.**
Arsonist Believed To Be Behind Early Morning Fires
A series of early morning fires is believed to be the work of an arsonist. Toronto fire fighters were called out to the Danforth Avenue and Coxwell Avenue area just after 3 a.m. and found that half a dozen fires had been set within a short distance of each other. Some porches were set ablaze and in another incident, an SUV was torched in a driveway. Police are looking for a suspect or suspects. No damage estimate has been released at this time.
Long-Awaited Uber, Taxi Report To Be Released Today
The Uber versus Taxi debate will steer its way back into the spotlight today. A long awaited city staff report about Uber and the taxi industry will be released later on. The ongoing battle between Uber and Toronto taxi drivers has one of the biggest cab companies looking for change. Beck Taxi is calling on the city of Toronto to lower the price of a cab fare as they try and deal with falling ridership. The company launched an online petition today asking Toronto residents to pressure city councillors to lower taxi fares. Cities set the price of a taxi trip, and Beck says Toronto’s rates are some of the highest in North America. The report is expected to call for lower cab fares and regulations for the ride sharing service, Uber. Christine Hubbard, Operations Manager of Beck Taxi is hoping the latter will make for a much more even playing field. Back in July, council voted to review the existing bylaws after tension between city cabbies and Uber drivers reached a boiling point.
Heat Warning For Toronto Now Over
One thing cooling off in the city will be the mercury. Environment Canada has ended the heat warning for the city. It’s kind of hard to believe that the two warmest days of the summer had come in the first nine days of September, with yesterday being one of them.
Bank of Canada Expected to Keep Same Key Interest Rate
The bank of Canada has an announcement on tap for later this morning. It is expected to keep its key interest rate steady at 0.5%. Some good news on overseas markets: Japan’s main index has posted its biggest gain in nearly seven years. The Nikkei jumped 7.7% in trading today after comments by Prime Minister Shinzo Abe raised expectations of more policy measures to shore up economic growth.
Canadians Expect To Work Longer Before Retirement
Retirement may be a few years out of reach for some Canadians. A survey done by the Canadian Payroll Association finds 75% of working Canadians have put aside less than 25% of the money they will need for retirement. 35% expect to work longer before leaving the workforce for good, up to 4 years or more, because they simply don’t have enough saved up. Half of respondents feel they will need more than $1 million to retire. That’s pushed up the expected age of retirement. 5 years ago, it was 58, and now it’s reached 63. Over one-third feel overwhelmed by their debt, with 12% admitting they’re not sure if they’ll ever be debt free. The survey also indicates more Canadians are living pay cheque to pay cheque. 48% say if their pay was delayed even by a week, they would have a hard time meeting their financial obligations.
Apple Ready For Biggest Launch In Its History
Apple will reveal new products today at one of its super-secret events in San Francisco. Apple will attempt to keep up the momentum of the iPhone 6 with the release of an updated version, launch its bid for people’s living rooms with Apple TV and show off a huge new version of the iPad.
Queen Elizabeth II Becomes Britain’s Longest-Serving Monarch
Queen Elizabeth II reached a milestone today by becoming the longest-reigning monarch in Britain’s history, passing Queen Victoria, who served for 63 years and seven months. Prime Minister David Cameron says millions will celebrate the Queen’s historic moment, calling her “a rock of stability in a world of constant change,” whose sense of service and duty has earned admiration across the globe. Buckingham Palace marked the event by releasing an official photo of the Queen taken by photographer Mary McCartney, the daughter of Paul McCartney.