Top Business Headlines Morning Edition

June 8, 2023

Top News

Peter Power/The Globe and Mail

Rogers pitches framework to enter arbitration if no deal is made to access Toronto subway system

Alexandra Posadzki

Telecom Reporter

Rogers Communications Inc. RCI-B-T has proposed a framework to Ottawa that would see the telecom enter into arbitration with BCE Inc., Telus Corp. and Quebecor Inc. if it is unable to reach commercial agreements with at least one of those carriers by Aug. 15 regarding access to its wireless network on Toronto’s subway system.

BCE BCE-T and Telus T-T have been pressing federal Industry Minister François-Philippe Champagne to help them secure a commitment from Rogers that their customers will be allowed onto the network concurrently with Rogers customers.

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Editorial Picks

Delcia Lopez/The Associated Press

ESG backlash may be dampening investor interest in U.S., but there’s a rebound in Canada

Jeffrey Jones

ESG and Sustainable Finance Reporter

Sean Kilpatrick/The Canadian Press

Bank of Canada hikes rates by a quarter point amid stubbornly high inflation, resilient economy

Mark Rendell

Dado Ruvic/Reuters

Spurned suitor for BlackBerry smartphone patents sues to unwind sale to another buyer

Sean Silcoff

Technology Reporter

Opinion

Sean Kilpatrick/The Canadian Press

The Bank of Canada rediscovers good old-fashioned ‘excess demand’

David Parkinson

We don’t have a lot to go on, yet, to explain why the Bank of Canada pushed aside its short-lived pause and raised interest rates again. But based solely on the text of Wednesday’s rate announcement, it might have been simple arithmetic.

The central bank appears to have done some math around the stronger-than-expected, first-quarter economic growth data, and abandoned its wait-and-see stand in favour of resuming rate hikes. In the five-paragraph statement that served as the day’s only supporting document for the policy shift, the phrase “excess demand” – absent from rate-decision statements during the bank’s three-month pause in rate hikes – returned with conspicuous prominence.