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Canada to Curb Foreign-Worker Influx After Jobless Rate Jumped

LivemintLivemint · 10m ago
Canada to Curb Foreign-Worker Influx After Jobless Rate Jumped
Medial

Canada is tightening restrictions on a program that allows companies to hire low-wage foreign workers. The move comes after criticism that the program has grown too quickly and failed to prevent the abuse of temporary workers. Currently, businesses can hire temporary foreign employees to fill up to 20% of their workforce, but this limit will soon be reduced to 10% for most sectors. Additionally, a previous rule banning the hiring of new temporary foreign workers for low-wage jobs in regions with an unemployment rate of 6% or higher will be reinstated. Certain industries facing labor shortages will be exempt from these changes. The decision to tighten restrictions comes as Canada faces rising unemployment rates and criticism over the exploitation of temporary workers.

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Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000

LivemintLivemint · 7m ago
Euro rebounds as French bonds stabilize; bitcoin jumps past $100,000
Medial

The euro rallied as French government bonds stabilized following the collapse of France's government. Bitcoin hit a record high of $103,649 on expectations of a crypto-friendly regulatory environment under President-elect Donald Trump. The dollar dropped after higher-than-expected US jobless claims. The focus is now on the US nonfarm payrolls report, which is anticipated to show 200,000 jobs added in November. The euro was on track for a weekly loss, its fourth in the last five weeks, and the European Central Bank is expected to cut interest rates. The Japanese yen rose on speculation about a potential interest rate hike by the Bank of Japan. The South Korean won dipped slightly after market stabilization funds were activated following political unrest. The dollar index fell after weak US jobless claims data.

Canada to crack down on foreign investment in digital media sector

Economic TimesEconomic Times · 1y ago
Canada to crack down on foreign investment in digital media sector
Medial

Canada is tightening restrictions on foreign investment in the interactive digital media sector to protect national security. Innovation Minister Francois-Philippe Champagne announced increased scrutiny on investments by entities owned or influenced by foreign states, targeting those engaged in activities that may pose a risk to Canada. The move comes as Canada aims to prevent state-sponsored actors, including Russia and China, from spreading disinformation and manipulating information. Foreign investors will now need to provide stricter undertakings for a longer period of time regarding creative independence, corporate governance, and transparency. Factors such as reach, audience, and level of control will be considered for proposed foreign investments.

Market climb to fresh record high post Fed outcome; rupee strong

Money ControlMoney Control · 9m ago
Market climb to fresh record high post Fed outcome; rupee strong
Medial

The Indian market continued its upward momentum and reached fresh record highs during the week ending September 20. This was largely driven by the unexpected 50 basis points interest rate cut by the US Federal Reserve, as well as positive factors such as a fall in jobless claims, inflow of foreign institutional investors (FIIs), and expectations of a similar move by the Reserve Bank of India (RBI). The BSE Sensex and Nifty50 indices both posted gains, with the BSE Mid-cap and Large-cap indices also showing positive movements. The Nifty Realty, Bank, Auto, and FMCG sectors made notable gains, while the IT, Media, and Pharma sectors experienced declines. The Indian rupee strengthened against the US dollar, and FIIs continued to buy equities in the Indian market.

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