Canada hikes rate amid trade tension

The Bank of Canada announced on Wednesday it was raising the benchmark interest rate from 1.25 percent to 1.5 percent, partly due to rising trade tensions with the United States. The US has been pressuring Canada and Mexico for more favorable trade terms in the renegotiation of the North American Free Trade Agreement. Washington earlier this year slapped a 25 percent tariff on steel imports and 10 percent tariff on aluminum imports, with Canada among the major targets. It also threatened to impose higher duties on the automotive sector. July 6, the US Energy Information Administration said in a report on Wednesday. According to the Weekly Petroleum Status Report, US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 12.6 million barrels during the week ending July 6, the biggest weekly drop in domestic crude supplies in nearly two years. At 405.2 million barrels, US crude oil inventories are about 4 percent below the five year average for this time of year. of at least 50 million euros ($58.8 million) were surveyed. The term “startup” was defined as innovative and quickly growing ventures of an age of 10 years or less. The study which was co-published by the research institute shows that for 54 percent of traditional family businesses, the main reason to work with startups is to advance knowledge and use of new technologies. key advance indicator for corporate capital spending and the government uses the data to predict the strength of business spending in a six to nine month period ahead.