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REUTERS/Kacper Pempel/Illustration/File Photo Acquire Licensing RightsOTTAWA, Aug 28 (Reuters) - Organized cybercrime is set to pose a threat to Canada's national security and economic prosperity over the next two years, the national signal intelligence agency said on Monday. Cyber criminals continue to show resilience and an ability to innovate their business model, it said. "Organized cybercrime will very likely pose a threat to Canada's national security and economic prosperity over the next two years," said CSE, which is the Canadian equivalent of the U.S. National Security Agency. But Chris Lynam, director general of Canada's National Cybercrime Coordination Centre, said very few crimes were reported and the real amount stolen last year could easily be C$5 billion or more. Tehran likely tolerates cybercrime activities by Iran-based cyber criminals that align with the state's strategic and ideological interests, it added.
Persons: Kacper, Chris Lynam, David Ljunggren, Tomasz Janowski, Grant McCool Organizations: REUTERS, Rights OTTAWA, Communications Security, Western, U.S . National Security Agency, Coordination, Soviet Union, CSE, Thomson Locations: Russia, Iran, Canada, Moscow, Tehran
Canadian Olympian Paul dies in car crash
  + stars: | 2023-08-27 | by ( ) www.reuters.com   time to read: +1 min
Alexandra Paul and Mitchell Islam perform in the senior dance free program at the Canadian Figure Skating Championships in Ottawa January 11, 2014. REUTERS/Chris Wattie/File photo Acquire Licensing RightsAug 27 (Reuters) - Former Olympic figure skater Alexandra Paul has died at the age of 31, Skate Canada said in a statement. Paul, who represented Canada at the Sochi 2014 Games and finished 18th in the ice dance competition, died in a car crash on Tuesday, Canadian media reported. "It is with a heavy heart that Skate Canada announces the sudden passing of a cherished member of our skating community, Alexandra Paul," Skate Canada said in a statement earlier this week. Paul won a silver medal at the World Junior Figure Skating Championships in 2010 and retired from competitive skating in 2016.
Persons: Alexandra Paul, Mitchell Islam, Chris Wattie, Paul, Aadi Nair, Ed Osmond Organizations: REUTERS, Skate, Canada, Thomson Locations: Ottawa, Skate Canada, Canada, Sochi, Bengaluru
[1/2] Condominium and office towers are seen on the mountain-backed skyline of Vancouver, British Columbia, Canada September 30, 2020. The GDP report will be the last major piece of domestic data before the Canadian central bank makes its next policy decision on Sept. 6. The central bank has said it would study economic data closely before determining whether it raises interest rates further. The BoC has projected 1.5% growth for the third quarter, matching its second-quarter estimate. Some argue that the composition of growth in the second-quarter data, including the split between internal and external demand, could also be a consideration.
Persons: Jennifer Gauthier, Carlos Capistran, Bank of America Merrill Lynch, Benjamin Reitzes, we've, Stephen Brown, Andrew Grantham, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: REUTERS, Rights, Bank of Canada, BoC, Bank of America, BMO Capital Markets, Money, North, Capital Economics, CIBC Capital Markets, Thomson Locations: Vancouver , British Columbia, Canada, Canadian, Mexico, North America
One problem: Voters aren't buying it. The lyrics of the 1981 song “Red Barchetta” by the Canadian rock band Rush describe the thrill of racing a vintage roadster in a future when driving is illegal. “I commit my weekly crime,” sings vocalist Geddy Lee , in an era governed by “the motor law” and policed by “a gleaming alloy air car.” That dystopian vision seems a faraway fantasy, but motorists in Michigan may think of it when they learn about a state plan to use Global Positioning System devices to track mileage and tax drivers based on road usage.
Persons: , , Geddy Lee Locations: Canadian, Michigan
REUTERS/Mike Blake Acquire Licensing RightsAug 25 (Reuters) - Private equity firm Veritas Capital has made an offer to buy BlackBerry Ltd (BB.TO), according to a person familiar with the matter, months after the Canadian technology company began a strategic review. Veritas and Blackberry did not immediately respond to Reuters requests for comment. Veritas has made an offer for the entire company, the source said, adding that BlackBerry is also in talks with other potential buyers. Morgan Stanley (MS.N) and Perella Weinberg Partners are acting as financial advisors to BlackBerry for the strategic review. Bloomberg News reported the talks between Veritas and BlackBerry earlier on Friday.
Persons: Mike Blake, Morgan Stanley, Perella Weinberg, Chavi Mehta, Shweta Agarwal, Grant McCool Organizations: REUTERS, Veritas Capital, BlackBerry, Veritas, Malikie Innovations, Perella Weinberg Partners, Bloomberg News, Thomson Locations: Irvine , California, U.S, Canadian, Bengaluru
Data and marketing automation company Klaviyo on Friday became the latest tech company to try to join the public markets. Klaviyo follows grocery-delivery service Instacart's long-awaited IPO filing, also submitted on Friday. Founded in 2012, Klaviyo helps companies store user data and build profiles on them to send targeted marketing via email, text messages and other channels. Klaviyo also has a partnership with Shopify where it is the "recommended email solution" for members of its Shopify Plus program. Klaviyo said it had more than 130,000 customers as of June 30, compared to 105,000 customers a year ago.
Persons: Klaviyo, Japan's SoftBank, Adobe's Magento Organizations: New York Stock Exchange, Securities and Exchange Commission, Klaviyo's, Shopify
Jessica Pegula Is Learning to Use Her Claws
  + stars: | 2023-08-25 | by ( Cindy Shmerler | ) www.nytimes.com   time to read: +1 min
Jessica Pegula strode into Wimbledon’s cavernous interview room, bucket hat perched on her head, and stared at the empty room. When she realized that there were no media members there to ask her about her second-round win over Cristina Bucsa, Pegula chuckled, got up and walked out. At 5-foot-7, Pegula doesn’t have a thunderous serve, like Aryna Sabalenka. Pegula can also flutter emotionally, as when she let a 4-1 lead slip in the third set against the eventual Wimbledon champion Marketa Vondrousova. “Her ball-striking is really, really good,” said David Witt, her coach since 2019.
Persons: Jessica Pegula strode, Cristina Bucsa, Pegula chuckled, Pegula, Marketa Vondrousova, , David Witt, Lindsay Davenport Organizations: Canadian, Wimbledon, United States, eventual Wimbledon Locations: Iga
Opinion | America Has a Mortgage Problem
  + stars: | 2023-08-25 | by ( Peter Coy | ) www.nytimes.com   time to read: +2 min
Indeed, seasonally adjusted sales of new homes rose 31 percent in July from a year earlier, while seasonally adjusted sales of existing homes (a bigger market) fell 17 percent over the same 12 months. The Fed raises rates to cool off the housing market and the inadvertent effect is to increase housing construction. On third glance, though, rate lock really does screw up the housing market. When the inventory of existing homes for sale declines because of rate lock, “the matching process that has to occur becomes more complicated,” he said. In May the inventory of existing homes for sale, 1.08 million, was less than half its average since 1999.
Persons: Robert Dietz, , ” Campbell, Princeton’s Markus Brunnermeier Organizations: National Association of Home Builders Locations: U.S,
The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 103.96 points, or 0.5%, at 19,775.83, giving back some of the previous day's rally. "Considering the softness on the U.S. side, the Canadian market held up well," said Lorne Steinberg, president, Lorne Steinberg Wealth Management Inc. Shares of Toronto-Dominion Bank (TD.TO) were down 3.2% after the bank missed analysts' estimates for quarterly profit. But Royal Bank of Canada (RY.TO) shares ended 2% higher as it beat estimates, helped by cost cutting measures.
Persons: Chris Helgren, Jerome Powell's, Lorne Steinberg, Steinberg, Fergal Smith, Siddarth, Marguerita Choy, Shweta Agarwal Organizations: Toronto Stock Exchange, REUTERS, Tech, RBC, Toronto Stock, Federal, Lorne Steinberg Wealth Management Inc, Dominion Bank, Royal Bank of Canada, Thomson Locations: Toronto , Ontario, Canada, U.S, Toronto, Bengaluru
OTTAWA, Aug 24 (Reuters) - The Canadian regulator responsible for implementing the country's online news law on Thursday said it will start setting up a framework for negotiations between news organizations and internet giants this autumn, with the aim of initiating mandatory bargaining by early 2025. Both companies have said the law is unworkable for their businesses, and Meta has already ended news sharing on its platforms. Google also plans to block news from search results in Canada before the law comes into effect. The regulator will hold a public consultation regarding the framework for negotiations in autumn, CRTC said in a statement. Reporting by Ismail Shakil in Ottawa; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.
Persons: Ismail Shakil, Mark Porter Organizations: OTTAWA, Canada's, Google, Facebook, Meta, Canadian Radio, Telecommunications Commission, Thomson Locations: Canada, Ottawa
REUTERS/Mario Anzuoni//File Photo Acquire Licensing RightsOTTAWA, Aug 24 (Reuters) - Canada's corporate ethics watchdog on Thursday announced investigations into the Canadian units of Walmart (WMT.N) and Hugo Boss (BOSSn.DE) to probe allegations of Uyghur forced labor in the companies' supply chains and operations. The Canadian Ombudsperson for Responsible Enterprise (CORE) said it had published an initial assessment report after complaints filed by a coalition of 28 civil society organizations in June 2022. CORE will also investigate the Canadian unit of fashion firm Diesel, which is owned by Italy's OTB (OTB.L). In March, a U.N. committee said it was concerned about China's treatment of its Muslim minority, including the use of forced labor against Uyghurs. CORE was launched in 2019 to monitor and investigate human rights abuses, mainly by Canadian garment, mining and oil and gas companies operating abroad.
Persons: Mario Anzuoni, Hugo Boss, Italy's OTB, Ralph Lauren, RL.N, Sheri Meyerhoffer, CORE's Ombudsperson, David Ljunggren, Jonathan Oatis Organizations: Walmart, REUTERS, Rights OTTAWA, Responsible Enterprise, Diesel, Nike Canada, CORE, Thomson Locations: Rosemead , California, U.S, China
Toronto-Dominion Bank (TD) logos are seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie/File Photo Acquire Licensing RightsAug 24 (Reuters) - Toronto-Dominion Bank (TD.TO) on Thursday reported a drop in third-quarter profit as the Canadian lender set aside more rainy-day funds to cover losses from borrowers who might fall behind on loan payments. The bank reported adjusted net income of C$3.73 billion ($2.76 billion), or C$1.99 per share, in the three months ended July 31, compared with C$3.81 billion, or C$2.09 apiece, a year earlier. ($1 = 1.3538 Canadian dollars)Reporting by Pritam Biswas in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.
Persons: Chris Wattie, Pritam Biswas, Shweta Agarwal Organizations: Dominion Bank, REUTERS, Thomson Locations: Toronto, Ottawa , Ontario, Canada, Bengaluru
"It's hard to envision," McEnroe said of whether anyone not named Novak Djokovic, Carlos Alcaraz, Daniil Medvedev or even Jannik Sinner could triumph. "But it would be incredible for an American player to make a breakthrough to me, but the likelihood is that it isn't going to happen. "You can see it's going to be Djokovic or Alcaraz, Medvedev is the next guy, and then Sinner. But the North American hard court swing following Wimbledon has been disappointing for the 25-year-old son of immigrant parents from war-torn Sierra Leone. Tommy Paul, who beat Alcaraz at the Canadian Open, Wimbledon quarter-finalist Christopher Eubanks and Sebastian Korda are among the other American players who will look to snap the Grand Slam dry spell at the U.S. Open, which runs from Aug. 28-Sept. 10.
Persons: Frances Tiafoe, Spain's Carlos Alcaraz, Mike Segar, John McEnroe, Andy Roddick, Taylor Fritz, McEnroe, Novak Djokovic, Carlos Alcaraz, Daniil Medvedev, Francis, Alcaraz, Medvedev, Rafa Nadal, Michelle Obama, Fritz, Djokovic, Tommy Paul, Christopher Eubanks, Sebastian Korda, Rory Carroll, Toby Davis Organizations: Spain's Carlos Alcaraz REUTERS, U.S, Flushing, ESPN, Spanish, Wimbledon, Washington DC, Canadian, U.S ., Thomson Locations: Flushing Meadows , New York, United States, New York, Flushing Meadows, American, Sierra Leone, Washington, Toronto, Cincinnati, Los Angeles
Medvedev back in his element on U.S. Open hardcourts
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +2 min
"And what is funny is I love these long rallies, but I love them when the conditions are fast, because then other players can't handle these long rallies," he said. "When the conditions are slow, literally everyone can handle these long rallies because, well, it's like you have no other choice. Medvedev could encounter similar issues with the balls at the U.S. Open but the Russian will not use them as an excuse and is ready to make adjustments to his game if needed. I'm sure that when he started 17 years ago winning Grand Slams, everything was different. He was still winning," said Medvedev.
Persons: Daniil Medvedev, Lorenzo Musetti, Carter Skaggs, Carlos Alcaraz, Novak Djokovic, Alex de Minaur, Alexander Zverev, Medvedev, Novak, I'm, Frank Pingue, Peter Rutherford Organizations: &, Tennis Center, USA, U.S, Wells, Canadian, Cincinnati, Wimbledon, Djokovic, Thomson Locations: Mason, OH, USA, Russia, Italy, New York, Rotterdam, Doha, Dubai, Miami, Canada, Russian, Toronto
As of January 2023, residential mortgage debt stood at C$2.08 trillion ($1.53 trillion), according to the Canada Mortgage and Housing Corporation (CMHC). Mortgage rates tend to track moves in the bond market with a lag. At 6.79%, the five-year mortgage rate posted by major Canadian banks has climbed to its highest since November 2008, data from the Bank of Canada shows. When it is time for renewal, options for homeowners hoping to shop for better interest rates might be limited as they would have to re-qualify for the stress test at the latest interest rates with their new lender. "It certainly is going to be problematic for the Canadian economy if rates stay at this level."
Persons: that's, James Laird, Laird, Daniel Foch, Foch, Stephen Brown, Nivedita Balu, Fergal Smith, Denny Thomas, Jonathan Oatis Organizations: TORONTO, Bank of Canada, Canada Mortgage, Housing Corporation, Ratehub.ca, Bank of, Toronto Regional Real Estate Board, Greater Toronto Area, Reuters, North, Capital Economics, Thomson Locations: United States, Toronto, Greater Toronto, Canada, North America
Lyles takes next step towards sprint double
  + stars: | 2023-08-23 | by ( Mitch Phillips | ) www.reuters.com   time to read: +3 min
The 26-year-old boldly predicted he would run 19.10 in the 200, which would break Usain Bolt's 2009 world record of 19.19, though that long shot would only conceivably come in Friday's final. Lyles was ill with Covid ahead of last month's U.S. trials. "I try to make all my races look as easy as possible, even if they aren't," said Lyles, who is seeking to become the first man to do the sprint double since Bolt in 2015. The 19-year-old Knighton has a personal best of 19.49 - second fastest in the field - and season's best of 19.72. "Noah Lyles will attack the world record, and maybe, if I push him hard, he could set it."
Persons: Noah Lyles, Aleksandra Szmigiel, Lyles, Bolt, Andrew Hudson, I'm, Kenny Bednarek, Erriyon Knighton, Knighton, Bednarek, Britain's Zharnel Hughes, John Regis's, Tebogo, Andre De Grasse, Lori Ewing, Mitch Phillips, Pritha Sarkar Organizations: Athletics Centre, Rights, London Diamond League, Thomson Locations: Budapest, Hungary, U.S
OTTAWA, Aug 23 (Reuters) - The Trans Mountain Expansion (TMX) project has asked Canadian regulators for a route deviation on a 1.3-kilometre (0.8 mile)section of pipeline in British Columbia, months before the 600,000 barrel per day project is due to start shipping crude. In the application TMC said it had encountered "significant technical challenges" micro-tunnelling through hard rock formations and requested to instead adjust the pipeline route and use a conventional open trench. Last week the regulator gave TMC until end of day on Wednesday to provide more information on its request. Now that it is nearing completion, the government has approached Indigenous groups looking at buying a stake in the pipeline. "We are confident that the business case for the Trans Mountain pipeline remains solid," he added, when asked whether the government would have to sell the pipeline for less than it cost to build it.
Persons: Justin Trudeau, We're, Trudeau, Prince Edward Island, Ismail Shakil, Steve Scherer, Nia Williams, Bill Berkrot, Sonali Paul Organizations: OTTAWA, Canada Energy Regulator, Canadian, Trans Mountain Corp, TMC, Thomson Locations: British Columbia, Kamloops, Columbia, Burnaby , British Columbia, United States, Charlottetown, Prince, Ottawa
In the video of the interview, the snipers were seen using American-made Barrett sniper rifles. The sniper's unit is on the front lines somewhere in the Zaporizhzhia region. AdvertisementAdvertisementA view from the viewfinder of a Ukrainian sniper rifle at a shooting range amid Russia and Ukraine war in Donetsk Oblast, Ukraine on August 09, 2023. Inflicting psychological damage on the enemy and breaking their morale has long been a part of sniper operations. In a separate report on another front-line Ukrainian sniper unit, BBC reported that the unit, called the "Ghosts of Bakhmut," claims over 500 kills, with the leader claiming over 70 kills.
Persons: Ukraine's SBU, Barrett, Sasha, Nick Paton Walsh, Ignacio Marin, John Moore, Barrett MRAD Organizations: CNN, Service, Anadolu Agency, Getty, BBC, 28th Brigade, Kyiv Post, Defence, TAC Locations: Wall, Silicon, Zaporizhzhia, Ukrainian, Russia, Ukraine, Donetsk Oblast, Kyiv, Bakhmut
REUTERS/Dan Riedlhuber/File Photo Acquire Licensing RightsLONDON, Aug 22 (Reuters) - The fires that tore through the Canadian province of Quebec between May and July were made at least twice as likely by climate change, scientists said on Tuesday. Climate change, driven by the burning of fossil fuels, also made the fires as much as 50% more intense, according to the analysis by World Weather Attribution group, a global team of scientists that examines the role played by climate change in extreme weather. "Climate change is greatly increasing the flammability of the fuel available for wildfires – this means that a single spark, regardless of its source, can rapidly turn into a blazing inferno," said Yan Boulanger, a research scientist at Natural Resources Canada. Scientists reviewed weather data, including temperature, windspeed, humidity, and precipitation, and used computer models to assess how climate change had altered fire weather this year, comparing it to preindustrial climate. The Quebec fires are just one sliver of what has been the country's worst wildfire season on record.
Persons: Dan Riedlhuber, Yan Boulanger, Philippe Gachon, Gloria Dickie, Devika Organizations: REUTERS, Natural Resources, University of Quebec, Canadian Interagency Forest Fire, Thomson Locations: Okanagan Lake, West Kelowna, British Columbia, Canada, Canadian, Quebec, Natural Resources Canada, Montreal, Yellowknife, Territories, London
Google's AR glasses were beset by a messy strategy, company insiders say. Google's AR fumbles have proven frustrating for employees in the face of mounting competition from Apple and Meta. "They're dabbling," one insider said of Google's AR efforts. Ramin Talaie/Getty ImagesNorth leaders were told they would lead a new project under Google's hardware boss, Rick Osterloh, and Google's AR and VR leader, Clay Bavor. A small group inside the AR division is also exploring how artificial intelligence could be used with AR glasses, a source said.
Persons: Tim Cook, Iris, Google's, Clay, Ramin Talaie, Rick Osterloh, Clay Bavor, Mark Lucovsky, Lucovsky, Paul Greco, , Google's Hiroshi Lockheimer, Samsung's, Bavor, Shahram, Hiroshi Lockheimer, Betty, Barry, Greco, Eddie Chung, Kurt Akeley, Akeley, Justin Sullivan, Meta, Sundar Pichai, it's Organizations: Samsung, Apple, Google, Meta, CBC, Insiders, Vision, SBS Biz, Labs, Pro, Bloomberg Locations: Raxium, Kitchen , Ontario
[1/2] A police officer holds up crime scene tape to allow people to leave after a shooting incident at the West Edmonton Mall in Edmonton, Alberta, Canada August 21, 2023. REUTERS/Kyaw Soe Oo Acquire Licensing RightsAug 22 (Reuters) - Three people suffered serious injuries in a shooting incident at a mall in Edmonton, the capital of the Canadian province of Alberta, city police said on Monday in a post on X, formerly known as Twitter. The victims of Monday's incident at the West Edmonton mall have been taken to hospital for treatment, although the injuries are not life-threatening, the police said. Other staff asked people to gather in a safe area away from doors and windows, another mall visitor said. Reporting by Anirudh Saligrama and Kyaw Soe Oo; Editing by Christian Schmollinger and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.
Persons: Anirudh Saligrama, Soe, Christian Schmollinger, Clarence Fernandez Organizations: West Edmonton Mall, REUTERS, Twitter, West, Reuters, Thomson Locations: Edmonton , Alberta, Canada, Edmonton, Canadian, Alberta, West Edmonton
Royal Bank of Canada named a raft of stocks it expects to "materially outperform" over the next 12 months. Its picks are in sectors from health to software and are named on the bank's list of small-cap conviction list stocks. 'Compelling' and 'sustainable' Lumber producer Interfor is on RBC's list for its "compelling" valuation. "On just about every key valuation metric, including on Trend EBITDA and a capacity basis, Interfor is trading at very low levels," the analysts wrote. The company's management "anticipates aging housing supply along with work-from-home trends will help to offset the impact of heightened interest rates," RBC's analysts wrote.
Persons: Jamieson, Dentalcorp, Enghouse, Interfor, Cargojet Organizations: Bank of Canada, Toronto Stock Exchange, Jamieson Wellness, RBC, Enghouse Systems, Copperleaf Technologies, SAP Locations: China, SavvyWire, Ontario
Cooler conditions bring some hope as Canada wildfires rage on
  + stars: | 2023-08-21 | by ( ) www.reuters.com   time to read: +2 min
Aug 21 (Reuters) - Wildfires ravaging Canada's British Columbia province are showing some signs of easing and the weather conditions should improve through Monday into Tuesday, through crews are still battling "epic" blazes, emergency officials said. Blazes are also raging further north as Canada reels from its worst wildfire season on record, which many experts have blamed on climate change. British Columbia, which sits on Canada's Pacific coast, could get some rains this week from Tropical Storm Hilary, which hit California on Sunday, forecasters have said. The air quality index in many fire-affected areas - including Central Okanagan, Eastern Fraser Valley, Kamloops - hit above 10 on Monday, signaling a high risk, the British Columbia government said. Fires continued to burn about 15 km from Yellowknife and it was unclear when they will reach the city, officials said.
Persons: Hilary, Jerrad Schroeder, Jason Brolund, Brolund, Denny Thomas, Michael Perry, Andrew Heavens Organizations: Canada's, U.S ., Tropical, Kamloops Fire, British Columbia, Government, Northwest Territories, Canada's Department of National Defence, Canadian Broadcasting Corp, Thomson Locations: Canada's British Columbia, Canada, U.S, U.S . Pacific Northwest, British Columbia, California, Kamloops, Central Okanagan, Eastern Fraser Valley, British, New York, U.S . East Coast, Yellowknife, Northwest, West Kelowna
Alberta, the country's main oil and gas producing province, paused approvals on Aug. 3 of new renewable electricity generation projects over one megawatt until Feb. 29, chilling investment in the fast-growing industry. The pause is necessary to address concerns about renewables' reliability and land use, said a spokesperson for Alberta's utilities minister. A second company has paused design work on its first Alberta project, Dye added. Along with domestic firms, foreign companies like Berkshire Hathaway's (BRKa.N) BHE Canada, EDF Renewables and Enel Green Power generate renewable power in Alberta. The pause directly affects 15 projects in the approvals queue, the government spokesperson said.
Persons: Todd Korol, Danielle Smith, Smith, Justin Trudeau's, Jorden Dye, Dye, Pembina, Grant Arnold, Arnold, BluEarth, Dan Balaban, Rod Nickel, Steve Scherer, Denny Thomas, Marguerita Choy Organizations: REUTERS, Rights, Justin Trudeau's Liberal, Business Renewables, THE, THE ALBERTA WAY, EDF Renewables, Companies, Pembina Institute, Renewables, U.S . Alberta Utilities Commission, Greengate, Copenhagen Infrastructure Partners, Thomson Locations: Rocky, Pincher Creek, Alberta, Rights WINNIPEG , Manitoba, Canadian, U.S, Calgary, THE ALBERTA, THE ALBERTA WAY Alberta, Berkshire, Canada, Winnipeg , Manitoba, Ottawa
OTTAWA, Aug 21 (Reuters) - The Canadian government, under pressure over the rising cost of housing, could consider capping foreign student visas, which have rocketed in recent years, new Housing Minister Sean Fraser said on Monday. Official data show there were more than 800,000 foreign students with active visas in 2022, up from 275,000 in 2012. Canada is a popular destination for international students since it is relatively easy to obtain a work permit. Fraser, who was immigration minister before taking up his job last month, said the sharp rise in the number of students was putting pronounced pressure on some housing markets. Asked whether a cap could be imposed on the number of foreign students, he said, "I think that is one of the options that we ought to consider."
Persons: Sean Fraser, Fraser, We've, Prince Edward Island, Justin Trudeau, David Ljunggren, Josie Kao Organizations: OTTAWA, Canadian, Conservative Party, Liberal, Thomson Locations: Canada, Atlantic, Prince
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