The operating revenues for Canada's spectator sports, event promoters, artists and related industries reached $5.5 billion in 2007, up 9.6% from 2006.
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OTTAWA—Tax cuts are the worst possible economic stimulus with Bank of Canada interest rates heading to zero, and may well have a negative effect on the economy, says a report released by the Canadian Centre for Policy Alternatives (CCPA).
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Employment fell for the fourth consecutive month in February 2009 (-83,000), bringing total losses since the peak of October 2008 to 295,000 (-1.7%). The February employment decrease pushed the unemployment rate up 0.5 percentage points to 7.7%.
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The market value of assets held in employer-sponsored pension funds fell by 8.7% during the third quarter of 2008 to $869.0 billion, the largest quarterly decline in a decade.
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Nearly 600 people joined the One Law for All anti-racist rally against Sharia and religious-based laws in Britain and elsewhere and in defence of citizenship and universal rights in Trafalgar Square and marched towards Red Lion Square in London.
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MOSCOW - A Russian government source expressed astonishment on Friday over a statement made by Canada's defense minister over a flight by a Russian strategic bomber near the Canadian border.
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MONTREAL - Stephen Harper's government has provided funding of $1,000,000 to the Montreal 2009 Just for Laughs Festival. The 27th Festival will take place from July 3 to 26, 2009.
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Foreign acquisitions of Canadian-controlled firms, particularly in mining, manufacturing, retail and accommodation and food services industries, drove the 13.7% increase in assets under foreign control in 2006, the fastest rate of growth since 1999. Canadian assets under Canadian control rose 8.2%.
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Real gross domestic product (GDP) declined 0.8% in the fourth quarter, weakening progressively each month. This was the sharpest quarterly decline since 1991. Declines in exports, capital investment and personal expenditures all contributed to the economic contraction. Final domestic demand fell 1.2%. Government current and capital expenditure rose. Real GDP declined 1.0% in December.
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Visitors from the United States made 5.2 million overnight trips to Canada during the third quarter of 2008, the lowest third-quarter level since records were first kept in 1972.
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