SASKATOON, SK, March 17, 2023 /CNW/ – Today, Terry Duguid, Parliamentary Secretary to the Minister of Environment and Climate Change and Member of Parliament for Winnipeg South, and Charlie Clark, Mayor of Saskatoon, announced a joint investment of more than $2.6 million to support the construction of pedestrian and cycling infrastructure on Dudley Street between Dawes Avenue and Spadina Crescent in Saskatoon.
The project will add 1 kilometre of multi-use pathway west of Avenue P, 800 meters of neighbourhood bikeway, and approximately 1 kilometre of sidewalk to connect residential neighbourhoods with employment areas such as the West Industrial Area, recreation spaces, as well as the Meewasin Trail along the South Saskatchewan River. Completing this key link in the City’s active mobility network will offer residents more urban transportation options and will help promote an active lifestyle in the community.
Funding announced today contributes to Canada’s National Active Transportation Strategy by supporting activities that will help expand networks of sidewalks, pathways, trails and pedestrian bridges.
By investing in infrastructure, the Government of Canada is growing our country’s economy, increasing the resiliency of our communities, and improving the lives of Canadians.
Quotes
“As we look to the future, it’s vitally important that we keep making investments in our active transportation infrastructure here in Saskatoon. The new pedestrian and cycling infrastructure on Dudley Street will make it easier for community members to choose safe, clean, and affordable transportation options. Investments like these make our communities better places to live, work and play.”
Terry Duguid, Parliamentary Secretary to the Minister of Environment and Climate Change and Member of Parliament for Winnipeg South, on behalf of the Honourable Dominic LeBlanc, Minister of Intergovernmental Affairs, Infrastructure and Communities
“We have been working hard to create safer ways for people to walk and cycle between neighbourhoods. Thank you to the Federal Government for this crucial support. This funding helps us build a corridor in the city’s southwest, a safe alternative to the busy 11th Street. It will enable residents to connect from the Gordie Howe Sports Complex to the Meewasin Trail, all the way to the Downtown.”
Charlie Clark, Mayor of Saskatoon
Quick facts
The Government of Canada is investing $1,610,031 in this project through the Active Transportation Fund, while the City of Saskatoon is contributing $1,073,354.
Federal funding is conditional on the signing of the funding agreement.
Active transportation refers to the movement of people or goods powered by human activity, and includes walking, cycling and the use of human-powered or hybrid mobility aids such as wheelchairs, scooters, e-bikes, rollerblades, snowshoes and cross-country skis, and more.
The Active Transportation Fund is providing $400 million over five years starting in 2021 to make travel by active transportation easier, safer, more convenient and more enjoyable, in support of Canada’s first National Active Transportation Strategy.
Applications for planning and capital projects from eligible Indigenous recipients are accepted on an ongoing basis.
Municipal governments, local and regional governments such as service districts, and Indigenous organizations are eligible recipients. Provinces, territories, and not-for-profit organizations are also eligible in specific circumstances.
The Active Transportation Fund complements Canada’s strengthened climate plan: A Healthy Environment and a Healthy Economy. The plan commits the federal government to providing permanent federal funding for public transit in support of making clean and affordable transportation options available in every community.
Canada’s National Active Transportation Strategy is the country’s first coast-to-coast-to-coast strategic approach for promoting active transportation and its benefits. The strategy’s aim is to make data-driven and evidence-based investments to build new and expanded active transportation networks and to create safe environments for more equitable, healthy, active and sustainable travel options to thrive.
Active transportation infrastructure provides many tangible benefits, creating good middle-class jobs, growing the economy, promoting healthier lifestyles, advancing equity amongst vulnerable Canadians, cutting air and noise pollution, and reducing greenhouse gas emissions. Investing in safer active transportation infrastructure is key to ensuring people of all ages and abilities can access jobs and services and connect with their communities.
The Government of Canada is investing $14.9 billion over eight years in reliable, fast, affordable, and clean public transit, including active transportation infrastructure. This funding includes $3 billion per year in permanent, predictable federal public transit funding which will be available beginning in 2026-27.
Since 2015, the Government of Canada has invested over $24.8 billion in transit projects across the country, providing Canadians with cleaner and more efficient commuting options.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
