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The Canadian Press

Dutch Cabinet meets amid speculation government will quit

THE HAGUE, Netherlands — The Dutch Cabinet was set to meet Friday amid strong speculation that Prime Minister Mark Rutte’s government will resign to take political responsibility for a scandal involving investigations into child welfare payments that wrongly labeled thousands of parents as fraudsters. If Rutte’s centre-right, four-party coalition quits, it will come just under a month before parliament was due to break up ahead of a March 17 general election. Rutte’s government would remain in power in a caretaker capacity until a new coalition is formed after the election. The Netherlands is the third European country thrown into political uncertainty this week in the midst of the coronavirus crisis. In Estonia, the government resigned over a corruption scandal, while Italian Premier Giuseppe Conte’s administration is at risk of collapse after a small coalition party withdrew its support. Rutte said earlier this week that his government would be able to keep taking tough policy decisions in the battle against the coronavirus even if it is in caretaker mode. The country already is in a tough lockdown until at least Feb. 9 and the government is considering imposing a curfew for the first time since the pandemic began amid fears about new, more contagious variants of the virus. On Thursday, the leader of the Dutch opposition Labor Party stepped down because he was minister of social affairs in a governing coalition led by Rutte when the country’s tax office was running a tough policy of tracking down fraud with child welfare. Lodewijk Asscher’s decision put further pressure on Rutte ahead of Friday’s Cabinet meeting at which ministers were to decide on their reaction to a scathing report issued last month, and titled “Unprecedented Injustice,” that said the tax office policies violated “fundamental principles of the rule of law.” The report also criticized the government for the way it provided information to parliament about the scandal. Many wrongfully accused parents were plunged into debt when tax officials demanded repayment of payments. The government has in the past apologized for the tax office’s methods and in March earmarked 500 million euros ($607 million) to compensate more than 20,000 parents. Rutte plans to lead his conservative People’s Party for Freedom and Democracy into the next election and polls suggest it will win the most seats. That would put Rutte, who has been in office for a decade at the head of three different coalitions, first in line to attempt to form the next ruling coalition. Coalition parties met separately Thursday night ahead of Friday’s Cabinet meeting. The leader of the D66 party, Sigrid Kaag, told RTL News after the meeting that her party discussed “taking political responsibility” for the scandal. “It is about accountability and responsibility in the corona crisis but also for the injustice,” she said. Mike Corder, The Associated Press

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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