August 27, 1999 |
Inside the concrete-slab walls of Stage 6 of the Lions Gate Studios is a Spanish-style building that looks like a small California home, down to its red tile roof and backyard barbecue pit. The cozy abode with its neatly trimmed lawn looks as if it once housed a GI returning from World War II and his family, the kind of place that would easily blend into a neighborhood in San Gabriel, Canoga Park or any number of Southern California communities.
May 5, 1999 |
Canada cut short-term interest rates Tuesday, a move that may make Hollywood executives happy--but not the rank-and-file workers in Hollywood. The move weakened the Canadian dollar, which has been rallying strongly against the U.S. dollar since mid-March. Between spring 1997 and mid-1998 it was the U.S. dollar that was on top, as its value soared against the Canadian currency--a boon for U.S. TV and movie studios that have moved a significant share of production north.
August 13, 1998 |
Evidence of how Asia's sickly yen, won and other currencies have infected Canada abounds in this postcard-perfect setting in the northern Rockies. The tour buses that once delivered visitors by the hundreds from Tokyo and Seoul, fueling a boom that transformed this village into a resort with visions of rivaling Aspen, are fewer and fewer.
July 30, 1998 |
The Canadian dollar's value is tumbling, but exactly why is anyone's guess. In the meantime, the currency's slide is making Canada a cheaper destination for U.S. tourists. The Canadian dollar on Wednesday reached a record low against the U.S. dollar: One American buck now buys $1.508 Canadian. That's 6% more than the U.S. dollar bought in April and 12% more than in early 1997. To put the numbers in more perspective, a U.S. dollar was worth just $1.10 Canadian in 1992.
November 29, 1997 |
Canada's dollar is near an 11-year low, hammered by Asia's financial turmoil and sliding commodity prices, but economists say the situation is a long way from a crisis and may reverse itself by next year. "This is not a currency crisis. It's not even a currency problem of the sort that we saw in 1995. What you have is a currency languishing at levels that had not been anticipated," said Tim O'Neill, chief economist at Bank of Montreal.
November 9, 1996 |
Thanks to three years of government austerity, a tough anti-inflation stance by the central bank and a boom in trade with the United States, the Canadian economy, which not long ago was derided by international investors as similar to that of a banana republic, may be poised for a long-awaited breakthrough. Recent economic indicators point that way.