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The Subway That Took a Generation: Why the Eglinton Crosstown’s Delays Were Even Worse Than You Think

  Toronto has a long history of transit projects that drag on, but the Eglinton Crosstown LRT has become the city’s defining example of how complicated, political, and painfully slow building transit can be. Most people think of the project as something that started in the early 2010s and simply ran over schedule. The truth is far messier—and stretches back decades. A Project With Roots in the 1990s Long before shovels hit the ground in 2011, the idea of rapid transit along Eglinton was already alive. In the mid‑1990s, the TTC began digging tunnels for what was then called the Eglinton West Subway . Construction actually started—tunnels were being carved out under the street—until the project was abruptly cancelled in 1995. The partially built tunnels were filled in, and the corridor sat untouched for years. That early false start meant that by the time the Crosstown was revived as part of the Transit City plan in 2007, planners weren’t starting fresh. They were restarting a dr...
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Stocks Hit by Inflation Woes: ECB Meeting and Market Turbulence

 


Global markets are on edge as investors grapple with inflation concerns. Here’s a snapshot of recent events:

  1. ECB Meeting: Traders are closely monitoring the European Central Bank (ECB) meeting. Stubborn U.S. inflation numbers triggered a significant global market selloff, leaving Japan’s yen at a 34-year low. The ECB’s decision could set the tone for further market movements.

  2. U.S. Stocks: Futures for the Dow Jones Industrial Average and S&P 500 slipped around 0.3%, following a recent rout. The tech-heavy Nasdaq 100 also dipped about 0.2%. Investors are recalibrating expectations for Federal Reserve policy, with the market now pricing in just two rate cuts in 2024. Some analysts even speculate that no cuts or a hike may be possible, depending on economic data.

  3. Bond Yields: The 10-year Treasury yield steadied after surging to its highest level since November. The focus now shifts to the Producer Price Index reading to gauge wholesale inflation’s impact on Fed decisions.

  4. Oil Prices: Rising oil prices remain a headwind. Crude futures, near six-month highs, hover around $86 per barrel for West Texas Intermediate and above $90 for Brent. Geopolitical tensions, including concerns about a potential Iran-Israel conflict, contribute to the volatility.

  5. Corporate Earnings: As first-quarter corporate results trickle in, investors await updates from major banks like JPMorgan. High borrowing costs continue to be a concern, but positive earnings reports could provide momentum to stocks.

In this dynamic landscape, market participants keep a close eye on central bank actions, inflation data, and geopolitical developments. Buckle up for a roller-coaster ride as uncertainty prevails in the financial world.

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