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Air Transat Faces Flight Suspensions Amid Pilot Strike Notice

  Air Transat has announced it will gradually suspend flights starting Monday following a 72-hour strike notice issued by its pilots’ union. The Air Line Pilots Association (ALPA), representing roughly 700 pilots, delivered the notice after nearly a year of unsuccessful negotiations with the airline’s parent company, Transat A.T. Inc. Background The union filed the strike notice on Sunday, giving pilots the legal right to walk off the job as early as Wednesday. Last week, pilots voted 99% in favor of strike action , underscoring their frustration over stalled contract talks. ALPA leaders emphasized that pilots do not want to strike but feel compelled to act after management failed to meet demands for a modernized agreement. Airline Response Air Transat confirmed it will begin suspending flights gradually between December 8 and 9 to prepare for a possible full shutdown. The company stated it is working “around the clock” to reach a deal and minimize disruption for trave...
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The Burden of Rising Borrowing Costs: Canadians Struggle to Make Ends Meet

The rising cost of borrowing is placing a significant burden on Canadians, making it increasingly difficult for them to make ends meet.The prime rate at Canada’s six largest banks increased to 7.2% right after the Bank of Canada’s latest rate hike on Wednesday, further tightening access to credit and the cost of borrowing for Canadians.

As interest rates continue to climb, the cost of borrowing money, whether through mortgages, loans, or credit cards, is becoming more expensive. This situation is particularly challenging for individuals and families with already stretched budgets, as higher interest payments eat into their disposable income. The increased financial strain leaves many Canadians struggling to cover essential expenses such as housing, utilities, and groceries, leading to heightened levels of financial stress and hardship. Furthermore, the higher cost of borrowing also hampers individuals' ability to save for the future or invest in education or business ventures, hindering their long-term financial stability. As a result, it is crucial for policymakers and financial institutions to address this issue and implement measures to alleviate the burden of borrowing costs on Canadians.

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