The Alberta government is facing a $1.97-billion deficit and is borrowing to make up what Finance Minister Doug Horner called a 'cash requirement' of $6.3 billion in the 2013-14 provincial budget.
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The surge in Canadian household borrowing over the last five years has been driven by the most indebted families, according to a report by CIBC World Markets released Thursday.
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AP - Italy's borrowing rates skyrocketed during bond auctions Friday, temporarily battering stock markets in Europe as the continent's escalating debt crisis laid siege to the eurozone's third-largest economy.
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AP - The Dow Jones industrial average dropped 280 points Wednesday after Italy's borrowing costs soared, a sign that Europe's debt crisis has spilled into the third-largest economy in the euro bloc.
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