Canadians Invade US as Loonie Climbs

First time Loonie equaled greenback since Nov. 1976

(NEWSER) - The Canadian dollar reached parity with its US counterpart for the first time in over 30 years yesterday. As recently as March 2002, $1 American bought $1.60 Canadian, but the struggling US economy and the recent interest rate cut have pulled the greenback down, while increased demand for Canadian products such as wheat, oil and coal have buoyed the Loonie. More»

America will end up as an also-ran if it can't reinvigorate its economy

(NEWSER) - America used its financial clout to knock the British Empire into second place last century and it's in danger of receiving the same treatment from China in the not-too-distant future, writes Zachary Karabell. China is the American government's biggest creditor, much as the US was to Britain in 1946, Karabell notes, and while the arrangement works fine for both parties now, it gives the Chinese the power to deliver a knockout blow to the US economy and the American dollar should the two nations' interests diverge. More»

Climate change opens north to shipping, tourism, resource development

(NEWSER) - Climate change is melting away the main barrier to business in the Arctic—ice—but the US lags behind other countries seeking to exploit the region, the Anchorage Daily News reports. As receding ice opens the area to shipping, resource exploitation, and tourism, it's Russia and Canada who have established transport rules and studied the ocean floor. "It's like the new Strait of Gibraltar," says a Coast Guard captain of the Bering Strait. More»

Construction hassles, dim future depress Whistler residents

(NEWSER) - Whistler Village, Canada, celebrated when it learned it would host many events as part of the 2010 Winter Olympics in nearby Vancouver. But the honeymoon is pretty much over, the Seattle Times reports. Clogged roads, endless construction, and soon-to-be-closed schools have residents ruing the decision. And their ire doesn’t even address a terrifying possibility: all the inconvenience may not improve the lot of the struggling resort town. More»

(NEWSER) - Fewer Americans visited Canada last month than at any time since record-keeping began in 1972, as new passport controls and a weak US dollar kept tourists away. One-day car trips dropped 26% from May to June, and US tourists in Canada fell to half their number 5 years ago. The dramatic drop has dealt a blow to the tourism industry on both sides of the border, reports the Globe and Mail. Only 30% of Americans have a passport, which is now required for driving north of the border. More»