U.S. Economy Grows; Jobless Claims Little Changed

Aug. 28 (Bloomberg) -- U.S. gross domestic product, the value of all goods and services produced, rose at a 4.2 percent annualized rate, up from an initial estimate of 4 percent, Commerce Department figures showed today in Washington. Separately, initial jobless claims decreased by 1,000 to 298,000 in the week ended Aug. 23 from 299,000 in the prior period, the Labor Department reported. Betty Liu and Scarlet Fu report on Bloomberg Television's "In the Loop." (Source: Bloomberg)

CIBC's Tal: We Need to Monitor Subprime Loans in Canada
11:54 - According to the latest report from CMHC, condo building activity in Toronto appears to be "well managed," unlike the 1980s housing bubble. Yet, BOC Governor Stephen Poloz recently addressed the pace of rising home prices in Canada's two hottest markets - Toronto and Vancouver. Benjamin Tal, deputy chief economist at CIBC World Markets, joins Bloomberg TV Canada's Amanda Lang to discuss the current state of the Canadian housing market, where it's headed and what measures need to be taken to "cool" foreign buyers. (Source: Bloomberg)
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