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3/10/2010
Toronto/AM640 News
Mayor David Miller announced Wednesday a budget surplus of $350 Million, after it was estimated the surplus was at $250 Million in February.
The surplus will lower next year's property tax increase from four per cent to 2.9 per cent while the business property tax will be cut to under one per cent.
It was also announced no fare hikes for the TTC as part of a planned balanced budget for 2011.
Miller says the surplus comes from several initiatives, including, "cost containment measures, waste constraint, higher than expected interest and investment earnings, parking revenues, increases in suplementary taxes, and reduction in assesment appeals."
This announcement came after a highly publicized press conference, with speculations of Miller's career decisions surrounding an upcoming mayoral vote.
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3/10/2010
Toronto/AM640 News
The Los Angeles Police Department confirms Actor Corey Haim has died at the age of 38.
The North York native died at 3:30 a.m. Wednesday of an apparent accidental overdose, according to the LAPD's North Hollywood Division.
He was found unresponsive at an Oakwood apartment, and later pronounced dead Providence St. Joseph's Medical Center in Burbank.
His mother was at the home at the time.
The actor, who has struggled with drug addiction, was a teen heartthrob in the 80s and appeared in several movies, including "The Lost Boys" along with fellow teen idol Corey Feldman.
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3/10/2010
Toronto/AM640 News
A gang of suspected Toronto-area bank robbers are due in a Toronto court today.
They were nabbed down in Windsor late last week, as they tried to getaway from a robbery at a CIBC branch there.
The three men, a woman and a boy are accused of eight bank heists in the GTA.
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3/10/2010
Toronto/AM640 News
Some business experts are suggesting the loonie will soar above parity with the U.S. dollar by summer.
CIBC World Markets figures the market is firming up, ahead of expected interest rate hikes, starting in July.
This morning, the loonie is worth 97.5 cents U.S.
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3/10/2010
Toronto/AM640 News
In a bid to hide their business from prying ears Toronto Police are moving to a new radio system.
The force will spend upwards of $35 million dollars for encrypting equpment that will prevent scanners used by media outlets and tow-truck operators from picking up their signal; and terrorists from keeping tabs on what they're up to.
The system could be in place for the G20 summit in June.
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