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Canadians now expect to need $1.7M in order to retire: BMO survey

Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey. The eye-watering figure is the largest sum since BMO first started surveying Canadians about their retirement expectations 13 years ago.

Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey. A man looks over a brochures offering various retirement savings options Friday, February 3, 2012 in Montreal. (THE CANADIAN PRESS/Ryan Remiorz)

Quake deaths pass 5,000 as Turkiye, Syria seek survivors

Search teams and emergency aid from around the world poured into Turkiye and Syria on Tuesday as rescuers working in freezing temperatures dug, sometimes with their bare hands, through the remains of buildings flattened by a magnitude 7.8 earthquake. The death toll soared above 5,000 and was still expected to rise.

Emergency teams search for people in the rubble of a destroyed building in Adana, southern Turkiye, Feb. 7, 2023. (AP Photo/Hussein Malla)

Why wasn't the suspected Chinese spy balloon shot down over Canada?

Critics say the U.S. and Canada had ample time to shoot down a suspected Chinese spy balloon as it drifted across North America. The alleged surveillance device initially approached North America near Alaska's Aleutian Islands on Jan 28. According to officials, it crossed into Canadian airspace on Jan. 30, travelling above the Northwest Territories, Alberta and Saskatchewan before re-entering the U.S. on Jan 31.

China says will 'safeguard interests' over balloon shootdown

China said Tuesday it will 'resolutely safeguard its legitimate rights and interests' over the shooting down of a suspected Chinese spy balloon by the United States, as relations between the two countries deteriorate further. The balloon prompted U.S. Secretary of State Antony Blinken to cancel a highly-anticipated visit to Beijing this week that had offered slight hopes for an improvement in relations.

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