News

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Published by The Canadian Press | Updated Feb 06, 2024
Home sales, prices rise in Montreal amid optimism around interest rates: board
Reading Time: < 1 minute MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales jumped 18 per cent in January compared with the same month a year earlier. The association says home sales in the region totalled 2,077 for the month, up from 1,766 in January 2023. The median price of a single-family home in… Continue reading Home sales, prices rise in Montreal amid optimism around interest rates: board
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Published by The Canadian Press | Updated Feb 06, 2024
The great wealth transfer: How adult kids can start talking to their parents about it
Reading Time: 3 Min A massive financial shift is set to take place in the coming years as baby boomers pass their assets down to the millennial and gen Z cohorts. But many parents aren’t preparing their adult children to handle that wealth. CPA Canada says it’s expected to be the largest generational transfer of wealth in Canadian history,… Continue reading The great wealth transfer: How adult kids can start talking to their parents about it
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Published by The Canadian Press | Updated Jan 21, 2024
All eyes on the BoC this week for any hints on when it plans to cut interest rates
Reading Time: 3 Min OTTAWA — As the Bank of Canada gears up to announce its next interest rate decision Wednesday, economists will be on the lookout for any clues on when it plans to start cutting interest rates.  Overall, Wednesday shouldn’t bring any big surprises. The central bank is widely expected to continue holding its key interest rate… Continue reading All eyes on the BoC this week for any hints on when it plans to cut interest rates
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Published by The Canadian Press | Updated Jan 05, 2024
Here's a quick glance at unemployment rates for December, by Canadian city
Reading Time: 2 Min OTTAWA — The national unemployment rate was 5.8 per cent in December. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the… Continue reading Here’s a quick glance at unemployment rates for December, by Canadian city
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Published by The Canadian Press | Updated Jan 10, 2024
Global food prices declined from record highs in 2022, the UN says. Except for these two staples
Reading Time: 2 Min ROME (AP) — Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly changes in the international prices… Continue reading Global food prices declined from record highs in 2022, the UN says. Except for these two staples
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Published by The Canadian Press | Updated Jan 09, 2024
Time to replace your car? How to tell when repair bills are no longer worth it
Reading Time: 3 Min TORONTO — Deciding whether to fix your aging car again or trade it in for a new one can be a tough calculation at the best of times, let alone when financing costs have significantly jumped and car prices have soared. Whether to repair or replace your car comes down to balancing the cost and… Continue reading Time to replace your car? How to tell when repair bills are no longer worth it
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Published by The Canadian Press | Updated Jan 07, 2024
Price cuts boost Tesla 4Q sales, beating estimates as electric vehicle growth rate slows
Reading Time: < 1 minute DETROIT (AP) — Steep price cuts helped electric vehicle maker Tesla Inc. increase its fourth-quarter vehicle sales by almost 20% as EV sales growth slowed across the industry. The Austin, Texas, company said Tuesday that it sold 484,507 vehicles worldwide from October through December. That handily beat Wall Street estimates of 473,000 for the quarter… Continue reading Price cuts boost Tesla 4Q sales, beating estimates as electric vehicle growth rate slows
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Published by The Canadian Press | Updated Dec 27, 2023
Child-free finances: How your financial needs, concerns differ if you don't have kids
Reading Time: 3 Min As the child-free lifestyle surges in popularity among younger generations, many might imagine it means having a lot more money to spend, but that’s not always the case. In fact, it’s not a prioritized clientele in the financial planning world, some experts say – and it’s one with its own unique needs. According to Statistics… Continue reading Child-free finances: How your financial needs, concerns differ if you don’t have kids
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Published by The Canadian Press | Updated Dec 27, 2023
Canadian Press NewsAlert: Harry Rosen, founder of Canadian menswear chain, dies at 92
Reading Time: < 1 minute TORONTO — The founder of Canadian men’s clothing retailer Harry Rosen Inc. has died at 92. Harry Rosen opened his first made-to-measure menswear store on Parliament Street in Toronto in 1954 and ran the company for 51 years until his son, Larry Rosen, became chairman and CEO. In a statement, Larry confirmed his father’s passing… Continue reading Canadian Press NewsAlert: Harry Rosen, founder of Canadian menswear chain, dies at 92
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Published by The Canadian Press | Updated Jan 06, 2024
Creeping price points: A look at the rising cost of Canada's streaming TV services
Reading Time: 2 Min Streaming TV isn’t getting any cheaper. After it was once heralded as the cost-effective alternative to cable, the price of Canada’s streaming services is inching higher every year. And the story was no different in 2023 when inflation, production costs and efforts to turn a profit led many of the biggest names in the business… Continue reading Creeping price points: A look at the rising cost of Canada’s streaming TV services
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Published by The Canadian Press | Updated Dec 24, 2023
Bulls, bears and Bay Street: Test your knowledge of 2023's business news
Reading Time: 6 Min 1. What sector led a rally in North American equity markets during the first half of 2023? a. Technology  b. Energy c. Banks d. Telecommunications — 2. Midway into the year, which airline division(s) did WestJet say it planned to shut down? a. Swoop b. Sunwing Airlines c. Swoop and Flair d. Swoop and Sunwing… Continue reading Bulls, bears and Bay Street: Test your knowledge of 2023’s business news
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Published by The Canadian Press | Updated Dec 24, 2023
More Canadians to feel pinch of high rates in 2024, making way for lower inflation
Reading Time: 3 Min OTTAWA — As another inflation-fighting year wraps up, the Bank of Canada’s quest to restore price stability is expected to begin drawing to a close in 2024. The central bank’s hefty rate hikes are finally bearing fruit, allowing it to hold its key interest rate steady at five per cent over the last few months. … Continue reading More Canadians to feel pinch of high rates in 2024, making way for lower inflation
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Published by The Canadian Press | Updated Dec 27, 2023
1 in 4 Canadians fear income won't cover basic needs: Salvation Army poll
Reading Time: 2 Min TORONTO — A new survey suggests one in four Canadians are extremely concerned about having enough income to cover their basic needs, with the highest degree of hardship being felt by single parents. The Salvation Army released the data today as part of their annual report examining Canadians’ attitudes and experiences with poverty and related… Continue reading 1 in 4 Canadians fear income won’t cover basic needs: Salvation Army poll
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Published by The Canadian Press | Updated Dec 18, 2023
Love it or hate it, self-checkout is here to stay. But it's going through a reckoning
Reading Time: 4 Min NEW YORK (AP) — The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs. All that has happened since the rollout of self-checkout but so has this: Customers griping about… Continue reading Love it or hate it, self-checkout is here to stay. But it’s going through a reckoning
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Published by The Canadian Press | Updated Dec 18, 2023
TD racial equity audit finds bank has taken significant steps, more work to be done
Reading Time: < 1 minute TORONTO — TD Bank Group has released its first racial equity audit that finds the bank has taken significant steps toward promoting diversity and inclusion, but could do more on aspects like consistency and measurement. TD was the first of the Big Six banks, and among the first companies in Canada, to agree to conduct… Continue reading TD racial equity audit finds bank has taken significant steps, more work to be done
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Published by The Canadian Press | Updated Dec 15, 2023
Bell, Telus now offering equal wireless access to Rogers on TTC as key deadline looms
Reading Time: < 1 minute TORONTO — Telus Corp. and Bell Canada customers now have wireless service in all TTC subway stations and additional tunnel areas after Rogers Communications Inc. expanded access for its own customers nearly a month ago. The move comes ahead of next Wednesday’s deadline for Canada’s four major wireless carriers to reach commercial agreements for subway… Continue reading Bell, Telus now offering equal wireless access to Rogers on TTC as key deadline looms
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Published by The Canadian Press | Updated Dec 15, 2023
Macklem says 2024 likely to be ‘transition’ year as economy slows, inflation falls
Reading Time: 2 Min TORONTO — Bank of Canada governor Tiff Macklem says he expects 2024 to be a transition year as higher interest rates slow down the economy, making way for lower inflation. In his final speech of the year, the governor lays out his expectations for a softer economy next year and offers criteria for the central… Continue reading Macklem says 2024 likely to be ‘transition’ year as economy slows, inflation falls
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Published by The Canadian Press | Updated Dec 14, 2023
Bill that lifts GST from rental developments, amends competition law to become law
Reading Time: < 1 minute OTTAWA — Legislation that lifts GST charges off rental developments and amends the country’s competition law has passed in the Senate and is poised to become law. Finance Minister Chrystia Freeland introduced the legislation this fall in response to growing concerns about housing and affordability in the country. The federal government is lifting GST charges… Continue reading Bill that lifts GST from rental developments, amends competition law to become law
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Published by The Canadian Press | Updated Dec 14, 2023
Don't get lost in the 'distant sci-fi': Cohere prefers to focus on AI's simpler side
Reading Time: 4 Min TORONTO — In a world where artificial intelligence has helped professional soccer teams develop game strategies, created a fake viral tune reminiscent of Drake and The Weeknd and played brewmaster, Nick Frosst loves the simpler uses of the technology.  The Cohere co-founder’s eyes light up as he sits in his AI company’s Toronto meeting and… Continue reading Don’t get lost in the ‘distant sci-fi’: Cohere prefers to focus on AI’s simpler side
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Published by The Canadian Press | Updated Dec 14, 2023
Statistics Canada says household debt-to-income ratio lower in Q3, service costs up
Reading Time: < 1 minute OTTAWA — Statistics Canada says the amount Canadians owe relative to their income edged lower in the third quarter, but the cost of servicing that debt relative to income climbed higher. The agency says household credit market debt as a proportion of household disposable income in the third quarter fell to 181.6 per cent, on… Continue reading Statistics Canada says household debt-to-income ratio lower in Q3, service costs up
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Published by The Canadian Press | Updated Dec 14, 2023
Bank of England holds interest rates at a 15-year high despite worries about the economy
Reading Time: 2 Min LONDON (AP) — The Bank of England kept borrowing rates unchanged Thursday despite mounting worries over the state of the British economy, and it showed little sign that it is contemplating cutting them anytime soon — unlike the U.S. Federal Reserve. The central bank left its main interest rate at a 15-year high of 5.25%,… Continue reading Bank of England holds interest rates at a 15-year high despite worries about the economy
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Published by The Canadian Press | Updated Dec 14, 2023
Rogers hails successful satellite-to-mobile phone call, with N.L. premier on one end
Reading Time: 2 Min ST. JOHN’S, N.L. — Rogers Communications Inc. says it has passed a key milestone in satellite-to-mobile connectivity as the company pushes to bring the technology to the entire country next year. A test call on Sunday connected Newfoundland and Labrador Premier Andrew Furey with Mabel Tilley, a first responder with the Newfoundland and Labrador Search… Continue reading Rogers hails successful satellite-to-mobile phone call, with N.L. premier on one end
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Published by The Canadian Press | Updated Dec 14, 2023
European Central Bank keeps its key interest rate at a record high. Now, when will it cut?
Reading Time: 3 Min FRANKFURT, Germany (AP) — The European Central Bank kept its key interest rate at a record high Thursday and is now facing expectations it will start cutting borrowing costs next year to support the shrinking economy. It follows similar decisions this week by the U.S. Federal Reserve, Bank of England and Swiss National Bank to… Continue reading European Central Bank keeps its key interest rate at a record high. Now, when will it cut?
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Published by The Canadian Press | Updated Dec 14, 2023
US applications for jobless benefits fall again as labor market continues to thrive
Reading Time: 2 Min The number of Americans filing for jobless benefits fell last week as the labor market continues to thrive despite high interest rates and elevated costs. Applications for unemployment benefits fell by 19,000 to 202,000 for the week ending Dec. 9, the Labor Department reported Thursday. Analysts were expecting around 224,000. About 1.88 million people were… Continue reading US applications for jobless benefits fall again as labor market continues to thrive
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Published by The Canadian Press | Updated Dec 14, 2023
Retail sales up 0.3% in November as Americans hit gas rather than brakes on spending
Reading Time: 3 Min NEW YORK (AP) — Americans picked up their spending from October to November unexpectedly as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying. Retail sales rose 0.3%, in November from October, when sales were down a revised 0.2% according to the Commerce Department on Thursday. Sales were expected… Continue reading Retail sales up 0.3% in November as Americans hit gas rather than brakes on spending
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Published by The Canadian Press | Updated Dec 14, 2023
Depressed or anxious about finances amid inflation and rising rates? You're not alone
Reading Time: 3 Min As rent, mortgage payments, grocery bills and the cost of just about everything else rises, more and more Canadians are feeling the weight — not just on their budgets, but also on their mental well-being. Canadians are grappling with what a November report from MNP Ltd. called “inflation isolation”: loneliness brought on when avoiding the… Continue reading Depressed or anxious about finances amid inflation and rising rates? You’re not alone
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Published by The Canadian Press | Updated Dec 14, 2023
Canadian home sales down in November, average price up from year ago: CREA
Reading Time: < 1 minute OTTAWA — The Canadian Real Estate Association says home sales fell in November as the average price of a home sold inched higher compared with a year ago. The association says November home sales fell 0.9 per cent compared with the same month last year. On a seasonally adjusted basis, November home sales were also… Continue reading Canadian home sales down in November, average price up from year ago: CREA
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Published by The Canadian Press | Updated Dec 08, 2023
Stock market today: Wall Street slips after the US job market shows less cooling than expected
Reading Time: 3 Min NEW YORK (AP) — Wall Street is slipping in early trading as it weighs how to read a report showing the job market isn’t slowing as much as expected. The S&P 500 was 0.1% lower Friday and on track for its first losing week in the last six. The Dow was off 0.1%, and the… Continue reading Stock market today: Wall Street slips after the US job market shows less cooling than expected
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Published by The Canadian Press | Updated Dec 08, 2023
Canada Bread denies price-fixing scheme in court filing, points finger at Maple Leaf
Reading Time: 4 Min The bread supplier that admitted to price-fixing earlier this year says in new court filings that any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods. In a statement of defence for a class-action lawsuit alleging a bread price-fixing scheme, Canada Bread Co. Ltd.… Continue reading Canada Bread denies price-fixing scheme in court filing, points finger at Maple Leaf
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Published by The Canadian Press | Updated Dec 08, 2023
Telus urges support for broadcast distributors as CRTC hearing set to wrap up
Reading Time: < 1 minute GATINEAU, Que. — Telus Corp. says that in a “dramatically” changing broadcasting landscape, the CRTC should make changes to the regulatory framework to account for subscribers and revenues shifting from the traditional system to foreign streaming services. The company’s comments to the commission came Thursday, which marked the penultimate day of the CRTC’s three-week hearing… Continue reading Telus urges support for broadcast distributors as CRTC hearing set to wrap up
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Published by The Canadian Press | Updated Dec 07, 2023
Surge in newcomers putting pressure on inflation via housing demand: BoC deputy
Reading Time: 2 Min OTTAWA — The recent surge in newcomers is adding to inflation through housing demand, a senior Bank of Canada official said Thursday, warning rents and home prices could continue to rise without boosting housing supply. In a speech in Windsor, Ont., deputy governor Toni Gravelle acknowledged many of the benefits coming from this rise in… Continue reading Surge in newcomers putting pressure on inflation via housing demand: BoC deputy
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Published by The Canadian Press | Updated Dec 07, 2023
California's nonpartisan legislative analyst says state faces record $68 billion budget deficit
Reading Time: 2 Min SACRAMENTO, Calif. (AP) — California is facing a $68 billion budget deficit, the nonpartisan Legislative Analyst’s Office said Thursday. Most of the deficit comes from lower than expected tax revenues this year, the office said. California delayed its tax filing deadline to November this year because a series of damaging storms. That forced Democratic Gov.… Continue reading California’s nonpartisan legislative analyst says state faces record $68 billion budget deficit
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Published by The Canadian Press | Updated Dec 07, 2023
Roughly half of first-time buyers likely to use first home savings account: BMO poll
Reading Time: < 1 minute TORONTO — A new survey suggests a little more than half of potential first-time homebuyers are interested in using a first home savings account, even though they don’t know much about it.  The BMO survey shows 52 per cent of respondents looking to buy a property are likely to use their first home savings account… Continue reading Roughly half of first-time buyers likely to use first home savings account: BMO poll
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Published by The Canadian Press | Updated Dec 07, 2023
Federal, Quebec ministers say major grocers need to sign code of conduct
Reading Time: 2 Min The federal and Quebec agriculture and food ministers are calling on all members of the grocery industry supply chain to sign onto a code of conduct. Federal Minister Lawrence MacAulay and Quebec Minister André Lamontagne said they’re disappointed to see the grocery code of conduct has still not been launched after years of work. They’re… Continue reading Federal, Quebec ministers say major grocers need to sign code of conduct
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Published by The Canadian Press | Updated Dec 07, 2023
Filings for jobless claims tick up modestly, continuing claims fall
Reading Time: 2 Min U.S. applications for jobless benefits ticked up last week, but the overall number of people in the U.S. collecting unemployment benefits fell after hitting its highest level in two years last week. Unemployment benefits claims rose by 1,000 to 220,000 for the week ending Dec. 2, the Labor Department reported Thursday. That was in line… Continue reading Filings for jobless claims tick up modestly, continuing claims fall
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Published by The Canadian Press | Updated Dec 07, 2023
Intact subsidiary RSA selling U.K. home and pet insurance business
Reading Time: < 1 minute TORONTO — Insurance company Intact Financial Corp. says its Royal & Sun Alliance Insurance Ltd. subsidiary has signed a deal to sell its U.K. home and pet insurance business to Admiral Group. The company says the sale includes an initial cash payment of 82.5 million pounds, with a potential additional payment of up to 32.5… Continue reading Intact subsidiary RSA selling U.K. home and pet insurance business
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Published by The Canadian Press | Updated Dec 07, 2023
Holiday budget planning should include more than gifts you're planning on giving
Reading Time: 3 Min OTTAWA — A holiday spending plan is always a good idea, but as inflation pushes the cost of everything up and higher interest rates squeeze households, a budget is more important than ever. Anne Arbour of the Credit Counselling Society says in a perfect world you would have started planning your holiday budgeting months ago,… Continue reading Holiday budget planning should include more than gifts you’re planning on giving
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Published by The Canadian Press | Updated Dec 07, 2023
Laurentian Bank reports $30.6M Q4 profit, down from $55.7M a year ago
Reading Time: < 1 minute MONTREAL — Laurentian Bank of Canada reported its fourth-quarter profit fell compared with a year ago as it was hit by restructuring and other costs related to its strategic review and a major computer outage in September. The Montreal-based bank says it earned $30.6 million or 67 cents per diluted share for the quarter ended… Continue reading Laurentian Bank reports $30.6M Q4 profit, down from $55.7M a year ago
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Published by The Canadian Press | Updated Dec 07, 2023
2024 to bring slower food inflation as prices continue to moderate: report
Reading Time: 3 Min Food prices will keep rising in 2024, though at a slower pace, according to the latest Food Price Report. The 14th annual report by Dalhousie University, the University of British Columbia, the University of Guelph and the University of Saskatchewan predicted that food prices will rise between 2.5 per cent and 4.5 per cent next… Continue reading 2024 to bring slower food inflation as prices continue to moderate: report
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Published by The Canadian Press | Updated Dec 07, 2023
Ottawa gives Newfoundland and Labrador more control over offshore wind power projects
Reading Time: < 1 minute OTTAWA — Canada and Newfoundland and Labrador signed an agreement today giving the eastern province full regulatory control over renewable energy projects in its inland bays. Federal Natural Resources Minister Jonathan Wilkinson says the deal will allow the province to regulate wind projects in those areas as if they were onshore developments. He says the… Continue reading Ottawa gives Newfoundland and Labrador more control over offshore wind power projects
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Published by The Canadian Press | Updated Dec 06, 2023
Roots reports Q3 sales and profit down from year ago as it faces economic headwinds
Reading Time: 2 Min TORONTO — The chief executive of Roots Corp. says the retailer has a “cautious outlook” these days because some shoppers are delaying holiday purchases as they become more price sensitive.  “Discounts obviously are driving consumer purchasing behaviour, (but) there is a longer time now between Black Friday and the holiday period, so I do think… Continue reading Roots reports Q3 sales and profit down from year ago as it faces economic headwinds
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Published by The Canadian Press | Updated Dec 06, 2023
Statistics Canada reports $3B merchandise trade surplus for October
Reading Time: < 1 minute OTTAWA — Statistics Canada says the country’s merchandise trade surplus grew to $3.0 billion in October as imports fell and exports edged higher. The agency says the result compared with a revised surplus of $1.1 billion in September.  The October figures showed imports fell 2.8 per cent for the month to $63.0 billion for the… Continue reading Statistics Canada reports $3B merchandise trade surplus for October
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Published by The Canadian Press | Updated Dec 06, 2023
QPAREB says Montreal home sales in November edged down from year ago
Reading Time: < 1 minute MONTREAL — The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales in November edged down one per cent compared with the same month last year. The association says home sales in the region totalled 2,664, down from 2,700 in November 2022. Single-family home sales totalled 1,329, down from 1,451 a year earlier,… Continue reading QPAREB says Montreal home sales in November edged down from year ago
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Published by The Canadian Press | Updated Dec 06, 2023
Workers raise the bar: 2023 was a year of wage gains marked by high-profile strikes
Reading Time: 4 Min A month after 3,700 grocery store workers walked off their jobs at Toronto-area Metro stores earlier this year, they returned to work under a new contract that Unifor called “historic.”  Long days of picketing, including demonstrations at warehouses that halted deliveries to Metro stores across the province, led to a deal giving all workers an… Continue reading Workers raise the bar: 2023 was a year of wage gains marked by high-profile strikes
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Published by The Canadian Press | Updated Dec 06, 2023
Actors vote to approve deal that ended strike, bringing relief to union leaders and Hollywood
Reading Time: 3 Min LOS ANGELES (AP) — Hollywood’s actors have voted to ratify the deal with studios that ended their strike after nearly four months, leaders announced Tuesday. The approval of the three-year contract from the members of the Screen Actors Guild-American Federation of Television and Radio Artists was no certainty, with some prominent members voicing dissent on… Continue reading Actors vote to approve deal that ended strike, bringing relief to union leaders and Hollywood
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Published by The Canadian Press | Updated Dec 05, 2023
B.C. says 578 foreign-educated nurses registered in 2023, doubling intake
Reading Time: < 1 minute VANCOUVER — The number of foreign-educated nurses newly registered in British Columbia this year has more than doubled from last year, as the province makes progress on a $1-billion, multi-year plan to attract more health-care workers. The first yearly update on B.C.’s health human resources strategy says 578 internationally educated nurses became fully registered in… Continue reading B.C. says 578 foreign-educated nurses registered in 2023, doubling intake
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Published by The Canadian Press | Updated Dec 05, 2023
Brookfield significantly under-reporting emissions: advocacy group report
Reading Time: 2 Min TORONTO — Advocacy groups say Brookfield Corp. is substantially under-reporting its carbon emissions, even as the firm’s head of transition investing Mark Carney emphasizes the importance of increased disclosures The report by the group Investors for Paris Compliance, citing data from Private Equity Climate Risks, says the investments of Canada’s largest private equity investor emit… Continue reading Brookfield significantly under-reporting emissions: advocacy group report
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Published by The Canadian Press | Updated Dec 05, 2023
Beware of debt relief scams that offer 'pie-in-the-sky promises'
Reading Time: 4 Min TORONTO — For anyone facing spiralling debt and a falling credit rating, a debt relief consultant’s picture-perfect solution could bring a glimmer of hope. But experts say if their promises seem too good to be true, they probably are. “Anyone who makes a promise that they can eliminate your debt or boost your credit score… Continue reading Beware of debt relief scams that offer ‘pie-in-the-sky promises’
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Published by The Canadian Press | Updated Dec 05, 2023
As news is still shared on Facebook, Instagram, Meta may yet be regulated: St-Onge
Reading Time: < 1 minute OTTAWA — Heritage Minister Pascale St-Onge says Canada’s broadcasting regulator should look into regulating Meta when the Online News Act comes into effect, as users find loopholes to share news on its platforms. Meta began blocking news on Facebook and Instagram when Parliament passed the law this summer, arguing that will put it in compliance… Continue reading As news is still shared on Facebook, Instagram, Meta may yet be regulated: St-Onge
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Published by The Canadian Press | Updated Dec 05, 2023
Liberals voice support for CBC after announcing layoffs, Tait won't rule out bonuses
Reading Time: 2 Min OTTAWA — The federal Liberals are voicing their support for the public broadcaster after it announced layoffs on Monday, but Finance Minister Chrystia Freeland won’t weigh in on whether Ottawa will exempt it from across-the-board budget cuts. Freeland told reporters on Tuesday morning that the CBC and Radio-Canada cuts were “very sad news.” But when… Continue reading Liberals voice support for CBC after announcing layoffs, Tait won’t rule out bonuses
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Published by The Canadian Press | Updated Dec 05, 2023
Weak economy looms over holiday shopping season as consumers seek value: retailers
Reading Time: 3 Min TORONTO — Santa is hearing Christmas wishes from children at malls adorned in holiday regalia, stores are teeming with eggnog and gingerbread treats and a barrage of marketing campaigns are promising the perfect gift is just one credit card swipe away. But among the usual trappings that come with the holidays are new factors that… Continue reading Weak economy looms over holiday shopping season as consumers seek value: retailers
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Published by The Canadian Press | Updated Dec 05, 2023
App company Amp Me to pay fine in settlement agreement with Competition Bureau
Reading Time: < 1 minute GATINEAU, Que. — The Competition Bureau says Amp Me Inc. has agreed to pay a fine to settle the regulator’s concerns about false or misleading claims by the mobile application and the purchase of positive reviews. Amp Me offers a mobile application in Canada and the U.S. that synchronizes multiple devices to amplify the sound… Continue reading App company Amp Me to pay fine in settlement agreement with Competition Bureau
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Published by The Canadian Press | Updated Dec 05, 2023
Financial intelligence agency hands down $7.4M penalty to Royal Bank of Canada
Reading Time: < 1 minute OTTAWA — Canada’s financial intelligence agency has levied a $7.4-million penalty against the Royal Bank of Canada for non-compliance with anti-money laundering and terrorist financing measures. The Financial Transactions and Reports Analysis Centre of Canada says the violations include failing to submit suspicious transaction reports where there were reasonable grounds to suspect ties to a… Continue reading Financial intelligence agency hands down $7.4M penalty to Royal Bank of Canada
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Published by The Canadian Press | Updated Dec 05, 2023
US job openings fall to lowest level since March 2021 as labor market cools
Reading Time: 2 Min WASHINGTON (AP) — U.S. employers posted 8.7 million job openings in October, the fewest since March 2021, in a sign that hiring is cooling in the face of higher interest rates yet remains at a still-healthy pace. The Labor Department said Tuesday that openings were down significantly from 9.4 million in September. U.S. hiring is… Continue reading US job openings fall to lowest level since March 2021 as labor market cools
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Published by The Canadian Press | Updated Dec 05, 2023
Scrapyard that caught fire should not be located in centre of Saint John, says panel
Reading Time: < 1 minute FREDERICTON — A panel investigating a major scrapyard fire in Saint John, N.B., says the site is at significant risk of future, potentially catastrophic, explosions. The panel was established with representatives from Port Saint John and the provincial government to investigate the Sept. 14 fire at the American Iron & Metal plant, located by the… Continue reading Scrapyard that caught fire should not be located in centre of Saint John, says panel
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Published by The Canadian Press | Updated Dec 05, 2023
Energy infrastructure firm AltaGas raising quarterly dividend for 2024
Reading Time: < 1 minute CALGARY — AltaGas Ltd. is raising its dividend as it says it expects its earnings to grow next year, helped by its core operations. The energy infrastructure company says it will pay a quarterly dividend of 29.75 cents per share starting with its March payment to shareholders, up from 28 cents per share. In its… Continue reading Energy infrastructure firm AltaGas raising quarterly dividend for 2024
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Published by The Canadian Press | Updated Dec 05, 2023
Greater Toronto home sales fall amid affordability challenges but relief forecasted
Reading Time: < 1 minute TORONTO — Greater Toronto home sales fell six per cent last month compared with November 2022 despite an influx in new listings, as high borrowing costs and uncertain economic conditions persisted. The Toronto Regional Real Estate Board says last month’s 4,236 home sales were also down 8.7 per cent from the 4,640 sales in October.… Continue reading Greater Toronto home sales fall amid affordability challenges but relief forecasted
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Published by The Canadian Press | Updated Dec 05, 2023
Quebec pork farmers reeling as a 'perfect storm' creates economic crisis
Reading Time: 4 Min ST-SEBASTIEN, QUE. — Over the last two years, François Nadeau has chosen to do something rare among his fellow Quebec pork farmers: invest in the future. Despite economic conditions that industry leaders have called a crisis, Nadeau and his wife and co-owner of their business, Julie Bogemans, went ahead with a new building to house… Continue reading Quebec pork farmers reeling as a ‘perfect storm’ creates economic crisis
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Published by The Canadian Press | Updated Dec 05, 2023
These companies have laid off Canadian workers in 2023
Reading Time: 5 Min A wave of layoffs last year, which left thousands of Canadian workers jobless, is continuing this year as recession predictions loom and the tech sector downturn deepens. These are some of the companies which have said goodbye to Canadian workers so far in 2023. AbCellera Biologics Inc.: The Vancouver-based company that helped develop the first… Continue reading These companies have laid off Canadian workers in 2023
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Published by The Canadian Press | Updated Dec 05, 2023
Canada Life signs residential mortgage partnership with Nesto
Reading Time: < 1 minute WINNIPEG — Canada Life has signed a partnership deal with online mortgage company Nesto that will see the company take over the service and administration of the insurer’s residential mortgage customers starting in January. In addition to servicing the existing mortgages, Nesto will also be responsible for the Canada Life mortgages at maturity. The partnership… Continue reading Canada Life signs residential mortgage partnership with Nesto
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Published by The Canadian Press | Updated Dec 04, 2023
Unity Acquisitions snaps up much of toy store Mastermind, 18 stores to close
Reading Time: < 1 minute TORONTO — Mastermind GP Inc. says it has reached a deal to sell the bulk of its business to Unity Acquisitions Inc. Financial terms of the asset purchase agreement signed by the Toronto toy retailer and Unity owners Joe Mimran, Frank Rocchetti and David Lui were not disclosed. The deal includes the majority of Mastermind… Continue reading Unity Acquisitions snaps up much of toy store Mastermind, 18 stores to close
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Published by The Canadian Press | Updated Dec 04, 2023
November new car sales see biggest monthly gain so far this year: DesRosiers
Reading Time: < 1 minute TORONTO — DesRosiers Automotive Consultants Inc. says new car sales in November soared 20.7 per cent compared with last year, as vehicle supply improves. Andrew King, managing partner at DesRosiers, says November saw the largest percentage gain in sales so far this year. The data shows car sales continued to defy affordability woes and high… Continue reading November new car sales see biggest monthly gain so far this year: DesRosiers
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Published by The Canadian Press | Updated Dec 04, 2023
Payment technology firm Nuvei signs partnership deal with Microsoft
Reading Time: < 1 minute MONTREAL — Payment technology company Nuvei Corp. has signed a partnership agreement with Microsoft Corp. Financial terms were not immediately available. Under the deal, Microsoft will start using Nuvei’s payments technology in the Middle East and the Africa. Nuvei says Microsoft will benefit from its knowledge of local markets to optimize its payments for recurring… Continue reading Payment technology firm Nuvei signs partnership deal with Microsoft
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Published by The Canadian Press | Updated Dec 04, 2023
Stock market today: Wall Street opens lower following its best month in more than a year
Reading Time: 3 Min NEW YORK (AP) — Stocks are opening slightly lower on Wall Street ahead of some key reports this week on the job market that might provide more insight into the Federal Reserve’s thinking about interest rates. The S&P 500 was off 0.6% Monday. The index is coming off its best month in more than a… Continue reading Stock market today: Wall Street opens lower following its best month in more than a year
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Published by The Canadian Press | Updated Dec 04, 2023
Short-term rentals have 'significantly impacted' housing affordability: Desjardins
Reading Time: < 1 minute TORONTO — A Desjardins report suggests short-term rentals likely contributed to the housing affordability crisis in Canada and around the world. The report says the proliferation of short-term rentals on platforms such as Airbnb and Vrbo has had a significant effect on the affordability and availability of homes by reducing the number of units available… Continue reading Short-term rentals have ‘significantly impacted’ housing affordability: Desjardins
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Published by The Canadian Press | Updated Dec 04, 2023
Brookfield-led bid for Origin Energy fails to win required shareholder support
Reading Time: < 1 minute TORONTO — Brookfield Asset Management Ltd. says its deal for Australia’s Origin Energy Ltd. has failed to achieve the required shareholder support. The Canadian company says the offer it made with a consortium of investors and EIG garnered 69 per cent of the votes cast by Origin shareholders, falling short of the 75 per cent… Continue reading Brookfield-led bid for Origin Energy fails to win required shareholder support
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Published by The Canadian Press | Updated Dec 04, 2023
Spotify axes 17% of workforce in third round of layoffs this year
Reading Time: < 1 minute LONDON (AP) — Spotify says it’s axing 17% of its global workforce, the music streaming service’s third round of layoffs this year as it moves to slash costs while focusing on becoming profitable. In a message to employees posted on the company’s blog Monday, CEO Daniel Ek said the jobs were being cut as part… Continue reading Spotify axes 17% of workforce in third round of layoffs this year
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Published by The Canadian Press | Updated Dec 04, 2023
Russel Metals buying seven service centres from Samuel, Son & Co. Ltd. for $225M
Reading Time: < 1 minute TORONTO — `Russel Metals Inc. has signed a deal to buy seven service centre locations from Samuel, Son & Co. Ltd. for about $225 million. The agreement covers five locations in Western Canada and two in the United States. Russel Metals chief executive John Reid says the acquisition is complementary from both geographic and product… Continue reading Russel Metals buying seven service centres from Samuel, Son & Co. Ltd. for $225M
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Published by The Canadian Press | Updated Dec 04, 2023
Canada's telecom sector awaiting key regulatory decisions after transformative year
Reading Time: 4 Min Canada’s telecom sector faced a significant shakeup in 2023 after Industry Minister François-Philippe Champagne handed down a mandate requiring the CRTC to prioritize consumer rights, affordability, competition and universal access. The directive, which rescinded a 2006 policy direction for the agency to rely on market forces when making decisions, has since guided the direction of… Continue reading Canada’s telecom sector awaiting key regulatory decisions after transformative year
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Published by The Canadian Press | Updated Dec 03, 2023
Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal with debt
Reading Time: < 1 minute SEATTLE (AP) — Alaska Air Group said Sunday it agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt. The combined company would keep both airlines’ brands, which call the 49th and 50th states their homes. Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed Friday at $4.86.… Continue reading Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal with debt
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Published by The Canadian Press | Updated Dec 03, 2023
Five things to watch for in the Canadian business world in the coming week
Reading Time: < 1 minute TORONTO — Five things to watch for in the Canadian business world in the coming week: Home sales Home sales numbers for Canada’s biggest, and most expensive, cities are expected to come this week. The Real Estate Board of Greater Vancouver is expect to release its November sales figures on Monday, while Toronto Regional Real… Continue reading Five things to watch for in the Canadian business world in the coming week
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Published by The Canadian Press | Updated Dec 02, 2023
Canadian mining company starts arbitration in case of closed copper mine in Panama
Reading Time: 2 Min PANAMA CITY (AP) — Canada’s First Quantum Minerals Ltd. announced Friday it has requested arbitration proceedings to fight a Panamanian decision to halt a major open-pit copper mine concession in Panama or obtain damages. First Quantum said one arbitration was requested under the Canada-Panama Free Trade Agreement. It has also started proceedings before the International… Continue reading Canadian mining company starts arbitration in case of closed copper mine in Panama
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Published by The Canadian Press | Updated Dec 02, 2023
Most actively traded companies on the Toronto Stock Exchange
Reading Time: 2 Min TORONTO — Some of the most active companies traded Fridayon the Toronto Stock Exchange: Toronto Stock Exchange (20,452.87, up 216.58 points): Suncor Energy Inc. (TSX:SU). Energy. Down 21 cents, or 0.47 per cent, to $44.53 on 19.2 million shares. Canopy Growth Corp. (TSX:WEED). Health care. Up eight cents, or 10.67 per cent, to 83 cents… Continue reading Most actively traded companies on the Toronto Stock Exchange
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Published by The Canadian Press | Updated Dec 01, 2023
Applications for jobless benefits up modestly, but continuing claims reach highest level in 2 years
Reading Time: 2 Min Slightly more Americans filed for jobless claims last week, but the overall number of people in the U.S. collecting unemployment benefits rose to its highest level in two years. Applications for unemployment benefits rose by 7,000 to 218,000 for the week ending Nov. 25, the Labor Department reported Thursday. However, 1.93 million people were collecting… Continue reading Applications for jobless benefits up modestly, but continuing claims reach highest level in 2 years
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Published by The Canadian Press | Updated Dec 01, 2023
Here's a quick glance at unemployment rates for November, by province
Reading Time: < 1 minute OTTAWA — Canada’s national unemployment rate was 5.8 per cent in November. Here are the jobless rates last month by province (numbers from the previous month in brackets): _ Newfoundland and Labrador 10.0 per cent (10.0) _ Prince Edward Island 8.1 per cent (6.2) _ Nova Scotia 6.8 per cent (6.6) _ New Brunswick 6.4… Continue reading Here’s a quick glance at unemployment rates for November, by province
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Published by The Canadian Press | Updated Dec 01, 2023
Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls
Reading Time: 2 Min CALGARY — The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued Thursday, the regulator approved an initial tolling structure that will allow Trans Mountain Corp. to… Continue reading Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls
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Published by The Canadian Press | Updated Dec 01, 2023
Federal judge blocks Montana's first-in-the-nation ban on TikTok, says it's unconstitutional
Reading Time: 3 Min HELENA, Mont. (AP) — Montana’s first-in-the-nation law banning the video-sharing app TikTok in the state has been blocked while a legal challenge to the law moves through the courts, a federal judge ruled Thursday. U.S. District Judge Donald Molloy said the ban “oversteps state power and infringes on the Constitutional right of users and businesses.”… Continue reading Federal judge blocks Montana’s first-in-the-nation ban on TikTok, says it’s unconstitutional
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Published by The Canadian Press | Updated Dec 01, 2023
Here's a quick glance at unemployment rates for November, by Canadian city
Reading Time: 2 Min OTTAWA — The national unemployment rate was 5.8 per cent in November. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the… Continue reading Here’s a quick glance at unemployment rates for November, by Canadian city
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Published by The Canadian Press | Updated Dec 01, 2023
The hidden environmental cost of your overflowing email inbox
Reading Time: 3 Min When consumers think about ways to reduce their carbon footprint, lowering their car usage, eating fewer animal products and reducing their waste likely come to mind.  But there’s another, perhaps easier, way to cut your emissions: delete old emails.  Your overflowing email inbox is a lesser-known climate villain, consuming energy and collectively producing hundreds of… Continue reading The hidden environmental cost of your overflowing email inbox
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Published by The Canadian Press | Updated Dec 01, 2023
Walmart Canada investing $1 billion in modernization, 'store of the future'
Reading Time: < 1 minute Walmart Canada says it will invest nearly $1 billion this fiscal year on a slew of projects meant to modernize the retail giant’s Canadian footprint. The spending will include more than $300 million for store remodels and renovations. Some of the chain’s stores will be altered to include larger produce areas with an expanded assortment… Continue reading Walmart Canada investing $1 billion in modernization, ‘store of the future’
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Published by The Canadian Press | Updated Dec 01, 2023
Stock market today: Wall Street drifts lower following its best month in more than a year
Reading Time: 3 Min NEW YORK (AP) — Stocks are opening slightly lower on Wall Street as the market comes off its best month in more than a year. The S&P 500 was off 0.2% in the early going Friday. If the losses hold, the benchmark index could break a four-week winning streak. The Dow Jones Industrial Average was… Continue reading Stock market today: Wall Street drifts lower following its best month in more than a year
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Published by The Canadian Press | Updated Dec 01, 2023
Spectrum auction wraps, bringing more than $2.1 billion
Reading Time: < 1 minute OTTAWA — The federal government has announced the results of its latest spectrum auction offering telecommunications companies the chance to purchase chunks of mid-band wireless spectrum touted for being able to carry a lot of data over long distances. Telus Communications Inc. was awarded the most licences in the provisional results, having secured 1,430 licences… Continue reading Spectrum auction wraps, bringing more than $2.1 billion
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Published by The Canadian Press | Updated Dec 01, 2023
BMO Financial Group reports Q4 profit down from year ago, raises dividend
Reading Time: 2 Min TORONTO — BMO Financial Group raised its dividend as it reported its fourth-quarter profit fell compared with a year ago. The bank said Friday it will now pay a quarterly dividend of $1.51 per share, up from $1.47 per share. The increased payment to shareholders came as BMO said its net income amounted to nearly… Continue reading BMO Financial Group reports Q4 profit down from year ago, raises dividend
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Published by The Canadian Press | Updated Dec 01, 2023
National Bank reports Q4 profit up from year ago, raises quarterly dividend
Reading Time: 2 Min MONTREAL — National Bank of Canada reported its fourth-quarter profit rose compared with a year ago and raised its dividend. The bank said Friday it will now make a quarterly payment to shareholders of $1.06 per share, up from $1.02. National Bank says it earned $768 million or $2.14 per diluted share for the quarter… Continue reading National Bank reports Q4 profit up from year ago, raises quarterly dividend
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Published by The Canadian Press | Updated Dec 01, 2023
Ontario real estate law update with open bidding option enters into force
Reading Time: 3 Min TORONTO — New rules for Ontario real estate are coming into force that are meant to provide more clarity and choice for buyers and sellers, though they don’t go as far as some had hoped. The rules, which took effect Friday, include the option for sellers to use an open bidding process, improvements to broker… Continue reading Ontario real estate law update with open bidding option enters into force
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Published by The Canadian Press | Updated Dec 01, 2023
Cyprus and Chevron reach a deal to develop an offshore natural gas field, ending years of delays
Reading Time: < 1 minute NICOSIA, Cyprus (AP) — The Cyprus government and U.S. energy company Chevron have reached a deal on how to develop the Aphrodite gas field, the first to be discovered under the seafloor off Cyprus, an official said Friday. The field is estimated to hold 4.2 trillion cubic feet of gas. The agreement is “mutually beneficial”… Continue reading Cyprus and Chevron reach a deal to develop an offshore natural gas field, ending years of delays
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Published by The Canadian Press | Updated Dec 01, 2023
Deals to sell BioSteel assets result in $30.4M in aggregate gross proceeds: Canopy
Reading Time: < 1 minute SMITHS FALLS, Ont. — Canopy Growth Corp. says the aggregate gross proceeds from selling off its sports drink business total $30.4 million. The Smiths Falls, Ont., cannabis company says the proceeds come from two agreements linked to BioSteel Sports Nutrition Inc. that have closed. The first deal involved the sale of BioSteel Canada to DC… Continue reading Deals to sell BioSteel assets result in $30.4M in aggregate gross proceeds: Canopy
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Published by The Canadian Press | Updated Dec 01, 2023
Calgary sees another home sales gain in November as prices jump nearly 11%
Reading Time: < 1 minute CALGARY — The Calgary Real Estate Board says the city saw 1,787 home sales in November, marking an 8.8 per cent increase compared with the same month last year as the ratio of sales to new listings remained high at 80 per cent. New listings rose nearly 40 per cent compared with last year, reaching… Continue reading Calgary sees another home sales gain in November as prices jump nearly 11%
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Published by The Canadian Press | Updated Dec 01, 2023
Some OPEC+ members will cut the oil that they send to the world to try to boost prices
Reading Time: 3 Min LONDON (AP) — The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. Lower oil prices have been a good thing for U.S. drivers, who… Continue reading Some OPEC+ members will cut the oil that they send to the world to try to boost prices
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Published by The Canadian Press | Updated Dec 01, 2023
First Quantum starts arbitration process to protect rights at Cobre Panama
Reading Time: < 1 minute TORONTO — First Quantum Minerals Ltd. says it has started arbitration proceedings to protect its rights at its Cobre Panama mine which has been the subject of environmental protests. The Canadian miner says its Minera Panamá SA subsidiary has started the action before the International Court of Arbitration to protect its rights under a concession… Continue reading First Quantum starts arbitration process to protect rights at Cobre Panama
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Published by The Canadian Press | Updated Dec 01, 2023
Statistics Canada to release November job report today
Reading Time: < 1 minute OTTAWA — Statistics Canada is set to release its November labour force survey this morning. The report will shed light on the unemployment rate last month, as well as whether the economy added or lost jobs. RBC says it expects employment rose by 15,000, while the unemployment rate ticked up to 5.8 per cent as… Continue reading Statistics Canada to release November job report today
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Published by The Canadian Press | Updated Dec 01, 2023
S&P/TSX composite up more than 100 points, U.S. stock markets mixed
Reading Time: < 1 minute TORONTO — Strength in base metal, energy and industrial stocks helped Canada’s main stock index rise more than 100 points in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 107.31 points at 20,343.60. In New York, the Dow Jones industrial average was up 67.85 points at 36,018.74. The S&P… Continue reading S&P/TSX composite up more than 100 points, U.S. stock markets mixed
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Published by The Canadian Press | Updated Dec 01, 2023
National employment numbers for November from Statistics Canada, at a glance
Reading Time: < 1 minute OTTAWA — A quick look at Canada’s November employment (numbers from the previous month in brackets): Unemployment rate: 5.8 per cent (5.7) Employment rate: 61.8 per cent (61.9) Participation rate: 65.6 per cent (65.6) Number unemployed: 1,240,400 (1,229,400) Number working: 20,312,500 (20,287,600) Youth (15-24 years) unemployment rate: 11.6 per cent (11.4) Men (25 plus) unemployment… Continue reading National employment numbers for November from Statistics Canada, at a glance
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Published by The Canadian Press | Updated Dec 01, 2023
Michigan regulators approve $500M pipeline tunnel project under channel linking 2 Great Lakes
Reading Time: 3 Min Michigan officials approved a $500 million plan Friday to encase in a protective tunnel a portion of an aging oil pipeline that runs beneath a channel connecting two Great Lakes, leaving just one more regulatory hurdle for the contentious project. The state’s three-person Public Service Commission approved the project in the Straits of Mackinac on… Continue reading Michigan regulators approve $500M pipeline tunnel project under channel linking 2 Great Lakes
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