Markets see gains after Trump says he won’t try to fire Fed chair – National
U.S. stocks rose Wednesday as a worldwide rally came back around to Wall Street after President Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his trade war. The S&P 500 climbed 1.7% and added to its big…
Canada, U.S. stock markets rally as economic uncertainty persists – National
U.S. stocks jumped in a widespread rally Tuesday, and other U.S. investments steadied a day after falling sharply on worries about President Donald Trump’s trade war and his attacks on the head of the Federal Reserve. The S&P 500 climbed 2.5%. The Dow Jones Industrial Average…
Trump’s attacks on U.S. Fed chair spark big drops on Wall Street – National
U.S. President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the independent central bank lower its key interest rate to boost the economy. Stock markets in the U.S. and Canada dropped as a…
UnitedHealth’s stock drops over 22% for worst day since 1998. Here’s why – National
Most U.S. stocks climbed Thursday, but the worst drop for UnitedHealth Group in a quarter of a century kept Wall Street in check. The S&P 500 edged up by just 0.1%, even though three of every four stocks climbed in…
Canadians are banking on tax refunds amid ‘staggering’ debt – National
As recession fears loom, a “staggering” number of Canadians say they are in financial debt and many are banking on their tax refunds to pay that down. In a recent poll by Toronto-based licensed insolvency trustee firm Remolino & Associates,…
U.S. egg prices surge to record highs despite Trump’s predictions – National
By Josh Funk The Associated Press Posted April 10, 2025 9:12 am Updated April 10, 2025 9:16 am 1 min read Descrease article font size Increase article font size In defiance of United States President Donald Trump’s predictions, U.S. egg…
Investor confidence in America may be fading as U.S. bonds sell-off – National
The upheaval in stocks has been grabbing all the headlines, but there is a bigger problem looming in another corner of the financial markets that rarely gets headline: investors are dumping U.S. government bonds. Normally, investors rush into Treasurys at…
Canada, U.S. markets close higher, capping ‘topsy-turvy’ tariff week – National
Canadian and U.S. stocks closed higher Friday, capping off a tumultuous week that saw nausea-inducing drops and intense spikes driven largely by tariff headlines out of the United States. “It’s been a topsy-turvy day, like every day,” said Allan Small,…
North American markets end in the red amid concerns of U.S.-China tariffs – National
U.S. stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy. The S&P 500 tumbled 3.5 per cent, slicing into Wednesday’s surge of 9.5…
Filing your taxes? You might run into this CRA website ‘issue’ – National
The tax deadline is just a few weeks away, and some Canadians who may have already filed with the Canada Revenue Agency are still wondering if their information went through. A technical issue with the agency’s website continues and is…
Stock markets rally after Trump announces tariff relief for most countries – National
U.S. stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would. The S&P 500…
Liberals favoured to best manage energy, resources, Ipsos poll says
With Canada’s future relationship with the United States dominating the federal election campaign so far, a new poll is shedding some light on which party Canadians think would be best to manage the country’s resources — one of the pillars…
Amid tariff volatility in markets, how we got here and how it hits you – National
The trade war brought on by U.S. President Donald Trump’s tariffs has sent a ripple effect across the globe, leading to economic volatility and a lot of red on markets. Within the past several months, and especially the last week,…
Trade war sends Wall Street, global markets into worst crisis since COVID – National
Wall Street’s worst crisis since COVID slammed into a higher gear Friday. The S&P 500 lost 6% after China matched President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession…
Trump tariff impacts ‘significantly larger than expected’: U.S. Fed chair – National
ARLINGTON, Va. (AP) — The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth for the U.S. economy, Federal Reserve Chair Jerome Powell said Friday. Powell said that the tariffs, and their likely impacts on the economy and inflation, are “significantly larger than…
Wall Street sees worst day since 2020 as markets reel from Trump’s tariffs – National
Wall Street shuddered, and a level of shock unseen since COVID’s outbreak tore through financial markets worldwide Thursday on worries about the damage U.S. President Donald Trump’s newest set of tariffs could do to economies across continents, including his own….
Penguins and polar bears outnumber people in some tariff-hit territories – National
Some of the world’s least inhabited islands and territories have been hit by U.S. President Donald Trump’s “reciprocal” tariffs on all foreign trading partners — and some appear to have more penguins and polar bears than trade agreements with the…
Trump’s reciprocal tariffs, from highest to lowest so far – National
U.S. President Donald Trump announced the range of reciprocal tariffs he is imposing against nearly 200 global trading partners, saying the U.S. has been “looted” and “pillaged” by other nations and needs to respond. The list of countries and territories,…
Hudson’s Bay to keep 6 stores open, begin liquidation of all other locations in days
After a week spent seeking a lifeline, an Ontario court has given Canada’s oldest company permission to start liquidating all but six of its stores on Monday. The Friday approval from Ontario Superior Court judge Peter Osborne allows the retailer…
Capital gains tax changes will not move forward, Carney confirms – National
By Craig Lord The Canadian Press Posted March 21, 2025 2:14 pm 1 min read Descrease article font size Increase article font size Days before he’s expected to call a federal election, Prime Minister Mark Carney is confirming he won’t…
Small business confidence hits record low amid US. tariffs: CFIB – National
By Staff The Canadian Press Posted March 20, 2025 8:28 am Updated March 20, 2025 8:32 am 1 min read Descrease article font size Increase article font size The Canadian Federation of Independent Business says small business confidence dropped to an all-time low in March as the trade war with the U.S. ramped up. The federation says its business barometer…
Have non-sufficient funds? Banks will soon only be able to charge $10 – National
By Staff The Canadian Press Posted March 19, 2025 10:10 am 1 min read Descrease article font size Increase article font size Ottawa is limiting the fees that banks can charge customers who don’t have enough in their accounts to…
U.S. Federal Reserve holds interest rate, sees slower economic growth ahead – National
The United States Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though it said the outlook is more uncertain. The Fed also now expects the economy to…
Have capital gains to report? CRA says don’t file tax returns just yet – National
The 2025 tax season is well underway, but the Canada Revenue Agency doesn’t want Canadians who earned capital gains last year to file their returns – just yet. The CRA said in a news release Tuesday that it’s still working…
Trump officials defend tariffs as market turmoil hits savings, retirements – National
Members of U.S. President Donald Trump’s administration are defending his growing trade war with Canada and the impact it’s having on markets and retirement savings, claiming any short-term pain will eventually lead to long-term “prosperity.” The U.S. stock market was…
U.S. stock sell-offs get worse amid Trump’s economic policy impact – National
The U.S. stock market’s sell-off cut deeper on Monday as Wall Street questioned how much pain President Donald Trump will let the economy endure through tariffs and other policies in order to get what he wants. Canadian markets also suffered Monday, with the TSX losing almost…
Trump says U.S. will target new tariffs on Canadian dairy, lumber in days – National
U.S. President Donald Trump said Friday he will soon bring in new tariffs on Canadian dairy and lumber that match the “tremendously high” duties he says Canada charges for shipping those products to the U.S. The new tariffs could start…
White House hosts crypto leaders as Trump moves to deregulate industry – National
U.S. President Donald Trump wooed the cryptocurrency industry’s elite at the White House on Friday, hosting a first-of-its-kind summit focused on his plans for a government-owned stockpile of digital assets. Trump welcomed a wide range of industry players including Zach Witkoff, one of the founders…
Hudson’s Bay seeks creditor protection, plans restructuring amid pressures – National
By Tara Deschamps The Canadian Press Posted March 7, 2025 7:10 pm 1 min read Descrease article font size Increase article font size Canada’s oldest retailer, Hudson’s Bay, says it has filed for creditor protection and intends to restructure the…
Did you know you can claim all of these medical expenses on your taxes? – National
Tax season is here and while you’re filling out your return for the Canadian Revenue Agency (CRA), keep in mind that medical expenses — from fertility treatments to ambulance rides — are deductions that could help save you money. These…
Worried about layoffs and retirement? Steps you can take during a trade war – National
As tariffs rise and trade tensions escalate, many Canadians may be nervous about how their finances, job security and retirement plans could be affected by economic uncertainty. From potential layoffs to rising consumer prices and volatile markets, the impact of…
‘Retaliatory pipelines’: Push to export crude away from U.S. intensifies amid tariffs
The push for Canada to send more of its oil and natural gas to markets outside of the United States intensified Tuesday as U.S. President Donald Trump pressed ahead with a 10 per cent levy on energy imports. “This crisis…
Trump tariffs spur big losses for S&P, Dow Jones as market worries grow
U.S. and Canadian stocks tumbled Monday and wiped out out even more of their gains since U.S. President Donald Trump’s election in November, after he said that tariffs announced earlier on Canada and Mexico would take effect within hours. The…
RRSP contribution deadline is on Monday. How much can you put in? – National
The deadline to contribute in a registered retirement savings plan is on Monday. Canadians have until March 3 to make any RRSP contributions count towards deductions for the 2024 tax year. Any money set aside in an RRSP after that…
What would it take for Canada to hit 2% defence spending NATO target? – National
For years, Canada has been under pressure from NATO allies to hit the military alliance’s target of spending at least two per cent of GDP on defence — something experts say cannot be done with the flick of a switch….
Tax season 2025: What Canadians need to know before filing – National
Canada’s tax season is now officially open – and there a few key changes that could affect Canadian pocketbooks. Starting Monday, Canadians can file their income tax and benefit returns online. “Considering all of the financial stress the Canadians are…
BMO’s first-quarter profit jumps as Scotiabank reports drop – National
Descrease article font size Increase article font size Canadian lender Bank of Montreal BMO.TO on Tuesday reported a jump in first-quarter profit driven by strength in its capital markets business. Adjusted earnings from BMO’s capital markets business jumped 45% to…
Trump says he wants Keystone XL Pipeline to be built
U.S. President Donald Trump said on Monday he wanted the Keystone XL Pipeline built and pledged easy regulatory approvals for the project, which was opposed for years by environmentalists before its permit was revoked by the Biden administration. The pipeline…
Canadian North airline to be purchased by Exchange Income Corp.
Exchange Income Corp. has entered into an agreement to buy Canadian North for $205 million. The northern airline provides passenger and cargo service to 24 remote Canadian Arctic communities in Nunavut and the Northwest Territories through Ottawa and Edmonton, as…
OAS and CPP payments to roll out Wednesday. How much will seniors get? – National
Canadian seniors are set to receive the latest pension payments from the federal government this week. The February payments for the old age security (OAS) pension and the Canada Pension Plan (CPP) retirement pension will roll out to eligible Canadians…
U.S. stocks plunge as Trump tariff fears spread among businesses, consumers – National
U.S. stocks fell sharply Friday after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the U.S. economy. The S&P 500 sank 1.7% for its worst day in two months. The Dow Jones…
Canadian Tire to sell Helly Hansen to U.S. clothing brand
By Tara Deschamps The Canadian Press Posted February 19, 2025 10:03 am 1 min read Descrease article font size Increase article font size Canadian Tire says it has signed an almost $1.3-billion deal to sell Helly Hansen to a U.S. owner…
Valentine’s chocolate gets pricier as cocoa costs skyrocket – National
St. Valentine chocolates always seek to show how deep your love is. This year, it might just also show how deep your pockets are. With the price of cocoa beans setting unprecedented records on the commodities market, it will certainly turn the gift of love into a bigger financial commitment than it…
Tariff threats are enough to chill Canada’s economy, central bank says – National
Canada doesn’t need to be hit by tariffs for the economy to be impacted — the mere threat of a trade war is enough, the Bank of Canada has warned. The Bank of Canada on Wednesday released the summary of…
U.S. consumer prices rose faster than expected in January – National
Descrease article font size Increase article font size U.S. consumer prices rose faster than expected in January in a sign progress on inflation may remain stalled, data showed on Wednesday, as Federal Reserve Chair Jerome Powell heads to the U.S. Congress for…
Should you speed up your car purchase as Trump imposes metal tariffs? – National
Amid U.S. President Donald Trump’s order to impose costly tariffs on steel and aluminum, some automotive experts are advising Canadians in the market for a new or used vehicle to accelerate their timelines to get ahead of possible price hikes….
TD Bank to exit US$15.4B stake of Charles Schwab as new CEO begins overhaul – National
Descrease article font size Increase article font size Toronto-Dominion Bank announced on Monday it will exit from the 10.1% stake it has in financial services firm Charles Schwab, as part of a strategic review undertaken by the Canadian lender following…
Restaurants Canada wants the tax ‘holiday’ made permanent as end nears – National
The national association representing Canada’s restaurants wants Ottawa’s GST/HST “holiday” made permanent amid early signs it’s helped some cash-strapped Canadians dine out more often. The Liberal government’s two-month tax break is entering its final week on Friday. It began on…
What are Canadians spending per date? Survey suggests love ain’t cheap – National
How many times have you left a date with that special tingly feeling in your gut? The one that screams out, “Hoo-boy, what a waste of money!” Well, new findings suggest you’re not alone in feeling the pinch when it…
Fixed mortgage rates see some easing amid Trump tariff threats. Here’s why – National
Canada’s mortgage market is reacting to fears this week that United States President Donald Trump’s threatened tariffs could deliver a sharp blow to the Canadian economy. Experts say that home buyers and owners with a mortgage up for renewal could…
Carney says Canada ‘must change’ major trade partners amid Trump threats – National
Liberal leadership contender Mark Carney wants Canada to look beyond the United States to bolster its roster of trade partners amid ongoing tariff threats from President Donald Trump. He also teased tax cuts for middle-class Canadians and accelerated plans to…
What is a trade war? A breakdown of tariffs and retaliation – National
As trade tensions rise between China and the United States, Canada is not out of the woods yet, leaving some to wonder if a trade war is inevitable. On Monday, the U.S. and Canada agreed to pause tariffs for 30…
Canada to divert aluminum to Europe in response to Trump tariffs – National
Descrease article font size Increase article font size The cost of aluminum for consumers in Europe buying on the physical market has dropped due to expectations that Canadian shipments under U.S. tariffs from Tuesday will be diverted, physical market traders said. U.S….
Walmart Canada’s $6.5B spending plan includes Ontario, Alberta supercentres
Descrease article font size Increase article font size Walmart Canada said on Thursday it is investing about C$6.5 billion ($4.51 billion) to build new stores and expand its supply chain, marking its biggest ever investment since opening its first store…
Trump says Canada can’t avoid Feb. 1 tariffs, floats 10% oil rate – National
U.S. President Donald Trump said there is nothing Canada can do “right now” to avoid new tariffs that will be imposed starting Saturday — including on oil — just hours before that deadline was set to kick in. Canada and…
Carney proposes alternative to ‘divisive’ carbon price. How would it work? – National
Liberal leadership contender Mark Carney is backing away from Prime Minister Justin Trudeau’s consumer carbon pricing regime but will keep industrial pricing in place. Carney said the country has become divided over the policy because Canadians have been fed “misinformation”…
CRA expands automatic tax filing for 2025 season. Who is eligible? – National
More than two million Canadians will be able to file their taxes automatically this year. The Canada Revenue Agency (CRA) said in a news release Thursday that it is opening up its SimpleFile by Phone service to more Canadians this…
Ottawa pushes back proposed capital gains tax changes to 2026 – National
The federal government is delaying plans to raise the inclusion rate on capital gains, offering a degree of clarity on the legislation stuck in limbo that was causing some confusion for the upcoming tax season. Finance Minister Dominic LeBlanc announced…
Coffee prices spike amid Trump tariff threats. Is your cup of joe at risk? – National
Surging prices for coffee on global markets are coinciding with a weak Canadian dollar, putting a “pinch” on cafés and retailers that could end up hiking the cost of your cup of joe. Adam Pesce, president of Ontario-based Reunion Coffee…
Nova Scotia says it’s making the ‘biggest increase’ to its minimum wage ever
Descrease article font size Increase article font size The Nova Scotia government says it’s making the “biggest increase” to the minimum wage in the province’s history this year. Labour minister Nolan Young made the declaration in a news release Wednesday,…
Egg prices soar in U.S. What’s keeping Canada’s prices stable? – National
Egg prices in the United States continue to crack under pressure while in Canada they remain relatively stable — and even late-night TV is taking notice. On The Late Show with Stephen Colbert Tuesday night, the host couldn’t resist a…
Bank of Canada cuts key rate 0.25% but warns of tariff uncertainty – National
The Bank of Canada delivered a sixth consecutive interest rate cut on Wednesday but slowed the pace of its easing cycle. The central bank also warned that Canada’s economy would be “tested” if the United States delivers on a threat…
Weak loonie, Trump tariff threats make ‘volatile situation’ for Metro: CEO
Metro is in “wait and see” mode ahead of potential tariffs from new U.S. President Donald Trump, and is keeping an eye on the weakening loonie at a time of year when Canada relies most on its southern neighbour for…
California considers letting victims of natural disasters sue oil companies
Oil and gas companies would be liable for damages caused by climate change-related disasters in California under legislation introduced Monday by two Democratic lawmakers. The proposal claims that the oil industry intentionally deceived the public about the risks of fossil…
Tariff uncertainty hangs over Bank of Canada’s 1st rate decision of 2025 – National
The Bank of Canada is being pulled in a few different directions ahead of its first interest rate decision of the year on Wednesday. On one hand, there are signs of trouble bubbling up in underlying inflation that could make…
Chinese AI startup DeepSeek sends shockwaves through Wall Street – National
Wall Street is tumbling Monday on fears that the market’s winners who have feasted on the artificial-intelligence frenzy are under threat from a competitor in China that can do similar things for much cheaper. The S&P 500 was down 1.6%…
What is a tariff? A guide to the hit on Canada if Trump pulls the trigger – National
United States President Donald Trump’s tariff threats are not going away. Before and after assuming office in his second term, Trump has threatened to levy blanket tariffs of 25 per cent on all goods entering the U.S. from Canada and…
Tide among household basics that could see price hikes due to U.S. tariffs – National
Descrease article font size Increase article font size U.S. consumer goods maker Procter & Gamble PG.N will again look to hike prices on its household basics such as Tide detergent if President Donald Trump imposes new tariffs that increase the…
Trump’s tariff threats to China could hit Canadian wallets. Here’s why – National
U.S. President Donald Trump’s threats to impose tariffs on imports from China could send shockwaves through global supply chains that experts warn could raise prices on everything from big-ticket household goods to dollar store purchases in Canada. Since Trump’s re-election in…
Inflation cooled to 1.8% in December as tax ‘holiday’ kicked off – National
Descrease article font size Increase article font size Inflation slowed further in December as Canadian consumers got a tax break from the federal government. Statistics Canada said Tuesday that the annual pace of inflation cooled to 1.8 per cent last…
Here are 4 ways your finances could change under Trump’s 2nd presidency – National
Canadians are watching their finances for any impacts as President Donald Trump takes back the reins of government in the United States. But one of the biggest economic threats of Trump’s second term — a pledge to impose blanket tariffs…
TD Bank speeds up CEO replacement, slashes 41 executive salaries – National
Descrease article font size Increase article font size TD Bank Group said on Friday CEO-designate Raymond Chun would be appointed to the role on Feb. 1, months earlier than initially planned, and slashed the salary of 41 executives, including its…
Poilievre pledges to reverse Liberals’ capital gains tax changes if elected – National
Conservative Leader Pierre Poilievre on Thursday promised to reverse the Liberal government’s controversial changes to capital gains taxes if he takes power in the next federal election. He made the pledge in Vancouver, where he spoke about the need to…
CRA simplifies sign-in process before 2025 tax season – National
Descrease article font size Increase article font size As the 2025 tax season approaches, the Canada Revenue Agency has refreshed its website to make it easier for Canadians to sign in to their online accounts. The CRA said in a…
How high will home prices get in 2025? Depends where you live – National
Some Canadian real estate watchers are expecting borrowing costs to hit their floor at the same time sellers flood the spring market with listings, unleashing a flood of activity in many housing markets across Canada in early 2025. That could…
Half of Canadians $200 or less away from not being able to pay bills: poll – National
The Bank of Canada’s rapid interest rate cuts have seemingly not helped Canadians feel much better about their financial pictures as MNP LTD reports a new low in its outlook on personal debt. The MNP Consumer Debt Index, a broad…
1st carbon rebates of 2025 set to roll out. What Canadians can expect – National
Millions of Canadians will receive the year’s first carbon rebates from the federal government this week. January payments of the Canada Carbon Rebate will go out on Wednesday to Canadians in eight provinces: Alberta, Manitoba, New Brunswick, Newfoundland and Labrador,…
Loblaw apologizes after underweighted meat sold in Western Canada stores – National
Loblaw is apologizing after the grocer confirmed some meat products sold in stores across Western Canada were underweighted compared with what was posted on the label, leading to some customers being overcharged. The grocer confirmed the discrepancies to Global News…
Bank of Canada rate cut in doubt after strong December jobs report – National
Signs of strength in Canada’s labour market to close out 2024 are fuelling doubts among some Canadian economists about whether the central bank will deliver another interest cut later this month. A jump in new jobs helped bring the Canadian…
Ottawa must axe capital gains changes amid uncertainty: Canadian chamber – National
The Canadian Chamber of Commerce is calling on the federal government to restore clarity to the upcoming tax filing season by pre-emptively nixing its proposed changes to capital gains taxes. Those measures, which would see the taxable portion of capital…
Canada Workers Benefit goes out Friday. How much will you get? – National
Some eligible working Canadians are set to receive advanced payments of workers benefits from the federal government this week. The Advanced Canada Workers Benefit (ACWB) will go out on Friday to individuals and families who earn a low income. The…
How to steer your finances around a weak loonie — or even get ahead – National
The loonie is struggling, putting a premium on anything Canadians buy that comes with a price tag in U.S. dollars. With the Canadian dollar languishing around 69.5 cents US — floating near four year lows compared to the American greenback…
How Trump’s tariff threats might impact the U.S. Fed’s interest rates – National
Descrease article font size Increase article font size A top policymaker at the U.S. Federal Reserve said Wednesday that he still supports cutting interest rates this year, despite elevated inflation and the prospect of widespread tariffs under the incoming Trump…
Prorogation throws capital gains tax changes in limbo – National
Justin Trudeau’s decision to step down and prorogue Parliament will keep his government from implementing its proposed changes to capital gains for now, but Canadians might not be off the hook with tax collectors just yet. The changes would raise…
Here’s how capital gains tax changes will work after Parliament prorogued – National
The federal government has provided clarity on how proposed changes to capital gains taxes will work after Prime Minister Justin Trudeau prorogued Parliament without passing legislation to put the new tax rules into law. But tax experts warn that until…
What Trudeau’s exit means for the struggling loonie — and Canada’s economy – National
News of Prime Minister Justin Trudeau’s impending resignation helped push the Canadian dollar higher on Monday morning in a move some experts say reflects higher confidence in Canada’s economy with new leadership on the way. The loonie, which had been…
Canadian stock market set to grow in 2025 amid lingering volatility: experts – National
The Canadian equity market will continue building on its strength from 2024 despite lingering political uncertainties, experts forecast. But investors should prepare for more volatility and be patient as the pace of gains is expected to be a bit slower….
Here’s how much Canada’s highest-paid CEOs earned in 2023 – National
Canada’s 100 highest-paid CEOs earned $13.2 million on average in 2023 from salaries, bonuses and other compensation, according to the Canadian Centre for Policy Alternatives. It was the third biggest year for CEO pay since the CCPA began tracking the…
Latest GST/HST credit payments to roll out. How much could Canadians get? – National
The first benefits of the new year will go out Friday, with eligible Canadians receiving goods and services tax (GST) or harmonized sales tax (HST) credits from the federal government. It’s the third quarterly payment of the 2023 base year…
Will it be easier or harder for Canadians to buy a home in 2025? – National
It’s been a rough few years for Canadians looking to break into home ownership as unaffordability issues persist across the country. But as the calendar turns over to 2025, some prospective buyers might find an opportunity through changes in mortgage…
Tax changes are coming in 2025. Here’s what Canadians need to know – National
As Canadians ring in the new year with cost of living top of mind, many would likely want to get ahead on their finances for 2025. There are several changes coming into effect as early as Jan. 1 that could affect…
Heading into election year, cost of living still dominates voter priorities – National
Canadians preparing to head to the polls in the new year are likely to be voting with their wallets. Cost-of-living issues continue to dominate the list of priorities for Canadians, according to the findings of new Ipsos polling conducted exclusively…
Weak loonie could have further to fall in 2025, economists warn – National
Experts say the next few months are going to be rough for the Canadian dollar as it appears set to continue its downward trend. “We do have more room to fall,” said Karl Schamotta, chief market strategist at Corpay. The…
National Bank gets final approval for Canadian Western Bank takeover
By Staff The Canadian Press Posted December 20, 2024 6:17 pm Updated December 20, 2024 6:22 pm 1 min read Descrease article font size Increase article font size National Bank of Canada’s $5-billion takeover of Canadian Western Bank has cleared…
Bank of England holds key rate as it warns of ‘heightened uncertainty’ – National
The U.K.’s central bank warned Thursday of “heightened uncertainty” as it kept interest rates on hold after inflation moved further above target, even at a time when the British economy is flatlining at best. The Bank of England’s nine-member Monetary…
A 30-year mortgage with no rate hikes: Can the U.S. model work in Canada? – National
Imagine it: You buy a house, and the bank offers you a single rate of interest that will keep your mortgage payments steady for the next 30 years. Pay it off early if you like, by the way: no big…
Canadians more cautious about holiday spending despite tax break: poll – National
This holiday season, Canadians are being more cautious about their spending despite a tax break on a slew of items, new polling shows. Nearly 40 per cent of Canadians said in an Ipsos poll conducted exclusively for Global News and…
Loonie falls further after U.S. Fed rate cut. Here’s what’s happening – National
The Canadian dollar’s slide continued Wednesday amid expectations for a slower pace of rate cuts from the U.S. Federal Reserve. The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but…
Loonie drops below 70 cents US as inflation cools in November – National
The annual rate of inflation slowed to 1.9 per cent in November, Statistics Canada said Tuesday. The agency cited a “broad-based” slowing in price hikes, particularly on travel tours and on mortgage costs, contributing to the cooling off. That’s down…
Ottawa moving ahead on automatic tax filing. Here’s what to know – National
The federal government is moving forward with plans to make automatic tax filing more widely available to Canadians, including those who are “middle class.” In the fall economic statement released on Monday, Ottawa announced several measures to make it easier…
Ottawa fiscal update mired in uncertainty amid tariff fears, Freeland exit – National
The Liberal government’s fall economic statement arrived in a cloud of controversy Monday after Chrystia Freeland’s abrupt resignation as the minister of finance. The fall fiscal update will largely see the federal government look inward for growth opportunities as the…
Insured mortgage cap hike a ‘game changer’ for some homebuyers – National
A barrier to entry in some of Canada’s most expensive housing markets just got lower thanks to new changes impacting the country’s mortgage landscape. The ability to put less money down on an insured mortgage for a home worth more…
Bank of Canada cuts rates by half a point but signals ‘more gradual’ pace – National
The Bank of Canada delivered a second consecutive interest rate cut of half a percentage point on Wednesday, but signalled the pace of easing may slow as uncertainty builds in the Canadian economy. The central bank’s policy rate now stands…
Ex-TD Bank worker in U.S. charged with alleged money laundering to Colombia – National
A former TD Bank employee in the U.S. is facing criminal charges for allegedly using their position at the financial institution to facilitate money laundering — the second time this year a former worker has been charged. The indictment announced…
Quebec court approves $2.5M settlement in Dollarama eco fees class action
Descrease article font size Increase article font size The Superior Court of Quebec has approved a $2.5-million settlement in a class action targeting Dollarama Inc.’s use of eco fees. Environmental handling fees, sometimes called eco fees, are charged by retailers…
Child benefit cheques delayed, but still coming, amid Canada Post strike – National
Parents expecting this month’s Canada Child Benefit (CCB) cheques will have to wait a little while longer because of the ongoing Canada Post strike. Under an agreement between Canada Post and the Canadian Union of Postal Workers (CUPW), some socio-economic…
‘Stubborn’ fixed mortgage rates might not fall despite Bank of Canada cut – National
The Bank of Canada’s latest oversized interest rate cut isn’t expected to deliver immediate relief to the Canadian fixed-mortgage market, experts warn. The central bank delivered a second consecutive half-point drop to its policy rate on Wednesday. After five straight…
City of Vancouver to probe investing in Bitcoin, accepting it as payment
Vancouver city council has voted to explore ways to make the municipality a “Bitcoin-friendly city.” The motion approved Wednesday won’t mean the city is investing or accepting payment in cryptocurrency any time soon, but will instead direct staff to look…
U.S. inflation ticks higher ahead of Fed’s interest rate decision – National
Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Consumer prices rose 2.7% in November from a year earlier, up…
Bank of Canada readies for a rate cut. Why the loonie is bracing for impact – National
With the Bank of Canada gearing up for its final interest rate decision of 2024, experts warn the flagging Canadian dollar could well have further to fall if the central bank delivers the sizeable cut that markets expect. The Bank…
Why fast food industry watchers expect big discounts in the first half of 2025 – National
It’s lunch time at the Eaton Centre mall in downtown Toronto and every corner of the food court is hungry for customers. Bourbon St. Grill is trying to lure them in with a pair of beef or chicken Jamaican patties…
‘Tax holiday’ could become a ‘hot mess’ for businesses, CFIB warns – National
A temporary “tax holiday” could prove to be a “hot mess” for small businesses preparing to implement the new measure this week, according to the Canadian Federation of Independent Business. The Liberal legislation is set to go into effect on…
Dollarama buys land for Calgary warehouse, targets 2,200 stores in Canada by 2034
Dollarama Inc. is ramping up its expansion with a Calgary-area distribution centre and a lot more of the chain’s stores headed for Canada over the next decade. The retailer announced Wednesday that it had spent $46.7 million to buy land…
Rate cut hopes could have ‘psychological’ impact on homebuyers in 2025 – National
Canadian real estate watchers are expecting home prices and housing activity to rise in 2025 after a “recovery year,” but the Bank of Canada’s policy rate will still have sway over how quickly buyers come back. Royal LePage released its…
Bitcoin tops $100K as Trump win sparks cryptocurrency’s surge – National
Bitcoin has topped the $100,000 mark as a massive rally in the world’s most popular cryptocurrency sparked by the election of Donald Trump rolls on. The milestone comes just hours after the President-elect signaled a lighter regulatory approach to the…
Food prices in Canada likely to increase by 3 to 5% next year: report – National
Food prices in Canada are likely to increase by three to five per cent next year, according to a newly released report, but wild cards like climate change and Donald Trump could have unforeseen impacts. That’s the conclusion of the…
Chrystia Freeland promises a fall fiscal update as clock ticks down on 2024 – National
Descrease article font size Increase article font size Finance Minister Chrystia Freeland says she will deliver a fall economic statement sometime this year as the clock ticks down on the remaining days in the House of Commons for 2024. Freeland,…
BMO changes rate cut call after surprise jump in Canada’s jobless rate – National
A surprise jump in the unemployment rate in November drove the loonie lower on Friday and raised odds among markets and some big banks for a second consecutive oversized interest rate cut from the Bank of Canada. Canadian employers collectively…
CRA confirms the TFSA contribution limit for 2025 – National
Descrease article font size Increase article font size Canadian savers now know how much extra room they’ll get in their tax-free savings accounts (TFSA) in the year to come. The TFSA is a savings vehicle that allows Canadians to make…
TD and BMO stumble while CIBC rises to cap big bank earnings season – National
TD Bank on Thursday warned of a challenging 2025 and suspended its medium-term earnings forecast as Canada’s second-biggest lender works through its anti-money laundering remediation program following a U.S. regulatory probe. Shares of TD, which faces an asset cap and…
Taylor Swift concert sponsorship helps RBC add 600K clients in Q4, CEO says – National
Royal Bank of Canada, the country’s biggest bank, beat quarterly profit expectations, helped by its acquisition of HSBC’s domestic business and strength at its wealth management arm, sending shares to a record high on Wednesday. CEO Dave McKay told analysts…
Cargill layoffs not expected to impact Canadian union jobs: UFCW
Cargill’s plans to slash thousands of jobs across its global workforce are not expected to impact front-line, unionized positions in Canada, according to the union representing the bulk of the food giant’s Canadian workers. Minnesota-based Cargill confirmed to Global News…
Food giant Cargill is slashing 5% of global workforce—around 8K jobs
Agricultural powerhouse Cargill, one of the world’s biggest privately held firms with thousands of Canadian employees, is slashing its global workforce as part of a major restructuring effort. Cargill is a major food processor, merchandiser and commodity trader with deep…
Scotiabank boosts Q4 profits with less money set aside for bad loans – National
Scotiabank says it expects to see continued loan pressure and political uncertainty in the months ahead as it reported profits that were up from a year ago but below analyst expectations. The bank kicked off a week of bank earnings…
Canada Post strike: U.S. Postal Service says it won’t send mail north of border – National
By Staff The Canadian Press Posted December 2, 2024 8:16 am 1 min read Descrease article font size Increase article font size The U.S. Postal Service has temporarily suspended accepting mail headed to Canada due to the strike by Canada…
Ottawa’s pandemic small business loan program lacked checks and balances: AG – National
By Anja Karadeglija The Canadian Press Posted December 2, 2024 2:43 pm Updated December 2, 2024 2:51 pm 1 min read Descrease article font size Increase article font size The auditor general says the small business loan program the federal…
Canada failed to diversify trade ahead of Trump tariff threats: experts – National
Canada failed to cultivate new trade corridors that could have helped to mitigate the potential impact of Donald Trump’s tariff threats ahead of his return to the White House, experts tell Global News. The U.S. president-elect lobbed the first salvo…
Tax ‘holiday’ may spur economic growth, but ‘dark cloud’ hangs over future – National
The Bank of Canada will have to grapple with an underperforming economy, signs of a returning consumer and a “dark cloud” hanging over the nation’s trade prospects as it gears up for its final interest rate decision of the year….
Macy’s says a single employee hid up to US$154M in delivery expenses – National
Macy’s on Monday delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses and instead posted preliminary results in which its sales missed Wall Street expectations. A single employee “intentionally made erroneous accounting accrual…
‘Tax holiday’ bill up for House of Commons vote. What to expect – National
Members of Parliament are set to vote on a Liberal bill proposing a temporary “tax holiday” for Canadians that is expected to pass with the support from the New Democratic Party. The legislation, which was tabled on Wednesday, calls for…
Shortage of cattle behind recent jump in beef prices, industry says
If you’re a fan of Canadian beef, you’ve probably noticed that juicy steak on your plate has forced you to dig deeper into your pocket to pay for these days. That’s because, according to industry insiders, the size of the…
Bank of Canada official warns it would be ‘painful’ to see big price drops – National
Bank of Canada deputy governor Rhys Mendes says allowing for a period of price declines may sound tempting, but it would ultimately be more painful for Canadians. Mendes made the comments in a speech Tuesday in Charlottetown on the importance…
How the Canada Post strike could affect your Black Friday shopping – National
A nationwide shutdown of Canada Post is set to have major implications for the biggest shopping weekend of the year, experts warn. Workers at the national postal service remain on strike for a second week, with the Crown corporation reporting…
Loonie’s plunge just one consequence of Trump tariff threat on your wallet – National
Descrease article font size Increase article font size The loonie is shaping up as an early casualty of U.S. president-elect Donald Trump’s latest trade threats against Canada, with knock-on impacts expected elsewhere in Canadian pocketbooks. The value of the Canadian…
‘Step up’: Freeland urges provinces to follow Ottawa on tax ‘holiday’ – National
The federal government is calling on the provinces to “step up” and drop their sales taxes on certain items in line with Ottawa’s proposed two-month relief period. But Finance Minister Chrystia Freeland won’t confirm whether Ottawa will compensate the provinces…
Montreal dockworkers, employer to start mediation after six-day work stoppage
By Staff The Canadian Press Posted November 25, 2024 11:10 am 1 min read Descrease article font size Increase article font size Dockworkers at the Port of Montreal say they are set to begin mediation with employers after a six-day…
Nations have agreed to $300B for climate funding. How will they pay for it? – National
The trillion-dollar question these days is where the huge sums of money needed to address climate change are going to come from, especially for developing countries. Getting governments to put up more was the big focus at the UN climate…
Why is inflation heating up at the grocery store again? Blame the loonie – National
A weak Canadian dollar is being blamed as a key culprit behind sticky inflation at the grocery store, a trend one expert says he expects to persist heading into the holidays. While overall inflation has moderated in recent months, settling…
Two Canadian food companies sued in U.S. over ‘potato cartel’ allegations – National
Two proposed class-action lawsuits in the United States name two Canadian food companies as alleged members of a “potato cartel” that’s accused of a years-long campaign of fixing prices on frozen products. The suits, which have yet to be certified,…
Will the Liberals’ ‘tax holiday’ pay political dividends? What it signals – National
The Liberal government announced a suite of affordability measures Thursday that Ottawa says aims to put more money in Canadian bank accounts, a move experts say is likely to boost Canada’s economy and could register with voters who are still…
‘GST holiday’ for all, $250 cheques for some: What Ottawa is promising
The federal government says Canadians will get a ‘GST holiday’ on groceries this holiday season, while those making under $150,000 annually will also be getting a cheque.
Metro marks end of ‘transition year’ with small profit dip
Grocery and drugstore retailer Metro Inc. ended its “transition year” with fourth-quarter earnings of $219.9 million, with an almost $1-billion supply chain transformation in the rearview mirror and plans to grow its store footprint in the coming year. “This transformation…
Rogers cuts a ‘few dozen’ audio jobs in tight advertising market – National
By Staff The Canadian Press Posted November 20, 2024 8:57 am 1 min read Descrease article font size Increase article font size Rogers Sports and Media has cut what it says are a “few dozen” jobs in its audio business….
Canadians will get child benefit cheques this week amid Canada Post strike – National
Editor’s note: This story has been updated after Canada Post informed Global News that staff at its retail locations had posted the wrong notice on their door regarding the benefits that will be delivered during the strike. The latest…
Walmart’s promise of low prices lured shoppers in 3rd quarter – National
Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could. The nation’s largest retailer raised its outlook for the year as…
Spirit Airlines files for bankruptcy amid financial woes – National
Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel, stiffer competition from bigger carriers, and a failed attempt to sell the airline…
Canada Post, union gear up for renewed bargaining with special mediator – National
Canada Post and the union representing striking postal workers will head back to the bargaining table on Monday, this time with a special mediator appointed by the federal government. Members of the Canadian Union of Postal Workers (CUPW) took to…
Class-action settlement over WestJet baggage fees now open for claims
By Staff The Canadian Press Posted November 17, 2024 10:31 am 1 min read Descrease article font size Increase article font size Some travellers who checked baggage on certain WestJet flights between 2014 and 2019 may now claim their share…
Canada Post strike: What’s at stake for the Canadian economy? – National
The Canada Post strike is set to have the sharpest impact on small businesses and customers of the postal service, particularly those living in remote and rural communities, according to experts who spoke to Global News. A lengthy labour disruption…
Montreal port operations to resume Saturday after government orders end to lockout
By Staff The Canadian Press Posted November 15, 2024 3:11 pm 1 min read Descrease article font size Increase article font size Management at the Port of Montreal says operations are set to resume Saturday after being disrupted by a labour dispute….
Carbon rebate for small businesses will be tax-free: Freeland – National
Descrease article font size Increase article font size Deputy Prime Minister and Finance Minister Chrystia Freeland says the Canada carbon rebate for small businesses will be tax-free. In a statement posted to X late Tuesday, Freeland clarified the parameters of…
T&T stores ‘outperform’ rest of Loblaw network amid growing population – National
Editor’s note: An earlier version of this story misattributed Per Bank’s nationality. He is Danish. Loblaw Co. Ltd. is benefitting from Canada’s rapid population growth, which in turn fuelling an expansion of multicultural products in its stores, the grocery giant’s…
U.S. inflation ticks back up as future path under Trump uncertain – National
Inflation in the United States ticked up in October, driven by costlier rents, used cars and airfares, a sign that price increases might be levelling off after having slowed in September to their lowest pace since 2021. Consumer prices rose…
Housing affordability still strained despite improvements in 2024: report – National
Stalled home values, rising incomes and falling mortgage rates continue to deliver improvements in housing affordability in Canada, according to a report released Wednesday. And yet, National Bank of Canada estimates show the median household would need to double their…
Montreal dockworkers union to challenge binding arbitration order in court
By Staff The Canadian Press Posted November 13, 2024 10:32 am 1 min read Descrease article font size Increase article font size The union representing Montreal dockworkers plans to challenge in court a decision by the federal labour minister to end…
Ottawa orders end to B.C., Montreal port shutdowns with binding arbitration
Descrease article font size Increase article font size The federal labour minister ordered an end to work stoppages at Canada’s largest ports in British Columbia and Quebec on Tuesday, imposing “final and binding arbitration” on the parties. Dock workers at…
First B.C., now Montreal: What a pair of port shutdowns means for Canada
Locked-out workers at ports in British Columbia were joined on the picket lines by their peers in Montreal on Sunday night, stymying trade at Canada’s two largest marine trading hubs heading into the busy holiday shopping season. While experts tell…
How Canadian consumers can spot counterfeit $2 coins
There are several ways Canadian consumers can spot fake toonies circulating across the country, coin experts say. The coins’ appearance, their weight, as well as die strike errors and even die misalignments can give them away as counterfeit $2 coins….
Bank of Canada official warns about dangers of ‘tinkering’ with mortgage rules – National
The Bank of Canada’s senior deputy governor is warning against adjusting mortgage rules to try to make the prospect of homeownership more affordable. Carolyn Rogers delivered a speech Wednesday on the mortgage market to the Economic Club of Canada in…
What Trump’s election could mean for Canadian rates and the loonie – National
Experts say Donald Trump’s election victory could shift interest rate policy in the U.S. as his promised policies risk higher inflation, which could ultimately have implications for Canadian rates and the loonie. Among those promises are large tariffs on imported…
TikTok’s closure in Canada raises worries for creators’ revenue, support – National
By Staff The Canadian Press Posted November 8, 2024 10:37 am Updated November 8, 2024 5:46 pm 1 min read Descrease article font size Increase article font size Canadian TikTok creators fear that the federal government’s decision to shut down the app’s…
Amid Trump trade worries, China tariffs give Canada ‘firm’ ground: Freeland – National
Chrystia Freeland says that a unified stance towards China will give Canada a “firm foundation” in upcoming trade negotiations with the United States and president-elect Donald Trump. Deputy Prime Minister and Finance Minister Freeland spoke to reporters Friday after the…
Canada’s unemployment rate holds steady at 6.5% in October – National
The national unemployment rate held firm in October amid modest job gains, Statistics Canada said Friday. Canada’s jobless rate was 6.5 per cent last month, the agency said, as employers added some 15,000 positions to their payrolls, largely concentrated in…
Ex-TD Bank anti-money laundering employee in U.S. faces criminal charge – National
A former American TD Bank employee who worked in the bank’s heavily scrutinized anti-money laundering department in the U.S. has been criminally indicted in New York, the Manhattan district attorney announced Thursday. Daria Sewell was charged with unlawful possession of…
U.S. Fed rate cut coming as economy gears up for 2nd Trump term – National
Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation pressures that exasperated many Americans and contributed to Donald Trump’s presidential election victory. Yet the…
Markets shoot higher after Trump win. Investors ask, can it last? – National
Stock markets were broadly rising higher Wednesday amid certainty over Donald Trump’s victory in the United States’ presidential election, though experts warned there’s no guarantee a “Trump bump” will last. U.S. stocks surged on the news Wednesday morning that Trump…
Trump win sends bitcoin price to record highs in crypto boom – National
The price of bitcoin hit a new high Wednesday as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies. Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and…
Bank of Canada worried jumbo rate cut would send sign of ‘economic trouble’ – National
The Bank of Canada’s top decision makers worried the central bank’s oversized interest rate cut in October could send a dour signal about the state of the Canadian economy, according to new documents released Tuesday. The Bank of Canada delivered…
With inflation cooling and wages growing, why are Canadians still feeling strained? – National
The federal finance minister has been taking every opportunity to remind frustrated Canadians that after a bumpy pandemic recovery, the nation’s economy is actually doing a lot better. Inflation is now at 1.6 per cent, below the Bank of Canada’s…
‘I’m pissed’: Alberta premier, oil and gas industry slam Ottawa’s new emissions cap
Alberta Premier Danielle Smith did not mince words over Ottawa’s new greenhouse gas emissions cap announced Monday. “I’m pissed — I’m absolutely angry,” Smith said at a news conference. “We’ve been working with these guys for two years because we…
BCE making major inroads into U.S. fibre networks with $5B acquisition – National
Descrease article font size Increase article font size Canadian telecom firm BCE said on Monday it would buy internet services provider Ziply Fiber for $5 billion in cash, as it looks to expand its fibre footprint in the United States….
Puppers Drug Mart? Why some argue pharmacies should hand out pet meds – National
Don’t be surprised if you’re stuck behind a chocolate lab, a Scottish fold and a guinea pig when you’re picking up cold medication at the pharmacy in the years ahead. A push from the Competition Bureau would see the distribution…
Canadians split on handing out Halloween candy this year: poll – National
By Rianna Lim The Canadian Press Posted October 30, 2024 7:29 am Updated October 30, 2024 12:14 pm 1 min read Descrease article font size Increase article font size A new poll suggests more than a quarter of Canadians will…
Air Canada sees more profit coming from international demand, cheaper jet fuel – National
Descrease article font size Increase article font size Air Canada raised its annual core profit forecast on Friday, as the country’s largest carrier benefits from strong demand for international travel and lower jet fuel prices. Major North American carriers with…
Shopping for mortgage rates? Keep an eye on the U.S. election – National
Despite an oversized interest rate cut from the Bank of Canada last week, experts who spoke to Global News say Canadians shouldn’t be expecting much more discounting on fixed mortgage rates. In fact, movements south of the border — a…
Canada’s economy stalled in August amid rail shutdown: StatCan – National
The Canadian economy posted flat growth in August, Statistics Canada said Thursday, but there were signs of a rebound stirring in September. Goods-producing industries saw their sharpest drop since December 2021 as manufacturing and utilities sectors contracted in the month….
Bare trust tax filing rules are getting another exemption, CRA says – National
Descrease article font size Increase article font size The Canada Revenue Agency is getting out ahead of the confusion stoked by an eleventh-hour reversal on bare trust tax reporting requirements last year. The CRA said Tuesday that it is extending…
Homeownership, pension plans playing big role in Canada’s wealth gap – National
Statistics Canada’s latest financial security survey shows a stark disparity between the wealth of homeowners and renters, even as it fails to capture the true scale what’s owned by Canada’s richest families. The survey, conducted only every few years, shows…
As homeownership plummets, young Canadians are moving in with family: poll – National
Descrease article font size Increase article font size Young Canadians are holding fast to the dream of buying a home, even as overall rates of ownership are falling sharply, according to a new poll released by Scotiabank Tuesday. The polling…
Increased old age security pensions set to roll out. How much? – National
Canadian seniors are set to receive a scheduled top-up in benefits as the Liberal government faces pressure to increase payments for those under the age of 75 years. October payments of the old age security (OAS) pension will roll out…
McDonald’s shares slide in wake of fatal E. coli outbreak. What to know – National
McDonald’s scrambled on Wednesday to contain the damage from an E. coli outbreak linked to Quarter Pounder burgers that has killed one person and sickened nearly 50 others, as it pulled the menu item from restaurants across a dozen states….
Breaking a mortgage can be costly as rates fall. How to lessen the penalty – National
This article is part of Global News’ Home School series, which provides Canadians the basics they need to know about the housing market that were not taught in school. The Bank of Canada’s oversized interest rate cut this week might have some Canadian…
After Bank of Canada’s oversized cut, is lower and faster the new pace? – National
The Bank of Canada delivered an oversized interest rate cut of half a percentage point on Wednesday, focusing now on boosting the Canadian economy amid signs inflation is well under control. The central bank’s policy rate now stands at 3.75…
Looking for a used car? Why supply is drying up, and what it’s doing to prices – National
Already low on inventory, the used car market is facing an additional supply crunch as fewer off-lease vehicles return to dealership lots — and that’s contributing to higher prices. A used car was averaged at $35,754 last month compared with…
Rogers Q3 earnings fall flat on weak subscriber additions – National
Descrease article font size Increase article font size Canada’s Rogers Communications on Thursday missed market expectations for third-quarter wireless subscriber additions, hit by cautious spending on its mobile plans and stiff competition in the telecom space. The company added 101,000…
Newcomers can transfer foreign credit history in new Equifax program – National
Equifax Inc. is launching a program to allow newcomers to transfer their foreign credit history to Canada. The credit reporting company said Thursday that the Global Consumer Credit File will make it easier for immigrants to access services like loans…
Trudeau ‘concerned’ about TD Bank’s actions in U.S. money laundering case – National
Prime Minister Justin Trudeau says the federal government is “concerned” about the actions of TD Bank’s U.S. subsidiaries that led to a historic US$3-billion plea deal to settle money laundering charges this month. Trudeau made the comments during question period…
Bank of Canada would be ‘justified’ cutting rates by half a point. Here’s why – National
After proceeding at a tentative, 25-basis-point cut pace in the first three interest rate cuts of its cycle, many economists expect the Bank of Canada will take an oversized step lower in its upcoming decision on Wednesday. The central bank’s…
Deficit likely surpassed Liberal pledge for $40B cap this past year: PBO – National
The federal government likely failed to keep its deficit below the promised $40-billion cap in the last fiscal year, the parliamentary budget officer said on Thursday. The budget watchdog estimates in its latest economic and fiscal outlook that the federal…
Netflix stock sees new peak amid high hopes for ‘Squid Game’ return – National
Netflix shares hit an all-time high on Friday, buoyed by investor optimism that its robust content lineup will help the streaming giant maintain upbeat subscriber growth even as the boost from its password-sharing crackdown wanes. The company, widely seen as…
How to protect yourself from scams – National
NEW YORK (AP) — October isCybersecurityAwareness Month, which means it’s the perfect time to learn how to protect yourself from scams. “Scams have become so sophisticated now. Phishing emails, texts, spoofing caller ID, all of this technology gives scammers that…
‘Big battleground’ of holiday shopping looms. How to trim your expenses – National
‘Tis the season to be flexible and budget-conscious. The weather might be cooling but Canadians still feeling the heat from years of inflation are looking to spread the holiday cheer this year without breaking the bank. Average spending on holiday…
$5.5M for Jasper tourism recovery pledged by federal, provincial governments
Descrease article font size Increase article font size The Alberta and federal governments are putting a combined $5.5 million toward attracting tourists to the Rocky Mountain town of Jasper. A July wildfire destroyed one-third of the town, including multiple hotels…
Ottawa’s mortgage changes will be a ‘double-edged sword,’ TD economist warns – National
Ottawa’s proposed mortgage changes may well give first-time homebuyers a near-term boost in affordability, but could also stoke vulnerabilities in the Canadian economy, a TD Bank economist argues. Rishi Sondhi penned an analysis of the Liberal government’s plans to expand the…
U.S. says accused SEC hacker caused bitcoin prices to spike over US$1K – National
Descrease article font size Increase article font size An Alabama man was arrested Thursday for his alleged role in the January hack of a U.S. Securities and Exchange Commission social media account that led the price of bitcoin to spike,…
Latest Canada Child Benefit payments roll out this week. How much? – National
Descrease article font size Increase article font size Canadian parents are set to receive the latest child benefits from the federal government on Friday. October payments of the Canada Child Benefit (CCB) will go to eligible families who have children…
CRA says 330 employees fired for inappropriately claiming CERB – National
Descrease article font size Increase article font size More than 300 employees of the Canada Revenue Agency have been terminated in the past year for inappropriately receiving the Canada Emergency Response Benefit (CERB) during the COVID-19 pandemic, with the final…
Inflation’s sharp drop to 1.6% fuels calls for half-point rate cut – National
The annual rate of inflation slowed sharply in September, falling below the Bank of Canada’s two per cent target, Statistics Canada reported Tuesday. Annual inflation was 1.6 per cent in the month, down from two per cent in August, thanks…
Stagnant housing market prompts CREA to trim 2024 outlook – National
The Canadian Real Estate Association is downgrading its housing market forecast for the remainder of the year again, saying the Bank of Canada’s interest rate cuts haven’t spurred the gradual improvement it previously anticipated. CREA said Tuesday it now thinks…
Porter Airlines’ ascent: Can the comfort carrier last in Canadian skies?
Porter Airlines has perhaps the loftiest goals in Canadian skies: compete with the sector’s established players, not solely by trying to beat them on cost, but by winning the hearts of its passengers. “It’s a completely different way to travel…