Category: Finance

The Bank of Canada is set to decide whether to cut, hold or increase interest rates on Wednesday  — and a growing number of economists say they are anticipating a cut. “We think that the Bank of Canada should and will cut interest rates again next week,” said Andrew Grantham, executive director and senior economist […]

Descrease article font size Increase article font size The massive Powerball lottery in the U.S. finally has a winner. The US$1.787 billion prize — the second-largest U.S. lottery jackpot in history — followed 41 consecutive drawings in which no one matched all six numbers. The last drawing with a jackpot winner happened on May 31. […]

Wall Street is holding steady on Thursday as the countdown ticks to an update on the U.S. job market coming Friday that could clear the way for the cuts to interest rates that investors love. The S&P 500 rose 0.2 per cent in early trading. The Dow Jones Industrial Average was down 45 points, or […]

Canadians looking for a salary or wage bump to help with the cost-of-living crunch may be in for disappointment as data suggests businesses are being more cautious — and as labour productivity dropped the most since 2022 amid the U.S. trade war. “I think people should be cautious,” says Darcy Clark, senior principal in compensation […]

In early 2022, it looked like Canada’s condo market would never slow down. For older buyers with a little extra cash in hand, buying one may have seemed like a smart way to set themselves up for retirement. Three years on, experts warn that the condo crash makes these units a bad investment — especially […]

Technology stocks have been slipping over the last week, with companies like Nvidia and Tesla seeing sharp drops and spikes in value on a day-to-day basis. With the addition of the uncertain trade war and tariff outlook that can have ripple effects on stock markets, you may be on edge as you watch your investments […]

Ahead of the 2025 federal budget to be released this fall, some are raising a question that could be a third rail in Canadian politics: is it time to reform the Old Age Security program? The founder of Generation Squeeze, which is a charitable “think and change tank” with a mandate to “champion generational fairness,” […]

Despite the U.S. taking in record income from President Donald Trump’s tariffs in July — with a 273% increase in customs revenues (or $21 billion) from this time last year — the U.S. budget deficit is still higher, according to Treasury Department data released Tuesday. The government’s shortfall has climbed 20% this fiscal year compared to the same period in […]

By Staff The Canadian Press Posted August 10, 2025 11:55 am 1 min read Descrease article font size Increase article font size The winning numbers in Saturday’s Lotto 6/49 draw for an estimated $5 million: 15, 17, 21, 22, 38 & 45. Bonus: 26. The winning number for the guaranteed $1 million: 35679933-01. Get weekly […]

Stocks are opening lower on Wall Street and Treasury yields are falling sharply after the government reported a sharp slowdown in hiring last month. Markets are also reacting early Friday to the latest tariff news. The S&P 500, the Dow Jones Industrial Average and the Nasdaq composite were each down between roughly 1.7-2.5 per cent […]

Canada’s economy shrank in May for the second straight month as the trade war with the United States continues to change some financial priorities for businesses and consumers alike. This is because U.S. President Donald Trump’s tariff policies are starting to slowly increase some costs for businesses, which can potentially mean higher prices for consumers […]

Descrease article font size Increase article font size Interest rates in Canada are holding steady for now after the central bank left it unchanged on Wednesday. The Bank of Canada opted to keep its overnight benchmark at 2.75 per cent, as most economists expected. This marks the third straight monetary policy meeting where rates have […]

Under pressure from the U.S. trade war and a slowing economy, Canada’s provinces are all expected to run fiscal deficits this year — but a Conference Board of Canada report predicts those deficits will narrow in the coming years. The report released Tuesday paints a picture of provinces struggling to balance their books. Not long […]

This week is sure to be a nail-biter for many Canadians and Americans watching whether central banks in both countries will hold their current interest rates in place. On July 30, both the Bank of Canada and the United States Federal Reserve will announce the status of the benchmark or overnight interest rate. This is […]

While the latest Bank of Canada survey data suggests both businesses and consumers are in need of more financial relief amid the trade war, many economists doubt the central bank will cut rates on July 30. Most business owners are feeling less pessimistic about a potential recession than earlier this year, but still say they’re […]

The House has passed two bills intended to boost the legitimacy of the cryptocurrency industry with new regulations as President Donald Trump has pushed to make the U.S. the “ crypto capital of the world.” One of the bills, which would regulate a type of cryptocurrency called stablecoins, had already passed the Senate with broad […]

Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters a downturn due to economic uncertainty related to U.S. tariffs policy and OPEC+ pumping […]

U.S. stocks are shaky on Wednesday as President Donald Trump said he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get lower interest rates, which it loves, but could also mean a weakened Fed unable to make the unpopular moves needed to get […]

By Staff The Canadian Press Posted July 14, 2025 1:03 pm Updated July 14, 2025 1:11 pm 1 min read Descrease article font size Increase article font size The Canadian Union of Public Employees says cabin crew at Porter Airlines have filed a union certification application with the Canada Industrial Relations Board. The union would represent about […]

Bitcoin surpassed US$120,000 for the first time on Monday, marking a milestone for the world’s largest cryptocurrency as investors bet on long-sought policy wins for the industry this week. Bitcoin scaled a record high of US$123,153.22 before pulling back slightly to trade 2.4 per cent higher around US$122,000. Later in the day, the U.S. House […]

By Staff The Canadian Press Posted July 11, 2025 3:52 pm Updated July 11, 2025 3:56 pm 1 min read Descrease article font size Increase article font size Alberta and Ottawa have signed off on $203 million for new affordable housing projects across the province. Provincial Social Services Minister Jason Nixon says the joint funding […]

Real estate investors are snapping up a bigger share of U.S. homes on the market as rising prices and stubbornly high borrowing costs freeze out many other would-be homebuyers. Nearly 27 per cent of all homes sold in the first three months of the year were bought by investors — the highest share in at […]

As the U.S. government takes big steps to usher cryptocurrency into mainstream finance, one of the world’s biggest crypto exchanges is urging the Canadian government to match and exceed those efforts, even as concerns mount. Coinbase Global Inc. is pushing hard to educate Canadian politicians about the moment in the hope of seeing someone in […]

An additional 293,500 Canadians enrolled as members of a registered pension plan in 2023, Statistics Canada data released Tuesday showed. According to a StatCan report, the number of Canadians who were active members of a registered pension plan (RPP) grew by 4.2 per cent to a total of roughly 7.2 million in 2023. Of these, […]

The tax filing deadline for most Canadians this year was April 30, but there is still a bit more time given to individuals who are self-employed or have a spouse or common-law partner who is self-employed. But the clock is ticking with just days to go, and it is critical to make sure that returns […]

The Liberal plan to give first-time homebuyers a tax break on a newly built home could have substantial impacts on housing affordability — with a few caveats — a new analysis finds. The Liberal government introduced legislation on June 5 to eliminate the GST portion from new home sales of up to $1 million for […]

The national average asking rent in May was down 3.3 per cent from a year earlier at $2,129, marking the eighth consecutive month of year-over-year decreases. The monthly report from Rentals.ca and Urbanation said Monday asking rents held steady from April, with a 0.1 per cent month-over-month increase. Purpose-built apartment asking rents declined two per […]

Tiff Macklem is wearing an Edmonton Oilers pin as he reflects on coming very close to beating big odds. It’s a significant day for the governor of the Bank of Canada: he’s just laid out his reasons to the entire country and a global audience for keeping the central bank’s benchmark interest rate steady for […]

Many Canadians are eagerly watching the Bank of Canada’s interest rate announcement this week to see if it could mean a bit more breathing room for their finances. But many experts believe the current rates for those who make regular payments on loans like a mortgage won’t be changing any time soon. This is partly […]

A bouquet in hand, a photographer clicking away and glasses raised in celebration: for some Canadian couples, these wedding day hallmarks may come with rising costs. And with wedding season in full swing, couples tying the knot this summer might need to brace for a steeper bill, thanks to tariffs. But of course, it depends […]

Canada does not know what it would cost to join U.S. President Donald Trump’s proposed “Golden Dome” missile defence program, Defence Minister David McGuinty said Wednesday. “I’m not in a position to evaluate the numbers. We’re going to bring a budget out in the fall, and when we bring a budget out we’ll have a […]

A third of Canadians approaching retirement in the next two years expect to keep paying their mortgages after they have stopped working, a new report by Royal LePage shows. A survey of 1,626 Canadians conducted by real estate firm Royal LePage in May found that two per cent of Canadians expect to retire in 2025 […]

Canada Post workers have issued strike notice to start on Friday, May 23 at 12 a.m. local time. On Monday, Canada Post said it was notified by the Canadian Union of Postal Workers (CUPW) that workers for both urban and RSMC (rural and suburban mail carriers) bargaining units issued strike notice. Operations will continue as […]

Descrease article font size Increase article font size Moody’s on Friday downgraded its credit rating of the United States by a notch to “AA1” from “AAA,” citing rising debt and interest “that are significantly higher than similarly rated sovereigns.” The rating agency had been the last among major ratings agencies to keep a top, triple-A rating […]

The federal government does not plan to table a federal budget before the House of Commons rises this summer, the finance minister said Wednesday, drawing criticism from opposition parties of Prime Minister Mark Carney’s priorities. Finance Minister François-Philippe Champagne said the government’s first priority will be to pass what the Liberals are calling a “middle-class […]

Stocks rallied Monday after China and the United States announced a 90-day truce in their trade war. Each of the world’s two largest economies agreed to take down temporarily most of its tariffs against the other, which economists had warned could start a recession and create shortages on U.S. store shelves. The S&P 500 shot up 3.3% to pull back […]

As stock markets rallied after news of a 90-day trade war truce between China and the U.S., some stakeholders remain cautious about what it could mean for the Canadian economy and consumers. “Canada’s industries have been hard hit by this trade war … any de-escalation at this time is good news for global trade,” says […]

Billionaire Microsoft co-founder Bill Gates — the 13th-richest man in the world — says he will donate 99 per cent of his remaining tech fortune to the Gates Foundation, which is set to shutter in 2045, earlier than initially planned. Gates’ current assets are valued at $113.5 billion USD, according to Forbes. His pledge is […]

A manufacturer of capsules and tablets for the pharmaceuticals industry is scouting Asia for new partners. A steel component maker, with a client base in the United States stretching back 35 years, is telling customers to expect to pay higher prices. Another company, that produces mascot costumes for sporting or school events, is lowering its […]

Many global automakers are planning for the costly impact of the trade war, and some saying they expect to see profits drop by billions of dollars by the end of the year, mainly citing tariffs on the auto industry imposed by U.S. President Donald Trump. Companies like Ford, General Motors, Volkswagen, Stellantis, and many others […]

The film and streaming industry is the latest area of focus for U.S. President Donald Trump and his tariff strategy, but experts say there are many challenges to imposing tariffs on production companies. What has Trump said about the film industry? Leading up to the election, Trump campaigned on reviving domestic manufacturing and production in […]

Owning a vehicle in Canada is rapidly getting more expensive — in some cases, at a faster rate than inflation — and could rise 25 per cent with tariffs and inflation, a new survey suggests. The Leger survey for Turo Canada, a car-sharing company, says the average cost to own a car or truck has […]

Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Donald Trump’s tariffs on its business. Apple’s earnings for the first […]

By Dee-ann Durbin The Associated Press Posted May 1, 2025 9:33 am 1 min read Descrease article font size Increase article font size McDonald’s store traffic fell unexpectedly in the first quarter as economic uncertainty weighed on diners. The burger giant’s same-store sales, or sales at locations open at least a year, fell one per cent […]

Uncertainty about both the rapidly changing U.S. trade policy and the impact it’s having on the Canadian economy dominated discussion by the Bank of Canada governing council in the lead-up to its interest rate hold earlier this month. The group also identified some key metrics for assessing the effect of tariffs on inflation as it makes monetary policy […]

Read more about why economists call stagflation an economic “double kiss of death” here. U.S. stocks began Wednesday with a thud after a report suggested the U.S. economy may have shrunk at the start of the year. But the big losses soon eased in the latest sharp swings to hit Wall Street amid uncertainty about what President […]

Amazon says it’s not planning to display added tariff costs next to product prices on its site — despite a report that sparked speculation the e-commerce giant would soon show the new import charges, and the White House’s fiery comments denouncing the purported change. The Trump administration’s reaction appeared to be based on a misinterpretation […]

With just a few days left before the tax filing deadline, many Canadians are still waiting until the last minute to submit. This tax year comes with new challenges, and experts say it is all the more crucial to file as early as possible. When is the tax filing and payment deadline? The deadline this […]

U.S. and international markets are starting the trading day with big gains, a clear sign of relief after President Donald Trump said he would not attempt to fire the head of the Federal Reserve. The Dow Jones Industrial Average jumped nearly two per cent at the opening bell Wednesday, while S&P 500 and the Nasdaq each […]

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 rose 1,016 points, or 2.7%, and the Nasdaq composite gained 2.7%. All three indexes more […]

U.S. President Donald Trump repeated his attacks Monday against the chair of the Federal Reserve, demanding that the central bank lower its key interest rate to boost the economy. Stock markets in the U.S. and Canada dropped as a result. Trump called Jerome Powell “a major loser” and said that energy and grocery prices are […]

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 the index. The Nasdaq composite slipped 0.1% in a mostly steadier performance following its sell-off […]

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, 55 per cent of Canadians reported carrying financial debt. The increased overall cost of living […]

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 prices increased again last month to reach a new record-high of $6.23 despite a drop […]

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, senior investment adviser at the Allan Small Financial Group with iA Private Wealth. “I don’t […]

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 a whiff of economic chaos but now they are selling them as not even the […]

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 per cent following Trump’s decision to pause many of his tariffs worldwide. The Dow Jones […]

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 frustrating many, with users reporting they can’t see important documents on their profiles like their […]

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 surged 9.5%, an amount that would count as a good year for the market, while […]

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 of our economic relationship with the Americans. When asked which party and leader would do […]

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, stock markets have erased trillions of dollars in value. Many Canadians may be wondering if […]

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 expected.” He also said that the import taxes will probably lead to “at least a […]

By Evan Vucci The Associated Press Posted April 4, 2025 1:12 pm Updated April 4, 2025 1:14 pm 1 min read Descrease article font size Increase article font size World shares slid downward, U.S. futures fell and Wall Street appeared on track for another day of crushing losses Friday as investors counted the potential costs […]

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 U.S. Tiny tropical islands and remote outposts in the Antarctic and far North were included […]

NEW YORK (AP) — Financial markets around the world are reeling Thursday following President Donald Trump’s latest and most severe set of tariffs, and the U.S. stock market is taking the worst of it so far. The S&P 500 was down four per cent in midday trading, more than other major stock markets, and at […]

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, laid out across eight pages of documents, includes a baseline 10 per cent tariff on […]

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 to begin selling off inventory at most of its 80 Hudson’s Bay stores, three Saks […]

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 move ahead with a key Liberal tax policy. The Prime Minister’s Office says a plan […]

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 long-term index fell 24.8 index points to 25.0 in March. Measured on a scale between zero and 100, an […]

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 grow more slowly this year and next than it did three months ago, according to […]

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 cover a cheque or other pre-authorized charge. The changes included in an order-in-council last week […]

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 to update its systems to reflect the current inclusion rate of 50 per cent on […]

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 sinking further Tuesday after Trump said he would double tariffs on Canadian steel and aluminum, […]

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 400 points. The S&P 500 dropped 2.7% to drag it close to 9% below its all-time […]

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 often overlooked costs could make a significant difference when it comes time to file. The […]

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 of the president’s own crypto business, World Liberty Financial, his social media posts showed. In […]

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 business. The department store company that dates back to 1670 said in a statement it […]

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 as soon as Friday or early next week, Trump told reporters in the Oval Office. […]

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 the trade war triggered by the U.S. on Tuesday could ripple through the economy in […]

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 demonstrates the clear and urgent need to build more natural resource infrastructure,” said the Explorers […]

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 S&P 500 dropped 1.8% after Trump said there was “no room left” for negotiations that […]

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 date can only be claimed in a tax refund next year. Money that goes into […]

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. Yet that pressure has only grown under the new Trump administration in the U.S. Last […]

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 feeling right now, this might be a good year to take a bit of a […]

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 C$591 million ($414.39 million) in the quarter. A revival in dealmaking activity has boosted the […]

Descrease article font size Increase article font size 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 was first proposed in 2008 to bring […]

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 well as dedicated charters in northern Alberta and B.C. EIC says Canadian North’s routes are […]

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 on Wednesday. OAS and CPP are monthly and taxable benefits that have risen by up […]

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 Industrial Average dropped 748 points, or 1.7%, and the Nasdaq composite tumbled 2.2%. The losses […]

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 of several clothing brands. Canadian Tire says the agreement will see the sportswear company wind up in […]

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 once was. Turns out that if love is reputed to be eternal, a low price for cocoa, the essential ingredient […]

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 its governing council deliberations, outlining the discussions its members had in the run-up to the […]

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 a second day of testimony. Rising prices for housing, food and energy pushed the Consumer […]

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. “If you’re going to buy a car sometime in 2025, it would probably be good […]

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 a landmark fine from U.S. regulators. TD holds 184.7 million shares of Schwab’s common stock, […]

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 Dec. 14 and has offered Canadians a break on the federal portion of sales tax […]

Liberal leadership contenders Mark Carney and Chrystia Freeland want Canada to look beyond the United States to bolster its roster of trade partners amid ongoing tariff threats from President Donald Trump. Carney, speaking in Windsor, Ont., in front of the Gordie Howe International Bridge on Wednesday, said Canada should remain “closely integrated” with the U.S. […]

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 comes to the cost of modern dating. Canadians gearing up to find a lasting partner […]

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 secure a cheaper rate amid the dysfunction, but also warn that the forecast for the […]

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 days to negotiate new security measures at the border, but the economic standoff between China […]

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. President Donald Trump has imposed 25 per cent tariffs on Mexican and most Canadian imports […]

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 Friday that the Liberals will not implement a planned hike to the capital gains inclusion […]

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 Mexico are set to face 25 per cent tariffs on all goods imported to the […]

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” by Conservative Opposition Leader Pierre Poilievre. “Since Canada’s current climate policy has become too divisive, […]

Descrease article font size Increase article font size 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 tax season, while also for the first […]

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 nearly 30 years ago. U.S. retail giant Walmart’s Canadian branch, which plans to expand its […]

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 Roasters, tells Global News that the uncertainty tied to United States President Donald Trump’s tariff […]

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, which revealed the rate will increase $1.30 in 2025 through two hikes on April 1 […]

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 jab at the price gap, joking that while Americans face egg rations, Canadians are “yolking […]

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 to impose blanket tariffs on Canadian goods, and said there was more “uncertainty” in its […]

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 fresh food, said chief executive Eric La Flèche. “The dollar is the big worry,” La […]

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 fuels on climate change that now have intensified storms and wildfires and caused billions of […]

Chinese startup DeepSeek sent shockwaves through financial markets Monday on claims that it could develop advanced artificial intelligence models using much cheaper semiconductors than previously thought possible. Those implications sent shares of Nvidia, a chipmaker whose value surged in recent years on promises to power the AI revolution, down double digits as markets opened for […]

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 an argument for keeping borrowing costs higher for longer. On the other: fears of a […]

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 Mexico, in addition to targeting Chinese exports. He’s given a variety of reasons to justify […]

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 cost of imports, an executive said Wednesday. “Whatever the administration decides to do, we will […]

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 November, Canadian officials have been largely focused on a response to his threats to impose […]

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 month. That’s down from 1.9 per cent in November. The December inflation figures capture part […]

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 on goods entering the U.S. from Canada and other trade partners — appears to have […]

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 outgoing chief. Last month, the Canadian bank warned of a challenging 2025 and suspended its […]

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 reduce the tax burden on Canadians and businesses to gird the economy against the coming […]

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 news release on Wednesday that it has “simplified its sign-in process, making it easier to […]

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 send home prices higher in many cities — but not all markets will feel the […]

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 gauge of how Canadians feel about their ability to pay down debt, reported Monday that […]

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, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan. The tax-free rebates return 90 per cent […]

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 after the problems were exposed in a CBC News investigation published Thursday. A Loblaw spokesperson […]

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 unemployment rate down a tick to 6.7 per cent in December, according to Statistics Canada. […]

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 gains rise to two-thirds from half in some circumstances, are currently in limbo and at […]

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 CWB is a refundable tax credit and the payments are aimed to help workers cope […]

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 — experts say there are some steps consumers, investors and travellers can take to ease […]

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 administration. Christopher Waller, an influential member of the Fed’s board of governors, said he expects […]

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 it’s clear which party will form government this year in Canada’s upcoming federal election, the […]

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 the portion of capital gains on which companies pay tax to two-thirds from one-half. The […]

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 struggling for months heading into the new year, briefly surged by roughly one per cent […]

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. There’s a strong mandate for the current bull market to continue in the new year […]

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 data in 2007, but a decline after 2021 and 2022 broke records. “It’s still well […]

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 that will roll out to Canadians with low and modest incomes. These tax-free quarterly payments […]

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 rules and lower borrowing costs, while some pockets of the Canadian housing market see competition […]

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 people’s pocketbooks and how they file tax returns. The official 2025 tax season kicks off […]

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 for Global News. The results of the poll, published Friday, found that one in four […]

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 Canadian dollar has been trading below 70 cents US in recent weeks and is nearly […]

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 its final regulatory hurdle. The Montreal-based National Bank said Friday the federal finance minister has […]

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 Policy Committee kept its main interest rate unchanged at 4.75% with new data showing inflation […]

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 penalties to fear. And if interest rates drop sharply, you can refinance that loan to […]

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 released Tuesday that they plan on reining in their gift shopping this holiday season. That […]

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 also signaled that it expects to reduce rates more slowly next year than it previously […]

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 from an inflation rate of two per cent in October. The November inflation data comes […]

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 for Canadian taxpayers to file their annual returns, building on efforts that are already underway. […]

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 spectre of United States president-elect Donald Trump’s protectionist policies loom large over the Canadian economy. […]

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 than $1 million will be a “game changer” for some buyers, real estate experts tell […]

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 at 3.25 per cent after the fifth rate cut in a row. The move was […]

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 Wednesday appears to be connected to the massive anti-money laundering probe against the Canadian lender’s […]

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 like Dollarama on items like electronics, light bulbs, batteries and toys in order to help […]

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 cheques, including the Canada Child Benefit, will continue to be delivered despite the national postal […]

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 cuts in 2024, the Bank of Canada’s key rate now stands at 3.25 per cent. […]

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 into those possibilities. The proposal passed along party lines with Mayor Ken Sim, who proposed […]

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 from a yearly figure of 2.6% in October. Excluding volatile food and energy costs, so-called […]

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 for $5 and a “budget-friendly” meal for students priced at $10.99. Nearby, New York Fries […]

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 of Canada is widely expected to lower its benchmark interest rate, currently sitting at 3.75 […]

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 Saturday, slashing the goods and services (GST) or harmonized sales tax (HST) from dozens of […]

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 in Balzac, a hamlet outside Calgary that is known for hosting retailer warehouses. Dollarama will […]

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 on Monday that it plans to lay off about five per cent of its global […]

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 crypto industry when he said he intends to nominate cryptocurrency advocate Paul Atkins to be […]

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 15th annual food price report released Thursday by a partnership that includes researchers at Dalhousie […]

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 added some 51,000 jobs in November, Statistics Canada said, but the unemployment rate jumped to […]

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, who is also the Liberal government’s deputy prime minister, made the pledge in Toronto after […]

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 contributions and grow investments inside with any withdrawals remaining tax-free. Contribution room starts to grow […]

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 a $3 billion penalty following a probe by U.S. regulators last year into its anti-money […]

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 2025 housing outlook on Thursday, forecasting the aggregate price of a home in Canada will […]

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 the bank added over 600,000 clients to its Canadian banking business, also helped by its […]

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 roots in global agricultural systems dating back some 160 years. The company has more than […]

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 Tuesday as it reported a fourth-quarter profit of $1.69 billion, up from $1.35 billion in […]

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 Post workers. It is asking customers to refrain from mailing items addressed to Canada, until […]

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 government rolled out during the COVID-19 pandemic wasn’t managed in a cost-effective way. Auditor General […]

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 of his incoming administration’s efforts to reshape North American trade this week, promising to levy […]

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. Canada’s economy did continue to grow in the third quarter, Statistics Canada reported on Friday. […]

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 entries” to hide about $132 million to $154 million of delivery expenses from the fourth […]

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 a two-month break on the goods and services tax or harmonized sales tax on dozens […]

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 cattle herds in this country is at a 40-year low. “There’s a lack of cattle […]

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 of keeping inflation at the two per cent target. His speech comes as the Bank […]

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 dollar dropped by nearly a full cent to a four-and-a-half-year low of 70.53 cents to the U.S. greenback late Monday in the wake […]

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 that “limited” progress was made on talks over the weekend. The union representing striking postal […]

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 with a harmonized sales tax who are set to see a shortfall in planned revenue […]

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 work stoppage earlier this month. The union representing nearly 1,200 longshore workers says the two […]

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 conference that wrapped this week, but as seen by a wave of criticism about weak […]

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 back at the Bank of Canada’s two per cent target in October, consumers are once […]

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. Company spokesperson Charmaine Khan says the radio industry is continuing to feel the pressure of […]

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 feeling the pinch of a higher cost of living. Prime Minister Justin Trudeau was in […]

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. Prime Minister Justin Trudeau made the announcement on Thursday, temporarily putting a break on the Goods and Services Tax on a slew of items, including certain groceries, […]

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 will provide capacity for future growth and efficiency while strengthening our market position,” said president […]

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, were both filed last week in U.S. District Court in Illinois and name Canada’s McCain […]

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 well and shares rose nearly 4% in premarket trading Tuesday. Walmart, based in Bentonville, Arkansas, […]

The latest child benefits are going out to Canadian parents this week amid a postal disruption as thousands of Canada Post workers remain on a nationwide strike. Eligible families who have children under the age of 18 years will receive November payments of the Canada child benefit (CCB) on Wednesday. Parents who are expecting payments […]

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 to JetBlue. Spirit, the biggest U.S. budget airline, filed a Chapter 11 bankruptcy petition after […]

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 of a class-action settlement approved by the British Columbia Supreme Court last month and valued […]

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 the picket lines Friday in a nationwide strike that has halted all mail and parcel […]

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 could have disastrous implications for the future of the national postal service itself, some warn. […]

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. The port authority confirms that the Canada Industrial Relations Board has ordered operations to resume […]

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 the program after an advocacy group for small business raised concerns that the rebate would […]

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 CEO said in an earnings call Wednesday. Per Bank, chief executive of Canada’s largest grocer, […]