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,…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

The Bank of Canada updated its monetary policy Wednesday, and held its key lending rate at 2.75 per cent for the third straight meeting.

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…

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…

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…

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.…

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…

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…

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…

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.…

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…

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 —…

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…

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…

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…

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…

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…

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…

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…

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.…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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,…

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…

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…

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…

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.…

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…

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…

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…

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…

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 gain from Tuesday that more than made up for a steep loss on…

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…

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 result, as investors worldwide get more skeptical about U.S. investments…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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 that hurts everyone. Not even a better-than-expected report on the U.S. job market,…

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…

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. The S&P 500 sank 4.8%, more than in major markets…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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 oil from the…

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…

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…

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…

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…

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,…

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…

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…

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,…

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…

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…

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…

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…

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…

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…

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…

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,…

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…

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…

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 time making a…

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…

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…

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…

The Bank of Canada warned after delivering another interest rate cut on Wednesday that Canada’s economy would be “tested” if the United States delivers on a threat to impose blanket tariffs on Canadian goods. In a “severe” scenario mapped out by the central bank, those tariffs could simultaneously send the…

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…

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…

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…

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…

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…

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% in morning trading. Big Tech stocks took some of the…

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…

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…

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…

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 of Ottawa’s GST/HST…

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…

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…

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…

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…

Signs of a burgeoning housing rebound fell flat as temperatures cooled across the country in December, but the Canadian Real Estate Association sees the stars aligning for a busy spring market. CREA said Wednesday that home sales fell 5.8 per cent on a month-to-month basis in December. Despite that, a…

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…

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…

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…

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…

Descrease article font size Increase article font size 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. Canadian employers collectively added some 91,000 net new jobs last month, the agency said. Most of the growth…

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…

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…

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…

The federal government has provided some 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…

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…

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…

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…

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…

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…

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…

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…

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,…

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…

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…

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…

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%…

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…

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 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…

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…

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…

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…

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 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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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.…

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…

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…

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…

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.…

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,…

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…

The small business loan program the federal government rolled out during the COVID-19 pandemic wasn’t managed with “due regard for value for money,” auditor general Karen Hogan said Monday. The Canada Emergency Business Account program lent 898,000 small businesses $49.1 billion to help cover expenses such as rent and payroll during the…

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…

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,…

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…

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…

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.…

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…

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…

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.…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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.…

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.…

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…

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…

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…

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…

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…