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Stephen King among trial witnesses set to raise fears over publisher merger
The U.S. Justice Department will ask a federal judge on Monday to block a $2.2-billion merger of two of the “Big Five” book publishers — Penguin Random House and Si…
01 Aug 2022 | Economy -
Amid Russian gas cutoff concern, Germany debates switching off nuclear plants
Rising concern over the impact of a potential Russian gas cutoff is fueling the debate in Germany over whether the country should switch off its last three nuclear …
31 Jul 2022 | Economy -
Could Canada follow the U.S.’s economic decline? Here’s what experts say
Call it a tale of two economies: the latest figures from Statistics Canada on Friday show economic growth in the country slowed but likely avoided a decline through…
30 Jul 2022 | Economy -
Magna posts Q2 loss as China lockdowns, supply chain woes weighed
Magna International Inc. said Friday that COVID-19 lockdowns in China and a stronger U.S. dollar relative to other currencies, particularly the euro, negatively imp…
29 Jul 2022 | Economy -
Statistics Canada to release May GDP figures amid soaring inflation
Statistics Canada will release its latest reading on economic growth this morning.
29 Jul 2022 | Economy -
Ottawa’s plan for hybrid work flawed, public service unions say
Federal public service unions say the government’s plan to get employees back to the office is confusing, disjointed and jeopardizing health and safety.
29 Jul 2022 | Economy -
Inflation, high rates putting big purchases on hold? How to budget for must-buys
Canadians are increasingly shying away from buying big-ticket items amid rampant inflation and rising interest rates, new polling shows, but experts say there are w…
28 Jul 2022 | Economy -
Rising inflation hindering Kelowna’s 10-year capital plan
Kelowna City Council will be reviewing the latest model of the city’s 10-year capital plan Monday morning after several adjustments were made, meaning some projects…
25 Jul 2022 | Economy -
Cooling housing market shows short supply didn’t fuel COVID price surge: BMO economist
Canada’s massive run-up in housing prices during the COVID-19 pandemic had more to do with investor demand and rock-bottom interest rates than oft-talked about conc…
20 Jul 2022 | Economy -
Canada’s inflation rate hit 8.1% in June. Is this the peak?
The annual rate of inflation in Canada hit 8.1 per cent in June as prices on gasoline surged, Statistics Canada reported on Wednesday. And economists are starting t…
20 Jul 2022 | Economy -
Inflation in Canada soared 40 years ago. Is today’s price surge any different?
Inflation in Canada continues to surge despite the Bank of Canada’s efforts to tamp down on price growth, with some economists and the central bank’s own governor e…
19 Jul 2022 | Economy -
Bank of Canada interest rate hike is a ‘hammer to housing’ market: BMO economist
A BMO Capital Markets senior economist says the Bank of Canada’s recent move to increase its key interest rate is setting up the housing market for an even deeper c…
18 Jul 2022 | Economy -
Inflation climbed even higher in June amid ‘reopening effect’, economists predict
Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further.
17 Jul 2022 | Economy -
Inflation could go ‘a little over’ 8% as early as next week: Bank of Canada chief
The Bank of Canada expects inflation to go “a little over” 8%, as soon as next week when June’s data is released, and stay in that range for a few more months, Gove…
16 Jul 2022 | Economy -
Canada’s housing market is cooling as rates rise. But rents have never been hotter
The same forces cooling the national housing market are putting pressure on the country’s already-tight rental sector, driving rent through the roof in many large c…
15 Jul 2022 | Economy -
Home sales fell 24% annually across Canada in June, prices dip from May: CREA
The Canadian Real Estate Association says home sales across the country fell again in June, but the decreases are smaller than those seen in previous months.
15 Jul 2022 | Economy -
Majority say Canadian airport delays ‘a national embarrassment,’ avoiding travel: poll
Seventy per cent of Canadians agree the widespread delays at airports across the country are a “national embarrassment,” a new poll suggests, with nearly 60 per cen…
15 Jul 2022 | Economy -
Loonie falls to 20-month low after Bank of Canada’s supersized rate hike
The loonie hit a 20-month low, one day after the Bank of Canada announced its largest interest rate hike since 1998.
14 Jul 2022 | Economy -
Recession fears won’t faze Bank of Canada, economists say. Why that may be a good thing
Governor Tiff Macklem defended a surprise jump in the Bank of Canada’s benchmark interest rate on Wednesday with the argument that “front-loaded” rate hikes are mor…
13 Jul 2022 | Economy -
‘A big shock’: Canadians feeling squeezed by Bank of Canada’s interest rate hikes
The Bank of Canada’s continued interest rate hikes this year — including Wednesday’s surprise one per cent bump — have hit Canadians like Aashti Vijh hard.
13 Jul 2022 | Economy -
How many Canadians received COVID benefits? Here’s what the 2021 census says
New data released Wednesday provides the clearest snapshot yet of how many Canadians accessed the COVID-19 support programs the government hastily rolled out at the…
13 Jul 2022 | Economy -
U.S. inflation unexpectedly hits 9.1%, setting new 40-year high
Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for ano…
13 Jul 2022 | Economy -
EV battery materials manufacturing plant to be built in Loyalist Township
Loyalist Township and Eastern Ontario are receiving an economic boost as an industrial-scale manufacturing plant is set to be built there.
13 Jul 2022 | Economy -
Bank of Canada expected to raise key interest rate to 2.25% as inflation soars
The Bank of Canada will make its key interest rate announcement this morning as inflation remains well above its target.
13 Jul 2022 | Economy -
More price hikes coming to Canadian grocery stores this fall, food suppliers say
Canadian food suppliers are once again issuing notices to grocery retailers informing them of upcoming price hikes.
13 Jul 2022 | Economy -
Majority of Canadians think country is in recession, new polls shows
Most Canadians believe the country is in a recession and that prices are going to continue to rise for the foreseeable future, according to a new poll.
12 Jul 2022 | Economy -
Businesses lost more than internet during Rogers outage: ‘Our sales were diminished’
Last Friday, more than 10 million Canadians across the country woke up to a nationwide Rogers network outage that left many without cell service, scrabbling for an …
11 Jul 2022 | Economy -
Why is Sri Lanka in an economic crisis? Here’s what we know
Sri Lanka‘s economic crisis looks to have finally toppled President Gotabaya Rajapaksa.
10 Jul 2022 | Economy -
Bank of Canada will hike interest rate by 0.75% this week, economists predict
Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally.
10 Jul 2022 | Economy -
Canada will let Germany return turbine to Russia’s Gazprom, citing ‘hardship’
The Canadian government says it will allow Germany to return controversial turbines being serviced in Canada to Russia’s Gazprom, which has blamed the turbines for …
10 Jul 2022 | Economy -
Canada shed 43K jobs in June, marking 1st employment drop since January
The Canadian economy lost 43,000 jobs in June, marking the first decline in employment since January.
08 Jul 2022 | Economy -
Wages in Canada are rising. Will inflation, interest rates follow suit?
Signs of wages ticking higher could be just the balm some Canadians need to offset searing hot inflation.
08 Jul 2022 | Economy -
As airfares surge, here’s how Canadians can find cheaper flights
For those who remain undeterred by the daunting lines and flight delays at Canadian airports, questions remain about how to save money on air travel amid mounting f…
07 Jul 2022 | Economy -
Home prices decline in Kitchener-Waterloo for 4th straight month
Housing prices have dropped for the fourth consecutive month in the area in June, according to the Kitchener-Waterloo Association of Realtors.
06 Jul 2022 | Economy -
‘Collateral damage’: Recession, job losses likely as interest rates rise, study shows
The Bank of Canada’s strategy of rapidly increasing its key interest rate in an effort to tackle skyrocketing inflation will likely trigger a recession, a new study…
05 Jul 2022 | Economy