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Ramp up in U.S. auto strike expected to affect Canadian parts producers

2023-09-22 18:52:55 UTC

Autoworkers in the U.S. ramped up their strike Friday in a move that's expected to have knock-on effects for Canadian parts producers.

Expert warns of potential fallout if Indian student flows drop off

2023-09-22 16:55:43 UTC

Colleges, universities and communities across Canada would be impacted if political tensions were to affect the flow of Indian students to Canada, according to the president of the Asia Pacific Foundation of Canada.

Oil’s rally cools as tight crude market vies with hawkish U.S. Fed

2023-09-22 16:43:42 UTC

Oil eased off yearly highs, capping a tumultuous week that saw the U.S. Federal Reserve flagging a further rate hike and Russia banning diesel exports.

ATS signs deal to buy water purification company Avidity Science for $265 million

2023-09-22 15:11:27 UTC

ATS has signed a deal to buy Avidity Science LLC, a designer and manufacturer of automated water purification solutions for biomedical and life science applications, for $265 million.

Nova Scotia to mirror Ottawa and remove sales tax from new rental constructions

2023-09-22 14:36:04 UTC

Nova Scotia will remove the provincial portion of the harmonized sales tax from the construction of new rental apartment buildings, Premier Tim Houston said Thursday.

The Daily Chase: Retail sales gains in July; Stelco weighing U.S. Steel bid

2023-09-22 13:36:15 UTC

Here are five things you need to know this morning.

Oil rises toward US$94 as tightening market vies with hawkish U.S. Fed

2023-09-22 12:36:30 UTC

​Oil edged higher toward US$94 a barrel, capping a tumultuous week that saw the Federal Reserve flagging a further rise in U.S. interest rates this year and Russia ban diesel exports.

Pathways Alliance watching Trans Mountain's latest hurdles with dismay

2023-09-22 04:25:04 UTC

The group behind a proposed carbon capture and storage (CCS) network for Alberta's oilsands is watching the Trans Mountain pipeline expansion's latest regulatory hurdles with dismay.

National Bank CEO warns of harsh 'new reality' for borrowers

2023-09-21 22:27:36 UTC

National Bank of Canada is better positioned than many of its larger rivals to navigate a downturn that’s poised to hit banks’ balance sheets and customers, according to Chief Executive Officer Laurent Ferreira.

Cisco to buy Splunk for US$157-a-Share in US$28 billion deal

2023-09-21 15:02:20 UTC

​Cisco Systems agreed to buy cybersecurity company Splunk in a deal valued at about US$28 billion, creating one of the world's largest software companies.

The Daily Chase: India tensions ramp up; Markets react to rate decisions

2023-09-21 13:28:39 UTC

Here are five things you need to know this morning.

Oil retreats as Fed's rate signal eclipses decline in stockpiles

2023-09-21 12:29:51 UTC

​Oil fell after the Federal Reserve signaled that at least one more interest-rate hike is possible this year in its fight to subdue stubborn inflation, overshadowing signs of a tighter physical crude market.

RBC moves with job cuts on U.S., Canada capital markets desks

2023-09-21 04:02:37 UTC

Royal Bank of Canada pushed ahead with a round of job cuts in its capital markets operations, part of broader reductions announced in August that may climb above 1,000 positions and are aimed at helping the bank deal with a challenging economic environment.

Bank of Canada deliberations show complexity of rate decisions: economist

2023-09-21 03:39:55 UTC

The Bank of Canada’s release of its deliberations concerning its latest interest rate decision shows how complex these considerations can be, according to an economist.

Variable rate mortgage holders on the hook for thousands in interest: report

2023-09-20 18:51:01 UTC

As interest rates climb, variable-rate mortgage holders are paying thousands of dollars in added interest compared to people with fixed rates.

BoC watching its words to avoid spurring rate cut speculation, summary reveals

2023-09-20 18:39:46 UTC

The Bank of Canada was watching its words at its last interest rate announcement, in fear of spurring speculation that rate cuts are coming any time soon.

Canada home prices rose for sixth consecutive month in August: Index

2023-09-20 17:46:25 UTC

Housing prices across Canada rose in August, marking their sixth consecutive monthly rise, according to new data from the Teranet-National Bank House Price Index.

Financial uncertainty new normal for many Canadians, RBC survey shows

2023-09-20 16:27:25 UTC

A new RBC survey suggests financial uncertainty has become the new normal for many Canadians as inflation eats into their savings and hampers their future financial security.

What to expect as the U.S. Fed is set to announce its latest rate decision

2023-09-20 14:58:04 UTC

The U.S. Federal Reserve is set to leave its key interest rate unchanged Wednesday as it seeks to guide the U.S. economy toward a “soft landing" of cooling inflation without triggering a deep recession.

Oil dips after blistering climb with Fed and technicals in focus

2023-09-20 13:52:59 UTC

Oil fell as the market's breakneck rally that pushed prices to US$95 a barrel on Tuesday took a breather.

Ford avoids strike at Canada plants with late-night union deal

2023-09-20 12:34:59 UTC

​Workers at Ford Motor Canadian unit avoided a strike, reaching a tentative agreement late Tuesday after extending negotiations by 24 hours from a previous deadline.

Most Canadians view about Online News Act is news should be free, survey suggests

2023-09-20 11:16:49 UTC

A new survey suggests that most Canadians feel news should be free and accessible for anyone, while also believing that media will find other ways to make money.

Amazon to hire 6,000 workers in Canada for full-time, part-time and seasonal jobs

2023-09-19 21:06:26 UTC

Amazon.com Inc. says it is ramping up to hire more than 6,000 people across Canada.

Swings in inflation not ‘unusual,’ but underlying price pressures still high: BoC

2023-09-19 20:45:27 UTC

Bank of Canada deputy governor Sharon Kozicki says swings in the inflation rate are to be expected in a speech coming after the latest consumer price index report showed inflation climbed in August for the second month in a row.

Equinox Gold shares down nearly 20% after convertible debt offering

2023-09-19 17:28:31 UTC

Shares of Equinox Gold Corp. fell nearly 20 per cent in early trading Tuesday after the company announced a deal to raise US$150 million in an offering of convertible debt.

How can mortgage owners prepare for higher rates at renewal?

2023-09-19 15:42:36 UTC

Now well into the Bank of Canada’s interest rate hiking cycle, many mortgage owners have yet to feel the full effect of higher interest rates.

Canada’s inflation rate reaches 4% in August

2023-09-19 12:39:38 UTC

Statistics Canada says the country's inflation rate rose to 4.0% in August, largely due to higher gasoline prices.

The strike by auto workers is entering its 4th day with no signs that a breakthrough is near

2023-09-19 03:36:52 UTC

The auto workers' strike against Detroit's Big Three went into its fourth day with no signs of an early breakthrough and against the threat that the walkout could soon spread.

Rogers urged minister to not turn off its customers' access to 5G network on TTC

2023-09-18 20:34:22 UTC

Before Industry Minister François-Philippe Champagne ruled Rogers Communications Inc. must grant its rivals access to its cellular network on Toronto's subway, the company had urged Ottawa not to force it to turn off access for its own customers, newly released documents reveal.

Videotron facing class-action lawsuits in Quebec

2023-09-18 16:31:15 UTC

Videotron, a major provider of telecommunications services in Quebec, is the target of two class-action lawsuits alleging the company overcharged its residential customers in that province.

Toronto developer says GST rebate welcomed by industry

2023-09-18 15:52:04 UTC

A Toronto housing developer is praising the federal government’s decision to remove the GST from new rental projects as a way to address Canada’s housing crisis.

GST rental construction rebate a 'good first step,' developer says

2023-09-18 15:25:53 UTC

A Toronto housing developer is praising the federal government’s decision to remove the GST from new rental projects as a way to address Canada’s housing crisis.

CMHC reports annual pace of housing starts down 1% in August

2023-09-18 14:47:58 UTC

Canada Mortgage and Housing Corp. says the annual pace of housing starts in Canada edged down one per cent in August compared with July.

Calgary hosts global oil-producing nations at 24th World Petroleum Congress

2023-09-18 13:42:53 UTC

Hundreds of executives and government officials from oil-producing nations around the world are gathering in Calgary this week, against the backdrop of growing global pressure to reduce greenhouse gas emissions.

BMO to shutter retail auto finance business as bad debt mounts

2023-09-18 12:26:41 UTC

BMO Financial Group plans to close its retail auto finance business in order to reroute resources, as borrowers dig deep to stay on top of recent interest rate hikes.

Vehicle parts manufacturers monitoring job action in Canada, U.S.: industry leader

2023-09-16 04:09:59 UTC

Industry leaders are keeping a close eye on the automotive labour disputes happening in Canada and the U.S.

70-year amortization periods not realistic: OSFI

2023-09-16 01:03:54 UTC

A regulatory government agency has weighed in on reports of mortgage amortizations spanning decades longer than the typical 25 years, saying those projections do not reflect a borrower's actual repayment period and do not change a borrower's contractual obligations

Oil companies can only decarbonize as fast as the rest of the economy: Shell Canada

2023-09-15 19:53:20 UTC

The fossil fuel industry is increasingly under the microscope for its contribution to climate change, but the president of British oil giant Shell's Canadian subsidiary says oil and gas companies can't be held solely responsible for the pace of the global energy transition.

Canadian automakers, union stare down Monday strike deadline

2023-09-15 17:50:40 UTC

Thousands of striking autoworkers have walked off the job in the U.S. – a picture that could also take shape in Canada early next week should Ford Motor Company and Unifor fail to reach a new employment contract.

TikTok fined 345 million euros for putting EU children’s data at risk

2023-09-15 15:59:22 UTC

TikTok, the video-sharing social-media app that’s faced a global backlash over its links to China, was fined 345 million euros (US$368 million) in the European Union for alleged lapses in the way it cares for children’s personal data.

Ng won't confirm status of 'Team Canada' mission to India amid strained relations

2023-09-15 14:19:39 UTC

Trade Minister Mary Ng has spent the past four months talking up a major visit to India designed to boost Canadian exports to the world's most populous country.

Brent oil set for third weekly gain with tighter markets in view

2023-09-15 13:17:46 UTC

​Brent oil headed for a third weekly gain as the market continued to tighten on the back of supply curbs from Saudi Arabia and Russia.

Video game company Unity closes offices following death threat

2023-09-15 04:21:46 UTC

Unity Technologies Inc. cancelled a planned town hall and closed two offices Thursday after receiving what it said was a credible death threat in the wake of a controversial pricing decision earlier this week.

In Congress, a mounting push to bring Latin American countries under USMCA umbrella

2023-09-14 22:58:01 UTC

Two members of Congress want to invite Latin American countries to join Canada's trade agreement with the United States and Mexico.

Dye & Durham suffers record drop on Canadian property struggles

2023-09-14 19:09:13 UTC

Dye & Durham Ltd.’s share price is the latest victim of the slowdown in Canada’s struggling property market, as the real estate software maker’s stock sustained its biggest one-day plunge ever on Thursday.

Many Calgary residents 'squeezed out' of the housing market: Professor

2023-09-14 18:32:47 UTC

A professor of planning says both renters and buyers in Calgary are feeling the impact of higher prices – and she says the city should adopt recommendations from its housing affordability task force to tackle the issue.

Wholesale sales excluding petroleum products and oilseeds and grains up in July

2023-09-14 17:11:12 UTC

Statistics Canada says wholesale sales excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, grew 0.2 per cent to $81.3 billion in July.

Oil rally gathers pace as U.S. benchmark WTI hits US$90 a barrel

2023-09-14 16:59:08 UTC

Benchmark US crude oil hit US$90 a barrel for the first time since November, the latest milestone in a march higher that's been led by output cuts from Saudi Arabia and Russia as well as record global consumption.

Twitter mass layoff severance fight heads to settlement talks

2023-09-14 15:24:48 UTC

Elon Musk’s X Corp. has agreed to try to settle claims by thousands of former Twitter employees who say they were cheated of severance pay, according to a memo by a lawyer for the workers seen by Bloomberg News.

​The Daily Chase: Laurentian review wraps; Fuel boosts Empire earnings

2023-09-14 13:49:19 UTC

Here are five things you need to know this morning.

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