November 28th, 2021

Business

Labour market uncertainty poses challenge to inflation tracking, BoC deputy says

By Jordan Press, The Canadian Press on November 16th, 2021

OTTAWA – A senior Bank of Canada official says the pandemic has made assessing job market conditions and inflationary pressures more difficult, creating further uncertainty around when inflation will return to its two per cent target. The country has recovered the three million jobs lost at the outset of the pandemic, but pockets of weakness ... Read More »

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Defying inflation, Americans ramped up spending last month

By Christopher Rugaber And Anne D'innocenzio, The Associated Press on November 16th, 2021

WASHINGTON (AP) – Many Americans have taken a darker view of the economy as inflation has worsened. Yet so far, they appear no less willing to spend freely at retailers – an encouraging sign for the crucial holiday shopping season. Buoyed by solid hiring, healthy pay gains and substantial savings stemming in part from government ... Read More »

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Experts say B.C. rainstorms highlight increasing flood risks and need to prepare

By The Canadian Press on November 16th, 2021

Insurance experts say record rainfall in southern British Columbia is highlighting the increasing risks of flood damage and the need for homeowners to prepare. Blair Feltmate, head of the Intact Centre on Climate Adaptation at the University of Waterloo, says that risks of flooding aren’t limited to people living next to water and that everyone ... Read More »

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New ultra-low-cost carrier, Lynx Air, will launch from Calgary

By The Canadian Press on November 16th, 2021

CALGARY – Canada is getting a new airline. Startup carrier Lynx Air says it will launch a new service from its headquarters in Calgary. Lynx Air will be an ultra-low-cost carrier, offering stripped-down fares to budget-conscious travellers. The airline has named Merren McArthur as chief executive. McArthur has served as chief executive of Tigerair Australia, ... Read More »

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Bank of Canada has role to play in helping labour market heal, deputy says

By The Canadian Press on November 16th, 2021

OTTAWA – A senior Bank of Canada official says the pandemic has made assessing job market conditions and inflationary pressures more difficult, creating further uncertainty around when inflation will return to its two per cent target. The country has recovered the three million jobs lost at the outset of the pandemic, but pockets of weakness ... Read More »

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Heavy rains, mudslides cause railway service disruptions in B.C.

By The Canadian Press on November 16th, 2021

Canada’s two largest railways are facing service disruptions following mudslides that have wiped out tracks in British Columbia and caused at least one partial derailment. Canadian Pacific Railway Ltd. spokesman Salem Woodrow says the company is experiencing a track outage north of Hope, B.C., that is affecting rail service in the region. Montreal-based Canadian National ... Read More »

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New Brunswick fiscal update projects $89.1-million surplus due to higher revenues

By The Canadian Press on November 16th, 2021

FREDERICTON – New Brunswick’s government is projecting that the fiscal 2021-22 year will end in a $89.1-million surplus instead of the $244.8-million deficit that had been estimated in the last budget. Finance Minister Ernie Steeves released the province’s second-quarter fiscal update today, crediting the positive outlook to both tax revenues and federal transfers that were ... Read More »

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Tech sector helps lead S&P/TSX composite higher, U.S. stock markets also up

By The Canadian Press on November 16th, 2021

TORONTO – Canada’s main stock index was in record territory in late-morning trading, helped higher by gains in the technology sector, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 88.56 points at 21,771.64. In New York, the Dow Jones industrial average was up 213.27 points at 36,300.72. The S&P 500 ... Read More »

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Joly, Freeland, Ng and Mendicino to take part in summit with Trudeau in D.C.

By The Canadian Press on November 16th, 2021

WASHINGTON – Canada’s new foreign affairs minister will be among the federal delegation joining Prime Minister Justin Trudeau for the North American Leaders’ Summit. Mélanie Joly is in Mexico City for meetings with counterpart Marcelo Ebrard before travelling to Washington, D.C., for the so-called Three Amigos summit Thursday. Officials say Finance Minister Chrystia Freeland, International ... Read More »

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Avoiding your finances? Here’s how to regain control and take the fear out of debt

By Leah Golob, The Canadian Press on November 16th, 2021

TORONTO – Jenna Young began avoiding her finances after graduating with student debt from her law degree in 2015. The 30-year-old executive assistant in Halifax left the legal field for better work-life balance, but wasn’t able to pay back her student loans as easily as she expected because she wasn’t making a lawyer’s salary. While ... Read More »

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Canada Mortgage and Housing Corp. says pace of housing starts slowed in October

By The Canadian Press on November 16th, 2021

OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in October fell compared with September. The national housing agency says the seasonally adjusted annual rate of housing starts was 236,554 last month, down from 249,922 in September. The annual pace of urban starts fell 3.7 per cent to 214,797 as ... Read More »

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