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RBC’s former CFO is suing the bank for nearly $50M. Here’s why
The former chief financial officer for Royal Bank of Canada is suing the bank for almost $50 million over claims of wrongful dismissal. Nadine Ahn said in a lawsuit that there is no merit to the...
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Starbucks spices up exec mix, hiring Chipotle head as new CEO
By Dee-ann Durbin The Associated Press Posted August 13, 2024 9:03 am 1 min read Descrease article font size Increase article font size Starbucks, struggling with weak demand and disgruntled...
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‘Me-cession’: If the economy’s not tanking, why does it feel like it is?
Many Canadians today are feeling the pinch and reining in their spending, waiting out harsh economic winds in a pattern of behaviour typical of major recessions and financial crashes in history. The...
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U.S. inflation slows to 3-year low. Can the Fed cut rates now?
Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an...
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Pharmacy sales helped boost Metro earnings in Q3, but profit fell
Descrease article font size Increase article font size Metro Inc. says it earned a third-quarter profit of $296.2 million, down from $346.7 million in the same quarter last year, as its sales rose 3.5...
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Mortgage payments holding up, but other debt arrears rising: StatCan
Canadians are managing to keep up with their mortgage payments in the face of higher interest rates, but a new Statistics Canada analysis suggests there are cracks forming on other kinds of debt. The...
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Canada’s housing market hit ‘pause’ in July despite rate cuts
The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows. The Canadian Real Estate Association (CREA) said...
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Should Canada ditch the mortgage stress test? What experts are saying
Despite recent interest rate cuts, the Canadian real estate market remained slow this summer. This has prompted some in the industry to call for an end to the stress test – a tool that determines...
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Broke and broken: Canada’s public transit in critical funding state, report says
A new analysis warns that Canada’s major cities are struggling to keep their transit systems running, and says public transit is heading for a “downward spiral” unless major new streams of operating...
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Back-to-school shopping stressing you out? How to avoid breaking the bank
With the new school year starting in a few weeks, Canadian parents are feeling “stressed out” about shopping for their kids and looking for ways to cut back their spending, recent surveys show. More...
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Youth flaunt ‘underconsumption core’ on social media. What’s this new trend?
Young people on social media are showing off their 12-year-old water bottles, sweaters from high school with patched holes and dish rags made from cut up old T-shirts. It’s all part of a trend that...
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Inflation data coming amid rate cut bets. Here’s what to know
Many economists are expecting that July inflation data coming this week won’t dissuade the Bank of Canada from another interest rate cut at its next decision in September. Tuesday’s release of July...
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Inflation cools to 2.5% in July, slowest pace in more than 3 years
The annual rate of inflation cooled to 2.5 per cent in July, Statistics Canada said Tuesday, the slowest pace for price growth since March 2021. StatCan said that deceleration in price hikes was...
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Child benefits are rolling out to Canadians. How much will parents get?
The latest child benefits are going out to Canadian parents on Tuesday after a routine increase in monthly payments last month. The Canada Child Benefit (CCB) amounts were increased in July after an...
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From ‘gradual’ to a cut every meeting: Why are interest rate bets changing?
The latest inflation data from July sealed bets from economists that the Bank of Canada is set for its third interest rate cut in a row come September, with growing beliefs that there could be even...
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Homebuying outranks wedding planning for Canadian youth, RBC survey says
Canadian youth are prioritizing their efforts to break into the housing market over other traditional markers of adulthood like getting married, according to a survey released Wednesday from RBC. The...
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TD Bank posts $181M loss amid anti-money laundering probe charge
TD Bank Group reported a loss of $181 million in its latest quarter as it was hit by a charge related to ongoing U.S. investigations into its anti-money laundering program. The big bank said Thursday...
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Quebec, Ontario billionaires join bidding for Via HFR electric train deal
Montreal billionaire André Desmarais has joined one of the consortiums angling to build and jointly operate the federal government’s new high-frequency electric railway. Global News has learned that a...
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Air Canada pilots, ‘resolved and unified,’ vote for strike. What comes next?
Air Canada pilots have voted in favour of a strike if the airline can’t reach a deal with the union, a move that could ground planes and disrupt travel plans for Canadians across the country. The...
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Why you might see Air Canada pilots on picket lines ahead of a possible strike
Air Canada pilots will be taking to the picket lines next week in advance of a possible work stoppage. The Air Line Pilots Association (ALPA) said Friday that pilots from Canada’s largest air carrier...
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