Business News

Planes on tarmac in foreground, Westjet plane taking off. Airport building in background.

WestJet suspends flights between Toronto and Montreal until next April

News/Business | Wed, 04 Oct 2023 11:03:49 EDT

WestJet is temporarily suspending flights between Canada's two biggest cities this winter, but plans to resume service between Toronto and Montreal next spring. read more

Kaiser Permanente workers walk the picket line.

Year of strikes continues as 75,000 Kaiser Permanente workers in U.S. walk off the job

News/Business | Wed, 04 Oct 2023 08:58:17 EDT

The largest ever strike in the U.S. health care sector is set to start on Wednesday as 75,000 workers at Kaiser Permanente in a handful of states walk off the job demanding better wages. read more

A GO Transit train at Union Station in Toronto.

CN Rail's network restored after failure halted Toronto-area commute

News/Business | Tue, 03 Oct 2023 15:41:15 EDT

Tens of thousands of commuters in Ontario who use GO Transit faced cancellations or long delays Tuesday because of CN Rail's "network-wide system failure," which the company said was later restored. read more

A woman sticks a price tag on a display of eggs

Constant price hikes are making inflation worse, Bank of Canada deputy says in speech

News/Business | Tue, 03 Oct 2023 14:53:43 EDT

Bank of Canada deputy governor Nicolas Vincent says businesses raising their prices more frequently than they did before the pandemic is contributing to higher-than-expected inflation. read more

Two male figures walk past a TSX sign in downtown Toronto

TSX slumps to lowest level in more than a year as bond market flashes warning sign of recession

News/Business | Tue, 03 Oct 2023 10:24:07 EDT

The Toronto Stock Exchange's main stock index has given up all of its gains for 2023, as investors head for the exits as the realization that high interest rates are going to stick around settles in. read more

Hand holding a TV remote while watching shows on a streaming service on TV.

CRTC registration for podcasts and streaming companies draws criticism

News/Business | Mon, 02 Oct 2023 16:14:12 EDT

Canada's broadcasting regulator is obligating online streamers and podcast companies to provide registration information to them. But the new requirements are also inviting speculation that heavier regulation of content from online streamers and podcast companies is coming. read more

Sam Bankman Fried looks at the camera while being ushered out of court.

Fraud trial for CEO of collapsed crypto exchange FTX set to begin on Tuesday

News/Business | Mon, 02 Oct 2023 12:05:29 EDT

The trial of Sam Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, is set to begin in New York City this week. And while testimony is likely to veer into complex and murky topics, prosecutors are expected to try to boil their case down into simple terms for the jury: he took billions from customers and used it in ways he wasn't supposed to. read more

Commuters are photographed on their phones at Yonge Station in Toronto on Aug. 23, 2023.

Rogers expands TTC subway wireless network access to customers using other carriers

News/Canada/Toronto | Mon, 02 Oct 2023 10:24:25 EDT

Rogers Communications Inc. says customers of all of the major Canadian wireless carriers can now connect to its 5G wireless network in the busiest sections of the Toronto subway system. read more

A sign on a Laurentian Bank branch is shown

Laurentian Bank CEO Rania Llewellyn resigns in wake of IT outage

News/Business | Mon, 02 Oct 2023 07:36:48 EDT

Laurentian Bank says Eric Provost has been appointed president and chief executive, following a computer outage at the bank last week. read more

People stand around a robot and laughing as it cracks a joke, during an AI conference.

Canada's voluntary AI code of conduct is coming — not everyone is enthused

News/Business | Sun, 01 Oct 2023 04:00:00 EDT

A new code of conduct is set to govern how AI is developed in Canada. But it's voluntary, and despite immediate support from big players in the business, there are also concerns it could stifle innovation and the ability to compete with companies based outside of Canada. read more

Greg Gerrits says he was hoping to start processing some of the surplus vegetables from his farm, but the regulatory process has taken years

N.S. farmers want to process surplus vegetables. So why is this production line idle?

News/Canada/Nova Scotia | Sun, 01 Oct 2023 05:00:00 EDT

Farmers say a decline in local food processing limits options for growers and increases food waste. But some are trying to bring processing capacity back to Nova Scotia. read more

Prime Minister Justin Trudeau at a lectern

Canada is pouring billions of dollars into the electric vehicle industry. Will it pay off?

News/Climate | Sat, 30 Sep 2023 04:00:00 EDT

This week, Quebec and Ottawa committed $2.7 billion toward an electric vehicle battery factory near Montreal. Such projects have faced questions, given the amount of public money involved. read more

A picketer holds a

Strikes at 2 more U.S. auto factories to start Friday as UAW ratchets up pressure

News/Business | Fri, 29 Sep 2023 11:56:22 EDT

The United Auto Workers union is expanding its strike against U.S. automakers to two new plants, as 7,000 workers at a Ford plant in Chicago and a General Motors assembly factory near Lansing, Mich., will walk off the job at midday on Friday. read more

Planes on tarmac in foreground, Westjet plane taking off. Airport building in background.

Airlines claim passenger safety at risk under new passenger rights rules

News/Canada/Montreal | Fri, 29 Sep 2023 15:07:26 EDT

In submissions and meetings, industry groups warned Canada's transport regulator that sweeping reforms announced earlier this year will put travellers' safety at risk and drain carriers of cash after a financially devastating COVID-19 pandemic. read more

A worker welds at a Volkswagen owned facility in Quebec.

Canada's economy was flat in July, new GDP numbers from Statistics Canada show

News/Business | Fri, 29 Sep 2023 08:40:59 EDT

Canada's gross domestic product was essentially unchanged in July, as the service sector expanded slightly while goods-producing industries shrank. read more

Pilots stand outside of Toronto Pearson airport holding signs that read

Air Canada pilots picket at Toronto's Pearson, calling for better wages, working conditions

News/Canada/Toronto | Fri, 29 Sep 2023 09:31:22 EDT

Air Canada pilots are set to demonstrate at Toronto's Pearson airport Friday, calling for better wages and working conditions as talks with the country's biggest carrier continue. read more

A woman changes a sign for a workout class inside a Lululemon store

Lululemon strikes deal with Peloton that will see yoga wear company stop making the Mirror

News/Business | Thu, 28 Sep 2023 09:30:30 EDT

Yoga wear giant Lululemon has struck a deal with smart exercise bike company Peloton that will see the two companies stop fighting on each other's turf and instead work together to sell gear, equipment and fitness classes. read more

A bunch of young people sit in front of computers, with the poster of Fortnite in the background.

Fortnite maker Epic Games laying off 16% of staff

News/Business | Thu, 28 Sep 2023 13:17:42 EDT

Epic Games, the maker of the popular video game Fortnite, is laying off about 870 employees, roughly one-sixth of its staff. read more

The 2015 Hyundai Elantra is shown

Hyundai and Kia recalling 603,176 vehicles in Canada due to fire risk

News/Business | Thu, 28 Sep 2023 10:13:18 EDT

Hyundai and Kia are recalling more than 600,000 vehicles in Canada and millions more in the U.S. due to a problem with the anti-lock braking system that can start a fire. read more

A flag blows in front of a building.

Canadians flock to Alberta in record numbers as population booms by 184,400 people

News/Canada/Calgary | Wed, 27 Sep 2023 11:47:48 EDT

Alberta was home to 4.7 million people as of July 1, according to annual population estimates released by Statistics Canada on Wednesday — a little more than four per cent higher than the same time last year. read more

Improved supply drives surge of new car sales in September: DesRosiers

Improved supply drives surge of new car sales in September: DesRosiers

Consumer/Money/Car Sales | Wed, 04 Oct 2023 17:05:13 +0000

The new vehicle market remained hot in September, according to DesRosiers Automotive Consultants Inc., with vehicle sales jumping 19 per cent in the month on an annualized basis. read more

Tim Hortons joins app that reduces restaurant food waste, saves money

Tim Hortons joins app that reduces restaurant food waste, saves money

Consumer/Economy/Environment | Wed, 04 Oct 2023 14:00:14 +0000

An iconic Canadian fast-food restaurant is signing on to Too Good To Go, an app that sells surplus food at a discount in an effort to reduce food waste. read more

Cost, not nutrition, now top concern for growing number of shoppers: report

Cost, not nutrition, now top concern for growing number of shoppers: report

Canada/Consumer/Money | Wed, 04 Oct 2023 10:00:00 +0000

Almost half of Canadians are increasingly focusing on price instead of nutritional value when they go to the grocery store as food inflation remains sticky, new polling shows. read more

Sam Bankman-Fried trial: What charges does he face over FTX’s collapse?

Sam Bankman-Fried trial: What charges does he face over FTX’s collapse?

Money/U.S. News/crypto | Tue, 03 Oct 2023 16:32:37 +0000

Sam Bankman-Fried is set to go on trial on Tuesday on fraud and conspiracy charges related to the collapse of FTX, the now-bankrupt cryptocurrency exchange he founded and led. read more

Thinking about having a kid? Here’s how much Canadians spend to raise one

Thinking about having a kid? Here’s how much Canadians spend to raise one

Canada/Consumer/Economy | Tue, 03 Oct 2023 15:45:54 +0000

According to the data released by Statistics Canada, a middle-income family with two parents and two children spends on average $293,000 on one kid till the age of 17. read more

Companies have been quick to pass higher costs on to customers, BoC finds

Companies have been quick to pass higher costs on to customers, BoC finds

Canada/Economy/Money | Tue, 03 Oct 2023 12:55:30 +0000

Recent research from the central bank shows price increases have mirrored the cost increases businesses have faced, a Bank of Canada official said Tuesday. read more

Laurentian Bank appoints new CEO following computer outage

Laurentian Bank appoints new CEO following computer outage

Canada/Consumer/Economy | Mon, 02 Oct 2023 15:17:10 +0000

Eric Provost replaces Rania Llewellyn in the top job, effective immediately. He was most recently Laurentian's group head of personal and commercial banking. read more

Interest rates expected to stay higher for longer. What that means for your mortgage

Interest rates expected to stay higher for longer. What that means for your mortgage

Canada/Consumer/Economy | Mon, 02 Oct 2023 12:58:52 +0000

Borrowers with fixed rates are expected to see an average payment increase of between 14% and 25% next year compared with early 2022 costs, according to the Bank of Canada read more

‘Reconciliation economy’: Why Indigenous founders need more access to capital

‘Reconciliation economy’: Why Indigenous founders need more access to capital

Canada/Economy/Environment | Mon, 02 Oct 2023 11:00:28 +0000

Indigenous entrepreneurs have faced many historical barriers to accessing capital, which business leaders and founders say is critical to economic independence and reconciliation. read more

WestJet to merge with Sunwing Airlines by October 2024

WestJet to merge with Sunwing Airlines by October 2024

Canada/Consumer/Money | Fri, 29 Sep 2023 21:15:05 +0000

WestJet said Friday it aims to wind down Sunwing Airlines and integrate the low-cost carrier into its mainline business by October of next year. read more

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