Business News

Toronto police at moving company warehouse

Movers arrested after investigation; Air Canada cancels dozens of daily flights: CBC's Marketplace cheat sheet

Andrew Sampson | News/Business | Sun, 3 Jul 2022 09:00:00 EDT

CBC Marketplace rounds up the consumer and health news you need from the week. read more

Nicola garden

Sales tax on seeds works against lower carbon footprint, expert and home growers say

Evan Dyer | News/Politics | Sun, 3 Jul 2022 04:00:00 EDT

Canada’s tax regime, which does not levy sales taxes on food no matter how far it has travelled before landing on Canadian store shelves, does impose sales taxes on seeds that people use to grow food in their own backyards. Some home growers say that compromises the federal government’s efforts to lower the country’s carbon footprint. read more

Google-Abortion-Privacy

Google says it will erase U.S. user data about trips to abortion clinics

The Associated Press | News/World | Sat, 2 Jul 2022 15:45:52 EDT

Google will automatically purge information about users who visit abortion clinics or other places that could trigger legal problems now that the U.S. Supreme Court has opened the door for states to ban the termination of pregnancies. read more

General Motors Results

95,000 GM vehicles unfinished in storage due to chip shortage

The Associated Press | News/Business | Fri, 1 Jul 2022 13:59:06 EDT

The global shortage of computer chips and other parts has forced General Motors (GMC) to build 95,000 vehicles without certain components during the second quarter. read more

Oilsands 50 Now 20170622

Canada's economy grew in April, but May contraction expected

The Canadian Press | News/Business | Thu, 30 Jun 2022 09:15:29 EDT

The Canadian economy expanded by 0.3 per cent in April, Statistics Canada said Thursday, but warned of indications for a contraction in May. read more

USA-ECONOMY/

U.S. inflation may have peaked as consumer spending slows in May

Reuters | News/Business | Thu, 30 Jun 2022 13:02:54 EDT

U.S. consumer spending rose less than expected in May as motor vehicles remained scarce, while higher prices forced cutbacks on purchases of other goods, another sign that the rebound in economic growth early in the second quarter was losing steam. read more

Unionized Starbucks workers in Victoria, BC

Do unions at Starbucks mean the labour movement is picking up steam?

James Dunne | News/Business | Thu, 30 Jun 2022 04:00:00 EDT

A growing effort to unionize Starbucks cafes in the U.S. and Canada as well as Amazon warehouses, Apple stores, and Indigo book shops has union leaders and experts wondering if this the start of a shift in labour movement after decades of decline in the private sector. read more

Air Canada flight taxies on the tarmac in Montreal in May 2022

Air Canada to cancel dozens of daily flights this summer

CBC News | News/Business | Wed, 29 Jun 2022 20:37:48 EDT

Air Canada will cut dozens of daily flights this summer as the airline grapples with a series of challenges amid soaring demand for travel. read more

USA-TIKTOK/BYTEDANCE

U.S. communications regulator wants TikTok removed from app stores over spying concerns

Pete Evans | News/Business | Wed, 29 Jun 2022 11:19:48 EDT

A commissioner with the U.S. communications regulator is asking Apple and Google to consider banning TikTok from their app stores over data security concerns related to the Chinese-owned company. read more

MTL Casino Strike 20220521

Summer of labour unrest expected as inflation soars and contracts run out

Laura McQuillan | News/Business | Wed, 29 Jun 2022 17:16:56 EDT

Canada could face a summer of strikes and other labour disruptions as workers demand cost-of-living increases and better conditions than those seen throughout the past two years of the pandemic, say union officials and other observers.  read more

Mark Carney

Risk of recession high but Alberta could avoid worst impacts, says Mark Carney

Joel Dryden | News/Canada/Calgary | Wed, 29 Jun 2022 07:00:00 EDT

The United States is facing an "uncomfortably high" risk of falling into a recession, says Mark Carney, former governor of the Bank of Canada, but Alberta could be insulated from the worst impacts if that happens. read more

Airbnb

Airbnb makes ban on party houses permanent

CBC News | News/Business | Wed, 29 Jun 2022 10:38:05 EDT

Airbnb is making permanent its ban on parties at homes listed on the site for short-term rentals. read more

UK EY

Accounting firm EY to pay $100M US fine after auditors caught cheating on ethics exams

Reuters | News/Business | Wed, 29 Jun 2022 09:24:57 EDT

Big Four accounting firm Ernst & Young will pay $100 million to settle U.S. Securities and Exchange Commission charges that its auditors cheated on certified public accounting exams and that it misled the agency's investigators. read more

Housing real estate mortgage sign

Bank regulator beefs up rules for some types of home loans

CBC News | News/Business | Tue, 28 Jun 2022 13:25:47 EDT

The Office of the Superintendent of Financial Institutions is implementing new guidelines for certain types of real estate loans, including shared equity mortgages, reverse mortgages and conventional mortgages that are paired with home equity lines of credit. read more

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Tim Hortons latest company to pause Hockey Canada sponsorship over sex assault allegation

Joshua Clipperton | Sports/Hockey | Tue, 28 Jun 2022 10:18:26 EDT

Some major corporations are putting their Hockey Canada sponsorships on ice. Scotiabank said Tuesday the pause will last until it's confident the right steps are taken to improve the culture within the sport. Tim Hortons said Wednesday it is "suspending support" while awaiting details. read more

Pearson baggage delays

Missing baggage adds to chaos at Canadian airports

Sophia Harris | News/Business | Tue, 28 Jun 2022 04:00:00 EDT

As airlines and the federal government race to address long lines and delays at airports, some travellers are pointing out another major problem — missing luggage. read more

Kid in a Toronto playground (unidentifiable but dad's permission obtained)

We're still waiting for this wage price spiral central bankers fear could send inflation soaring

Don Pittis | News/Business | Tue, 28 Jun 2022 04:00:00 EDT

Like a nuclear chain reaction, economic theory warns us that rising wages can reinforce rising prices, pushing wages even higher, all in an endless cycle. Is it just around the corner? Or are things different this time? read more

Russian 1000 ruble currency banknotes

Did Russia just default on its foreign debt or not? Here's what we know

The Associated Press | News/Business | Mon, 27 Jun 2022 10:43:56 EDT

Russia is poised to default on its foreign debt for the first time since the Bolshevik Revolution more than a century ago, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. read more

Amy McQuaid-England working at home with her children in the same room

Parents, caregivers face new juggling act as employers evaluate work-from-home policies

Geoff Nixon | News/Business | Mon, 27 Jun 2022 04:00:00 EDT

The ability to keep a close eye on loved ones has been important to many people who have been juggling their family and employment responsibilities in the same space over the course of the pandemic. read more

gender x airlines porter

Non-binary passengers call out airlines for not offering a 3rd gender option when booking flights

Sophia Harris | News/Business | Fri, 24 Jun 2022 16:51:39 EDT

Non-binary Canadians are upset many Canadian airlines still don't offer passengers a gender-neutral "X" option when booking flights online. Instead, they must choose male or female. The airlines are promising change. read more

Canadians are in a spending mood heading into summer. What that means for inflation

Canadians are in a spending mood heading into summer. What that means for inflation

Consumer/Economy/Money | Sat, 02 Jul 2022 11:00:17 +0000

Are you absorbing sticker shocker to indulge this summer? You're not alone. We asked economists what impact Canadian spending could have on inflation trends. read more

Montrealers face challenging moving day amid housing crisis

Montrealers face challenging moving day amid housing crisis

Canada/Economy/Money | Fri, 01 Jul 2022 21:56:26 +0000

This year, stress levels are through the roof as people are moving amid a province-wide housing crisis. Housing advocates say skyrocketing rents are now a widespread phenomenon. read more

Why affordable worker housing is the latest hurdle for Canada’s tourist town hotspots

Why affordable worker housing is the latest hurdle for Canada’s tourist town hotspots

Canada/Consumer/Economy | Fri, 01 Jul 2022 15:15:25 +0000

Businesses in tourist hotspots far from big cities are feeling the pinch of affordable housing, as smaller communities struggle to lure workers amid labour crunch and rising rents. read more

Monday Scaries or Magic Mondays? Tight labour market calls for 4-day workweeks

Monday Scaries or Magic Mondays? Tight labour market calls for 4-day workweeks

Canada/Economy/Money | Fri, 01 Jul 2022 11:00:15 +0000

Canada’s tight labour market has created a war for talent. Proponents of the four-day workweek say it’s an important way to retain and attract workers. read more

Air Canada stock drops after carrier cuts summer schedule

Air Canada stock drops after carrier cuts summer schedule

Canada/Money/World | Thu, 30 Jun 2022 15:47:42 +0000

Air Canada's stock fell seven per cent in early morning trading after the carrier announced major cuts to its summer flight schedule. read more

Searing hot inflation could shift Canada Day BBQs to ‘hotdogs instead of steaks’

Searing hot inflation could shift Canada Day BBQs to ‘hotdogs instead of steaks’

Consumer/Money/Barbecue | Thu, 30 Jun 2022 14:36:20 +0000

If you're having a group of friends and family over for a barbecue this Canada Day long weekend, the costs might be up to 17 per cent more to grill the same food as lsat year. read more

EU hammering out cryptocurrency regulations that could set global standard

EU hammering out cryptocurrency regulations that could set global standard

Economy/Money/Tech | Thu, 30 Jun 2022 12:35:13 +0000

The European Union on Wednesday agreed on new rules subjecting cryptocurrency transfers to the same money-laundering rules as traditional banking transfers. read more

Federal spending does fuel inflation, but it’s worth the hit: Desjardins

Federal spending does fuel inflation, but it’s worth the hit: Desjardins

Economy/Money/Politics | Wed, 29 Jun 2022 19:11:01 +0000

The federal government should not cut spending to tamp down inflation, a new report from Desjardins argues, but economists say there is some action Ottawa could take. read more

Controversy rages over upcoming Newfoundland sugar tax

Controversy rages over upcoming Newfoundland sugar tax

Canada/Economy/Health | Wed, 29 Jun 2022 13:11:12 +0000

In September, Newfoundland and Labrador will become the first province in Canada to introduce a special tax on sugary drinks, raising a projected $9 million in annual revenue. read more

Canada Day parades cancelled in some cities amid financial woes

Canada Day parades cancelled in some cities amid financial woes

Canada/Economy/Money | Wed, 29 Jun 2022 10:36:36 +0000

Several cities say the rising cost of security and insurance, in addition to troubles securing funding, is forcing them to rethink their celebrations. read more

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