Archive For The “CanadaEconomy” Category

Sears Canada employees trying to stop senior managers from getting bonuses

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Sears Canada employees trying to stop senior managers from getting bonuses

Nearly 14,000 Sears Canada employees are trying to block senior managers and executives from getting $7.6 million in bonuses after thousands of workers were recently laid off without severance. Story continues below The motion was filed by a Toronto law firm on behalf of the employees to Ontario Superior Court. It argues the Sears’ retention payment plan…

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Loonie hits 80 cents U.S., first time in 2 years

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Loonie hits 80 cents U.S., first time in 2 years

For the first time in more than two years, the loonie has reached over 80 cents U.S.The loonie hit the level just after 10 a.m. ET. The Canadian dollar hasn’t climbed above 80 cents U.S. since June 30, 2015. READ MORE: Loonie climbs as Bank of Canada hints at rate hike Earlier Monday, the Canadian dollar…

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Competition soars among Toronto condo renters hunting for a home

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Competition soars among Toronto condo renters hunting for a home

Finding a condominium in downtown Toronto has been a bigger challenge than Jason Cruz first anticipated. Last year the search took him a week and he wound up in a suite for $1,500 a month. Since May, he said he has been searching for a new condo and found prices higher, and competition to get…

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BUSINESS REPORT: Is the stage set for another interest rate hike in October?

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BUSINESS REPORT:  Is the stage set for another interest rate hike in October?

The Bank of Canada increased its trend-setting rate from 0.5 percent to 0.75 percent on Wednesday. This means there’s nothing we can do now except wait and see what the next move will be for the central bank.The increase was the first hike in seven years, but the Bank of Canada may play a waiting game before…

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London bucks provincial trend as housing starts climb

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London bucks provincial trend as housing starts climb

Data from the Canada Mortgage and Housing Corporation shows housing construction in London is hotter than ever. READ MORE: CMHC reports 35% drop in Hamilton housing starts Housing starts are up 10 per cent year over year with a massive increase in single-detached homes in particular, which were up 31 per cent. Story continues below…

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Toronto, Vancouver among top 10 cities to live, but lag in business and tourism: Ipsos global poll

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Toronto, Vancouver among top 10 cities to live, but lag in business and tourism: Ipsos global poll

Toronto and Vancouver are widely regarded as being among the world’s very best cities in which to live, but their reputations as tourist destinations and business hubs still need some work, an Ipsos global poll provided to Global News suggests.For the survey, 18,500 respondents in 26 countries were asked to select three cities, out of a pool…

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Record-setting weekend for Port of Halifax with aircraft carrier, cruise ship visits

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Record-setting weekend for Port of Halifax with aircraft carrier, cruise ship visits

When people looked out at Halifax harbour over the past week, it was hard not to see a ship of some form in the water. With that volume comes an economic boost to businesses. Story continues below Over the long weekend, the USS Dwight D. Eisenhower, the massive container ship Zim Antwerp and the Anthem…

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City says Saint John’s 200 million dollar water project on time, on budget

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City says Saint John’s 200 million dollar water project on time, on budget

Saint John’s Safe Clean Drinking Water Project is about half way to completion.The more than $200 million project is said to be the largest ever municipal infrastructure project in the province’s history.On Thursday, members of the media were given a tour of the water treatment plant site where the most impressive sight so far is…

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Canada’s highest (and lowest) paid regions, by average hourly full-time wage

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Canada’s highest (and lowest) paid regions, by average hourly full-time wage

Even with an economy that’s taken a hit due to low oil prices, communities throughout Alberta continue to dominate the ranks of the highest hourly full-time wages across Canada.That’s according to a wage report for 2016 that was released by Statistics Canada on Thursday.Wage coverage on Globalnews.ca: Province to introduce bills that may freeze public-sector…

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City of Vancouver bucks trend in how to sell wine in grocery stores

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City of Vancouver bucks trend in how to sell wine in grocery stores

If you were hoping to pick up a bottle of B.C. wine on a grocery store shelf in Vancouver any time soon, you are out of luck.The City of Vancouver has voted not to allow a model that is up and running in a number of other communities around the province.Almost a dozen other cities…

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