Archive For The “CanadaEconomyMoney” Category

Lower food prices offsetting higher gasoline costs for Canadians

By |

The country’s annual inflation rate slowed to an unexpectedly weak 1.6 per cent last month as the continued decline in food prices played a big role in offsetting the higher cost of gasoline, Statistics Canada said Friday.READ MORE: Why this is going to be the most expensive year for gasoline since 2014 Story continues below The…

Read more »

Canadian home sales hit record high in March, with gains in over half of local markets

By |

Canadian home sales hit record high in March, with gains in over half of local markets

The Canadian Real Estate Association says home sales last month hit a record high.The association says home sales over its Multiple Listings Service system increased by 1.1 per cent in March to top the previous monthly record set in April 2016.READ MORE: Did you sell your home in 2016? Let the CRA know or else…Sales were…

Read more »

Canadian housing price trend ‘very similar’ to U.S. just before the crash: National Bank

By |

Canadian housing price trend ‘very similar’ to U.S. just before the crash: National Bank

Over half of urban markets tracked by National Bank of Canada are seeing home prices increase by 10 per cent or more a year.“This record proportion is very similar to that observed in the United States in 2005 at the peak of the market,” chief economist Stefane Marion wrote in a recent research note.READ MORE: Canadians are…

Read more »

Construction of new homes in Canada hits highest level in nearly a decade

By |

Construction of new homes in Canada hits highest level in nearly a decade

The annual pace of housing starts increased more than expected in March and hit their highest level since September 2007.The Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts for March came in at 253,720 units, up from 214,253 in February.READ MORE: CMHC mortgage insurance premiums: Here’s how much costs rose…

Read more »

Canada’s labour market stays strong in March, as factory jobs post biggest gain since 2002

By |

Canada’s labour market stays strong in March, as factory jobs post biggest gain since 2002

Canada’s labour market gained another 19,400 net jobs last month – and the vast majority of the new work was full time.But latest Statistics Canada job survey also shows the bulk of those new positions were in the self-employment category, which can include people working for a family business without pay. The agency says the…

Read more »

Bombardier delays executive pay hikes amid public outcry

By |

Bombardier delays executive pay hikes amid public outcry

MONTREAL – Bombardier further retreated Sunday on a hefty pay increase to six senior executives, announcing they would defer receiving payment on a sizeable chunk until a later time.A statement from company President and CEO Alain Bellemare late Sunday said he has asked the transportation giant’s board of directors to defer more than half of…

Read more »

Canadian economy could outpace U.S. in 2017 — unless America’s protectionism kills that momentum

By |

Canadian economy could outpace U.S. in 2017 — unless America’s protectionism kills that momentum

The Canadian economy posted a third consecutive month of solid growth in January, led by the manufacturing sector.GDP rose by 0.6 per cent in the first month of the year compared to December, Statistics Canada said, a result that beat economists’ expectations of a 0.3 per cent expansion. Growth was widespread across both goods- and service-producing…

Read more »

Stampede chuckwagon auction proceeds up slightly from 2016

By |

Stampede chuckwagon auction proceeds up slightly from 2016

It came right down to the wire but the annual Calgary Stampede chuckwagon canvas auction just edged out the total raised a year ago.Bidders pledged $2.42 million to win the right to advertise on canvas tarps on the 36 chuckwagons that will compete in 10 days of racing in July.Last year’s auction raised just under…

Read more »

Federal budget 2017: What does an 18-month parental leave mean for Canadian employers?

By |

Federal budget 2017: What does an 18-month parental leave mean for Canadian employers?

Canadian employers aren’t thrilled with the Liberals’ plan to extend parental leave and benefits to 18 months. But they aren’t terribly concerned either.The government introduced the changes in its 2017 budget, unveiled yesterday, making good on a longstanding campaign promise. New parents now have the option of taking 18 months of leave at a benefits rate…

Read more »

U.S. sues Vancouver dual citizen for over $1M for not reporting accounts

By |

U.S. sues Vancouver dual citizen for over $1M for not reporting accounts

A U.S.-Canadian dual citizen living in Vancouver is being sued for over US$860,000 ($1.1 million) by U.S. tax authorities for failing to report bank accounts to them.U.S. citizens (including dual citizens) with signing authority over non-American bank accounts are required to report them, along with the highest amount in the account during the year, on…

Read more »