EconomyLoop
where regional business news becomes global to everyone

Bowring And Bombay Seek Creditor Protection Amid Millions In Debt

TORONTO _ Bowring & Co. Inc. and Bombay & Co. Inc. are seeking creditor protection as they grapple with more than $50 million in debt.Legal filings say the housewares and home furnishings retailers collectively owe millions to landlords, banks, deliv... read more

 Huffington Post9 days ago

     
Foreign Buyers Tax May Become Reality In Montreal As Housing Market Beats Toronto, Vancouver

Do we really want to be like Toronto?That's the question on the minds of many Montrealers these days when they take a look at what's going in their city's housing market, one that Canada Mortgage and Housing Corp. (CMHC) said this summer is close to ... read more

 Huffington Post10 days ago
Canadian Home Sales Will Fall Over Next 2 Years, CMHC Forecasts

Canada Mortgage and ...<a href= read more

 Huffington Post10 days ago
CSIS Says Trans Mountain Pipeline Purchase Seen As 'Betrayal' By Opponents

OTTAWA _ Canada's spy agency says many members of the environmental and Indigenous communities see the federal purchase of the Trans Mountain pipeline as a betrayal, and suggests that could intensify opposition to expanding the project.A Canadian Sec... read more

 Huffington Post10 days ago
More Than 20 Rona Stores Across Canada Are Closing

BOUCHERVILLE, Que. _ Lowe's Companies Inc. says it plans to close 31 Canadian stores and other locations as part of a plan to focus on its most profitable operations.The closures include 27 mostly Rona stores in Canada including nine in Ontario, nine... read more

 Huffington Post11 days ago
WestJet Passenger Stephen Bennett Kicked Off Flight For Falling Asleep

A WestJet passenger from Burnaby, B.C. is now planning legal action after he was forced off a flight to Cuba earlier this month for falling asleep while the plane was still on the ground.Stephen Bennett took a sleeping pill once he got on the aircraf... read more

 Huffington Post12 days ago
Quebec Artists Blast Netflix For Neglecting French-Language Productions

MONTREAL _ On a recent episode of Quebec's popular TV talk show, "Tout le monde en parle," co-host Dany Turcotte asked Prime Minister Justin Trudeau why he hadn't heard of any significant Netflix investment in Quebec since a major announcement last y... read more

 Huffington Post12 days ago
Drake Accuses Parq Vancouver Casino Of Racial Profiling

VANCOUVER _ A Vancouver casino says it "categorically" stands against racism after Drake accused it of "profiling" him.In a now-expired Instagram story, the Toronto rapper called Parq Vancouver "the worst run business" he has ever witnessed.He says t... read more

 Huffington Post12 days ago
U.S. Vs Canadian Real Estate: Who Won And Who Lost?

This fall marks the tenth anniversary of the collapse of investment bank Lehman Brothers, and the start of the global financial crisis that roiled the world for years to come.That crisis was precipitated in large part by the collapse of the U.S. mort... read more

 Huffington Post12 days ago
Surprisingly Few Canadian Companies Give A Damn About Gender Equality: Report

Fewer than 40 per cent of companies in Canada and the U.S. look at pay by gender, making it difficult to make progress on advancing women to leadership and management roles, according to a report from the Canada-U.S. group created by Prime Minister J... read more

 Huffington Post12 days ago
Canadians Believe The Average Salary They Need For 'Comfort' Is $250,000

Would a quarter of $1 million a year solve all of your financial woes?Almost 1,500 Canadians were asked how much pre-tax money would make them feel "financially comfortable" in a survey by financial services firm Edward Jones. The verdict came in at ... read more

 Huffington Post13 days ago
Jean Machine Closing All Stores By End Of February

VANCOUVER _ Canadian apparel retailer Jean Machine Clothing Inc. will close down all of its stores by the end of winter because of losses.Jean Machine's president Lisa Hryciuk announced in a letter posted on the company's social media channels that 2... read more

 Huffington Post14 days ago
Ontario PCs' Attacks On Workers Predate Ford

A casual observer might think that Ontario Premier Doug Ford is singlehandedly reversing labour law updates made last year by the previous Liberal government.With headlines saying, "Doug Ford is Gutting Labour Laws" and "Doug Ford steps up attacks" a... read more

 Huffington Post14 days ago
Canada's Unemployment Rate Dips To 5.8% As Job Growth Treads Water, Wages Fizzle

OTTAWA _ Canada's unemployment rate edged back down to its four-decade low of 5.8 per cent last month as job growth was essentially flat and fewer people searched for work, Statistics Canada said Friday.The latest labour force survey says the country... read more

 Huffington Post14 days ago
Vancouver Luxury Housing Market Drops From World’s Hottest To Dead Last

If there's anything Vancouver's property market isn't, it's average. In fact, it's looking increasingly like a land of extremes.A new report from global realty firm Knight Frank ranks the city's luxury property market as the weakest among major citie... read more

 Huffington Post15 days ago
Google Canada Employees Stage Walkout Over Sexual Misconduct Allegations

TORONTO _ Google employees left their offices in Toronto and Montreal as part of an international walkout protesting the company's treatment of women and alleged handling of sexual misconduct allegations.About two dozen workers left the tech giant's ... read more

 Huffington Post15 days ago
Latest Interest Rate Hike Has A Silver Lining For 1st-Time Homebuyers

With the news last week that the Bank of Canada increased its prime rate for the third time this year by 0.25 points to 1.75, many homeowners are wondering how this will impact house prices. Will this just slow down price growth, or cause a significa... read more

 Huffington Post15 days ago
Ditching Your Real Estate Agent May Be Harder Than You Think

TORONTO _ They say breaking up is hard to do _ and that most often can be the case when it comes to leaving your realtor.Although not overly common, there may come a time when you want to ditch the real estate agent you have entrusted to help you sel... read more

 Huffington Post15 days ago
Canadian Oil Production Will Grow For Decades, Even As Renewables Take Hold: NEB

CALGARY _ The National Energy Board says renewable sources of electricity in Canada will grow over the next 20 years but so will Canadian oil and natural gas production.In a new report, the national regulator says Canadians will learn to use less ene... read more

 Huffington Post15 days ago
Federal Liberals Seemingly Goading Ontario PCs Over Workers’ Rights

OTTAWA _ The Trudeau government plans to give about 900,000 Canadian workers more paid personal-leave days, in a proposal that seems designed to goad the Ontario government into an argument over workers' rights in the modern economy.The change is par... read more

 Huffington Post15 days ago
Younger Canadians Not Interested In Raising Families In Condos: Study

Canada's young families are giving up on the dream of owning a single-family home, but it's not out of a desire to live an urban high-rise life _ the cost has simply become too prohibitive.That's the key takeaway from a new study carried out by Sothe... read more

 Huffington Post15 days ago
Greyhound Officially Pulls Out Of Western Canada

... read more

 Huffington Post16 days ago
Canada Has A Historically Large Labour Shortage, But Job-Seekers Are Still Struggling

A record-high share of Canada's small and mid-sized businesses are reporting they are being held back because of a skilled-labour shortage, but that doesn't seem to be helping Canadians find work any faster.The Business Barometer from the Canadian Fe... read more

 Huffington Post16 days ago
Privacy Watchdog Probing Statistics Canada's Request For Banking Data Of 500K Canadians

OTTAWA _ Federal privacy commissioner Daniel Therrien says he is investigating Statistics Canada's request for private banking information on 500,000 Canadians.Therrien said Wednesday that numerous people have complained to his office about the agenc... read more

 Huffington Post16 days ago
Ontario's Cap-And-Trade Program Is Officially Dead

TORONTO _ The Ontario government has passed legislation to repeal the province's cap-and-trade system, putting the final nail in the coffin of a program Premier Doug Ford has long promised to scrap.The bill was introduced in July but the final vote w... read more

 Huffington Post16 days ago
6.4 Million Canadians Restrict How Much Meat They Eat: Study

Most Canadians consider meat to be part of a healthy diet, but a new study shows millions are eating less or none of it.In the study from Dalhousie University, just under half of respondents said they eat meat daily, and just over half (51.3 per cent... read more

 Huffington Post16 days ago
3 Canadian Schools Made The Top 100 U.S. News Best Global Universities List

Canada's overall highest-ranking university is among the 20 best in the world, according to this year's 2019 U.S. News University Global Ranking list. University of Toronto came in at number 20 on the list of the top 1250 universities worldwide, the ... read more

 Huffington Post17 days ago
Jeff Bezos Loses US$20 Billion In 2 Days, And Probably Doesn't Care

Imagine being so rich you can lose US$37 billion (C$48.6 billion) and not even feel it.That's the boat Amazon founder and CEO Jeff Bezos is in, after Amazon stocks tanked over the past several days following unimpressive earnings at the world's large... read more

 Huffington Post17 days ago
I Made Mistakes When I Started Freelancing So You Don't Have To

The gig economy in Canada is growing. In 2017 studies estimated that at around 20 to 30 per cent of the workforce was made up of include freelancers, independent contractors and consultants. That same report also states that 85 per cent of companies ... read more

 Huffington Post18 days ago
Bank Of Canada Interest Rate Hikes Will Cost Canadian Households $2,500 A Year: Report

The Bank of Canada's interest rate hikes over the past 15 months will add more than $2,500 in costs to the average Canadian household, according to a new estimate _ though it may take years for some households to feel the full effect."Over the past 1... read more

 Huffington Post18 days ago
Simons Raises Minimum Wage To $16 In Quebec

In the face of a provincial labour shortage, a Quebec retail giant has taken the lead on boosting the minimum wage it will offer its employees.Wages for entry-level employees for La Maison Simons (widely known as Simons) will start at $16 an hour in ... read more

 Huffington Post18 days ago
Leaders In Canada's Cannabis Industry Say It's A Great Time For Women To Secure Jobs

With marijuana now legal in Canada, many people are making their way into the cannabis industry, bringing their skills and training into the budding sector.And while black market weed has typically been a male-dominated industry, female leaders in le... read more

 Huffington Post19 days ago
Quebec Pot Shops To Close 3 Days A Week To Help Manage Shortages

MONTREAL _ Quebec Cannabis Corp. says it will close its 12 stores between Monday and Wednesday until product shortages have stabilized.The provincial cannabis retailer says its new operating schedule will start Monday and continue indefinitely until ... read more

 Huffington Post20 days ago
Janes Chicken Burgers Recalled Due To Salmonella Risk

OTTAWA _ The Canadian Food Inspection Agency (CFIA) says Sofina Foods Inc. is recalling Janes brand Pub Style Chicken Burgers from the marketplace due to possible Salmonella contamination.The agency says the uncooked breaded chicken burgers were sold... read more

 Huffington Post20 days ago
Government Plans To Spend $1.5B To Help Small Business Adjust To Carbon Tax

OTTAWA _ The federal government expects to spend nearly $1.5 billion helping small and medium-sized businesses adapt to carbon pricing over the next five years _ but it will not exempt them from the new carbon tax regime.Environment Minister Catherin... read more

 Huffington Post20 days ago
Prospective 1st-Time Homebuyers Are Even More Screwed Than Before

The Bank of Canada rate hike is expected to take a bite out of Canadian mortgage-holders' wallets, but for those looking to buy a home for the first time, it puts ownership even further out of reach. As widely predicted, the central bank announced We... read more

 Huffington Post21 days ago
How Much Pot Can I Fly With And Other Questions About Travelling With Weed

... read more

 Huffington Post21 days ago
Mexico Won’t Sign USMCA Unless U.S. Removes Steel, Aluminum Tariffs: Minister

OTTAWA _ Mexico won't sign the new North American free trade agreement unless the U.S. removes steel and aluminum tariffs on its two continental neighbours, says a senior Mexican official.Juan Carlos Baker, Mexico's deputy commerce minister, said Fri... read more

 Huffington Post21 days ago
Rare Sneakers A Bigger Goldmine Than Actual Gold: Study

The sneakerheads are right: their shoe collections can be a great investment.A study from UK coupon code site MyVoucherCodes, rounded up the world's 50 most valuable pairs of sneakers, each with a higher return on investment than gold. James Brockban... read more

 Huffington Post21 days ago
Employers' Legal Marijuana Policies Should Support, Not Punish Workers

What workers do on the job is their employer's business, obviously, but what they do on their own time is, for the most part, no one's business but their own and their family's.As Canada eases its way into the world of legalized cannabis, this must b... read more

 Huffington Post21 days ago
Canada Ratifies CPTPP, Giving It A Head Start On Carving Out Market Share: Experts

OTTAWA _ A bill to enact a new trade pact with Pacific Rim countries has passed the legislative finish line, making Canada one of the first countries to ratify the 11-country deal.Approving the agreement, known as the Comprehensive and Progressive Ag... read more

 Huffington Post21 days ago
Canadian Companies Mum On Possibly Attending Saudi Future Investment Initiative

TORONTO _ Several Canadian companies have kept silent on whether they're attending a major Saudi Arabia investment conference after the event was overshadowed by the apparent murder of Saudi journalist Jamal Khashoggi.This week's Future Investment In... read more

 Huffington Post22 days ago
Canada Post Strike Moves To New Cities, Reopening Canada's Biggest Mail Sorting Plans

OTTAWA _ Canada Post employees are holding rotating strikes in Sherbrooke, Que., Calgary and Kelowna, B.C., ending two days of work stoppage in the Greater Toronto Area that forced the closure of the Crown Corporation's largest sorting plants.The Can... read more

 Huffington Post22 days ago
Marijuana Legalization Happened A Week Ago. Here's How Canada's Doing Now

... read more

 Huffington Post23 days ago
MEC’s CEO David Labistour Opens Up About Diversity In Candid Post

The CEO of Vancouver-based Mountain Equipment Co-op (MEC) is acknowledging the company's historic exclusion of people of colour from its campaigns, website and catalogue, and his intention to address whitewashing in Canada's outdoor industry as a who... read more

 Huffington Post23 days ago
Bank Of Canada Hikes Key Interest Rate As Economy Stays Strong

OTTAWA _ The Bank of Canada hiked its trend-setting interest rate Wednesday as the resilient economy hums along and a big source of trade uncertainty is finally out of the way.The central bank delivered a quarter-point rate increase for the fifth tim... read more

 Huffington Post23 days ago
Canada Post Strikes Continue In The Toronto Area, Causing Shipping Delays Across The Country

TORONTO _ Canada Post employees are holding a second day of rotating strikes at large mail sorting plants in the Toronto-area today.The Canadian Union of Postal Workers says members are back at two of Canada's busiest postal plants, which forced dela... read more

 Huffington Post23 days ago
Trudeau Suggests Trump’s Behaviour Is Why Canada Needs Chapter 19 In NAFTA

Prime Minister Justin Trudeau says the U.S. president's aversion to following rules is a key reason Canada can't budge on a dispute settlement provision in a revamped North American Free Trade Agreement.NAFTA's Chapter 19 allows companies who feel wr... read more

 Huffington Post72 days ago
NAFTA Talks: Canada, U.S. Fight It Out Over Super Bowl Ads

WASHINGTON _ While Donald Trump has waged a public war with defiant National Football League players, Canada's decision to allow the broadcast of glitzy American Super Bowl commercials has quietly festered at the NAFTA talks.The decision by Canada's ... read more

 Huffington Post72 days ago
Trans Mountain Expansion Would Be 'Dead' If Feds Didn't Buy Pipeline: Trudeau

OTTAWA _ The Trans Mountain pipeline expansion project would be "dead" if it were still in private hands,, Prime Minister Justin Trudeau said Wednesday.The prime minister made the remark during an Edmonton radio interview on 630 CHED ahead of a meeti... read more

 Huffington Post72 days ago