Annual inflation rate jumped to 3.0% in July, highest reading since 2011

Annual inflation rate jumped to 3.0% in July, highest reading since 2011
OTTAWA — Higher gasoline prices helped push the country’s annual inflation rate in July to its highest reading since September 2011, Statistics Canada said Friday. The federal agency said the consumer price index for July was up 3.0 per cent on a year-over-year basis, up from a 2.5 per cent increase in June. Economists had expected a year-over-year inflation rate of 2.5... Read More

Metro faces supplier pressure, expects higher grocery prices in the future

Metro faces supplier pressure, expects higher grocery prices in the future
Canadian grocery giant Metro Inc. is already facing pressure from suppliers to accept higher prices in light of a recent tariff war with the United States and consumers should expect slightly higher food bills in the future, its CEO said Wednesday. “We’re starting to get demands from some suppliers who are, whose products will be, affected by the new tariffs,” Eric La Fleche said during... Read More

Uncertainty looms over Canada’s cannabis tourism, but ambitions are high

Uncertainty looms over Canada’s cannabis tourism, but ambitions are high
TORONTO — Longtime marijuana advocate Neev Tapiero is ready for the cannabis-driven tourists to come, and he’s not waiting for legalization to roll out the welcome mat. The former dispensary owner anticipates an influx of visitors eager to try Canadian weed once recreational use is legalized Oct. 17, and is already courting foreign travellers through his Toronto-based tour company Canadian Kush... Read More

Morneau launches consultations on safeguards to prevent steel flooding

Morneau launches consultations on safeguards to prevent steel flooding
OTTAWA — The federal government is planning to introduce safeguards to tackle a flood of steel entering the Canadian market due to “exceptional circumstances.” Finance Minister Bill Morneau said the government is embarking on a 15-day consultation to explore safeguards it can use to mitigate potential negative effects to Canadian steel producers in the event foreign steel producers divert U.S.-bound product to... Read More

Three Canadian cities among top 10 most liveable globally in EIU ranking

Three Canadian cities among top 10 most liveable globally in EIU ranking
TORONTO — Calgary, Vancouver, and Toronto have ranked among the top ten most liveable cities in the world in the latest ranking by the Economist Intelligence Unit. Vienna took the top spot in the annual ranking to knock Melbourne down to second place after a seven-year run as the world’s most liveable city. Calgary took fourth place to move up one spot... Read More

Weed’s want ads longer, marijuana job searches up as industry grows: study

Weed’s want ads longer, marijuana job searches up as industry grows: study
OTTAWA — The growth of Canada’s soon-to-be-legal recreational pot industry is starting to create a small buzz among job hunters. The job website Indeed has released new numbers that show cannabis-related searches, while still small, were more than four times higher last month compared to the year before. The data say weed-related searches increased to 26 out of every 10,000 searches, up from six. Employers, the data found, have also been looking for more help within... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Hydro havoc Hydro One Ltd. discusses second-quarter results on Tuesday. Ontario’s new Progressive Conservative government recently introduced legislation that would give it sweeping new powers over executive compensation at the partially privatized utility. Hydro One’s CEO retired in July and the board of directors resigned... Read More

Canada in wait-and-see mode as U.S. and Mexico work on bilateral NAFTA issues

Canada in wait-and-see mode as U.S. and Mexico work on bilateral NAFTA issues
OTTAWA — The federal government finds itself in a holding pattern on NAFTA negotiations with one-on-one talks between the United States and Mexico set to spill into next week. A source familiar with the effort said Friday that Canadian negotiators won’t be returning to the NAFTA bargaining table in Washington until its two partners find common ground on their outstanding issues, especially the complex sticking points around the... Read More

Housing starts lower in July, fewer multiple-unit projects after busy June: CMHC

Housing starts lower in July, fewer multiple-unit projects after busy June: CMHC
OTTAWA — Canada Mortgage and Housing Corp. says there was a slowdown in housing construction starts in July, following a near-record high in the previous month. The federal Crown corporation says the seasonally adjusted rate of housing starts dropped to 206,314 units in July, from 346,200 in June. Urban multiple-unit projects such as condos and apartments declined by 20.3 per cent from... Read More