Vancouver’s short-term rental listings drop by half after new rules introduced

Vancouver’s short-term rental listings drop by half after new rules introduced
VANCOUVER — The City of Vancouver says the number of short-term rentals listed online has dropped by almost half since new rules came into effect requiring operators to have a business licence. The city says there are 3,742 active listings on sites like Airbnb, compared with about 6,600 in April, when the regulations were announced. As of Sept. 1, operators must... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (16,137.57, down 23.73 points). Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 27 cents, or three per cent, to $8.68 on 28 million shares. Canopy Growth Corp. (TSX:WEED). Healthcare. Down 36 cents, or 0.52 per cent, to $68.47 on 20 million shares. Aphria Inc. (TSX:APH). Healthcare. Down seven cents, or 0.38 per cent, to $18.48 on 18.8 million shares... Read More

Suncor won’t approve more oil production expansions until pipeline progress: CEO

Suncor won’t approve more oil production expansions until pipeline progress: CEO
NEW YORK — The head of Suncor Energy Inc. says Canada’s largest oil and gas producer won’t move ahead with additional crude production expansions until there’s physical progress on getting pipelines approved. Chief executive Steve Williams told a Barclays investor conference in New York that recent judicial rulings affecting Keystone XL and Trans Mountain pipeline don’t have any short-term impacts on... Read More

Bank of Canada holds interest rate, but data ‘reinforce’ view more hikes needed

Bank of Canada holds interest rate, but data ‘reinforce’ view more hikes needed
OTTAWA — The Bank of Canada left its interest rate unchanged Wednesday in what could be just a brief pause along its gradual path to higher rates. The central bank kept its benchmark at 1.5 per cent — but many experts have predicted it could introduce another increase as early as next month. In a statement Wednesday, the Bank of Canada said more hikes should be expected... Read More

Metro Vancouver sees house prices edge lower for 2 straight months

Metro Vancouver sees house prices edge lower for 2 straight months
VANCOUVER — The Real Estate Board of Greater Vancouver says prices for detached homes, townhouses and condos have fallen for two consecutive months in Metro Vancouver. The board says the benchmark price for all types of properties is currently $1,083,400 — up 4.1 per cent compared to August 2017, but down 1.9 per cent since May 2018. Detached home prices... Read More

Crescent Point Energy cuts 17% of workforce, plans to reduce debt by $1 billion

Crescent Point Energy cuts 17% of workforce, plans to reduce debt by $1 billion
CALGARY — Crescent Point Energy Corp. says it plans to reduce its workforce by 17 per cent, sell some infrastructure assets and reduce its debt by more than $1 billion by the end of 2019. The Calgary-based company says the workforce reduction will lower expenses by more than $50 million annually, but it didn’t say how many people would be affected. According... Read More

Labour shortage is the ‘new norm’ that will last a decade: BDC economist says

Labour shortage is the ‘new norm’ that will last a decade: BDC economist says
TORONTO — Canada’s small and mid-sized companies must find ways to adapt to a “new norm” of worker shortages that will likely persist for a decade, says Pierre Cleroux, chief economist for the Business Development Bank of Canada. “They represent about 50 per cent of the Canadian economy. So they are very important. Also, they are very important in smaller communities,” Cleroux said... Read More

Trans Mountain to be discussed at Trudeau-Notley meeting in Edmonton

Trans Mountain to be discussed at Trudeau-Notley meeting in Edmonton
EDMONTON — Prime Minister Justin Trudeau will be in Edmonton today, where he’ll face questions about his government’s plans for the beleaguered Trans Mountain pipeline expansion. The prime minister’s office says Trudeau will meet with Premier Rachel Notley this afternoon. A spokeswoman for Notley says the meeting will be about the pipeline, and that the premier hopes to discuss possible paths... Read More