Home prices could fall 7 per cent in 2021, hitting Prairies hard: Moody’s forecast

Home prices could fall 7 per cent in 2021, hitting Prairies hard: Moody’s forecast
TORONTO — Moody’s Analytics, Inc. says home prices across Canada could tumble about seven per cent in 2021, as unemployment dampens the hot real estate market. The financial intelligence company says there is a dangerous oversupply of new, single-family homes in Calgary and Edmonton, on top of affordability issues in Vancouver and Toronto. Moody’s report did not go into detail... Read More

Airlines demand ‘concrete plan’ for financial aid following throne speech

Airlines demand ‘concrete plan’ for financial aid following throne speech
OTTAWA — Canada’s flight industry is taking some heart in signals from the throne speech that federal financial help is on the way but wants to see quick, clear action to support the sector, which has been devastated by the COVID-19 pandemic. The government’s speech from the throne Wednesday pledged “further support for industries that have been the hardest hit,... Read More

Ottawa’s plan to rein in tech giants missing key pieces: experts

Ottawa’s plan to rein in tech giants missing key pieces: experts
TORONTO — The Liberal government unveiled a plan to rein in tech giants in its throne speech this week, but experts say there is much more that should be included. The government says web giants are taking Canadians’ money while imposing their own priorities and that must change. It wants to address corporate tax avoidance by digital giants, ensure their... Read More

Thailand sues Facebook, Twitter for allowing banned material

Thailand sues Facebook, Twitter for allowing banned material
BANGKOK — Thailand’s government lodged complaints with police Thursday against Facebook and Twitter, alleging they failed to comply with court orders to block content judged illegal under Thai law. Minister of Digital Economy and Society Buddhipongse Punnakanta said at a news conference that it was the first time his ministry has taken such action against the social media companies under... Read More

Women more likely than men to be affected by automation, Statistics Canada study says

Women more likely than men to be affected by automation, Statistics Canada study says
OTTAWA — A Statistics Canada study says women are more likely than men to face a risk of their jobs being affected by automation. The results released Thursday are based on a 2016 Longitudinal and International Study of Adults conducted before COVID-19, which the agency says may accelerate workplace automation. Men and women were equally likely to face a high... Read More

Some CRA online services remain unavailable a month after cyberattacks

Some CRA online services remain unavailable a month after cyberattacks
The Canada Revenue Agency won’t say when it expects its website to return to normal. In August, the federal tax collection agency took its website offline after it suffered two cyberattacks, and some online services still remain unavailable. The affected services include the ability for individuals to make address changes and manage direct deposits. The CRA says it’s still conducting a... Read More

Mortgage rates tick up to 2.9%, remain at historic lows

Mortgage rates tick up to 2.9%, remain at historic lows
SILVER SPRING, Md. — U.S. average rates on long-term mortgages rose slightly this week but remain at historically low levels. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan edged up to 2.90% from 2.87% last week. One year ago, the rate averaged 3.64%. The average rate on the 15-year fixed-rate mortgage also rose,... Read More

CI Financial growing wealth management business with minority stake in Assante Dorval

CI Financial growing wealth management business with minority stake in Assante Dorval
TORONTO — CI Financial Corp. and its Assante Wealth Management (Canada) Ltd. subsidiary have signed a deal to acquire a minority share in Assante’s operation in Dorval, Que. The companies say it’s the first direct equity investment in a regional or local operation for Assante, as the offices are typically owned by an adviser or adviser team. Financial terms of... Read More

Global Business Forum conference in Banff goes ahead with COVID-19 adjustments

Global Business Forum conference in Banff goes ahead with COVID-19 adjustments
  BANFF, Alta. — An organizer of the 21st annual Global Business Forum in Banff on Thursday says she’s proud of the work her committee has done to present a “hybrid” event this year where half of the attendees will be in the room and the rest taking part online. But vice-chairwoman Lois Mitchell says there’s no intent to ever... Read More

BlackBerry reports second-quarter loss, revenue up from year ago

BlackBerry reports second-quarter loss, revenue up from year ago
WATERLOO, Ont. — BlackBerry Ltd. reported a loss of US$23 million in its latest quarter as its revenue grew six per cent compared with a year ago. The security software and services company, which keeps its books in U.S. dollars, says the loss amounted to four cents per diluted share for the quarter ended Aug. 31. The result compared with... Read More