Statistics Canada reports annual pace of inflation rises in May to 2.4 per cent

Statistics Canada reports annual pace of inflation rises in May to 2.4 per cent
OTTAWA — The annual pace of inflation picked up in May as the consumer price index rose 2.4 per cent compared with a year ago, its largest increase since October last year, Statistics Canada said Wednesday. The move compared with a 2.0 per cent increase in April and was the fourth straight month of rising year-over-year increases. Economists had expected an increase of... Read More

Business leaders welcome pipeline approval but fear it may not be completed

Business leaders welcome pipeline approval but fear it may not be completed
CALGARY — Business leaders say they are pleased with news that Ottawa has re-approved the Trans Mountain pipeline expansion but will hold off on popping champagne corks until construction begins on new pipe from Edmonton to the West Coast. Jack Mintz, tax policy and economics expert at the University of Calgary’s School of Public Policy, says the approval of a... Read More

Statistics Canada reports manufacturing sales fell 0.6 per cent in April

Statistics Canada reports manufacturing sales fell 0.6 per cent in April
OTTAWA — Statistics Canada says manufacturing sales fell 0.6 per cent to $57.8 billion in April as sales in the in the transportation equipment and primary metal industries declined. The drop followed a 2.6 per cent increase in March. Economists had expected an increase of 0.4 per cent for April, according to Thomson Reuters Eikon. Sales were down in eight... Read More

Bank of Canada deputy governor says flexible exchange rate helps economy

Bank of Canada deputy governor says flexible exchange rate helps economy
EDMONTON — Canada’s flexible exchange rate has helped the economy adjust to external shocks and contributed to low and stable inflation, a senior Bank of Canada official said Monday. Speaking in Edmonton, deputy governor Lawrence Schembri said while the central bank’s inflation target normally gets most of the attention, the value of the floating dollar risks being overlooked. “The flexible exchange rate has helped... Read More

Protesters denounce Montreal’s housing shortage, pointing to condo boom, Airbnb

Protesters denounce Montreal’s housing shortage, pointing to condo boom, Airbnb
MONTREAL — A Montreal-based tenants’ rights group is leading a demonstration this afternoon in the city’s Cote-des-Neiges neighbourhood to protest a housing shortage, which it blames partly on the condo boom, real estate speculation and short-term rentals spearheaded by Airbnb. The Front d’action populaire en reamenagement urbain (FRAPRU) says it’s focused on the plight of low-income renters ahead of Quebec’s annual moving day... Read More

Liberals set to unveil social-finance strategy, including $755M in new fund

Liberals set to unveil social-finance strategy, including $755M in new fund
OTTAWA — The federal government is to unveil its promised strategy today, planning to use hundreds of millions of dollars in federal funding to finance new, experimental ways to deliver social services. Social Development Minister Jean-Yves Duclos is scheduled to make a mid-day announcement in Montreal. The Liberals have been crafting a strategy for social finance, as it’s known, for years,... Read More

CMHC reports pace of Canadian housing starts slowed in May, below estimate

CMHC reports pace of Canadian housing starts slowed in May, below estimate
OTTAWA — Canada Mortgage and Housing Corp. says the pace of housing starts slowed in May. The housing agency say the seasonally adjusted annual rate of housing starts slipped to 202,337 units in May, down 13.3 per cent from 233,410 units in April. Economists on avearge had expected an annual rate of 205,000, according to Thomson Reuters Eikon. The annualized pace... Read More

With Mexico deal done, US urges China to resume trade talks

With Mexico deal done, US urges China to resume trade talks
FUKUOKA, Japan — One down, still others to go. President Donald Trump claimed a victory after Washington and Mexico agreed on measures to stem the flow of Central American migrants into the United States. Trump called off plans to impose a 5% tax on Mexican exports, and Treasury Secretary Steven Mnuchin, speaking to reporters Saturday in Fukuoka on the sidelines... Read More

G-20 finance leaders’ goal: Adapt to turmoil in trade, tech

G-20 finance leaders’ goal: Adapt to turmoil in trade, tech
FUKUOKA, Japan — Financial leaders of the Group of 20 gathered Saturday to brainstorm ways to adapt global finance to an age of trade turmoil and digital disruptions. The central bank governors and other financial regulators meeting in this southern Japanese port city also flagged risks from upsets to the global economy as Beijing and Washington clash over trade and... Read More

‘It’s not about popularity:’ Trudeau, Macron meet in Paris amid lagging polls

‘It’s not about popularity:’ Trudeau, Macron meet in Paris amid lagging polls
PARIS — Prime Minister Justin Trudeau and French President Emmanuel Macron defended their shared efforts to ease the worries of citizens, denounced those seeking to capitalize on such fears and dismissed the notion that their message wasn’t breaking through to an anxious electorate. Standing together Friday in the regal ballroom of the Elysee Palace following their second face-to-face meeting in a... Read More