Trudeau affirms importance of NAFTA amid rumbling of U.S.-Mexico deal

Trudeau affirms importance of NAFTA amid rumbling of U.S.-Mexico deal
OTTAWA — Prime Minister Justin Trudeau says Canada is still pushing for a three-country North American Free Trade Agreement despite rumblings of a bilateral deal between the United States and Mexico. Trudeau says today that NAFTA remains the best option for ensuring prosperity for workers in all three countries. However, U.S. President Donald Trump and his Agriculture Secretary Sonny Purdue both... Read More

Ottawa says Japan has resumed Canadian wheat imports after temporary suspension

Ottawa says Japan has resumed Canadian wheat imports after temporary suspension
Ottawa says Japan has ended its temporary suspension of Canadian wheat imports. Japan had halted shipments after some unauthorized genetically modified wheat was found in southern Alberta. Ottawa says the decision marks an end to all international trade actions arising from the discovery on June 14. South Korea resumed shipments late last month. Modified wheat is not approved for commercial... Read More

Canada’s annual inflation rises 2.5% thanks to boost from higher energy prices

Canada’s annual inflation rises 2.5% thanks to boost from higher energy prices
OTTAWA — The country’s annual inflation rate rose to 2.5 per cent in June as consumer prices grew at their fastest pace in more than six years, Statistics Canada said in a report Friday. The federal agency’s latest inflation number received a boost from higher energy prices, especially gasoline, fuel oil and other fuels. It followed a 2.2 per cent... Read More

Saskatchewan finishes 2017-18 with smaller deficit; still $303M in red

Saskatchewan finishes 2017-18 with smaller deficit; still $303M in red
REGINA — Stronger that expected resource revenue helped the Saskatchewan government finish the last fiscal year with a deficit almost $400 million smaller than initially forecast. The province finished 2017-18 spending $303 million more than it took in. But that’s $393 million better than what was projected in last year’s budget. Finance Minister Donna Harpauer says a stronger performance in the oil and potash sectors helped. Other factors included an increase... Read More

B.C. homeowner groups can fine defiant short-term rental hosts $1,000 a day

B.C. homeowner groups can fine defiant short-term rental hosts $1,000 a day
VANCOUVER — Homeowners groups in British Columbia will soon be able to fine owners or residents up to $1,000 a day for defying the corporation’s bylaws on short-term rentals. The B.C. government says the regulations for the so-called strata corporations will be changed as of Nov. 30 to help the associations address short-term rentals, such as those arranged through Airbnb and other vacation websites.... Read More

CMHC looks to make it easier for self-employed to obtain a mortgage

CMHC looks to make it easier for self-employed to obtain a mortgage
OTTAWA — Canada Mortgage and Housing Corp. is making changes intended to make it easier for the self-employed to qualify for a mortgage. The national housing agency says it’s giving lenders more guidance and flexibility to help self-employed borrowers. Self-employed Canadians may have a harder time qualifying for a mortgage as their incomes may vary or be less predictable. CMHC... Read More

U.S. launches national security investigation against uranium imports

U.S. launches national security investigation against uranium imports
Canada could face a larger trade dispute with the U.S. after the Department of Commerce launched another national security investigation, this time by looking into uranium imports. Commerce Secretary Wilbur Ross announced the investigation Wednesday, noting U.S. production of uranium for military and electric power has decreased to five per cent of its consumption from 49 per cent in 1987. “The Department of... Read More

Restaurant Brands International to review ‘no-poach’ franchise agreements

Restaurant Brands International to review ‘no-poach’ franchise agreements
One of Canada’s largest fast-food companies says it will review a controversial clause in its franchisee contracts less than a week after numerous competitors in the U.S. dropped similar language from their contracts to avoid an antitrust lawsuit. The so-called no-poach clause — in which franchisees sign agreements prohibiting them from hiring employees from other franchisees — is common, but has recently caused concern it... Read More

Powell bullish on US economy, expects rates to keep rising

Powell bullish on US economy, expects rates to keep rising
WASHINGTON — Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and expects to keep raising interest rates gradually. He said solid job gains and strong economic growth has enabled the Fed to dial back the “extra boost” it implemented during the financial crisis and recession. In his semi-annual testimony to Congress Tuesday, Powell described the... Read More

CREA reports June home sales down 10.7% from year ago, but up from May

CREA reports June home sales down 10.7% from year ago, but up from May
OTTAWA — The Canadian Real Estate Association says the number of homes sold in June was down 10.7 per cent from a year ago. The result was a five-year low for the month of June. However, sales volume was up 4.1 per cent when compared with May. The association says it was the first substantive month-over-month increase this year. The national average... Read More