Canadians facing financial pressures ahead of the Bank of Canada decision

Breadcrumb Trail Links Retirement Personal Finance News economy More Canadians likely to declare bankruptcy, saving for retirement pushed to back burner Published July 11, 2023 • Last updated 1 day ago • 3 minute read A woman walks past the Bank of Canada headquarters in Ottawa. Photo by Adrian Wyld/The Canadian Press files Article content Having exhausted their savings, Canadians are now struggling on a series of financial fronts, according to the latest reading from an ongoing poll that was released the day before the Bank of the Canada hiked interest rates from 25 basis points to five per cent. […]

Fake online reviews: US proposes bans

WASHINGTON – US federal regulators are looking to crack down on fake reviews and other deceptive internet practices. The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones. If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties. “Our proposed rule on […]

United CEO apologizes for flying private

New York – United CEO Scott Kirby is apologizing to customers and his own employees after taking a private jet during a week when his airline was canceling thousands of flights. The airline confirmed Kirby flew from Teterboro Airport in New Jersey to Denver, Colorado, on Wednesday, and that the company did not pay for his flight. Teterboro is about 17 miles from Newark, New Jersey, where one of United’s largest hubs is located and which was the center of the airline’s meltdown this week. In a statement, Kirby said he regretted that his actions distracted the professionalism of United […]

Uh-oh. More good news that may be bad for your economic health

At first glance, the response of “sold over asking” real estate signs may seem like an encouraging signal for the Canadian economy, especially for highly invested homeowners who have watched prices fall from last year’s highs. But a growing number of economists worry that a recent series of indicators, the latest being Wednesday’s rise in Canadian retail sales, may instead be a red flag for central bankers, leading them to more rate hikes that could ultimately make many Canadians feel miserable. With each new smidgen of optimistic data, money market traders point to a rising chance that central bankers will […]

Real estate: May home sales, prices rise year-over-year

Canada’s real estate market continued to heat up in May with home sales posting their first year-over-year increase since June 2021 and the average price seeing its first year-over-year gain in a year. The findings released by the Canadian Real Estate Association on Thursday suggested a marked shift away from the sluggish sales and slumping prices the country has seen since last year. “The rebound has been evident for a number of months at this point, but May really drove the point home,” CREA chair Larry Cerqua said in a news release. The association said the number of home sales […]

Bank of Canada rates hike nails in coffin for economy

Breadcrumb Trail Links economy The Bank of Canada did exercise patience, but not enough Published June 08, 2023 • Last updated 1 day ago • 4 minute read The Bank of Canada’s tone on June 7 was hawkish, leaving the door open for another interest rate hike in July. Photo by Sean Kilpatrick /The Canadian Press Article content The Bank of Canada pulled an RBA and hiked rates on June 7 with the market mostly (call it 60-40) priced for no move and more than 80 per cent of Bay Street economists believing the central bank would hold its fire. […]

Smith faces a slew of financial challenges in Alberta after election victory

After faltering about a decade ago in her ambitions to lead the Wildrose Party to power in Alberta, Danielle Smith found redemption on Monday night as leader of the United Conservative Party with a majority victory in the provincial election. Smith became premier in October after winning the UCP leadership vote in the wake of Jason Kenney’s resignation, and now has a much broader mandate after a victory over the Alberta New Democratic Party. “To paraphrase our dear friend Ralph Klein, ‘Welcome to another miracle on the Prairies,’” Smith said to cheers from the crowd in Calgary. The election comes […]

6 ways to make more income from your investments

Breadcrumb Trail Links Investors The downside from here is much smaller than the upside Published May 09, 2023 • Last updated 3 hours ago • 5 minute read A monitor with stock market information on the floor of the New York Stock Exchange. Photo by Michael Nagle/Bloomberg files Article content There are some unique opportunities in every investment market, and we’re not talking about artificial intelligence and lithium mining here, but the joys of some sources of high income. Advertisements 2 This advertisement has not been loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY […]

WestJet closes deal to buy Sunwing Vacations and Sunwing Airlines – Business News

WestJet closes Sunwing deal The Canadian Press – May 1, 2023 / 9:15 am | Stories: 424375 Photo: The Canadian Press The WestJet Group says it has closed its acquisition of Sunwing Vacations and Sunwing Airlines that was first announced in March last year. The company says that, initially, the airlines will continue independent operations. However, WestJet says the two airlines will move from being competitors to collaborators. Stephen Hunter, formerly the CEO of Sunwing Vacations, has been appointed CEO of the WestJet Group’s vacations business. Hunter will be responsible for all tour operating and vacation package businesses at both […]

Second Nature Brands hires Chris Caswell as CFO

DETROIT — Second Nature Brands, a better-for-you brand acquired by CapVest Partners LLP last April, has named Chris Caswell as its new chief financial officer. Before joining Second Nature Brands, Mr. Caswell was CFO at Welch Foods Inc. for four years. Previously, Mr. Caswell held positions at retail company Clarks Americas, academic intervention company Resiliency for Life and beverage company Keurig Green Mountain, Inc. “We are delighted to welcome Chris to Second Nature Brands,” said Victor Mehren, chief executive officer of Second Nature Brands. “He is a leader of the highest caliber with extensive financial and operational experience with a […]