Business Buzz

Airline prices on the decline
The Canadian Press - Feb 20, 2024 - Business Buzz

OTTAWA — The price of a plane ticket fell more than 14% on average in January compared with a year earlier, according to new data from Statistics Canada. Airfare also dropped nearly 24% between December and January, the agency’s consumer price index report said, as holiday demand gave way to stay-at-home habits last month. However, […]

Truck firm licence suspended
The Canadian Press - Feb 16, 2024 - Business Buzz

VICTORIA — The B.C. government has cancelled the operating licence of the trucking company involved in six highway overpass strikes since 2021, but the firm says it plans to challenge the province’s decision. Transportation Minister Rob Fleming says in a statement that the province has sent a formal cancellation notice to Chohan Freight Forwarders Ltd. […]

Index continues big recovery
The Canadian Press - Feb 15, 2024 - Business Buzz

TORONTO — Canada’s main stock index gained 1.6% on Thursday, led by strong gains in the energy sector, while U.S. markets also rose, with the S&P 500 notching a new all-time high. The S&P/TSX composite index closed up 333.29 points at 21,222.69. In New York, the Dow Jones industrial average was up 348.85 points at […]

Rent demand won’t fall yet
The Canadian Press - Feb 14, 2024 - Business Buzz

OTTAWA — RBC says the recently announced cap on new study permits won’t lead to an outright decrease in demand for rental housing from international students this year. But a new report from the bank about the cap finds the expected increase in rental demand from international students could fall by about 50% as a […]

Index plunges nearly 500 points
The Canadian Press - Feb 13, 2024 - Business Buzz

TORONTO — Canada’s main stock index lost more than 2% on Tuesday on a broad-based decline, following U.S. markets as they slid on news that inflation in January was hotter than expected. U.S. prices rose 3.1% compared with January 2023, lower than December’s annual rate but higher than economists expected. “The CPI print this morning […]

Vrbo in Canadian crosshairs
The Canadian Press - Feb 13, 2024 - Business Buzz

ST. JOHN’S, N.L. — Newfoundland and Labrador tourism officials have released an advertisement highlighting the province’s rugged scenery and lively music in response to a vacation rental company’s ad that prompted a call from the premier for it to be pulled. Vrbo ran the offending ad during the Super Bowl broadcast on Sunday, showing disappointed […]

WestJet fleet facing delays
The Canadian Press - Feb 12, 2024 - Business Buzz

WestJet faces indefinite delays on dozens of new aircraft deliveries after a panel blowout on a Boeing 737 Max plane last month prompted a halt to greater production at the U.S. aircraft maker. The Calgary-based carrier bought 42 Boeing 737 Max 10 jetliners in 2022, with options for 22 more—on top of nearly two dozen […]

Artists wants protection from AI
The Canadian Press - Feb 12, 2024 - Business Buzz

OTTAWA — Canada’s actors, directors and musicians are sounding the alarm over artificial intelligence, saying it threatens their livelihood and reputations. Groups representing people who work in TV, movies and music are calling on the Liberal government to protect their industries in its AI legislation. Actors’ union ACTRA says unbridled use of AI could result […]

Index climbs nearly 90 points
The Canadian Press - Feb 09, 2024 - Business Buzz

TORONTO — Canada’s main stock index posted a modest gain Friday, U.S. markets were mixed, and the S&P 500 surpassed 5,000 points for the first time. The S&P/TSX composite index closed up 89.96 points at 21,009.60. In New York, the Dow Jones industrial average was down 54.64 points at 38,671.69. The S&P 500 index was […]

Feds investigate grocery clauses
The Canadian Press - Feb 08, 2024 - Business Buzz

The Competition Bureau is investigating the use of restrictive real estate clauses in the Canadian grocery sector. Deputy commissioner Anthony Durocher told a House of Commons committee studying food prices that these measures, often called “property controls,” can be a major barrier to entry and expansion in the Canadian marketplace. “We are actively pursuing an […]