Business Buzz

CHBA wants 30-year mortgages
The Canadian Press - Feb 08, 2024 - Business Buzz

OTTAWA — The group that represents residential builders in Canada wants Ottawa to offer a 30-year amortization period for insured mortgages on new homes. The Canadian Home Builders’ Association says extending the period an additional five years would help with affordability and spur more construction. Kevin Lee, the group’s CEO, says it would bring more […]

Tavares to fight tax man
The Canadian Press - Feb 07, 2024 - Business Buzz

Toronto Maple Leafs captain John Tavares is taking the Canada Revenue Agency to court in a tax dispute of over $8 million. Court documents show Tavares filed an appeal through his lawyers last week in the Tax Court of Canada seeking to have the CRA’s reassessment of his 2018 tax return annulled. The CRA, according […]

Decent day for markets
The Canadian Press - Feb 06, 2024 - Business Buzz

TORONTO — Strength in base metal stocks helped lead modest but broad-based gains on Canada’s main stock index, while U.S. markets ticked higher. The S&P/TSX composite index closed up 85.85 points at 20,957.74. In New York, the Dow Jones industrial average was up 141.24 points at 38,521.36. The S&P 500 index was up 11.42 points […]

Researcher defends grocery chains
The Canadian Press - Feb 06, 2024 - Business Buzz

Accusations of profiteering in the Canadian grocery industry are unfounded and unsubstantiated, witnesses told a House of Commons committee studying food prices on Tuesday. “We must put the profiteering debate to rest,” Dalhousie University food researcher Sylvain Charlebois told MPs. Charlebois said while profits at the so-called Big Three grocers—Loblaw, Empire and Metro—have risen in […]

Rough start to week for markets
The Canadian Press - Feb 05, 2024 - Business Buzz

TORONTO — Canada’s main stock index fell more than 200 points Monday in a broad-based decline, while U.S. stock markets also moved lower. Base metals, utilities and telecom stocks helped lead the TSX lower. The S&P/TSX composite index was down 213.20 points at 20,871.89. In New York, the Dow Jones industrial average was down 274.30 […]

Vision Pro a game changer?
The Canadian Press - Feb 02, 2024 - Business Buzz

SAN FRANCISCO — With Apple’s hotly anticipated Vision Pro headset hitting store shelves Friday, you’re probably going to start to see more people wearing the futuristic googles that are supposed to usher in the age of “spatial computing.” It’s an esoteric mode of technology that Apple executives and their marketing gurus are trying to thrust […]

Experts question grocery push
The Canadian Press - Feb 02, 2024 - Business Buzz

Instead of enticing a foreign grocer to come to Canada, some experts say Ottawa should look at ways to support smaller and regional grocery companies to boost competition. Industry Minister François-Philippe Champagne said this week that he’s been reaching out to foreign grocery companies in the hopes they will come to Canada and help strengthen […]

Markets move on Tuesday news
The Canadian Press - Feb 01, 2024 - Business Buzz

TORONTO — Canada’s main stock index gained almost a hundred points Thursday despite weakness in energy stocks, while U.S. markets erased a big chunk of their losses from the day before. “It’s certainly a recovery from yesterday’s reaction to the Federal Reserve news, which was really that there wouldn’t be rate cuts coming in March,” […]

Macklem: Rates not to blame
The Canadian Press - Feb 01, 2024 - Business Buzz

OTTAWA — Bank of Canada governor Tiff Macklem says the central bank can’t solve the housing crisis with interest rates because the root cause is a supply shortage. Macklem appeared before MPs on the finance committee Thursday, just over a week after the most recent interest rate decision and faced multiple questions on housing affordability. […]

Prodan: Wine tiff political
Nicholas Johansen - Feb 01, 2024 - Business Buzz

The “political motivation” behind the Alberta government’s recent move to restrict direct-to-consumer importation of B.C. wine into the province remains unclear, according to the organization representing B.C.’s wineries. Last week, Alberta Gaming, Liquor and Cannabis sent letters to B.C. wineries, highlighting wineries’ practice of shipping B.C. wines directly to Alberta consumers. The agency said the practice […]