Building permits fall 5.8%

tatistics Canada says the value of building permits issued by municipalities fell in March for the second consecutive month, due in large part to a drop in plans for apartment buildings, particularly in B.C. and Ontario. The agency says the value of building permits dropped 5.8 per cent to $7.0 billion in March. Economists had […]

Kushner NAFTA’s saviour?

On the day the White House threatened to withdraw from the North American Free Trade Agreement, President Donald Trump’s son-in-law and senior adviser, Jared Kushner, emerged as a key conduit between the United States and Canada. But his role has sparked a cross-border game of conflicting accounts about who called who first. According to a […]

$2.4B handbag takeover

Coach will spend $2.4 billion for Kate Spade, tying together two premier brands in the luxury goods sector that have fought to snare younger shoppers. Noting that crucial demographic, Coach Inc. CEO Victor Luis said in a statement Monday that Kate Spade has a “strong awareness among consumers, especially millennials.” Coach executives say that 60 […]

Tims expanding to UK

The CEO of the parent company of Tim Hortons is brushing off skepticism that the British will embrace its double-doubles and Timbits as it readies to open its first location in the United Kingdom next month. The coffee-and-doughnut chain may be a national institution in Canada, but in the country synonymous with tea time, it […]

Softwood retaliation?

The Canadian government is threatening multiple trade actions against the United States in retaliation for duties on softwood lumber. One will be announced publicly in a letter today; another batch of penalties is being studied. The Canadian Press has learned that Prime Minister Justin Trudeau will notify B.C. Premier Christy Clark that he is seriously […]

Air Canada posts $37M loss

Air Canada says a 16 per cent increase in operating costs due to higher fuel prices and other items has resulted in a $37-million loss for the first quarter. The loss was equal to 14 cents per share and contrasted with a $101 million profit in last year’s first quarter. The Montreal-based airline says its […]

Wages stall as more have jobs

The unemployment rate fell last month to its lowest level since the start of the last major recession nearly nine years ago, but wage growth stalled to its weakest in more than two decades, Statistics Canada said Friday. Hourly wages expanded by 0.7 per cent in April, the slowest year-over-year growth since the federal agency […]

Exports hit record high

The energy and consumer goods sectors helped Canadian exports rise to a record high in March as the country’s trade deficit narrowed to $135 million, Statistics Canada said Thursday. Economists had expected a deficit of $800 million, according to Thomson Reuters. “This is a solid report,” said Benjamin Reitzes, Canadian rates and macro strategist at […]

ConocoPhillips lays off 300

ConocoPhillips says it’s cutting about 300 jobs following a deal to sell most of its Canadian oil and gas holdings to Cenovus Energy. Spokesman Rob Evans said the layoffs are needed to adjust to the smaller size of the company following the $17.7 billion deal announced in late March. He said the cuts will be […]

Nationwide gin recall

The Canadian Food Inspection Agency is issuing a nation-wide recall warning for 1.14-litre bottles of Bombay Sapphire London Dry Gin. At least five provincial liquor control agencies previously recalled the bottles of gin because they contain more alcohol than the amount stated on the label. The Liquor Control Board of Ontario was the first to […]