Renters simply can’t save

TORONTO — Renters face daunting barriers in their attempts to build wealth as they’re forced to devote an increasing share of their income to keeping a roof over their head, said an RBC report Thursday. The report by economist Carrie Freestone adds to a growing body of research painting a stark picture of the wealth […]

Energy sector sparks index

TORONTO — Strength in the energy sector helped lead Canada’s main stock index higher on Wednesday, while U.S. stock markets were mixed. The S&P/TSX composite index closed up 139.09 points at 21,970.11, with the energy index rising 1.7%. U.S. oil inventories were lower, driving oil prices higher, said Jennifer Tozser, senior wealth adviser and portfolio […]

Consolidation quells airfare wars

MONTREAL — After entertaining new entrants for several years, Canada’s airline market is once again on the path to consolidation, raising the likelihood of higher fares and fewer flight options. Since May, newer low-cost carriers Swoop and Lynx Air have disappeared from the skies and WestJet has scooped up Sunwing Airlines. The latter two alone […]

Markets edge up slightly

TORONTO — Canada’s main stock index posted a small gain Monday after starting the day lower, while U.S. markets were mixed. Markets started the day lower in part because of weakness in semiconductor stocks, said Greg Taylor, chief investment officer at Purpose Investments. That’s after Nvidia, one of the biggest U.S. stocks and a major […]

Oil pipelines will fill quickly

CALGARY — After being hamstrung for years by a lack of export capacity, Canada’s oil industry will have reason to celebrate when the much-anticipated Trans Mountain pipeline expansion comes online, expected to be sometime this spring. But the party may be short-lived, as the more-than-$30-billion pipeline is expected to quickly fill up, returning Canada’s oil […]

Hudson’s Bay, Target deal

A touch of Target is coming back to Canada. Hudson’s Bay announced Friday that it will begin stocking the U.S. retailer’s children’s apparel brand Cat & Jack in its department stores and online on March 14. Cat & Jack sells clothing for kids under the age of 12 at prices as low as $7 and […]

Local unemployment rate down

The unemployment rate fell slightly in Kelowna last month. It went from 5.6 per cent in January to 5.5 per cent in February. The rate was also down in Vancouver by two basis points to 5.6 per cent. Provincially, unemployment fell from 5.4 per cent to start the year to 5.2 per cent in February. […]

Alberta mine without permits

Environmental groups are asking Ottawa to enforce its rules on an Alberta coal site that has started building an underground test mine without fisheries permits that officials have said are required. “They can’t just sit back and wait for habitat destruction to occur,” said Ecojustice lawyer Dan Cheater. “We’d like to see them take action.” […]

Excess bank fees in billions

As the federal government pushes to reduce bank fees, a report from an economist figures Canadians are overpaying by more than $7.7 billion a year. The report by Alberta-based consultancy firm North Economics compared fees at the Canadian Big Five banks with what consumers face in the U.K. and Australia. It shows that Canadians pay […]

Positive day for markets

TORONTO — Canada’s main stock index posted modest gains Wednesday after the Bank of Canada continued to hold its key lending rate steady, while U.S. markets also moved higher, recovering some of Tuesday’s losses. The S&P/TSX composite index closed up 68.03 points at 21,593.96. In New York, the Dow Jones industrial average was up 75.86 […]