Business Buzz

Federal deal for certain meds
The Canadian Press - Feb 23, 2024 - Business Buzz

OTTAWA — The federal Liberals and New Democrats have reached a deal that would allow every Canadian with a health card to access free diabetes medication and birth control, the NDP confirmed Friday. The coverage is to be included in the first piece of a national pharmacare program, with legislation expected to be introduced in […]

Canada too slow to adopt AI?
The Canadian Press - Feb 22, 2024 - Business Buzz

TORONTO — Members of Canada’s tech community say they’re worried the country is adopting artificial intelligence too slowly, threatening its reputation as a leader in the sector if the trend persists. “The slow pace of adoption of Canadian-made AI technologies is one of the biggest challenges that puts Canada in danger of ceding its hard-fought […]

Machines fight off recession
The Canadian Press - Feb 21, 2024 - Business Buzz

WASHINGTON — Trying to keep up with customer demand, Batesville Tool & Die began seeking 70 people to hire last year. It wasn’t easy. Attracting factory workers to a community of 7,300 in the Indiana countryside was a tough sell, especially having to compete with big-name manufacturers nearby like Honda and Cummins Engine. Job seekers […]

Rate intrigue impacts markets
The Canadian Press - Feb 20, 2024 - Business Buzz

Canada’s main stock index was down slightly Tuesday and U.S. markets also fell, as investors continue to make guesses about when central banks on either side of the border will start cutting interest rates. The S&P/TSX composite index was down 38.08 points at 21,217.53. In New York, the Dow Jones industrial average was down 64.19 […]

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 […]