Business

Bank towers are shown from Bay Street in Toronto’s financial district on Wednesday, June 16, 2010. Canada is banking on newcomers to help keep the economy humming along, while banks themselves are eying the hundreds of thousands of people coming to the country every year as a key source of client growth. THE CANADIAN PRESS/Adrien Veczan

Canadian banks look to newcomers as key source of client growth

Some banks forming partnerships with international ones to make transitioning to Canada easier

Pipes leading to a processing unit at Suncor Fort Hills facility in Fort McMurray, Alta., Monday, Sept. 10, 2018. Proponents of imposing a windfall tax on the Canadian oil and gas industry now have another global power setting precedent for the policy. THE CANADIAN PRESS/Jason Franson

Advocates of windfall tax on oil and gas sector can now point to EU for inspiration

EU’s tax would redirect about 140 million euros in revenue a year

Employees wearing protective equipment work at a semiconductor production facility during a government organized tour for journalists in Beijing, on May 14, 2020. Canada’s technology industry says flaring tensions between China and Taiwan are reminding companies how important it is to seek a broader range of sources for semiconductors, and to invest in the sector. THE CANADIAN PRESS/AP, Mark Schiefelbein

Taiwan-China tensions a reminder to tech: diversify chip manufacturers

Chips power electronics ranging from iPhones to Lockheed-Martin fighter jets

The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. As the Bank of Canada tries to reign in red hot inflation, the central bank is engaging in another fight: one against misinformation. THE CANADIAN PRESS/Sean Kilpatrick

Did the Bank of Canada print money to finance the feds? Central bank sets record straight

Conservative leadership front-runner Pierre Poilievre has been a loud critic of the Bank of Canada

The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. As the Bank of Canada tries to reign in red hot inflation, the central bank is engaging in another fight: one against misinformation. THE CANADIAN PRESS/Sean Kilpatrick
Statistics Canada’s offices at Tunney’s Pasture in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang

Economy grew by annual rate of 3.3% in second quarter, Statistics Canada says

According to the federal agency, real GDP grew by 0.8 per cent in the second quarter

Statistics Canada’s offices at Tunney’s Pasture in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang
Canadian banks will give some insight into where they see the economy going when they start to report this week, with analysts watching for trends in key indicators like loan growth, capital raising, and how much banks are putting aside in case loans go sour. The Bay Street Financial District is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
Canadian banks will give some insight into where they see the economy going when they start to report this week, with analysts watching for trends in key indicators like loan growth, capital raising, and how much banks are putting aside in case loans go sour. The Bay Street Financial District is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
Statistics Canada says manufacturing sales fell 0.8 per cent to $71.8 billion in June as the petroleum and coal product sector helped lead the way lower. An oil drilling rig operates surrounded by canola and hay fields near Cremona, Alta., Monday, July 12, 2021.THE CANADIAN PRESS/Jeff McIntosh

Statistics Canada says manufacturing sales down 0.8% in June

Wood product sales fell 7.2 per cent in June, while aerospace product and parts dropped 16.8 per cent

Statistics Canada says manufacturing sales fell 0.8 per cent to $71.8 billion in June as the petroleum and coal product sector helped lead the way lower. An oil drilling rig operates surrounded by canola and hay fields near Cremona, Alta., Monday, July 12, 2021.THE CANADIAN PRESS/Jeff McIntosh
Shoppers shop at a grocery store in Glenview, Ill., Monday, July 4, 2022. U.S. demand for grocery delivery is cooling as food prices rise. Some shoppers are shifting to less expensive grocery pickup, while others are returning to the store. (AP Photo/Nam Y. Huh)

Demand for grocery delivery cools as food costs rise

More shoppers opting for curbside pickup or in-person purchases now

Shoppers shop at a grocery store in Glenview, Ill., Monday, July 4, 2022. U.S. demand for grocery delivery is cooling as food prices rise. Some shoppers are shifting to less expensive grocery pickup, while others are returning to the store. (AP Photo/Nam Y. Huh)
An Air Canada jet takes off from Trudeau Airport in Montreal, Thursday, June 30, 2022. THE CANADIAN PRESS/Graham Hughes
An Air Canada jet takes off from Trudeau Airport in Montreal, Thursday, June 30, 2022. THE CANADIAN PRESS/Graham Hughes

Air Canada denying passenger compensation claims for staff shortages, citing safety

Airlines required to pay if reason for cancellation is within their control, but not if safety is at play

An Air Canada jet takes off from Trudeau Airport in Montreal, Thursday, June 30, 2022. THE CANADIAN PRESS/Graham Hughes
An Air Canada jet takes off from Trudeau Airport in Montreal, Thursday, June 30, 2022. THE CANADIAN PRESS/Graham Hughes
Bank buildings are photographed in Toronto’s financial district on June 27, 2018. As inflation tops eight per cent, anyone with money in the bank is seeing their savings drip away at the fastest rate on record because deposit interest rates, still largely languishing at around one per cent, haven’t kept up. THE CANADIAN PRESS/Tijana Martin
Bank buildings are photographed in Toronto’s financial district on June 27, 2018. As inflation tops eight per cent, anyone with money in the bank is seeing their savings drip away at the fastest rate on record because deposit interest rates, still largely languishing at around one per cent, haven’t kept up. THE CANADIAN PRESS/Tijana Martin
Shopify Inc. says it will layoff 10 per cent of its workforce because the company misjudged the growth of e-commerce. Shopify Inc. headquarters signage in Ottawa on Tuesday, May 3, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Shopify Inc. says it will layoff 10 per cent of its workforce because the company misjudged the growth of e-commerce. Shopify Inc. headquarters signage in Ottawa on Tuesday, May 3, 2022. THE CANADIAN PRESS/Sean Kilpatrick
A Sunwing aircraft is parked at Montreal Trudeau airport in Montreal on Wednesday, March 2, 2022. Unifor says the Canadian government should block the WestJet Group’s takeover of Sunwing Airlines Inc. unless it can guarantee job creation and investments in workers. THE CANADIAN PRESS/Paul Chiasson

Unifor pushes for job guarantees in federal review of Westjet’s takeover of Sunwing

Union concerned acquisition will create lower wages, job instability

A Sunwing aircraft is parked at Montreal Trudeau airport in Montreal on Wednesday, March 2, 2022. Unifor says the Canadian government should block the WestJet Group’s takeover of Sunwing Airlines Inc. unless it can guarantee job creation and investments in workers. THE CANADIAN PRESS/Paul Chiasson
Tony Staffieri speaks at the Rogers annual general meeting in Toronto on Monday, April 23, 2013. THE CANADIAN PRESS/Matthew Sherwood

Rogers pursuing deal with competitors to juggle 911 calls in case of outage

July 8 outage left millions unable to use phone for emergency services

Tony Staffieri speaks at the Rogers annual general meeting in Toronto on Monday, April 23, 2013. THE CANADIAN PRESS/Matthew Sherwood
The House of Commons industry committee will hold two hearings today about the Rogers outage that lasted more than 15 hours and left millions of Canadians in a communications blackout. People use Starbucks’ provided WIFI at a store in Toronto amid a nationwide Rogers outage, affecting many of the telecommunication company’s services, Friday, July 8, 2022. THE CANADIAN PRESS/Cole Burston
The House of Commons industry committee will hold two hearings today about the Rogers outage that lasted more than 15 hours and left millions of Canadians in a communications blackout. People use Starbucks’ provided WIFI at a store in Toronto amid a nationwide Rogers outage, affecting many of the telecommunication company’s services, Friday, July 8, 2022. THE CANADIAN PRESS/Cole Burston
A pair of U.S. senators say tariff relief on imports from Canada would take inflationary pressure off the U.S. housing market. (file)

Let’s make a deal with Canada on softwood, U.S. senators urge Biden administration

About 30 per cent of the timber used in the U.S. comes from Canada

A pair of U.S. senators say tariff relief on imports from Canada would take inflationary pressure off the U.S. housing market. (file)
The union representing more than 700 WestJet employees at airports in Calgary and Vancouver say they have voted to support a strike if they cannot reach a new contract with the airline. Westjet employees wearing masks wait for passengers at the Calgary Airport in Calgary, Alta., Friday, Oct. 30, 2020. THE CANADIAN PRESS/Jeff McIntosh

WestJet employees in Calgary and Vancouver back strike vote if deal can’t be reached

Unifor says wages are a key issue in the contract talks as strike vote see 98 per cent in favour

The union representing more than 700 WestJet employees at airports in Calgary and Vancouver say they have voted to support a strike if they cannot reach a new contract with the airline. Westjet employees wearing masks wait for passengers at the Calgary Airport in Calgary, Alta., Friday, Oct. 30, 2020. THE CANADIAN PRESS/Jeff McIntosh
Softwood lumber is pictured along the Fraser River in Richmond, B.C., Tuesday, April 25, 2017. THE CANADIAN PRESS/Jonathan Hayward

West Fraser Timber shuts down takeover report; shares spike

Company says it has not received a proposal and there are no ongoing discussions

Softwood lumber is pictured along the Fraser River in Richmond, B.C., Tuesday, April 25, 2017. THE CANADIAN PRESS/Jonathan Hayward
A man pumps gas in Montreal, Friday, March 4, 2022. Statistics Canada will release consumer price index data for June on Wednesday, a week after the Bank of Canada raised its key interest rate by a full percentage point as it continues its battle against high inflation.THE CANADIAN PRESS/Graham Hughes
A man pumps gas in Montreal, Friday, March 4, 2022. Statistics Canada will release consumer price index data for June on Wednesday, a week after the Bank of Canada raised its key interest rate by a full percentage point as it continues its battle against high inflation.THE CANADIAN PRESS/Graham Hughes
A loonie coin is pictured in North Vancouver, B.C. in April, 2014. It used to be said that a penny saved was a penny earned, but rising prices helped push out the penny years ago, and with inflation now running at well over seven per cent, it’s eating into every nickel and dime. THE CANADIAN PRESS/Jonathan Hayward

The complex and sometimes controversial task of counting how far a dollar goes

“It’s a very, very tough concept to measure,” said Derek Holt, head of capital markets at Scotiabank

A loonie coin is pictured in North Vancouver, B.C. in April, 2014. It used to be said that a penny saved was a penny earned, but rising prices helped push out the penny years ago, and with inflation now running at well over seven per cent, it’s eating into every nickel and dime. THE CANADIAN PRESS/Jonathan Hayward
A man enters a Freedom Mobile store in Toronto on November 24, 2016. THE CANADIAN PRESS/Nathan Denette

Industry minister suggests Rogers outage could weigh on $26-billion Shaw deal

“This is certainly going to be on my mind, and the mind of all Canadians”

A man enters a Freedom Mobile store in Toronto on November 24, 2016. THE CANADIAN PRESS/Nathan Denette