Business

Aerial views of housing in Calgary on June, 22, 2013. THE CANADIAN PRESS/Jonathan Hayward

Calgary sees highest December home sales since 2007 amid 40% buying surge

Sales of homes in Airdrie, Alta., just north of Calgary, were at a record high for December

Aerial views of housing in Calgary on June, 22, 2013. THE CANADIAN PRESS/Jonathan Hayward
Office towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan

Top CEO pay in 2019 fell, but still more than 200 times average workers: CCPA report

The average individual income in Canada for 2019 was $53,482, up from $52,061 in 2018

Office towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan
A dealer slides chips across the blackjack table on Friday, March 16, 2012, in Bangor, Maine. THE CANADIAN PRESS/AP-Robert F. Bukaty

Court approves Great Canadian Gaming merger

Supreme Court of British Columbia has signed off on the investment

A dealer slides chips across the blackjack table on Friday, March 16, 2012, in Bangor, Maine. THE CANADIAN PRESS/AP-Robert F. Bukaty
Information regarding the Canada Pension Plan is displayed of the service Canada website in Ottawa on Tuesday, January 31, 2012. THE CANADIAN PRESS/Sean Kilpatrick

Planned increase in CPP premiums on Jan. 1 to hit some workers more due to pandemic

Planned increase on Jan. 1 is part of a multi-year plan approved by provinces and the federal government

Information regarding the Canada Pension Plan is displayed of the service Canada website in Ottawa on Tuesday, January 31, 2012. THE CANADIAN PRESS/Sean Kilpatrick
A worker smooths concrete at a residential housing construction site in Toronto, Thursday, Jan. 16, 2020. Consultants at BTY say construction activity could pick up next year in many provinces, amid anticipated spending on infrastructure and renewable energy.THE CANADIAN PRESS/Cole Burston

Construction spending could rebound next year amid government support, report says

Government stimulus spending could help the construction industry find its footing next year

A worker smooths concrete at a residential housing construction site in Toronto, Thursday, Jan. 16, 2020. Consultants at BTY say construction activity could pick up next year in many provinces, amid anticipated spending on infrastructure and renewable energy.THE CANADIAN PRESS/Cole Burston
A passenger walks the halls at Montreal Trudeau Airport during the COVID-19 pandemic in Montreal, Wednesday, Dec. 23, 2020. Travel agents, with bookings down significantly this year, are digging into their roles as information providers or exploring different, less-travelled destinations in the hopes of drumming up business as the pandemic forces the industry to adapt to a new reality. THE CANADIAN PRESS/Paul Chiasson

Travel agents, squeezed by COVID-19 restrictions, adapt to a changed industry

Virtually every business that depends on travel has found itself squeezed by the lack of demand

A passenger walks the halls at Montreal Trudeau Airport during the COVID-19 pandemic in Montreal, Wednesday, Dec. 23, 2020. Travel agents, with bookings down significantly this year, are digging into their roles as information providers or exploring different, less-travelled destinations in the hopes of drumming up business as the pandemic forces the industry to adapt to a new reality. THE CANADIAN PRESS/Paul Chiasson
Shoppers take advantage of Boxing Day deals at the Rideau Centre in Ottawa, Thursday, Dec. 26, 2019. THE CANADIAN PRESS/ Patrick Doyle

Boxing Day’s shot to return to its ‘glory days’ stymied by lockdowns: Retail experts

The spending spree will likely be a ‘sad’ and ‘lacklustre’ shell of its usual self

Shoppers take advantage of Boxing Day deals at the Rideau Centre in Ottawa, Thursday, Dec. 26, 2019. THE CANADIAN PRESS/ Patrick Doyle
Christmas decorations are displayed at a Lowe’s store Friday, Oct. 2, 2020, in Northglenn, Colo. (AP Photo/David Zalubowski)

Canadians drop average holiday shopping to $200 each as pandemic takes hit on budget

Only one-in-four Canadians said they would be exchanging gifts

  • Dec 24, 2020
Christmas decorations are displayed at a Lowe’s store Friday, Oct. 2, 2020, in Northglenn, Colo. (AP Photo/David Zalubowski)
Logs are seen in an aerial view stacked at the Interfor sawmill, in Grand Forks, B.C., Saturday, May 12, 2018. An unexpected rebound in wood product prices this month is boosting profits for Canadian forestry companies but leaving homeowners and buyers with the prospect of higher home and renovation costs in 2021. THE CANADIAN PRESS/Darryl Dyck

Wood products pricing surge expected to persist, raising 2021 house, renovation costs

Lumber prices have added as much as $30K to the construction cost of a typical 2,500-square-foot house

Logs are seen in an aerial view stacked at the Interfor sawmill, in Grand Forks, B.C., Saturday, May 12, 2018. An unexpected rebound in wood product prices this month is boosting profits for Canadian forestry companies but leaving homeowners and buyers with the prospect of higher home and renovation costs in 2021. THE CANADIAN PRESS/Darryl Dyck
Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan

Statistics Canada reports economy grew 0.4 per cent in October

The increase followed growth of 0.8 per cent in September

Shipping containers are seen at the Fairview Cove Container Terminal in Halifax on Friday, Aug. 25, 2017. THE CANADIAN PRESS/Andrew Vaughan
Holiday knick-knacks stand are displayed for Christmas shoppers Friday, Oct. 2, 2020, at a Lowes store in Northglenn, Colo. Add last-minute holiday shopping to the list of time-honored traditions being upended by the coronavirus pandemic. Retailers are kicking off the holiday season earlier than ever this year in hopes of avoiding big in-store crowds and shipping bottlenecks in November and December. (AP Photo/David Zalubowski)

Millennial Money: De-stress holiday debt with a payoff plan

Take stock of what you owe – and what you can pay

Holiday knick-knacks stand are displayed for Christmas shoppers Friday, Oct. 2, 2020, at a Lowes store in Northglenn, Colo. Add last-minute holiday shopping to the list of time-honored traditions being upended by the coronavirus pandemic. Retailers are kicking off the holiday season earlier than ever this year in hopes of avoiding big in-store crowds and shipping bottlenecks in November and December. (AP Photo/David Zalubowski)
Parliamentary Budget Officer Yves Giroux waits to appear before the Commons finance committee on Parliament Hill in Ottawa on March 10, 2020. THE CANADIAN PRESS/Adrian Wyld

Budget officer says federal wage-subsidy program may cost more this year than planned

Parliamentary budget officer Yves Giroux’s office says the figure for this year could be closer to $85.5 billion

Parliamentary Budget Officer Yves Giroux waits to appear before the Commons finance committee on Parliament Hill in Ottawa on March 10, 2020. THE CANADIAN PRESS/Adrian Wyld
Braden Watts (back) and Hugh Danielson (right) demonstrate how the bull handle extension can benefit health care professions by not having to hunch over to push a patient. (Photo Submitted)

Central Alberta company secures exclusive Canadian rights for wheelchair extension

Raging Bull Medical Supplies is producing the extension which has many benefits for professionals

Braden Watts (back) and Hugh Danielson (right) demonstrate how the bull handle extension can benefit health care professions by not having to hunch over to push a patient. (Photo Submitted)
A Shell logo is seen at a petrol station in London on January 20, 2016. Royal Dutch Shell is selling its stake in Canadian Natural Resources Ltd. for about $4.3 billion.The sale of more than 97 million shares represents Shell’s entire interest in Canadian Natural, a roughly eight per cent stake in the company. THE CANADIAN PRESS/AP, Kirsty Wigglesworth

Canadian Natural to boost oil and gas output by 5% on higher $3.2B budget

CNQ is forecasting $2 billion to $2.5 billion in free cash flow after paying its dividend next year

A Shell logo is seen at a petrol station in London on January 20, 2016. Royal Dutch Shell is selling its stake in Canadian Natural Resources Ltd. for about $4.3 billion.The sale of more than 97 million shares represents Shell’s entire interest in Canadian Natural, a roughly eight per cent stake in the company. THE CANADIAN PRESS/AP, Kirsty Wigglesworth
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor of the Bank of Canada Carolyn Wilkins are seen during a news conference in Ottawa, Wednesday, July 15, 2020. The Bank of Canada will deliver a rate announcement today with observers watching if news about vaccines gives a shot in the arm to the bank’s outlook on the economy. THE CANADIAN PRESS/Adrian Wyld

Bank of Canada keeps key interest rate target on hold at 0.25%

The announcement marks the interest last rate decision the central bank will make this year

Bank of Canada Governor Tiff Macklem and Senior Deputy Governor of the Bank of Canada Carolyn Wilkins are seen during a news conference in Ottawa, Wednesday, July 15, 2020. The Bank of Canada will deliver a rate announcement today with observers watching if news about vaccines gives a shot in the arm to the bank’s outlook on the economy. THE CANADIAN PRESS/Adrian Wyld
A customer shops at a meat counter in a grocery store in Montreal, on April 30, 2020. The average Canadian family will pay up to an extra $695 for food next year, as the pandemic, wildfires and changing consumer habits drive up grocery bills to the highest ever increase predicted by an annual food price report. THE CANADIAN PRESS/Paul Chiasson

Canadian families will pay up to $695 more a year for groceries in 2021, report says

Vegetables could be particularly hard hit, with prices expected to jump as much as 6.5 per cent

A customer shops at a meat counter in a grocery store in Montreal, on April 30, 2020. The average Canadian family will pay up to an extra $695 for food next year, as the pandemic, wildfires and changing consumer habits drive up grocery bills to the highest ever increase predicted by an annual food price report. THE CANADIAN PRESS/Paul Chiasson
A woman in a face mask exits Le Chateau at Guildford Town Centre in Surrey, B.C., Friday, Dec. 4, 2020. The clothing store is going out of business amid the global COVID-19 pandemic. THE CANADIAN PRESS/Marissa Tiel

Pandemic shutdowns the last straw for some Canadian retailers, push others to brink

Some retail chains went into 2020 already saddled with massive debt and too many stores

A woman in a face mask exits Le Chateau at Guildford Town Centre in Surrey, B.C., Friday, Dec. 4, 2020. The clothing store is going out of business amid the global COVID-19 pandemic. THE CANADIAN PRESS/Marissa Tiel
(The Canadian Press)

Canadians have some domestic options to invest in COVID buzz, says biotech CEO

Relatively few Canadians do invest in U.S. biopharma, according to financial data firm Refinitiv

(The Canadian Press)
A masked worker walks behind a hiring sign on his way into the Dover Cliffs long term care home in Port Dover, Ont., Friday, Nov. 13, 2020. Statistics Canada will say this morning how Canada’s job market fared last month as COVID-19 case counts rose along with a new round of public health restrictions. THE CANADIAN PRESS/Frank Gunn

Pace of job gains slows to 62,000 in November, Statistics Canada says

The unemployment rate fell to 8.5 per cent compared with 8.9 per cent in October

A masked worker walks behind a hiring sign on his way into the Dover Cliffs long term care home in Port Dover, Ont., Friday, Nov. 13, 2020. Statistics Canada will say this morning how Canada’s job market fared last month as COVID-19 case counts rose along with a new round of public health restrictions. THE CANADIAN PRESS/Frank Gunn
A logo for Netflix on a remote control is seen in Portland, Ore.,Aug. 13, 2020. Experts in taxation and media say a plan announced Monday by the government will ultimately add to the cost of digital services and goods sold by foreign companies. THE CANADIAN PRESS/AP-Jenny Kane

‘Netflix tax’ for digital media likely to raise prices for consumers, experts say

The government says Canadian companies already collect those taxes when they make digital sales

A logo for Netflix on a remote control is seen in Portland, Ore.,Aug. 13, 2020. Experts in taxation and media say a plan announced Monday by the government will ultimately add to the cost of digital services and goods sold by foreign companies. THE CANADIAN PRESS/AP-Jenny Kane