Canada’s inflation rate decreased to two per cent in August, Statistics Canada reported on Tuesday, finally hitting the Bank of Canada’s target in its long campaign to cool price growth. The central bank began aggressively hiking interest rates in April 2022 to tame skyrocketing inflation, and it made its first rate cut since March 2020 in June. “Our … Read more
Rogers Communications has bought Bell out of its stake in Maple Leaf Sports & Entertainment, the company that owns the Toronto Maple Leafs and Toronto Raptors, for $4.7 billion. Bell Canada Enterprises (BCE Inc.), which owns 37.5 per cent of MLSE, said in a media release Wednesday that the deal is expected to close in mid-2025. The company … Read more
The Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, the third consecutive cut since June. The central bank said the reduction comes after “continued easing in broad inflationary pressures.” The key interest rate was lowered by another 25 basis points, following a pattern established earlier this summer when rates were … Read more
Canada’s consumer price index cooled to 2.7 per cent in April, down from 2.9 per cent in March, led by the slower growth of food prices, Statistics Canada said Tuesday. Though food prices still rose in April, they did so at a slower pace of 1.4 per cent compared to 1.9 per cent in March, the data … Read more
Miss something this week? Don’t panic. CBC’s Marketplace rounds up the consumer and health news you need. Want this in your inbox? Get the Marketplace newsletter every Friday. Would you sign a gag order to get compensation from your bank? Guanghu Cui of Oakville, Ont., refused to sign a non-disclosure agreement to get financial compensation in a dispute with his … Read more
It’s a store you know by scent. For decades, the sometimes-overwhelming aroma of The Body Shop’s satsuma soaps and coconut body butters have wafted through mall concourses, as much a staple to the culture as the food court. The U.K.-based beauty and cosmetics shop has more than 3,000 retail locations in 70 countries, including 110 standalone … Read more
Business insolvencies jumped by more than 41 per cent in 2023, according to data released Friday by Canada’s top financial regulator. The report from the Office of the Superintendent of Bankruptcy showed that the total number of insolvencies — meaning those filed by both businesses and consumers — was up by 23.6 per cent last year. The … Read more
With a major deadline to repay a pandemic era loan just over a month away, one small business owner says she’s only now being told she was never eligible for the money in the first place. The Canada Emergency Business Account (CEBA) was introduced at the height of the pandemic to help out small businesses … Read more
