A senior Bank of Canada official says the need to improve productivity has reached an emergency level as the economy faces a future where inflation may be more of a threat than in the past few decades. In a speech, senior deputy governor Carolyn Rogers says an economy with low productivity can only grow so … Read more
Michelle Jeraline says she’s so stressed out by the pressure to sell customers products at TD Bank, it’s affected her health. The TD employee says she’s usually not acting in the best interest of her clients — she’s trying to sell them products that will help her meet sales targets and keep her from being … Read more
New Delhi: BlackSoil NBFC, the flagship arm of alternative credit platform BlackSoil Group, on Monday raised equity of Rs 100 crore from its existing Indian investors and family offices through a rights issue. The equity infusion will improve credit profile and increase borrowing capabilities, BlackSoil said in a statement. BlackSoil’s portfolio includes investments in growth … Read more
Consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023, Equifax Canada said. The fourth quarter saw a continuation of what’s been happening for a while now as the impacts of higher interest rates and inflation continue to weigh on consumers, said Rebecca Oakes, vice-president … Read more
A main organizer of the “Freedom Convoy” is suing the federal government for using the Emergencies Act to freeze his bank accounts, arguing it breached his Charter rights to protest COVID-19 mandates. Chris Barber, who owns a trucking company in southwestern Saskatchewan, filed last week a statement of claim in Court of King’s Bench in … Read more
After the pandemic hit in 2020, some business owners and households were hard hit financially as a result of lockdown measures. But at the same time, many Canadians saw their bank accounts grow because of their reduced spending. Those savings ballooned to over $300 billion and became so large that economists expected there would be … Read more
Canadians can begin filing their income tax returns online as of Monday, with several changes in store for the 2024 tax filing season. Those filing by paper should have received their income tax package in the mail by now, according to the Canada Revenue Agency (CRA). Most Canadians must file their tax return by April … 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
The U.S. economy grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the U.S. Commerce Department said the gross domestic product — the economy’s total output of goods … Read more
Some businesses in Canada who took out a CEBA loan may be hoping in vain for a last-minute reprieve and one more chance at free money from the federal government, but others involved say it’s time to move past trying to shift the deadlines for repayment. The federal government has indicated the deadline to pay … Read more
