The Canadian economy continues to beat recession fears, posting modest growth in the fourth quarter even as high interest rates weighed on consumers and businesses. Statistics Canada reported Thursday that real gross domestic product increased by an annualized rate of one per cent, beating economists’ expectations and the Bank of Canada’s forecast for the final … Read more
All members of NATO will eventually have to fulfil the pledge to spend two per cent of their GDP on defence, Poland’s prime minister said on Monday at the conclusion of a meeting in Warsaw with his Canadian counterpart. While praising Canada as one of Poland’s “best allies,” Donald Tusk delicately avoided criticizing Prime Minister … 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
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
Canada’s annual inflation rate jumped to 3.4 per cent in December, according to data released by Statistics Canada on Tuesday. That’s after both October and November saw inflation hold steady at 3.1 per cent compared to the previous year. StatsCan said that the price of gasoline, air travel, passenger vehicles and rent drove the figure higher in December. Food … Read more
Improved financial performance at Vancouver-based retailer Aritzia sent the company’s stock soaring on Thursday morning by more than 20 per cent, though some experts warn the company isn’t out of the woods after a challenging year saw the company’s red-hot hype start to simmer down. The clothing chain announced its latest quarterly earnings on Wednesday after … Read more
Armies rarely measure their success by the roads they’ve paved or the rail lines they’ve laid down — but that may be the metric Russia is using in occupied portions of Ukraine, where major infrastructure projects are underway or are being planned. Over the last few months, Moscow-based media have reported on the construction of a new railway line between Rostov-on-Don … Read more
It was another record-breaking year for Canada’s richest CEOs. In one work day, and less than a half hour into the new year — 27 minutes to be exact — Canada’s 100 highest-paid CEOs will have already earned the average worker’s annual salary, according to a new study by the Canadian Centre for Policy Alternatives (CCPA). It translates to roughly … Read more
It’s been a long time since economic data in Canada showed very much promise. The last 18 months have been defined by a cost of living crisis and a slowing economy. But a handful of economic indicators give us some hope for 2024. Inflation has slowed dramatically, and the economy didn’t actually slip into recession. … Read more
Amid high inflation, rising operating costs and shrinking Canadian demand, clothing designers in Nova Scotia say they’re struggling to find a sustainable business model. Designers say they’ve had to adjust to significant changes in consumer behaviour, supply chain disruptions and inflation as they’ve navigated through the COVID-19 pandemic and its aftermath. “We’ve made a lot of hard decisions. … Read more
