Oil prices climbed this week as tensions in the Middle East escalated. Iran launched missiles at Israel and the Israelis threatened retaliation, raising the possibility of a disruption to the flow of oil from the region. A jump in oil prices automatically spurs fear of a spike in gas prices, but experts see reasons that … Read more
Canadian retail sales edged up in July, but economists say it will take further interest rate cuts to spark lasting activity. Statistics Canada said Friday that retail sales rose 0.9 per cent, to $66.4 billion, in July, helped by stronger new car sales. The agency says sales were higher in seven of the nine subsectors it … Read more
The potential of tariffs on Chinese electric vehicle imports is being welcomed by the Canadian head of General Motors as major producer BYD looks to enter the market. “We’re encouraged by the government’s examination of these issues,” said Kristian Aquilina, president of GM Canada. “Because on the basis of strong competition, a fair playing field, … Read more
Walking through the buzz and brush of her bee yard, Maggie Lamothe-Boudreau points to a nearly empty wooden pallet that used to house hives in her field in Saint-Adrien-d’Irlande, Que. She’s about 200,000 bees short. Last week, four hives disappeared overnight in what she suspects was an amateur hive heist. Leaving behind a pair of … Read more
Canada’s annual inflation rate fell to 2.7 per cent in June — down from 2.9 per cent in May — mostly due to slower increases in gasoline prices, Statistics Canada said on Tuesday. Compared to June of last year, gasoline prices rose an average of 0.4 per cent in June. That’s down from a 5.6 per cent annual increase … Read more
Cost of Living5:50Why is gas always more expensive in the summer? As summer approaches, Canadian drivers have likely already experienced the all-too-familiar rise in prices at gas station pumps. A boosted demand for gasoline by people on road trips affects prices, as did the latest increase in the federal carbon tax in most provinces and territories. But there’s another key … Read more
It was supposed to do the heavy lifting for Canada’s greenhouse gas emissions targets. And it was supposed to remain a major part of Prime Minister Justin Trudeau’s legacy, both at home and abroad — part of an urgent global push to fight climate change. But instead of fulfilling those Liberal hopes, carbon pricing has … Read more
Quebec wants to boost transparency around gas prices. The province will force gas stations to report their prices to the government, and it’s going to publish them online. Pierre Fitzgibbon, Quebec’s economy minister, made the announcement on Thursday as he revealed a government-commissioned study that recommended making some changes to how Quebec regulates gas stations. The … Read more
The Bank of Canada is getting closer to cutting interest rates as inflation shows signs of coming down and staying down, the central bank’s governor, Tiff Macklem, told MPs Thursday. “We do see renewed downward momentum in underlying inflation. The message to Canadians is, we are getting closer. We are seeing what we need to … Read more
Canada’s biofuel industry is welcoming a proposed multi-billion dollar package of financial support from the federal government, although concerns remain about whether it will be enough to compete with lucrative subsidies south of the border and reverse the growing dependence on U.S. imports to meet clean fuel regulations. The federal government is committing $1.27 billion toward … Read more
