Annual energy bills for a typical household are expected to fall to £1,660 between April and June next year, according to a new forecast. Consultancy firm Cornwall Insight says bills could drop by £268 a 16 per cent decrease – in line with the official price cap set by the UK’s energy regulator Ofgem. The … Read more
Canada’s upstream oil and gas industry and drilling services sector has a “very favourable” outlook for 2024, according to Enserva’s State of the Industry report released on Thursday. Key highlights of the report show that oil prices are expected to remain strong, demand will be robust, export capacity will increase, and investment and drilling activity are set … Read more
The pace of housing starts in Canada fell by 22 per cent in November, the Canada Mortgage and Housing Corp. said Friday. The agency says the monthly seasonally adjusted annual rate of housing starts in November came in at 212,624 units, down from 272,264 in October. A housing start is defined as the beginning of construction work … Read more
Bank of Canada governor Tiff Macklem says he expects 2024 to be a transition year as higher interest rates slow down the economy, making way for lower inflation. In his final speech of the year, the governor laid out his expectations for a softer economy next year and offered criteria for the central bank to start discussing rate … Read more
Air Transat and the union representing its flight attendants, a unit of The Canadian Union of Public Employees, have reached a tentative agreement subject to a vote to renew their collective agreement, according to a press release the airline released today. Details of the agreement will be presented to members and voted on in the coming days, according … Read more
The recent surge in newcomers is adding to inflation through housing demand, a senior Bank of Canada official said Thursday, warning rental and home prices could continue to rise without a boost to housing supply. In a speech in Windsor, Ont., deputy governor Toni Gravelle acknowledged many of the benefits coming from this rise in immigration, … Read more
Nancy Paine’s short-term rental business is dead in the water. As co-founder and CEO of Victoria-based Superhost, Paine said she had been at the forefront of the Airbnb revolution for seven years, acting as a “liaison” for homeowners needing help with the logistics of running a listing on the accommodation site. At the peak of … Read more
The Bank of England recently released its latest Financial Stability Report, emphasising the resilience of UK households and businesses in the face of continuously rising interest rates. While acknowledging this resilience, the report also reiterates concerns about the impending full impact of higher interest rates on mortgage repayments and overall financial stability. Over the past … Read more
Are you a 30-something professional looking to settle down and buy your first home in a friendly, welcoming European city? Think again. Rising real estate prices have turned home ownership into an increasingly unachievable dream for many Europeans — an issue compounded by the cost-of-living crisis, which has hit city residents and poorer households especially … Read more
