As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions. Open banking lets consumers or business customers share personal and financial information between approved banks and other … 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
Like a lot of Canadians, Alan Hong and his wife bought a trailer in 2020. Air travel was out of the question because of pandemic restrictions, and it made sense to spend time and money exploring the great outdoors. But now, they’re looking to get off life on the open road and get back in … Read more
Day 69:34A small business owner resists Momofuku’s bid to trademark Chili Crunch Celebrity chef David Chang says he will no longer enforce the trademark for his chili crunch condiment. The reversal comes after days of criticism, as some said his company, Momofuku, had attempted to bully business owners from selling their own version of the … Read more
The housing market could soon get “interesting,” economists say, as home prices and sales start to edge up, according to a pair of new reports released Friday. In its latest quarterly Home Price Update and Market Forecast, Royal LePage is forecasting that the aggregate price of a home in Canada will increase nine per cent in the fourth … Read more
Several Quebec Tim Hortons franchisees are taking the brand’s owner to court, blaming what they describe as unreasonable constraints in the company’s licensing agreements for lower-than-expected profits. In a lawsuit filed in Quebec Superior Court on Thursday, 16 companies with Tim Hortons franchise licences allege the TDL Group Corp.’s contracts “place it in a position … Read more
A new report says the federal government is providing billions of dollars in financial support for the fossil fuel industry, despite measures announced last year to limit certain types of subsidies for the oil and gas industry. The analysis, released today by the advocacy group Environmental Defence, estimated that Ottawa offered up at least $18.6 … Read more
The Bank of Canada has held its key interest rate at five per cent again, saying that it’s still too soon to consider rate cuts while underlying inflation persists. Economists were widely expecting the central bank to hold the rate. The bank said in a note on its website that it was still concerned about underlying inflation, which strips … Read more
The Bank of Canada is trying to thread a needle. It’s keeping rates higher for longer at least in part because it’s worried a rate cut now could undermine the last two years of pain and progress. “We don’t want to keep monetary policy this restrictive for longer than we have to. But nor do … Read more
