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New mortgage rule might ‘temper’ hot markets, but not for long
New mortgage rule might ‘temper’ hot markets, but not for long Starting Feb. 15, mortgage insurers require 10% down payment on portion of mortgages above $500K Vancouver and Toronto saw real estate prices, particularly for detached and semi-detached home, continue to rise last year. Most other markets saw only modest increases, or even decreases in […]
Canada sells off most of its gold reserves
Canada sells off most of its gold reserves Thousands of gold coins being sold, figures show A one-ounce gold Canadian Maple Leaf coin. The Royal Canadian Mint has produced pure Maple Leaf gold coins in a variety of denominations for more than 40 years. (Ed Betz/Associated Press) (Note: CBC does not endorse and is not […]
Husky layoffs confirmed as Calgary company continues cost-cutting
Husky layoffs confirmed as Calgary company continues cost-cutting Latest round of cuts hits Alberta’s energy industry as oil prices remain low More job cuts were announced for Husky Energy on Tuesday as the company looks to weather the current downturn. (CBC) Calgary-based Husky Energy says layoffs were announced today to ensure the company’s resilience during low oil […]
Canada lost 5,700 jobs in January
Canada lost 5,700 jobs in January Alberta had 10,000 fewer jobs, country’s unemployment rate inches up to 7.2% Canada’s jobless rate currently stands at 7.2 per cent after the economy lost 5,700 jobs last month. (LM Otero/Associated Press) The Canadian economy lost 5,700 jobs in January and the unemployment rate inched up to 7.2 per […]
TransCanada announces major contract for Energy East pipeline
TransCanada announces major contract for Energy East pipeline Project is controversial, with Montreal and nearby mayors opposed on environmental grounds TransCanada’s proposed pipeline project would carry 1.1 million barrels a day from Alberta through Quebec to an export terminal in Saint John. (Canadian Press) (Note: CBC does not endorse and is not responsible for the […]
Meridian credit union offers 1-year mortgage at 1.69%
Meridian credit union offers 1-year mortgage at 1.69% Spring mortgage wars start early, as member-owned lender makes new low offer to homebuyers Meridian credit union just offered a one-year mortgage at 1.69 per cent. (Daniel Munoz/Reuters) Alternative lender Meridian has launched the first shot in the spring mortgage wars with a one-year fixed mortgage rate […]
Thousands still without power in Cape Breton and eastern Nova Scotia
Thousands still without power in Cape Breton and eastern Nova Scotia Some may have to wait until 11:30 p.m tonight before power is restored Power line technician Scott Leyte working overnight to try and restore power in New Glasgow. (Harold MacLeod/Nova Scotia Power) It’s a cold morning for thousands of people in Cape Breton and […]
CBC adopts SecureDrop to allow for anonymous leaks
CBC adopts SecureDrop to allow for anonymous leaks Encrypted technology allows users to anonymously share files, messages online without being tracked CBC’s SecureDrop is a web-based system that allows whistleblowers to confidentially reach our journalists, including those who work in investigative units across Canada and on our leading programs. (Getty images) Dave Seglins is a […]
EI claims rose 9.2% in the year to November with Alberta hardest hit
EI claims rose 9.2% in the year to November with Alberta hardest hit More than 31,000 new jobless in Alberta as EI rolls climb to 544,200 There have been several rounds of layoffs in the oilpatch since 2014, with trades, transport, technical support, finance and management affected. (Todd Korol/Reuters) The number of Canadians receiving employment […]
Bank of Canada faces key rate decision Wednesday: To cut or not?
Bank of Canada faces key rate decision Wednesday: To cut or not? Economists have conflicting views on whether the central bank should cut its rate or hold steady Bank of Canada governor Stephen Poloz is set to reveal the bank’s latest decision on interest rates on Wednesday, and many economists say a rate cut could […]
Average Canadian house price up another 12% to $454,342
Average Canadian house price up another 12% to $454,342 But if B.C. and Ontario are stripped out, average house price declined by 2.2% last year Hot markets in Toronto and Vancouver are skewing the national average price of a Canadian home higher, CREA says. (Daniel Acker/Bloomberg) The average price of a Canadian home increased by […]
Condo sales with no cash down payment proposed by B.C. developer
Condo sales with no cash down payment proposed by B.C. developer Buyers would get a discount, which would become a virtual down payment Townline wants to sell condos in The Strand development in Port Moody, B.C., to buyers who don’t have the cash for a down payment. (Townline) A B.C. developer wants to sell condos […]
Cheap Canadian dollar making fruits and vegetables much more expensive
Cheap Canadian dollar making fruits and vegetables much more expensive Produce prices went up by around 10 per cent last year and may double inflation in 2016 Food and vegetable prices are on the rise because virtually all the produce consumed in Canada comes from the U.S. where the greenback is soaring. (Lynne Sladky/Associated Press) […]
Is Canada failing to live up to its human rights commitments with its arms deals?
Is Canada failing to live up to its human rights commitments with its arms deals? A soldier with the Gulf Co-operation Council forces prays in front of his armoured personnel carrier as his fellow solider keeps watch while they guard the Bahrain Financial Harbour in Manama. (James Lawler Duggan/Reuters) Listen 7:58 Canada has condemned a spate […]
Canada’s job recovery will reflect growing divergence between resource and export sectors: Don Pittis
Canada’s job recovery will reflect growing divergence between resource and export sectors: Don Pittis Bank of Canada governor Stephen Poloz says rebuilding Canadian economy might be a 5-year healing process Bank of Canada governor Stephen Poloz says the country is on track for slow job growth. But also expect a growing divergence between a weakening […]
