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Fruit and vegetable prices hike overall food costs
Fruit and vegetable prices hike overall food costs Food prices increased by four per cent over the year, largely because of the low loonie According to the Consumer Price Index, food prices increased by four per cent from Jan. 2015 to Jan. 2016. But fresh vegetables alone were up 18 per cent. For example, just […]
Gold price over $1,200 has bullion buyers sure rally will continue
Gold price over $1,200 has bullion buyers sure rally will continue Price of bullion is rising fast, especially when converted into Canadian currency Gold has outperformed almost every single other asset class as an investment this year. Many backers of the precious metal say the rally is just getting started. (Frantzesco Kangaris/Bloomberg) Bad news for […]
OECD cuts growth outlook for Canada’s economy this year and next
OECD cuts growth outlook for Canada’s economy this year and next Canada, other economies ‘reliant on commodity exports’ bear brunt of global slowdown A worker builds a jet engine at a factory in Quebec. According to the OECD, Canada’s economy is going to perform worse than previously anticipated this year and next. (Radio-Canada) One of […]
Auto loan delinquency spikes in Alberta, Saskatchewan
Auto loan delinquency spikes in Alberta, Saskatchewan Credit agency TransUnion points to non-mortgage debt defaults in oil-producing provinces Pickup truck sales have grown rapidly in the past five years, but with job losses in Alberta and Saskatchewan, the debt from auto loans is hanging over some consumers. There has been enormous sales growth of pickup trucks […]
Average house price in Canada up 17% in January to $470,297
Average house price in Canada up 17% in January to $470,297 House prices increased by an astounding 17 per cent in January, CREA said. (Patrick T. Fallon/Bloomberg) The average price of a Canadian home sold in January increased by 17 per cent to $470,297 compared to the same month a year ago. Home sales were higher […]
An east-west power grid, Canada’s elusive national dream
An east-west power grid, Canada’s elusive national dream Inter-provincial strategy would help environment, but political will could be lacking The price tag for transmission lines can be hefty. The longer the distance, the bigger the sticker shock. (Jacques Boissinot/Canadian Press) Constructing an east-west electricity grid in Canada is far from a novel idea. Politicians and […]
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 […]
Jingle mail rears its ugly head in Alberta again
Jingle mail rears its ugly head in Alberta again Federal government worried about Albertans making strategic defaults on their mortgages This tiny hamlet south of Calgary has 27 homes for sale for more than $1 million. (Colin Hall/CBC) One of the big bads from the 1980s is starting to emerge again in Alberta. Jingle mail — the […]
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 […]
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas Greece was fixed for a few months, when the so-called “anti-austerity” government of PM Tsipras which came to power just over a year ago did what each on its predecessors did by kicking the can and trading off what little sovereignty Greece […]
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 […]
Connected devices quietly mine our data, privacy experts say
Connected devices quietly mine our data, privacy experts say Hackers could use them as stepping stone to another part of your network The Internet of Things – gadgets we wear and install that are connected to a network – quietly mines information about us and can leave consumers vulnerable to a hacker, cybersecurity experts say. […]
