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  • 28 Sep 2016 12:30 | Deepinder Loomba (Administrator)

    The Rogers family – best known for its role in creating one of the largest communications companies in Canada – is moving into condos.

    Edward Rogers, son of the late media mogul Ted Rogers and deputy chairman of Rogers Communications, unveiled a $1.5 billion development called M City in Mississauga, Ont. on Tuesday, marking the family’s privately-held holding company’s first major foray into real estate.  

    Rogers Real Estate Development Ltd. will work with Canadian developer Urban Capital to manage the construction processRead More

  • 26 Sep 2016 15:54 | Manjot Cheema (Administrator)

    Ottawa is cracking down on a growing number of Canadians named in the Panama Papers, with the Canada Revenue Agency warning the 2,671 individuals or firms under review they should not expect a negotiated settlement.

    The CRA has already launched 85 detailed audits of taxpayers, acting on information that was contained in the massive leak of confidential information from Panamanian law firm Mossack Fonseca in the spring. The figure shows the number of cases under audit has nearly doubled since May, when the CRA said it was looking into 45 cases. Read More

  • 23 Sep 2016 15:51 | Deepinder Loomba (Administrator)

    Ontario Premier Kathleen Wynne says she is keeping a close eye on how British Columbia is aiming to cool its hot housing market, but remains unconvinced that a tax on foreign buyers is the right move for her province. “We haven’t been advised by people in the province – either in the real estate sector or other sectors – that there is exactly the same issue [in Ontario]… and that the remedies would be exactly the same here,” Wynne told BNN in an interview on Wednesday.

    A growing number of voices are pointing to inflated home prices as a risk for Canada’s economy. The Organisation for Economic Co-operation and Development cut its outlook for Canada’s economy on Wednesday and issued a new warning on the housing market. Read More

  • 20 Sep 2016 12:03 | Deepinder Loomba (Administrator)

    TORONTO - Canada's main stock index rose in early trade on Tuesday, led by gains for its heavyweight financial sector, while energy stocks weighed with lower oil prices.

    The Toronto Stock Exchange's S&P/TSX composite index was up 58.26 points, or 0.40 per cent, at 14,554.49 shortly after the open.

    Meanwhile, Wall Street was trading higher on Tuesday, helped by financial stocks, as investors await the Federal Reserve's decision on interest rates.

    The central bank's two-day meeting will conclude with Fed Chair Janet Yellen's press conference at 2:00 p.m. ET on WednesdayRead More

  • 16 Sep 2016 11:38 | Manjot Cheema (Administrator)

    TORONTO - Financial technology firm Financeit and Concentra, which provides wholesale finance and trust services to credit unions, have signed a deal to buy TD Bank's (TD.TO 0.75%) indirect home improvement financing business.

    Financeit and Concentra said the assets have a book value of $339 million.

    Under the agreement, Concentra acquired 45,000 TD loans and more than 800 merchant dealers have been assigned to Financeit, which runs a cloud-based, point-of-sale financing system.Read More

  • 15 Sep 2016 13:17 | Manjot Cheema (Administrator)

    Canadian household debt as a share of income hit a record high in the second quarter, Statistics Canada data showed on Thursday in a report likely to reinforce concerns of overborrowing by consumers.The ratio of household debt to disposable income rose to 169.85 per cent in the second quarter from 167.37 per cent in the previous quarter. That means Canadians had nearly $1.70 of debt for every dollar of disposable income.

    Household credit market debt, which includes consumer credit and mortgage and non-mortgage loans, rose 2 per cent in the quarter, easily outpacing growth in disposable income of just 0.5 per cent.Read More

  • 13 Sep 2016 15:22 | Deepinder Loomba (Administrator)

    TORONTO -- It will cost Ontario taxpayers $1 billion a year to subsidize electricity ratepayers under a Liberal government initiative to remove the provincial portion of the harmonized sales tax from hydro bills.

    The Liberals announced the plan in Monday's throne speech opening the fall session of the legislature, saying Ontario's eight-per-cent slice of the HST would be taken off electricity bills starting in January, and promising additional relief for rural ratepayers.Read More

  • 07 Sep 2016 11:46 | Deepinder Loomba (Administrator)

    TORONTO - Canada's main stock index slipped on Wednesday as mining shares pulled back, although rising railway stocks and gains for some energy companies limited losses.At 10:32 a.m. EDT (1432 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 16.58 points, or 0.11 per cent, at 14,796.44.

    On Wall Street, the Nasdaq touched a record intraday high, helped by gains in technology shares, while the S&P 500 index and the Dow were little changed. The Dow Jones industrial average was down 9.38 points, or 0.05 per cent, at 18,528.74, the S&P 500 was down 0.45 points, or 0.02 per centRead More

  • 29 Aug 2016 11:55 | Deepinder Loomba (Administrator)

    The threat of possible job action by Canada Post workers has been placed on hold for 24 hours.The Canadian Union of Postal Workers made the announcement in a statement issued late Sunday night.

    “We’ve amended our notice in a last-ditch effort to reach a negotiated agreement before we are forced to start working to rule,” said CUPW national president Mike Palecek.The union served 72 hour strike notice Thursday night, accusing Canada Post of forcing a labour disruption by refusing to bargain in good faith. 

    Read More
  • 26 Aug 2016 12:47 | Manjot Cheema (Administrator)

    OTTAWA -- Labour Minister MaryAnn Mihychuk said Canada Post and the Canadian Union of Postal Workers will begin working with a special mediator Friday morning in the face of a union threat of job action."In an attempt to push the two parties, help them facilitate a mediated, negotiated settlement, we've got a special mediator coming in who will start working with both parties tomorrow morning," Mihychuk said Thursday evening in Saguenay, Que., where she was attending the Liberal summer caucus retreat.

    "We hope to have significant resolution by Sunday," Mihychuk said. Read More

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