Economic data has been surprisingly resilient, but financial markets don't believe the numbers. What messages and warnings are markets sending — and should we be heeding them? Economic data has been resilient, but financial markets don't believe the numbers Financial markets are not the economy and the economy is not …
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UAW pauses plan to expand car plant strikes, citing breakthrough in GM talks
The United Auto Workers has decided not to expand its strikes against Detroit's three automakers after General Motors made a concession on unionizing electric vehicle battery plants. Factory in Arlington Texas was slated to walk off the job The United Auto Workers union has decided not to expand its strikes …
Read More »Need a reminder of food inflation? Look no further than your Thanksgiving dinner
After more than a year of high food inflation, families gathering this weekend to gobble Thanksgiving dinner may be feeling the pinch after their grocery shopping. Amid year of high prices for food, many holiday staples are much more expensive this year After more than a year of high food …
Read More »Canada added 64,000 jobs in September, led by seasonal surge in education workers
Canada's economy added 64,000 new workers as a surge in hiring in Quebec and B.C. was enough to offset a loss of 38,000 jobs in Alberta. Economists had been expecting about 25,000 new jobs Canada's economy added 64,000 new workers as a surge in hiring in Quebec and B.C. was …
Read More »Grocery chains promising more discounts, price freezes to stabilize food costs, minister says
The five largest grocery chains have delivered plans to stabilize food prices to the federal government, Industry Minister François-Philippe Champagne said Thursday. In August, food prices increased 6.9 per cent over last year, while the overall inflation rate hit 4 per cent The five largest grocery chains have delivered plans …
Read More »New apartment construction is booming in Toronto and Vancouver, but overall home building is flat, CMHC says
Canada Mortgage and Housing Corp. says construction of new homes increased slightly across several of Canada's major cities in the first half of 2023, as the pace of apartment starts helped offset declines in other dwelling types. Pace of new home construction is down 25% so far in 2023, despite …
Read More »A 47-year mortgage? They’re out there — and even longer ones could be coming
Canada's top banking regulator will soon implement new guidelines aimed at reducing the risks posed by the growing number of negative amortization mortgages — those where payments aren't enough to make a dent in the original loan balance. Banking regulator says about $250B worth of home loans are either currently …
Read More »WestJet suspends flights between Toronto and Montreal until next April
WestJet is temporarily suspending flights between Canada's two biggest cities this winter, but plans to resume service between Toronto and Montreal next spring. Airline says route will start up again in the spring WestJet is temporarily suspending flights between Canada's two biggest cities this winter, but plans to resume service …
Read More »Year of strikes continues as 75,000 Kaiser Permanente workers in U.S. walk off the job
The largest ever strike in the U.S. health care sector is set to start on Wednesday as 75,000 workers at Kaiser Permanente in a handful of states walk off the job demanding better wages. Three day strike is largest ever for a health care company Healthcare workers launched a planned …
Read More »CN Rail’s network restored after failure halted Toronto-area commute
The commute home for people in Ontario using GO Transit was put on hold Tuesday afternoon because of a Canadian National network-wide system failure affecting all rail corridors. Company cites internet connectivity issue; GO Transit and Via rail affected The commute home was put on hold Tuesday afternoon for tens …
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