Montreal billionaire André Desmarais has joined one of the consortiums angling to build and jointly operate the federal government’s new high-frequency electric railway. Global News has learned that a newly incorporated Desmarais company, DF Canada Infrastructure Group Inc. of Montreal, has joined another billionaire, Toronto businessman Larry Tanenbaum and his Kilmer Transport as members of…
Canadian youth are prioritizing their efforts to break into the housing market over other traditional markers of adulthood like getting married, according to a survey released Wednesday from RBC. The results show homeownership remains an aspiration despite affordability barriers boxing out many of the youngest generation. Some 78 per cent of single or unmarried first-time…
The latest child benefits are going out to Canadian parents on Tuesday after a routine increase in monthly payments last month. The Canada Child Benefit (CCB) amounts were increased in July after an annual recalculation based on a family’s net income from the previous year and inflation. The federal government said the top-up was “to…
Many economists are expecting that July inflation data coming this week won’t dissuade the Bank of Canada from another interest rate cut at its next decision in September. Tuesday’s release of July consumer price index figures from Statistics Canada will be the central bank’s last look at the latest inflation trends before its upcoming rate…
With the new school year starting in a few weeks, Canadian parents are feeling “stressed out” about shopping for their kids and looking for ways to cut back their spending, recent surveys show. More than a third (34 per cent) of Canadians plan to shop for back-to-school supplies this year, according to a survey done…
A new analysis warns that Canada’s major cities are struggling to keep their transit systems running, and says public transit is heading for a “downward spiral” unless major new streams of operating revenue open up. In a report published in late May, Leading Mobility Canada said the $120-billion in expansions planned for those transit systems…
Despite recent interest rate cuts, the Canadian real estate market remained slow this summer. This has prompted some in the industry to call for an end to the stress test – a tool that determines whether a person can qualify for a mortgage. But would it be a good idea? Christopher Alexander, president of Re/Max…
The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows. The Canadian Real Estate Association (CREA) said Thursday that home sales retreated by 0.7 per cent month to month in July, giving back some of the jump…
Canadians are managing to keep up with their mortgage payments in the face of higher interest rates, but a new Statistics Canada analysis suggests there are cracks forming on other kinds of debt. The agency released a report Wednesday tracking how debt levels changed from pre-COVID-19, through the pandemic and into the ensuing economic rebound,…
Descrease article font size Increase article font size Metro Inc. says it earned a third-quarter profit of $296.2 million, down from $346.7 million in the same quarter last year, as its sales rose 3.5 per cent. The grocery and drugstore retailer said Wednesday the profit amounted to $1.31 per diluted share for the quarter ended…
