Canada’s Bank of Montreal on Tuesday reported quarterly profit below analysts’ estimates, its sixth miss in a row, hurt by weakness in its U.S. retail segment and as the lender made bigger than expected provisions for potential bad loans. Meanwhile, peer Bank of Nova Scotia, Canada’s fourth largest bank by market capitalization, reported better than…
Hot on the heels of a Canada-wide rail shutdown, a potential strike at U.S. seaports on the East Coast and Gulf of Mexico is threatening to further disrupt supply chains. The International Longshoremen’s Association (ILA), which represents roughly 45,000 dockworkers at three dozen seaports from Texas to Maine, have threatened to walk off the job on…
Canadians filling up their tanks ahead of the long weekend can expect to see reduced gas prices — a trend that has continued for much of the summer, experts say. Nationally, the average price for regular unleaded gas stood at $1.56 per litre on Thursday, according to fuel price tracking website GasBuddy.com. As of 1 p.m….
Even as the trains start to chug again along Canadian railways, there are fears of another labour dispute among pilots at Air Canada grounding jets across the country in just a few weeks’ time. It hasn’t just been a summer of strikes in Canada: a wave of job actions in recent years has swept across…
A growing number of men and women in Canada’s working-age population are getting unemployment benefits, recent data shows. Statistics Canada reported on Thursday that the number of men aged 25 to 54 years old who received regular Employment Insurance benefits increased by almost 13 per cent in June compared to the same time last year. On a monthly…
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a…
As questions swirl around how long Canadian rail lines might stay dormant, some economists argue that the Bank of Canada ought to look past any disruptions as it looks to tame inflation and ease pressure on the stagnant economy. The federal government on Thursday waded into a rail shutdown that began earlier that day, promising…
Canada’s railway shutdown has halted freight trains nationwide, raising concerns about a potential critical shortage of essential goods, including chlorine needed for safe drinking water. Health Minister Mark Holland acknowledged that while it’s too early to determine if a potential chlorine shortage will affect Canada’s drinking water supply, the government will continue to monitor the…
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…
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…
