Browsing: Business

Toronto is on track to record its lowest number of annual housing starts in three decades, according to a new report from the Canada Mortgage and Housing Corporation (CMHC). The federal agency said housing construction activity in the city fell

Ontario will raise its general minimum wage to $17.60 per hour starting October 1, 2025, marking a 40-cent increase from the current rate of $17.20. The increase, announced by the Ontario Ministry of Labour, Immigration, Training and Skills Development, aligns

Prime Minister Mark Carney on Monday, September 8, announced an 80 million Canadian dollar tariff-relief fund for Atlantic Canadian businesses during a visit to St. John’s, Newfoundland and Labrador, as his government rolled out a broader economic defense strategy in

Canada’s merchandise trade deficit narrowed to CAD 4.94 billion in July 2025, down from a revised CAD 5.98 billion in June, according to data released by Statistics Canada. The improvement was driven by higher exports, particularly to the United States,

Canada has formally lifted the majority of its retaliatory tariffs on United States goods, significantly easing trade tensions that have persisted between the two countries since the imposition of reciprocal duties in recent years. The rollback, effective September 1, applies

Prime Minister Mark Carney announced the launch of the Major Projects Office on August 29, 2025 in Calgary, establishing a centralized federal body to expedite the development of large-scale infrastructure across Canada. The initiative follows the passage of the Building Canada Act

U.S. spirits giant Brown-Forman reported a sharp 62 percent decline in Canadian sales of its flagship brand Jack Daniel’s, attributing the drop to a widespread boycott of American alcoholic beverages across Canada. The impact, disclosed during the company’s quarterly earnings

The Canadian province of Alberta is projecting a C$6.5 billion budget deficit for the 2025–26 fiscal year, citing a steep decline in natural resource revenue, according to its first-quarter fiscal update released on August 28. The revised forecast marks a

Canada’s economy contracted at an annualized rate of 1.6 percent in the second quarter of 2025, marking its first quarterly decline in nearly two years, as exports plummeted under pressure from newly imposed U.S. tariffs. The data, released Thursday by

Top executives at Canada’s largest banks delivered a unified message of caution during third-quarter earnings calls held this week, highlighting how unresolved global trade tensions and shifting monetary policies are weighing on the economic outlook. Despite delivering stronger-than-expected profits, the