Canada Financial News

15.05 / 12:55

markets COST CEO Tesla reports Ford losing $100,000 per every electric vehicle: Report

Ford Motor Co is reportedly losing whopping $100,000 per every electric vehicle. According to Bloomberg, Ford has begun cutting orders from battery suppliers to stem the losses. Quoting officials, Bloomberg reported that the company «have slashed thousands in costs from their EVs to try to make them profitable, but they’ve also had to slash prices to remain competitive against market leader Tesla Inc., which has aggressively discounted its models».

15.05 / 09:07

markets Trade 2020 reports Infosys slapped over CAD 130K fine by Canada citing health tax underpayment

₹82 lakh) for underpayment of the employee health tax for the fiscal year ending December 31, 2020. Infosys disclosed in a regulatory filing that it received the order from Canada's Finance Ministry on May 9. “Penalty imposed on alleged underpayment of Employee Health Tax for the year ended December 31, 2020," as per the filing.

15.05 / 07:53

COST UPS FIVE country reports testing Could 10-year mortgage terms help ease ‘payment shock’ for Canadians? What to know

Many Canadian homeowners have felt the pain of higher interest rates when it’s come time to renew their mortgage, but a new report from Desjardins says if 10-year terms were more prevalent and attractive, it could have helped lessen the “payment shock.”

15.05 / 04:39

UPS Actor show folk stars Interviews Kelly Clarkson reveals she used weight-loss medication for ‘bad’ bloodwork

Kelly Clarkson has revealed she used a weight-loss medication to improve her health — but she wants people to know it’s not Ozempic.

15.05 / 02:59

markets UPS Trade show country evacuation Oil prices up on wildfires in Canada, US inventories drawdown expectations

Oil prices rose in early trade on Wednesday as large wildfires were threatening Canada's oil sands and as the market expected U.S. crude oil and gasoline inventories to show a drawdown later in the day. Brent crude futures were up 34 cents, or 0.4% at $82.71 a barrel. U.S. West Texas Intermediate crude futures (WTI) rose 38 cents, or 0.5%, to $78.39 a barrel by 0016 GMT.

14.05 / 17:48

Booking Forbes Death President Universities ACADIA 2020 Arthur Irving, who grew his family's oil business and was one of Canada's richest men, dies at 93

Canadian billionaire Arthur L

14.05 / 14:33

UPS Provident FIVE CEO Entertainment wellness President CRTC grants Canadian content spending relief for Corus, but says other asks must wait

Canada’s broadcasting regulator has granted Corus Entertainment Inc.’s request to ease some of its Canadian content spending requirements after the company warned of an increasingly dire financial situation.

14.05 / 12:59

markets UPS Matthews Hudson reports International RBC global investment-banking unit taps Stopnik to lead

Royal Bank of Canada has adopted a global structure for its investment-banking business and tapped Matthew Stopnik to head up the division.

14.05 / 12:59

markets UPS Provident Platform security performer reports RBC poised to outperform rivals thanks to HSBC deal, say analysts

Exposure to more fee-based revenue from the acquisition of HSBC’s Canadian franchise is likely to boost Royal Bank of Canada’s performance relative to other domestic banks when they begin releasing second-quarter earnings next week, according to analysts at Jeffries Securities Inc.

14.05 / 12:59

UPS Moodys show country folk inclusion information NOT Capital gains inclusion rate proposal should be delayed, if not scrapped altogether

It’s been almost a month since the Canadian federal budget was released and the long tail on budget articles and comments is normally not that long — perhaps a few days or a week at best.

14.05 / 12:59

FIVE economy Opinion track inclusion reports rights Wealthy Canadians sour on state of economy in wake of capital gains tax changes, poll finds

Ottawa’s changes to the capital gains tax appear to have gotten under the skin of Canada’s wealthiest wage group, an ongoing poll that tracks the financial outlook of Canadians suggests.

14.05 / 12:59

markets UPS economy pandemic country reports shock Posthaste: How Canada could have avoided the mortgage payment shock now ripping through the economy

Canada ranks among the countries hardest hit by higher interest rates in the developed world, but a new report says it didn’t have to be that way.

14.05 / 04:45

Provident FIVE Mobile community Diversity TELUS reports Be ready ‘for anything’ after wildfires hit telecom lines, official warns

Wildfires continue to rage across parts of western Canada and this past weekend, some communities were left without a way to communicate through internet or phone after fibre optic lines were damaged by the flames.

14.05 / 02:07

markets UPS Racing country reports Oil prices tick up on tighter supply outlook

Oil prices rose on Tuesday as the supply-demand balance looked set to tighten on operational disruptions, stronger demand and voluntary output cuts. U.S. West Texas Intermediate crude futures rose 18 cents to $79.30 a barrel by 1224 GMT. Brent crude futures gained 19 cents, reaching $83.55 a barrel.

13.05 / 17:19

COST Provident Election reports Department Trudeau abandons tax threat on apartment owners, REITs

Prime Minister Justin Trudeau’s government pulled back on a threat to hit some real estate investment trusts in Canada with a new tax regime after opposition from the industry.

13.05 / 17:19

markets pandemic Cycling show performer country reports Posthaste: This province's growth plunged and it's still whomping the rest of Canada

Alberta has been a powerhouse in Canada since the pandemic, with country-beating growth and a housing market that has stood strong while others slumped under the weight of higher interest rates.

13.05 / 17:19

markets economy wellness Trade President reports politician Declining Canadian economy, dollar mean investors should add protection to their portfolios

There is a lot of uncertainty for the average Canadian these days, including trying to navigate a complex macro-economic environment that is already starting to have a material impact on their overall financial well-being.

13.05 / 17:19

markets Manufacturing economy Trade country stars 'Breakdown nations' like Canada have a lesson for the world

By Ruchir Sharma

13.05 / 17:19

Provident Target FIVE pandemic 2020 reports mountaineering Canadian banks provided US$100 billion in fossil fuel funding: report

TORONTO — Canadian banks provided almost US$104 billion in fossil fuel funding last year despite the urgent need to reduce emissions, says the latest annual Banking on Climate Chaos report.

13.05 / 17:19

markets Chevron Universities prevention mountaineering Suncor, Chevron among oilsands giants pushing Trans Mountain to alter specifications

Oil companies including Chevron Corp., Canadian Natural Resources Ltd. and Suncor Energy Inc. are pressing the operators of the expanded Trans Mountain pipeline to change certain key specifications to improve the value of the crude the conduit is carrying.

13.05 / 17:11

2020 Canada govt imposes Rs 82 lakh penalty on Infosys for alleged underpayment of tax

government has imposed a penalty of over 1.34 lakh Canadian dollars (about Rs 82 lakh), on IT company Infosys for alleged underpayment of employee health tax for the year ended December 31, 2020, a regulatory filing said. Infosys received an order from Canada's Finance Ministry on May 9.

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