Canada Financial News

Canada is set to implement measures to curb the influx of temporary foreign workers for the first time, as announced by officials on Thursday. Ottawa aims to reduce the number of temporary residents to five percent of the population over the next three years, down from the current 6.2 percent, which translates to 2.5 million people. The proposed target will be solidified following consultations with Canada's provinces, some of which have expressed concerns over significant migrant inflows amid housing shortages and increased demands for services. Restrictions on temporary foreign worker permits are scheduled to commence on May 1. This decision comes on the heels of a recent announcement imposing a cap on new permits for international students and introducing visa requirements for certain Mexican travelers.

Canada’s competition watchdog is urging Ottawa to drop requirements for some borrowers to pass the mortgage stress test at renewal, arguing it limits Canadians’ abilities to shop around for a better rate.

Signs of progress in the Bank of Canada’s inflation fight are “very encouraging” to monetary policymakers, a deputy governor at the central bank says, but that’s not the only thing officials are looking at when gauging their interest rate path.

The Bank of Canada’s governing council seems to be growing in confidence that the central bank will be able to lower its benchmark interest rate sometime this year, but newly released documents show there’s concern among monetary policymakers about risks to their outlook.

Indian Premier league (IPL) 2024 will be played this year from March 22 when Chennai Super Kings play the Faf Du Plessis-led Royal Challengers Bengaluru at the iconic MA Chidambaram Stadium, Chennai. This is one of the biggest sports leagues in the world, coming in sixth overall in terms of viewership, according to a report. Cricket is keenly followed by countries across the world, mostly in Commonwealth countries. IPL is typically followed in many regions including Canada.

Canada’s big cities took the toughest knocks during the pandemic, as families fled to the suburbs and beyond and office buildings emptied out.

It’s 7 a.m. and the fresh cup of coffee in Adam Waterous’ hands isn’t providing him fuel to pump Strathcona Resources Ltd., which he built from scratch to become Canada’s fifth-largest oil producer prior to taking it public five months ago.

Two decades ago, rising gold prices launched a historic bull run in Canada’s gold mining sector. Now, bullion is popping to all-time highs again, but this time investors are fleeing gold miners’ stocks in droves.

TORONTO — Royal Bank of Canada is planning to turn its soon-to-be-acquired HSBC Bank Canada properties into RBC locations immediately after taking ownership.

There were several items that came out of the fourth-quarter national balance sheet data in Canada that leave us with a view that any positive “wealth effect” on spending is subsiding, that households are hunkering down and sharply reducing their appetite for debt, and that the Bank of Canada is going to end up having to cut rates sooner and harder than the United States Federal Reserve, with negative repercussions for the listless loonie.

By Nivedita Balu

Canadians with extra spending cash right now might find they can score deals on clothing, some discretionary items and higher-ticket purchases as experts say retailers are fighting harder for consumers’ dollars.

Canada’s British Columbia Provincial Nominee Program is set to undergo major changes, “to create clearer pathways for international workers to B.C.” The province is updating the BC Provincial Nominee Program (BC PNP) selection criteria to better reflect the level of education, experience and language skills that set people up for career success in British Columbia. The program updates align with new measures to protect international students from predatory institutions and recruiters, such as:

When it comes to happiness worldwide, Canadians appear to be a pretty content bunch, according to the 2024 World Happiness Report.

Some Canadians who opened a first home savings account (FHSA) in 2023 have faced delays getting their tax return processed by the Canada Revenue Agency, a government spokesperson confirmed to Global News.

Gurpatwant Singh Pannun on American soil, according to the Biden administration. An Indian national, Nikhil Gupta, was charged by federal prosecutors in November last year in connection with his involvement in a foiled plot to assassinate Pannun, who holds dual citizenship of the US and Canada. US federal prosecutors have charged that Gupta was working with an Indian government employee and had agreed to pay an assassin USD 1,00,000 to kill Pannun, who lives in New York City. India has already constituted a probe committee to investigate the allegations.

Brenda O’Connor Juanas is different than most financial advisors in the US. As a citizen of both Canada and the US, she’s able to offer her Canadian clients the best of both worlds.

Mark Holland, delivered a powerful message on Wednesday to tobacco companies attempting to market nicotine pouches to children: “Stay the hell away from our kids.”Speaking to reporters in Ottawa, Holland argued that flavoured nicotine pouches are attracting young Canadians into a dangerous addiction and emphasized the need for stringent regulations to protect the youth from the harmful effects of tobacco products.“I am seeking authority to restrict products so they are solely for the purposes of cessation,” he said. “We shouldn’t see flavours that are targeting kids, flavours like ‘Winter Berry Splash.’ We all see through it, we all what the intention is, and it’s over.“Whatever dark corner the tobacco industry crawls and creeps into to go after our children, whatever loophole they think they can find, they will meet me like an iron wall.”Nicotine pouches, positioned between the upper lip and gum, resemble Swedish-style snus but lack the tobacco leaf.

By Promit Mukherjee and David Ljunggren

Spring is officially underway in Canada, and for some it may mean deciding whether this could be the year to buy a cottage or cabin.

Federal prosecutors in New York say two men are charged with starting a business in China using battery manufacturing technology pilfered from Tesla and trying to sell the proprietary information