Canada Financial News

Mining giant Rio Tinto Ltd. “would love” to produce lithium in Canada, given the right project, says chief executive Jakob Stausholm.

The Bank of Canada is expected to preach patience at its interest rate announcement this week as economists say weakening economic conditions are setting the stage for rate cuts in the coming months.

Canada’s biggest grocers are investing money and space in discount stores such as No Frills, Food Basics and FreshCo as shoppers look for ways to save on food amid the higher cost of living.Converting grocery stores to discount is a relatively easy move, experts say, and one that is helping the grocers keep profits steady despite consumers seeking ways to rein in their spending.“There’s all sorts of things that … people are doing, but one of them is looking for cheaper options. And so they are going to discount stores,” said Michael von Massow, a food economy professor at the University of Guelph.Each of the major Canadian grocers has several different store brands, also known as “banners” — from high-end to conventional to discount.

Biocon Biologics on Monday said it has inked a patent settlement agreement with Bayer Inc and Regeneron Pharmaceuticals Inc, paving the way for it to launch a biosimilar product in Canada. The settlement pact paves the way for the introduction of Yesafili, a proposed biosimilar to Eeylea (aflibercept) injection, in the Canadian market, Biocon Biologics said in a regulatory filing. Under the terms of the agreement, Biocon Biologics has secured a launch date for the product no later than July 1, 2025, it added.

A federal judge is delaying the implementation of a voter-approved law in Maine that aimed to close an election law loophole to stop foreign government spending on referendums

Brazil’s economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva

Firefighters from several departments rushed to the scene of a large fire at the Covered Bridge Potato Chips factory in the New Brunswick town of Hartland on Friday evening, as heavy smoke and flames filled the air across the Trans-Canada Highway.

Alberta Premier Danielle Smith is remembering former prime minister Brian Mulroney as a politician who understood her province’s interests.

OpenAI’s ChatGPT is promptly met by a response that is confident, coherent and just plain wrong. In an AI model, such tendencies are usually described as hallucinations. A more informal word exists, however: these are the qualities of a great bullshitter.

It’s been two years since the Bank of Canada started the most aggressive interest rate hike campaign in its history in a bid to tame rampant inflation, and the Canadian economy looks vastly different.

By Divya Rajagopal

By Kyaw Soe Oo

WestJet and Air Canada has gone up.For those who purchased an economy basic or standard fare with Air Canada on or after Feb. 28 for travel within Canada or to the U.S., the Caribbean, Mexico or Central America, the fee went up $5, from $30 to $35 for the first bag and to $50 for a second bag.For WestJet tickets purchased on or after Feb.

With 2024 in full swing, most working Canadians are likely feeling the impact of higher federal payroll taxes on their paycheques.

By David Shepardson

The Canadian economy has dodged a recession as gross domestic product edged up in the fourth quarter last year, primarily due to higher exports of crude oil and reduced imports, making it likely the Bank of Canada will stick to its plan of holding interest rates when it makes its next announcement on March 6.

The swift rise in Bank of Canada interest rates over the past two years has forced millions of potential homebuyers to the sidelines.

Canada’s largest banks took higher provisions for credit losses and classified more loans as impaired in their fiscal first quarters, but showed resilience in other areas, an indication that the country’s lenders are weathering a softening economy brought on by higher interest rates.

The Bank of Canada’s next rate-setting verdict is just six days away. Wake me up if something happens.

Toronto-Dominion Bank beat analysts’ estimates on an increase in revenue driven by strength in both its capital-markets unit and growth in loans and deposits in the lender’s domestic retail business.

First, the good news: Canada’s economy closed 2024 in slightly better shape than was expected, with real gross domestic product growth inching up to a one per cent annual rate (consensus was 0.8 per cent) in the fourth quarter, while the third quarter was revised to a “less negative” print of minus 0.5 per cent from minus 1.1 per cent in the initial report.