Canada Financial News

Canadians are contributing less to a tax-free savings account (TFSA) while basic monthly living expenses have increased, according to a new survey by BMO.

Quaker Oats Company and PepsiCo Canada after its Quaker products were recalled in Canada due to potential salmonella contamination.Slater Vecchio LLP launched the lawsuit “on behalf of all persons in Canada” who purchased any of the 38 Quaker products that were recalled, or those who believe they got sick after eating the products.The Canadian Food Inspection Agency issued the initial recall on Jan. 11, 2024, for 38 Quaker products, including granola, cereal, and then later recalled over 30 yogurt and parfait products that contained Quaker granola.“Canadians trust manufacturers to produce packaged foods that can safely be consumed without the risk of illness from contamination,” Sam Jaworski, a partner at Slater Vecchio LLP, said in a statement.“Through a class action, Canadians can access justice to hold suppliers accountable through strength in numbers, even if it would not be economical to pursue a lawsuit at the individual level.”Slater Vecchio LLP is seeking to identify those who believe they got sick from the recalled products, and say they can be contacted here.Salmonella is a bacterial infection commonly transmitted through contaminated food and water and poses a significant health threat, especially to children and older adults, as it can lead to severe gastrointestinal symptoms, dehydration, and, in extreme cases, death.“Salmonella is one of the most prolific pathogens we know,” Keith Warriner, a food safety professor from the University of Guelph, previously told Global News.

Canadian cities need to relax their zoning policies if they want to tap into billions in federal funds available for new home construction. That was one of the messages delivered by Sean Fraser, the federal minister of housing, to a lunchtime audience at the Empire Club of Canada in Toronto on Jan. 17. Here are three key take-aways from the event.

Stagflation could rear its head in Canada as geopolitical events coupled with a downbeat business outlook threaten to play havoc with the Bank of Canada‘s best-laid plans for getting inflation under control and cutting interest rates, suggests one economist.

By Nia Williams and Sabrina Valle

The Canadian Securities Administration (CSA), the country’s securities watchdog, has proposed new regulatory requirements for public investment funds that looks to invest in crypto assets.

respiratory illnesses surge across the country, the persistence of a cough that just won’t quit may be prompting some to wonder if there is a deeper underlying issue.This lingering cough is what Nicholas Vozoris, an assistant professor and staff respirologist at Saint Michael’s Hospital, University of Toronto, calls a “post-infectious cough” and it can last as long as eight weeks.“This is a cough that seems to linger after the other infectious symptoms settle down,” he said. “And this post-infectious cough is known to possibly occur with viral or bacterial respiratory tract infections.”While doctors like Vozoris have long been familiar with post-infectious cough as a condition, he believes it may not be widely recognized by the public.He noted that many patients are often surprised when hearing about this diagnosis.

India-Canada Row: India’s High Commissioner to Ottawa Sanjay Kumar Verma has said that Delhi could assist in investigating the links to gangs operating in Canada, and conducting extortion targeting Indo-Canadians. However, the envoy set a ride – “if there is a formal request from Ottawa along with evidence".

recently certified class action lawsuit is seeking at least $1.2 billion from multinational company Bayer on behalf of Canadians who claim to have been harmed while using Roundup weedkiller products.The allegations have not yet been tested in court and Bayer says it stands behind the safety of the products.Roundup, the brand name of a glyphosate-based herbicide that is the subject of the lawsuit, is the most commonly used herbicide in the world and has been sold across Canada since 1976 by U.S. company Monsanto. The German pharmaceutical giant Bayer acquired Monsanto in 2018.About 165,000 claims have been filed in the U.S.

Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation.Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central bankers ought to adapt their approaches for the modern economy.He said the current regime has been successful so far in taming the ongoing inflationary period, as some of the supply shocks following the height of the COVID-19 pandemic and Russia’s invasion of Ukraine have unwound and higher interest rates globally have limited demand in the world economy.But he warned that central bankers cannot rest on their laurels amid ongoing geopolitical tensions and a changing economic context.“We are in a world, I would suggest, where we are going to see additional supply shocks with some relatively high degree of certainty with some persistence,” Carney said.“Effectively, the world is being rewired.”Though Carney did not directly reference Houthi attacks in the Red Sea forcing companies to divert cargo away from the key shipping corridor, he said trade routes are being “rewired” to “derisk” global supply chains.Energy systems, too, are being rewired to address climate change concerns, Carney said.

This week’s inflation “setback” was not great news for anyone hoping for a Bank of Canada rate cut sooner rather than later.

Canadians are grappling with “payment shock” and Americans are not, and that will put the two countries’ economies on diverging paths to start 2024, according to the chief executive of Canada’s largest bank.

For the first time in more than two decades, the Canada Revenue Agency’s prescribed interest rate for overdue taxes has hit double digits — 10 per cent for the first quarter of 2024. The last time the prescribed rate was so high was back in mid-2001.

As a child growing up in Canada’s northernmost community, P. J. Akeeagok wanted to be a water truck driver.

More than a half a million beds sold at retailers like Walmart and Wayfair are under recall because they can break during use, which has resulted in dozens of injuries

Sustainable energy use for Bitcoin (BTC) mining reached an all-time high of 54.5% in 2023, a 3.6% increase throughout the calendar year.

Royal Bank of Canada’s Chief Executive Dave McKay is eyeing expansion in the US market through the bank’s capital markets franchise. 

Speaking at a campaign stop in New Hampshire, the former president and Republican party leadership race front-runner told a crowd: "As your president, I will never allow the creation of a central bank digital currency."

A man who is accused of attacking three women during two separate incidents in Halifax had been released from custody on unrelated charges just days before.Gamon Jay Leacock, 49, is facing numerous charges, including aggravated sexual assault, unlawful confinement, robbery, and breaking and entering, after two women were sexually assaulted at a home Monday.According to Halifax Regional Police, a man entered a home on Clifton Street in Halifax and confronted two women with a brick and a broken bottle before confining them in a bedroom and sexually assaulting them. They managed to escape, and the man was arrested shortly after.Just before the home invasion, police also investigated a carjacking incident that they allege involved the same suspect.

For thousands of small businesses, it’s time to pay up. Thursday marks the federal government’s deadline for firms to repay pandemic-era debt to get relief on their Canada Emergency Business Account (CEBA) loans.

Prime Minister Narendra Modi on Thursday unveiled Commemorative Postage Stamps on Shri Ram Janmbhoomi Mandir and a book of stamps related to Lord Ram worldwide. The stamps feature various components, including the Ram Mandir, Choupai 'Mangal Bhavan Amangal Hari', the Sun, Sarayu River, and sculptures in and around the Temple. The collection comprises six stamps depicting Ram Temple, Lord Ganesh, Lord Hanuman, Jatayu, Kevatraj, and Ma Shabri.