Canada Financial News

The Bank of Canada holds the cards for a better year ahead after Canadians’ personal finances were hit hard in 2023, according to the latest version of a multi-year survey of household finances and the state of the economy.

The Bank of Nova Scotia will reallocate capital from developing markets to developed ones, prioritizing Canada, the United States and Mexico in that order, as it seeks to bolster profitability and shareholder returns, chief executive Scott Thomson said Dec. 13 as he unveiled a much-anticipated strategic update.

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

Martin Thibeault‘s story unfolds as an awe-inspiring journey full of transformation, resilience, and an unyielding pursuit of financial sovereignty woven into the rich tapestry of life. Martin’s extraordinary journey takes him from the familiar landscapes of carpentry to the dynamic realms of network marketing, sculpting a narrative marked by profound personal growth and triumphant professional success.

A federal judge is set to consider a request by Colorado’s cattle industry to block the impending reintroduction of gray wolves to the state under a voter-approved ballot initiative

A new report says more Canadian businesses are missing debt payments.

housing plan to ignite the pace of home construction in Canada.Housing Minister Sean Fraser on Tuesday confirmed Global News’ report from Monday that the minority Liberals were taking the nearly 80-year-old program off the shelf and revamping it.The program, which was run by what was at the time known as Wartime Housing Ltd., provided standardized housing blueprints to builders.“In many instances, these homes were being built in a period of about 36 hours, and we intend to take these lessons from our history books and bring them into the 21st century,” Fraser told reporters in Ottawa.“We are going to be moving forward with a catalogue of pre-approved designs at the federal level.”Fraser added the government will begin consultations on the matter in January, with the goal to have them available for developers next fall.The program from Wartime Housing and its successor, Canada Mortgage and Housing Corp.

AI is having a significant impact on both present and future generations. We must proceed with extreme caution. I believe that the suggestions and ideas emerging from this summit will help us safeguard the world from the potential risks and challenges posed by the darker aspects of AI," PM Modi said while addressing the summit.

Prime Minister Justin Trudeau’s government must refocus spending on boosting investment instead of consumption to address Canada’s sluggish productivity growth, argues a new report co-written by former Bank of Canada governor David Dodge.

Canadian wireless company Rogers Communications Inc. sold its stake in a rival telecommunications operator to Quebec’s largest pension manager, raising more than $829 million to repay debt in an effort to keep its investment-grade rating.

Priyanka Chaturvedi said Khalistani terrorists are increasingly seen emboldened on foreign soil and are threatening the country, and a firm message should go through Parliament that India will not tolerate such activities. «We need to take note of the threats by them and act accordingly.

Sun Pharmaceutical Industries share price, having gained 56% in the last six months, declined 1.91% in intraday trades on Tuesday. Sun Pharma remains in focus over its plan to acquire 100% ownership in its US subsidiary Taro Pharmaceutical Industries. Sun Pharma, after having announced its strategic plan in May 2023 to acquire 100% ownership of Taro now has increased its bid to purchase the outstanding shares of Taro Pharma.

Canada continues its work towards net-zero carbon emissions, including through its mandate for at least 20 per cent of car sales to be electric vehicles (EVs) by 2026, a new report showing a declining interest in the products is raising questions whether that goal is doable.On Monday, AutoTrader.ca released its 2023 top search data into some of the most popular vehicles searched on their marketplace this year and while it showed a rise in popularity of trucks, the number showing an intent to purchase an EV has declined from one year prior.In 2022, the data found about 68 per cent of car shoppers who did not own an EV showing an intent to purchase one amid the record high gas prices faced and the growing inflation.

Nearly 80 years after it was first brought in, Global News has learned the federal government is reviving a Canada Mortgage and Housing Corporation (CMHC) program to provide standardized housing blueprints to builders, according to a senior government source.

Infosys Infosys on Monday said its CFO Nilanjan Roy has resigned from the company to pursue other personal aspirations.

Azure Power Global, owned by Canada's CDPQ and OMERS Infrastructure, has received support from 99% of bondholders for its proposal to repurchase a portion of bonds issued by two of its units at their face value. The company had on November 28 initiated a consent solicitation process to buy back bonds with a total value of $60 million issued by two special purpose vehicles: Azure Power Solar Energy and Azure Power Energy, as reported by ET. Proposal looked to amend certain terms for 2024 and 2026 notes.

Profits in the Canadian grocery sector will likely exceed $6 billion in 2023, setting a new record as they rise eight per cent from last year, according to the Centre for Future Work.

Leah Zlatkin, mortgage broker and Lowest Rates expert, talks with Financial Post’s Larysa Harapyn about the impact a Bank of Canada rate cut could have on Canada’s real estate markets and the different strategies to handle the dynamics based on what stage you are at in your homebuying journey.

Canada’s economy is stalling, the unemployment rate is rising and housing costs are crushing some households. The country’s banks are exposed to all of that, yet their shares are surging.

The growing burden of mortgage payments as homeowners renew under much higher interest rates has roused concern from policy makers to politicians.

Now could be a great time to buy a home if you are ready to enter the housing market, says an industry expert.