Canada Financial News

The profligate Trudeau government is proposing a tax reform to ensure fair tax contributions from all, but in reality it’s nothing more than a stealth tax hike designed to fill government coffers at the expense of Canadian charities. The tax grab is coming by way of proposed changes to the alternative minimum tax (AMT), and the country’s donors and charity fundraisers are upset.

Ottawa plans on expanding its clean technology and electricity tax credits to include heat and electricity produced by burning biomass, as outlined in its fall economic statement.

Telsey Advisory Group expects Costco (NASDAQ:COST) to post a solid November sales report after the close on Wednesday, November 29, the firm said in a note Monday.

rainfall increases under global warming, according to a study published Monday that signals a future of more frequent catastrophic floods unless humanity curbs greenhouse emissions. It comes as countries prepare to meet at the COP28 summit in Dubai beginning later this week, amid fears it could soon be impossible to limit long-term warming to the 1.5 degrees Celsius scientists say is necessary to curb the worst effects of human-caused climate change. Researchers from the Potsdam Institute of Climate Impact Research (PIK) looked at the intensity and frequency of daily precipitation extremes over land in 21 «next generation» climate models used by a UN body in its global assessments. They then compared the changes projected by the models with those observed historically, finding that nearly all climate models significantly underestimated the rates at which increases in precipitation extremes scaled with global temperature rise. «Our study confirms that the intensity and frequency of heavy rainfall extremes are increasing exponentially with every increment of global warming,» said Max Kotz, lead author of the paper published in the Journal of Climate. The changes track with the Clausius-Clapeyron relation in physics, which established that warmer air holds more water vapor.

In the wake of high inflation, Canadians find themselves facing a twofold dilemma, one that not only burdens their wallets but also takes a toll on their mental health, according to a recent Ipsos poll.

PricewaterhouseCoopers International Ltd., the global accounting firm, has cut its workforce in Canada by two per cent as sustained high interest rates push the nation’s economy toward a recession.

Credit losses and expense controls will be closely watched when Canada’s big banks begin to roll out fourth-quarter earnings on Nov. 28, results that come as households and businesses contend with higher interest rates and the economic outlook casts a cloud over revenue growth expectations.

A meandering benchmark index and a slew of companies going private have left Canada’s capital markets in a precarious position.

Dylan Smith, senior economist at Rosenberg Research, talks with Financial Post’s Larysa Harapyn about how the looming mortgage renewal crunch may force the Bank of Canada to cut interest rates sooner rather than later.

Anita Anand says Canada is at a point where it needs to “watch our purse strings” when it comes to spending, but adds the federal government is “striking the balance” between fiscal responsibility and supporting Canadians.That approach is not just being taken with addressing cost-of-living issues like affordable housing — a key focus of last week’s fall economic statement — but also national defence, a portfolio Anand previously led and says will not be impacted by efforts to cut costs in Ottawa.“It certainly is an economic period where we need to watch our purse strings as well as to make sure we’re delivering on the priorities that are so important for our country,” she told Eric Sorensen in an interview that aired Sunday on The West Block.She called the measures introduced in Tuesday’s fiscal update “targeted” toward building more homes faster.Tuesday’s update adds $20.8 billion in new spending since the spring budget over five years, with some new measures designed to boost the housing supply, including rental units and affordable housing.

The cryptocurrency mining company Hive Digital Technologies revealed plans to expand its global presence through a new acquisition of property and a data center in Boden, Sweden.

Canada’s justice minister is considering options raised by the independent adviser on unmarked graves, who says Indigenous leaders want Canada to move on criminalizing residential school denialism.

Taranjit Singh Sandhu was mobbed and heckled by a group of pro-Khalistani elements while on a visit to the Hicksville Gurdwara in Long Island, New York. The Ambassador had gone to the Gurdwara to offer prayers on the occasion of Gurpurab. According to a purported video shared on various social media accounts, Sandhu can be seen being confronted by extremist elements who were making statements about India designated terrorists Hardeep Singh Nijjar and Gurpatwant Singh Pannun. The Indian envoy could be seen leaving the premises in his vehicle, while a lone protestor raised the Khalistani flag outside the Gurdwara. Indian envoy to the US Taranjit Sandhu had visited the Guru Nanak Darbar in Long Island, New York and joined the local Sangat to celebrate Gurpurab. «Privileged to join the local Sangat, including from Afghanistan, at Guru Nanak Darbar of Long Island in celebrating Gurpurab- listened to Kirtan, spoke about Guru Nanak's everlasting message of togetherness, unity, and equality, partook langar, and sought blessings for all,» Sandhu posted on X (formerly Twitter). There has been a rise in pro-Khalistani incidents by extremist elements in countries like Canada, the UK, Australia and even the US. In a shocking incident in July, a group of Khalistan extremists had indulged in an arson attack on the Indian consulate in San Francisco. After a probe was launched into the incident, India requested evidence from the US authorities regarding suspects of the attack under the Mutual Legal Assistance Treaty (MLAT) in connection with the case. In a separate incident in March, the Indian Consulate in San Francisco came under attack from suspected Khalistani elements.

ANI, both shooters were arrested in the Mayur Vihar area. As reported by India Today citing police, the shooters had planned to attack a Punjabi singer.

Booker Prize for fiction on Sunday with what judges called a «soul-shattering» novel about a woman's struggle to protect her family as Ireland collapses into totalitarianism and war. 'Prophet Song,' set in a dystopian fictional version of Dublin, was awarded the 50,000-pound ($63,000) literary prize at a ceremony in London. Canadian writer Esi Edugyan, who chaired the judging panel, said the book is «a triumph of emotional storytelling, bracing and brave» in which Lynch «pulls off feats of language that are stunning to witness.» Lynch, 46, had been the bookies' favourite to win the prestigious prize, which usually brings a big boost in sales.

salmonella outbreak linked to cantaloupes and pre-cut fruit products has caused at least two fatalities and severe illness in dozens of individuals, prompting heightened concern from leading US health authorities, according to a Fox report. The US Centers for Disease Control and Prevention (CDC) has reported 99 cases of illness, with 45 hospitalizations and two confirmed deaths. The outbreak has expanded to 32 states and Canada, with new cases emerging in 17 additional states. The latest onset date recorded was November 10. Consuming food contaminated with salmonella can lead to food poisoning within 12 to 72 hours, resulting in symptoms lasting 4 to 7 days. These symptoms include diarrhea, fever, and abdominal cramps. Severe infections are more likely in individuals with weakened immune systems, the elderly, and children under five years of age. Individuals experiencing symptoms are advised to contact their healthcare provider to report their symptoms and seek appropriate care. US health officials recalled three more brands of whole and pre-cut cantaloupes Friday as the number of people sickened by salmonella more than doubled this week. The US Food and Drug Administration's original recall included Malichita brand whole cantaloupe, Vinyard brand pre-cut cantaloupe and ALDI whole cantaloupe and pre-cut fruit products. Rudy brand whole cantaloupes and Freshness Guaranteed brand and RaceTrac brand pre-cut cantaloupes joined the list Friday. Health officials say anyone who bought the recalled fruits should throw them away and wash surfaces that touched them with hot, soapy water or in a dishwasher.

NEW DELHI : Halloumi, the globally renowned, distinctive variety of cheese produced in Cyprus, had the country’s government saying there’s no moving their cheese. Cyprus successfully restrained an Indian entity from getting Halloumi registered as a trademark in India. The government of Cyprus objected to Ahmedabad-based Flavi Dairy Solutions’ application to register a figurative trademark containing the expression ‘Halloumi’.

₹2.59 lakh crore in the five recently concluded mainboard initial public offerings (IPOs). The week-long bidding frenzy gripped investors as the five companies -Tata Technologies Ltd., Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd, and Indian Renewable Energy Development Agency (IREDA) Ltd sustained the IPO pulse in India's primary markets. Read more The Indian civil aviation regulator Directorate General of Civil Aviation has issued an advisory to Indian airlines on Global Navigation Satellite System (GNSS) interference in airspace.

George Cohon, the man who brought McDonald’s to Canada, and later Russia, has died according to a post on social media from his son, Mark Cohon.

A string of fruit-related recalls have been issued in Canada over the past couple of months amid an outbreak of salmonella infections across the country.

Iggy Azalea has made a name for herself. The singer over the years has given various hits. In the world of hip-hop, Azalea has paved her path by enthralling her fans with an undeniable blend of talent, and charismatic personality. Born on June 7, 1990, in Sydney Australia, Iggy moved to the US to work on her musical career. The singer began her musical journey when she released her mixtape Ignorant Art in September 2011. Later, in 2014, Iggy released her first album named 'The New Classic'. The album was initially supposed to be released in 2013. However, due to unknown reasons, the release got delayed. One of the most famous songs from the album The New Classic was "Fancy". The single featured British singer-songwriter Charli XCX, and in no time the single churned massive numbers in both the US and Canada. Further, 'Fancy' went on to become the fourth-best performing song of 2014, according to the US Billboard Hot 100.