Canada Financial News

Canada’s top banking regulator held the domestic stability buffer (DSB) at 3.5 per cent on Tuesday after a review of the “rainy day” funds the country’s largest banks must keep aside to absorb unexpected financial shocks.

The rate of inflation slowed to 1.9 per cent in November, once again slipping under the Bank of Canada target of two per cent.

Normally when the days get colder, the housing market goes into hibernation, but apparently not this year.

The annual rate of inflation slowed to 1.9 per cent in November, Statistics Canada said Tuesday.

Bird flu, specifically the H5N1 strain, is raising global health concerns due to its potential to mutate and pose a serious threat to humans. While current human infections remain low-risk and largely mild, experts warn of the importance of preparation to avoid a future pandemic. The virus, which has devastated bird populations and affected mammals like sea lions and dairy cows, could mutate to spread human-to-human, a scenario health authorities are closely monitoring. The H5N1 strain has increasingly been found in mammals, with confirmed mammal-to-mammal transmission among dairy cows in the U.S. Though the strain is currently unable to spread human-to-human, a single mutation could enable this, making it a top pandemic threat. Reports highlight mild symptoms in recent human infections in the U.S., contrasting with severe cases in other regions, such as Canada, where a teenager remains hospitalized due to H5N1 pneumonia. Also Read: This wonder drug keeps Wall Street's bankers going for 90 hours a week; what is it, and why is it in massive demand?

After years of lagging returns and more recent concerns over U.S. office loans, Canadian Imperial Bank of Commerce has turned a corner with investors. Chief executive Victor Dodig says he won’t put that at risk with acquisitions that reduce shareholder value.

The Canadian Real Estate Association (CREA) says the number of homes sold in November rose 26 per cent compared with a year ago, marking the second straight month of large year-over-year gains.

Canadian Prime Minister Justin Trudeau is facing the biggest test of his political career following the resignation of Finance Minister Chrystia Freeland, long one of his most powerful and loyal ministers

The resignation of federal Finance Minister Chrystia Freeland was met with shock and concern in Canada’s business community Monday, with some leaders worried that political infighting at the highest levels of the Liberal government could distract from the country’s economic problems and preparation for a potential trade battle with the United States.

The federal government broke its key fiscal guardrail and posted a deficit of $61.9 billion for the 2023-2024 fiscal year, according to the fall economic statement released on Monday, blowing past the $40.1 billion level at which it promised to keep the deficit.

Canada Post workers are set to return to their routes on Dec. 17, following a decisive ruling by the Canada Industrial Relations Board (CIRB). But as the clock ticks toward the holidays, Canadians are left wondering: what happens to the mountains of undelivered mail, t he fate of delayed Christmas packages, and the unresolved contract negotiations between the Crown corporation and the Canadian Union of Postal Workers (CUPW)? Here are answers to some of Canadians’ most pressing questions: 

In the lead-up to the stunning resignation of Chrystia Freeland as Canada’s minister of finance, the story provided by the mysterious sources not authorized to leak secrets to the media was that Freeland and Prime Minister Justin Trudeau had a disagreement over whether to distribute $250 cheques to every Canadian earning less than $150,000. It looks like the unauthorized source was speaking truth. In her letter of resignation, which reads like an attack on Trudeau, Freeland says the government needs to keep its “fiscal powder dry” and should be “eschewing costly political gimmicks.”

Canadian pension funds will no longer be restricted to a cap of 30 per cent control of companies they invest in and the federal government is working with the institutional investors and domestic airports to “explore measures for further pension fund investment on airport lands.”

Finance Minister Chrystia Freeland announced Monday that she is resigning from cabinet, hours before she was scheduled to table the Trudeau government’s Fall Economic Statement.

(Bloomberg) — Canadian Finance Minister Chrystia Freeland resigned from Prime Minister Justin Trudeau’s cabinet because of differences over how to prepare for the Trump administration, a stunning move that shakes the government.

Canadian Housing Minister Sean Fraser is resigning from cabinet and doesn’t plan to run in the next election, a move that comes as Justin Trudeau’s Liberal Party languishes in the polls with an election looming in 2025.

Finance Minister Chrystia Freeland has announced her resignation from the federal cabinet, placing the blame on Prime Minister Justin Trudeau for her decision.

S&P Global said on Monday that its flash manufacturing PMI dropped to 48.3 this month from 49.7 in November. Economists polled by Reuters had forecast a flash reading of 49.8. A PMI reading below 50 indicates contraction in manufacturing, which accounts for 10.3% of the economy. A gauge of production at factories declined to 46.0, the lowest level since May 2020, from 47.9 in November.

Justin Trudeau about the best path forward for Canada. Freeland quit just hours before she was due to present a fall economic update to parliament, a document widely expected to show the Liberal government had run up a much larger 2023/24 budget deficit than planned. «For the last number of weeks, you and I have found ourselves at odds over the best path forward for Canada,» Freeland said in a letter to Trudeau posted on X.

A month-long Canada Post strike is set to end on Tuesday, after the federal labour relations board has ordered postal workers to return to work, the Crown corporation said.

British Columbia business owner Joe Chaput will spend $5,500 a month on security guards during the holiday season and plans on upgrading his store’s video camera system for around $5,000 more.