Canada Financial News

Inflation slowed to two per cent in August, hitting the Bank of Canada’s target and adding to the case for more aggressive interest rate cuts.

The world’s centi-millionaires — individuals with liquid investable assets of US$100 million or more — have ballooned by 54 per cent over the past decade, a new report shows.

The Mastercard Foundation’s new money-management arm is in expansion mode, and executives have been finding new employees from one place in particular — the Ontario Teachers’ Pension Plan.

By Franco Terrazzano

Instagram announced tighter privacy settings for younger users on Tuesday. These restrictions include the requirement for ‘Teen Accounts’ and parental controls that limit what children can view. All Instagram accounts belonging to users under the age of 18 in the United States, United Kingdom, Canada, and Australia will become ‘Teen Accounts’ within 60 days and be set to private by default. Besides other new privacy settings and limitations, the new account type, called Teen Accounts, will only allow messages from users they follow or are already connected to. It will also put users in sleep mode between 10 p.m. and 7 a.m. to encourage sleep, and it will give users access to the most restrictive tier of the app's settings for viewing sensitive content. Also Read: Heartstopper Season 3: Check out trailer, cast, release date and where to watch

inflation cooled sharply to two per cent in August, according to Statistics Canada, marking a major milestone in the Bank of Canada’s efforts to tame price pressures.That’s half a percentage point lower than the 2.5 per cent annual rate recorded in July and continues a general cooling trend through 2024.The last time inflation was at or below two per cent was in early 2021.Statistics Canada pointed to cheaper prices on gasoline as driving down the headline inflation figure in August. Without the drop in gas prices, annual inflation would’ve been 2.2 per cent in August, StatCan said.Grocery prices rose 2.4 per cent annually in August, up from 2.1 per cent in July, mostly because of comparisons to sizeable price movements the same time last year.On a monthly basis, grocery prices were down 0.2 per cent from July to August, StatCan noted, thanks largely to seasonal drops in fresh vegetable costs.Another part of the basket seeing monthly prices drops last month was clothing and footwear, down 0.6 per cent.StatCan noted how rare this is — it’s the first time prices have fallen here in August since 1971 — given the month marks back-to-school shopping season.

Instagram is introducing separate teen accounts for those under 18 as it tries to make the platform safer for children amid growing backlash against how social media affects young people’s lives

The United Auto Workers’ rift with Stellantis widened Monday as the union filed federal labor charges over possibly moving production of an SUV out of the country

The brother of Terry Fox is calling the move of his older sibling’s statue in Ottawa one of “significance,” now that it stands along Fox’s route through the national capital during his “Marathon of Hope.”

Subscribe to enjoy similar stories. Mumbai: Canada's Brookfield Infrastructure Partners is weighing potential investments in India's emerging semiconductor fabrication sector, even as it actively assesses opportunities in fibres, transmission lines, electric vehicles and smart meters. In the US, Brookfield has invested $15 billion in a joint venture with Intel Corp.

mortgage market, expanding the availability of 30-year amortizations and raising the cap on insured mortgage products.First-time homebuyers, as well as those purchasing new builds, will soon be able to take out insured mortgages with a 30-year amortization, up from the typical 25-year payback period.Additionally, the Liberals are raising the price cap for taking out insured mortgages to $1.5 million compared with the previous bar of $1 million.Both proposed changes would go into effect on Dec. 15.Deputy Prime Minister and Minister of Finance Chrystia Freeland made the announcements on Monday in Ottawa where members of Parliament are reconvening for the start of the fall sitting in the House of Commons.She positioned the move as helping Canadians to afford a first home.“It is going to put the dream of home ownership in reach for more young Canadians,” she told reporters.Extending amortizations helps to reduce the monthly burden of carrying a mortgage, though a homeowner is likely to pay more in interest over the life of the loan.Because households have to put down more than 20 per cent upfront when purchasing a home with an uninsured mortgage, the current price cap for insured mortgages creates a significant barrier for Canadians looking to purchase a property worth more than $1 million.In some of Canada’s most expensive housing markets, the average home price is already above that bar, making it difficult for some prospective buyers to save enough to ever own a home.Under the proposed changes, an individual could put down between five and 20 per cent of the value of a home worth up to $1.5 million, lowering the size of the down payment needed.The proposals come after the Liberals instituted new changes as of Aug.

A summer start to interest rate cuts from the Bank of Canada failed to breathe new life into the Canadian housing market, with the national real estate association suggesting homebuyers are content to wait for cheaper borrowing costs before getting off the sidelines.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

The study followed a group of 315 children from Nova Scotia, Canada, at ages 3.5, 4.5, and 5.5 years. It found that children who used mobile phones and tablets often at age 3.5 were more prone to anger and frustration by age 4.5. Additionally, those who showed signs of anger at 4.5 years were likely to continue using these devices frequently by age 5.5. Impact on Emoti

The Bank of Canada is set to get a fresh look at inflation figures this week as some economists expect another big step towards the central bank’s two per cent target.

Terry Fox had run the length of a marathon a day during his journey across Canada, she was shocked.Like most Canadians, Adhiya had known about the icon’s 1980 mission to raise funds for cancer research through a 4,700-mile run from Newfoundland to British Columbia, but not much about Fox’s childhood, the day-to-day grind of his run and his deep connection to his supporters.The editor and writer’s new book, Hope by Terry Fox, published this month by ECW Press and Burman Books, explores who Fox was beyond what he called his Marathon of Hope through interviews, journal excerpts, letters and photos.“As Canadians, we adore him for very good reason, and he is our iconic hero,” Adhiya said. “But I think this book allows you to really understand the depth of who he was as a human being.”“This is hope, as Terry Fox would teach you.”Fox, of Port Coquitlam, B.C., was 18 years old when he was diagnosed with bone cancer and had to have his right leg amputated.

Air Canada and the union representing its pilots have come to terms on a labor agreement that is likely to prevent a shutdown of Canada’s largest airline

Air Canada and the union representing more than 5,200 pilots have reached a last-minute tentative deal in their labour dispute, averting a strike that could have disrupted travel plans for thousands of passengers.

Air Canada said Sunday it has reached a last-minute tentative deal with its pilots, averting a crippling strike that would have grounded flights and risked devastating the economy. The agreement was announced just minutes after a key overnight deadline lapsed that would have seen hundreds of flights started to be cancelled over the coming days. «Air Canada has reached a tentative, four-year collective agreement with the Air Line Pilots Association (ALPA), representing more than 5,200 pilots at Air Canada and Air Canada Rouge,» the airline said in a statement.

The Innovation Stream is one of the four pillars of this Tech Talent Strategy, which was launched in 2023 to attract skilled talent to help Canada grow as a global tech leader, says a CIC News report. Some skilled foreign workers are now eligible to apply for an employer-specific work permit if they get a job offer from any of the employers participating in the Global Hypergrowth Project.

Air Canada and its pilots to reach an agreement in their labour dispute ahead of a looming shutdown that could upend air travel for thousands of passengers.Some disruptions have already begun as a midnight deadline is fast approaching for the national carrier and the Air Line Pilots Association (ALPA), which represents 5,200 Air Canada pilots.Both sides remain far apart on negotiations and if a settlement is not reached by 12:01 a.m.