City Canadian Financial News

Canadians have shown “remarkable housing resilience” during the rapid rise in interest rates, but significant risks lie ahead, warns the nation’s housing agency.

With this move, the two small islands off the Canadian coast have gone from relative obscurity to being the unexpected face of an escalating US-France trade clampdown. While larger countries like China and Mexico are often the focus of trade battles, this time it’s a quiet fishing outpost of under 6,000 people caught in the crossfire.

It was a tale of two very different stories for Canadian capital markets in 2024, with activity in the debt markets reaching record highs amidst a continued decline in the equity space.

Vancouver could move to integrate bitcoin into city finances in the slipstream of the digital token’s surge to an all-time high above US$100,000, a rally fuelled by U.S. President-elect Donald Trump’s support for crypto.

Canada Post workers might soon be putting down their mailbags and grabbing picket signs. The employees of the Crown corporation, represented by the Canadian Union of Postal Workers (CUPW), have been in contract talks since November 2023 — but a deal still appears to be out of reach. This week, CUPW issued a 72-hour strike notice, putting Canadians on edge just as the holiday mailing rush kicks in, and leaving them wondering: will my packages arrive on time?

Subscribe to enjoy similar stories. At least 13 hoax bomb threats have been received by Indian airlines in the past 48 hours alone. Some flights had to be diverted, like one of Air India from New Delhi to Chicago that was forced to land in a small Canadian town.

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.

A planned community for about 55,000 residents in Toronto will include the usual playgrounds, bike paths and shops. It will also feature 11 airplane hangars and more than a mile of airport runway. That is because the C$30 billion, equivalent to about $22 billion, development will be located at the Canadian city’s former Downsview Airport.

Hitting the streets from Vancouver’s west coast to Nova Scotia’s eastern shores, electric scooters are zooming into Canadian cities, embraced as a convenient and eco-friendly mode of transportation.

Canadian Real Estate Association said this week, even as some standout markets such as Calgary, Edmonton and Saskatoon continue to see activity tick up.Even if buyers aren’t showing up in most Canadian cities, sellers certainly are. At the start of this month, there were roughly 175,000 active property listings across Canada, up 28.4 per cent year-over-year, according to CREA.Across the Greater Toronto Area, there are some 24,000 units including condos and detached homes up for sale — a 14-year high, according to an analysis by Hanif Bayat at Wowa.ca.Active listings for condo units in Toronto are at or near record highs right now, notes John Pasalis, president of Realosophy Realty.But that glut of supply comes as buyers remain priced out of the market.

TORONTO—One of the biggest gold heists in years was remarkably simple. A shipment of 6,600 gold bars and millions of dollars in foreign cash landed last April at Toronto’s airport, where it was sent to a warehouse. Soon after, a man drove up in a white truck and presented fake documents.

For the majority of Canadians who don’t own property, the dream of homeownership is feeling elusive, a new CIBC report suggests.

Jennifer Pan who was involved in planning a home invasion to get her parents killed. Jennifer Pan, a Canadian woman hired a hitman in the area around her parents' home and planned a home invasion to kill her parents.

Home invasions are a growing concern in Canada, with increasing reports of break-ins for auto thefts and residential burglaries in some big Canadian cities.

Ultra low-cost carrier Lynx Air will be ceasing operations after obtaining creditor protection under the Companies’ Creditors Arrangement Act, the company said late this week. The Calgary-based airline said operations will halt effective 12:01 a.m. MT on Monday, with flights continuing to operate until that time. The Financial Post’s Denise Paglinawan and Shantaé Campbell explain what that means for customers who are currently travelling and those who have booked tickets for future flights.

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.

Diwali celebration at Parliament Hill which saw a great turnout of prominent members of the Indian diaspora from several Canadian cities like Ottawa, the Greater Toronto Area, and Montreal. Arya also raised a Hindu flag with the sacred symbol 'aum' on Parliament Hill, PTI reported.

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

Housing affordability saw a “considerable deterioration” in Canada in the third quarter of 2023, according to a new report from the National Bank of Canada.

Citizens of the Canadian city of Calgary have fallen victim to 340 crypto-related scams, losing over $22.5 million in this year alone, claims report.

Higher borrowing costs are expected to drive drastic slowdowns in homebuilding for Canada’s largest urban centres after a surge in activity that started the year, according to the Canada Mortgage and Housing Corp.