City Ottawa Financial News
24.05 / 17:47
Provident
Action
President
travelers
rights
Traffic
CBSA workers vote in favour of strike action, warn of border disruptions
strike as early as next month and cause “significant disruptions” during the busy travel season.It’s the latest threat in a widening labour dispute between Ottawa and Canada’s largest unions, which have warned the government to prepare for a “summer of discontent.”The Public Service Alliance of Canada, which represents 9,000 CBSA employees, says 96 per cent of its members voted in favour of job action in June, but did not give an exact date.“Workers have been without a contract for over two years, yet Treasury Board and CBSA are still not prepared to negotiate an agreement that protects workers,” said PSAC president Chris Aylward in a statement Friday.The union says its key demands revolve around higher wages, remote work options and better retirement benefits.
23.05 / 11:25
UPS
Citi
Strategy
Align
community
social
rowing
Last days of the NIMBY: How Ottawa’s housing push is rewriting the rules of development
Last month, city councillors in Calgary settled in for what would turn out to be the city’s longest-ever public hearing. Over the course of 12 days, more than 700 residents and stakeholders paraded through council chambers at city hall to share their views ahead of a vote on sweeping changes to the city’s zoning rules.
19.05 / 14:19
markets
FIVE
pandemic
show
Interviews
Canada's home sales and prices fall as sellers return to market
The Canadian Real Estate Association says the number of homes changing hands in April fell from the previous month despite an influx of new listings hitting the market.
14.05 / 12:59
FIVE
economy
Opinion
track
inclusion
reports
rights
Wealthy Canadians sour on state of economy in wake of capital gains tax changes, poll finds
Ottawa’s changes to the capital gains tax appear to have gotten under the skin of Canada’s wealthiest wage group, an ongoing poll that tracks the financial outlook of Canadians suggests.
12.05 / 22:57
COST
UPS
Provident
Food
community
show
Canada Post cracks down on Nunavut loophole to get free Amazon shipping
Canada Post closed a loophole that people across Nunavut were using to stock their pantries with items shipped for free through Amazon Prime.A can of tomatoes costs $10 in Rankin Inlet, says the 42-year-old mother.But with a slight change to her postal code when purchasing through Amazon, Eecherk could get almost 10 cans sent to the hamlet on the northwestern side of Hudson Bay for the same cost.“Amazon provided the relief that we needed,” she said.Amazon’s paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.The vast territory has some of the highest food costs and rates of food insecurity in Canada.
10.05 / 16:14
UPS
FIVE
Manufacturing
economy
inclusion
innovations
Canadian business groups backtrack on claim about capital gains tax change
OTTAWA — Prominent business groups have backtracked their claim that one in five Canadians would be affected by the federal government’s proposed changes to capital gains taxation.
09.05 / 18:19
markets
Binance
Analysis
information
reports
Crypto exchange Binance hit with $6-million fine by Fintrac
OTTAWA — The federal anti-money laundering agency has issued a $6-million fine to cryptocurrency exchange company Binance Holdings Ltd.
08.05 / 21:03
Provident
Citizens
Death
country
social
information
Investigations
Canadian-Israeli citizen dead in Egypt, local authorities say probe is open
A Canadian-Israeli citizen has died in Egypt, according to officials in all three countries.
08.05 / 17:55
markets
Provident
Digital
US stock markets: Shopify shares tumble over 21% on weak Q2 forecast
ALSO READ: Wall Street today: US stocks slip as Treasury yields rebound https://www.livemint.com/market/stock-market-news/wall-street-today-megacaps-drag-down-us-stocks-treasury-yields-rebound-11715174072617.html The loss per share was 21 cents on revenue of $1.86 billion, Shopify said in a statement on Wednesday. Subscription Solutions revenue was $511 million, a 34 per cent jump from a year earlier, helped by the price increases and more merchants using its services. Last year, Shopify shares had rallied more than 120 per cent.
08.05 / 15:15
COST
Platform
Trade
reports
Shopify shares drop on surprise loss
Shopify Inc. shares tumbled after the Canadian e-commerce company reported a surprise net loss in the first quarter after the sale of its logistics business last year.
07.05 / 22:31
UPS
Action
Parke
Death
community
wellness
hospital
Ottawa approves B.C.’s ask for public drug use ban in decriminalization pilot
The federal government is granting B.C.‘s request to once again ban the public use of illicit drugs, Mental Health and Addictions Minister Ya’ara Saks said on Parliament Hill on Tuesday.
07.05 / 20:19
markets
COST
UPS
FIVE
economy
wellness
country
David Rosenberg: Tanking economy, productivity mean Bank of Canada should cut rates with or without the Fed
We find it rather incredible that the Bank of Canada is so nonchalant when it comes to the state of the Canadian economy. The degree of excess capacity is expanding by the month, inflation has swung to disinflation and the economy (in real output per-capita terms) is contracting at a two per cent annual rate. Yet the folks in Ottawa fiddle as the macro landscape burns.
07.05 / 13:39
COST
UPS
economy
Matthews
Loblaw
show
Matthew Lau: Activists' illogical boycott of Loblaw just doesn't add up
Some internet activists are calling for a boycott of Loblaw for the month of May over the grocer’s prices, which are said to be too high. The boycott is not notable for its logic. On the one hand, if the boycotters are not Loblaw customers to begin with, it’s meaningless. On the other hand, if they are current customers, it must be because they have decided Loblaw’s offering — its combination of price, quality, selection, convenience and other factors that determine shoppers’ choice of grocer — is better than all the other alternatives. Which makes Loblaw an odd target for a boycott over its prices.
06.05 / 05:21
UPS
Provident
FIVE
Racing
Experts
performer
prevention
From 5K to a full marathon: The best way to train for a long run
marathon season brings a time of excitement and challenge for people of all levels.Marathon season offers a range of distances to run, from the quick sprint of a 5K to the ultimate endurance challenge of an ultramarathon. And the key to any race is consistency and careful planning, experts say.“Usually springtime is when people are starting to get outside and start running as it’s nice to be out in the fresh air,” said Lydia Di Francesco, a wellness specialist based in Ottawa.
04.05 / 07:39
Align
Election
community
country
reports
politician
International
India attempts to influence Canadian politics due to concerns over Khalistani separatists: Official probe
Canada-based proxies, engage in a range of activities that seek to influence Canadian communities and politicians to «align» Ottawa's position with New Delhi's interests on key issues, particularly concerns over Khalistani separatists in Canada, an official probe has found. The findings in the interim report by Commissioner Marie-Josee Hogue, who is leading the independent public inquiry, found evidence of foreign interference in Canada's last two federal elections in 2019 and 2021 but the results of the votes were not affected and the electoral system was robust. India has previously rejected as «baseless» the allegations of its interference in Canadian elections and asserted that the core issue has been Ottawa's meddling in New Delhi's internal affairs.
02.05 / 21:57
26.04 / 05:45
markets
COST
UPS
Manufacturing
Experts
show
country
Do Canadians have an appetite for electric vehicles? Experts are divided
By 2028, a Honda manufacturing plant in Alliston, Ont., should be ready to pump out 240,000 electric vehicles (EVs) every single year.
25.04 / 04:25
UPS
Fighting
CRA
Bill
Trudeau says ‘good luck’ to Saskatchewan premier in carbon price spat
Saskatchewan Premier Scott Moe on Wednesday that the Canada Revenue Agency is “very, very good” at getting the money it’s owed.“Having an argument with CRA about not wanting to pay your taxes is not a position I want anyone to be in,” he said at a press conference in Oakville, Ont.“Good luck with that, Premier Moe.”The Saskatchewan premier has pledged his province will not send Ottawa the money it collects from the federal carbon price on natural gas — a move that breaks federal law.The jurisdictional spat began when the Liberals created a temporary exemption to the carbon price for home heating oil.The Saskatchewan government said that’s unfair and politically motivated because the exemption has an outsized impact in Atlantic Canada, where oil is the main fuel source for home heating.Moe’s government has called for a similar exemption on natural gas, the primary home-heating fuel in Saskatchewan.He has also been a vocal opponent of the carbon levy more broadly and counts himself among a majority of premiers who have written to Trudeau seeking a meeting to talk about alternatives to the carbon price.Trudeau has rebuffed calls for such a meeting and challenged premiers to come up with their own climate plans if they don’t like the federal carbon price, pointing to British Columbia and Quebec as examples of provinces with their own system.The prime minister confirmed Tuesday that his government will keep sending carbon rebate cheques to people in Saskatchewan.On Wednesday, he reiterated that most people in jurisdictions that use the federal carbon price get more back in rebates than they pay each year.“CRA is an independent organization that is very, very good at getting money it is owed from Canadians, from businesses and
24.04 / 17:01
President
students
CIBC
reports
Courts
Interviews
International
TD courts international students amid Ottawa's cap on study permits
Toronto-Dominion Bank still sees foreign students as an important source of growth even as Prime Minister Justin Trudeau’s government has ushered in new caps on study permits in a bid to ease rental-housing demand.
24.04 / 17:01
COST
wellness
show
reports
International
Sporting
Rate Cut
Canada's retail sales flatline, supporting case for Bank of Canada rate cut
Canadian consumers haven’t tightened their belts this much in nearly a year, and there are no signs of spending growth since the start of 2024.
23.04 / 08:55
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