economy

TransAlta wind turbines are shown at a wind farm near Pincher Creek, Alta., Wednesday, March 9, 2016. The rural municipality, located between the cities of Calgary and Lethbridge, is the poster child for Alberta’s renewable energy boom. THE CANADIAN PRESS/Jeff McIntosh

Alberta landowners fear repeat of orphan well crisis as renewable energy booms

Many small municipalities, not oil companies were the ones left hurting last time

 

Vancouver will start charging a new hotel tax to help cover the costs of hosting the 2026 FIFA Men’s World Cup. (Ryan Adams/Wikimedia Commons)

7-year-long Vancouver hotel tax to start in February to help pay for 2026 FIFA World Cup

Provincial statement suggests tax would be in place until 2030, so four years after tournament

 

Minister of Tourism and Associate Minister of Finance Randy Boissonnault speaks to the media at the Hamilton Convention Centre in Hamilton during the second day of meetings at Liberal Cabinet retreat, on Tuesday, January 24, 2023. THE CANADIAN PRESS/Nick Iwanyshyn

Fiscal room tightening as economy teeters, associate finance minister says

Finance Minister Chrystia Freeland delivered an economic update to the cabinet Tuesday

 

A provincial promise of $50 million holds the promise of making use of low-value wood that would otherwise by burned. (Photo courtesy of Cranbrook Fire & Emergency Services).

Province pumps $50-million into increasing fibre supply in B.C.

Premier David Eby announced the funding Thursday

A provincial promise of $50 million holds the promise of making use of low-value wood that would otherwise by burned. (Photo courtesy of Cranbrook Fire & Emergency Services).
The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. The Bank of Canada will release its business outlook and consumer expectations surveys this morning.THE CANADIAN PRESS/Sean Kilpatrick

More businesses expect sales to slip as high inflation, rates weigh on spending: BoC

72 per cent of consumers expect a recession in the months ahead

The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. The Bank of Canada will release its business outlook and consumer expectations surveys this morning.THE CANADIAN PRESS/Sean Kilpatrick
Commuters wait to take the subway at Ossington Station in Toronto on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana Martin

Public transit struggling to lure back riders amid deficits, rising costs of living

Many transit systems hiking fares in attempt to cover their own pandemic losses

Commuters wait to take the subway at Ossington Station in Toronto on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana Martin
Frank Bucholtz

AND FRANKLY: A financial breaking point is drawing near and fallout will be grim

2023 will be a year of tough decisions for everyone

  • Jan 12, 2023
Frank Bucholtz
FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)

World Bank warning: Global economy is at risk of recession

Development funding institution forecasts third-weakest annual expansion in 30 years

FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)
A new home is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Prospective buyers have lamented the torrid pace Canada’s real estate market has moved at in recent years, but many feel 2023 may be the year their luck changes. THE CANADIAN PRESS/Sean Kilpatrick

Homebuyers hope ‘patience pays off’ as prices drop, recession predictions loom

Drop in home prices offset by high interest rates, so far

A new home is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Prospective buyers have lamented the torrid pace Canada’s real estate market has moved at in recent years, but many feel 2023 may be the year their luck changes. THE CANADIAN PRESS/Sean Kilpatrick
Ravi Kahlon, B.C.’s minister of jobs, economic recovery and innovation, speaks at a restaurant in Delta, on September 15, 2021. Kahlon announced a new economic diversification funding program on Nov. 14, 2022. THE CANADIAN PRESS/Darryl Dyck

New economic diversification fund launched for rural, forest-dependent B.C. communities

Up to $33M available to communities, First Nations, not-for-profits

Ravi Kahlon, B.C.’s minister of jobs, economic recovery and innovation, speaks at a restaurant in Delta, on September 15, 2021. Kahlon announced a new economic diversification funding program on Nov. 14, 2022. THE CANADIAN PRESS/Darryl Dyck
Governor of the Bank of Canada Tiff Macklem says the country’s economic slowdown will impact low income earners the most. THE CANADIAN PRESS/Justin Tang

Slowdown will impact low-income earners most, says Bank of Canada governor

Tiff Macklem spoke at conference on diversity, equity Monday

Governor of the Bank of Canada Tiff Macklem says the country’s economic slowdown will impact low income earners the most. THE CANADIAN PRESS/Justin Tang
Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle

Job losses will rise but won’t reach levels seen in past economic downturns: BoC

Slowdown necessary to halt inflation, says Bank of Canada governor

Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle
Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives for a news conference before tabling the Fall Fiscal Update in Ottawa, on Thursday, Nov. 3, 2022. THE CANADIAN PRESS/Justin Tang

Five things you need to know about the Liberals’ fall economic update

The federal Liberals unveiled their fall economic update Thursday — a 92-page…

Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives for a news conference before tabling the Fall Fiscal Update in Ottawa, on Thursday, Nov. 3, 2022. THE CANADIAN PRESS/Justin Tang
Tiff Macklem, Governor of the Bank of Canada is seen at the Bank of Canada in Ottawa, on Wednesday, Oct. 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Amid growing criticism, Macklem says Bank of Canada’s independence not under threat

Governor says opinions of politicians, interest groups not changing bank’s long-term plan

Tiff Macklem, Governor of the Bank of Canada is seen at the Bank of Canada in Ottawa, on Wednesday, Oct. 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck

As Canada faces potential recession, Freeland to give fall economic statement

Finance minister has already warned not to expect big money to help Canadians cope

Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck
A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. In spite of high oil prices and record company profits this year, oil and gas towns aren’t seeing the same level of economic boom they used to a decade ago. THE CANADIAN PRESS/Jeff McIntosh

Boomtown no more: How Alberta’s economy has changed, in spite of sky-high oil prices

Oil producers having to put increased profits to paying off debt and shareholders

A pumpjack draws out oil from a well head near Calgary, Alta., Saturday, Sept. 17, 2022. In spite of high oil prices and record company profits this year, oil and gas towns aren’t seeing the same level of economic boom they used to a decade ago. THE CANADIAN PRESS/Jeff McIntosh
People pass a large Christmas tree as they go shopping on Christmas Eve at a mall in Ottawa on Dec. 24, 2020. A new report from Deloitte Canada says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household finances. THE CANADIAN PRESS/Justin Tang

VIDEO: Holiday spending expected to slump amid inflation

Canadian households forecast to spend an average of $1,520 this year

People pass a large Christmas tree as they go shopping on Christmas Eve at a mall in Ottawa on Dec. 24, 2020. A new report from Deloitte Canada says holiday spending in Canada is expected to drop this year as inflation shrinks consumer buying power and economic uncertainty looms over household finances. THE CANADIAN PRESS/Justin Tang
Minister of Innovation, Science and Industry Francois-Philippe Champagne speaks to reporters at the Liberal summer caucus retreat in St. Andrews, N.B. on September 13, 2022. When Innovation Minister François-Philippe Champagne gets in front a microphone these days to talk about electrifying Canada’s auto industry, he has a favourite line to sum up his efforts to attract global investment. “Not everyone in the world wakes up thinking about Canada,” he says. His job, as he sees it, is to change that. THE CANADIAN PRESS/Darren Calabrese
Minister of Innovation, Science and Industry Francois-Philippe Champagne speaks to reporters at the Liberal summer caucus retreat in St. Andrews, N.B. on September 13, 2022. When Innovation Minister François-Philippe Champagne gets in front a microphone these days to talk about electrifying Canada’s auto industry, he has a favourite line to sum up his efforts to attract global investment. “Not everyone in the world wakes up thinking about Canada,” he says. His job, as he sees it, is to change that. THE CANADIAN PRESS/Darren Calabrese
People shop for produce and seafood at the Granville Island Market in Vancouver, on Wednesday, July 20, 2022. THE CANADIAN PRESS/Darryl Dyck

RBC economists say recession could arrive as early as Q1 of next year

Federal budget officer projects considerably slower economy, declining federal deficit

People shop for produce and seafood at the Granville Island Market in Vancouver, on Wednesday, July 20, 2022. THE CANADIAN PRESS/Darryl Dyck
Terry Teegee, regional Chief of the B.C. Assembly of First Nations speaks at a meeting between Canada's premiers and Indigenous leaders at the Songhees Wellness Centre on July 1. (Jake Romphf/News Staff)

New First Nations centre coming to B.C. to give economic development guidance

Centre will look at how to better benefit from sectors such as forestry, mining and natural gas

Terry Teegee, regional Chief of the B.C. Assembly of First Nations speaks at a meeting between Canada's premiers and Indigenous leaders at the Songhees Wellness Centre on July 1. (Jake Romphf/News Staff)