The Canadian Press

Ottawa and Ontario have reached a deal with a global materials technology and recycling group to build a new battery component facility in the province's Loyalist Township that will supply parts for electric vehicles.

As Canadians face a double whammy of skyrocketing inflation and the largest interest rate hike seen in 24 years, one expert is warning that prices won't be coming down anytime soon.

The Bank of Canada signaled a more aggressive approach to bringing skyrocketing inflation back under control as it announced the largest single rate increase since August 1998.

One former telecom executive says there is the risk of creating a situation where a competitor's network becomes overwhelmed and service is ultimately degraded.

In its new two-year outlook, the think tank says it is not expecting an economic contraction in Canada, but the risks are creeping up.

 A Friday outage from Rogers Communications Inc. resulted in some small businesses losing thousands of dollars, which they fear the telecommunications giant won't fully compensate them for.

The Canadian Federation of Independent Business says record gas prices, supply chain snarls and labour shortages have pushed the cost of doing business through the roof.

The Bank of Canada raised its key interest rate by half a percentage point on June 1, bringing it to 1.5 per cent. Since then, it has signalled a willingness to move in a more aggressive direction.

"The outage is illuminating the general lack of competition in telecommunications in Canada," said Vass Bednar, executive director of McMaster University's master of public policy program.

Canada is headed towards a recession in 2023, but it will be short-lived and not as severe...