The Canadian Press

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...

Federal housing agency says growth was driven by increases in both the value and volume of uninsured mortgages for property buying and refinancings.

The research institute says if the central bank aims to bring inflation down from 7.7 per cent to its two per cent target by quickly raising rates, it could cause significant "collateral damage," including 850,000 job losses.

Central bank says businesses' expectations for near-term inflation have increased, and firms expect inflation to be high for longer than they did in the previous survey.

Air Canada is cutting more than 15 per cent of its scheduled flights in July and August as airports face lengthy delays and cancellations amid an overwhelming travel resurgence.