CRA claws back $458 million in pandemic era wage subsidies after partial audit
The CRA has denied or adjusted $458 million in funds disbursed to employers through a pandemic-era wage subsidy program after a partial audit.
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Canada & World
Canadian and international business news relevant to local business leaders here in Ottawa. Includes stories related to inflation, interest rates, employment, major government announcements and more.
Economists expect inflation slowed again in October as high interest rates take hold
Forecasters anticipate Canada’s inflation rate took another dip in October as gasoline prices fell from the previous month and grocery prices rise more slowly.
Feds launch $10M program for small businesses in Indigenous tourism
The federal government has launched a $10-million program to provide grants to small businesses involved in Indigenous tourism across Canada.
Canadians should plan for higher interest rates in the long run, BoC’s Rogers says
Bank of Canada senior deputy governor Carolyn Rogers is warning interest rates might not return to the low levels people were used to before the
BoC’s governing council split on whether interest rates need to rise further
Further interest rate hikes from the Bank of Canada are very much still on the table as its governing council remains split on whether rates
Small businesses still hoping for CEBA loan forgiveness extension as time runs out
As the deadline to repay CEBA loans and receive partial forgiveness approaches, small businesses are still hoping the federal government will reverse course and extend
Canadian business insolvencies rise almost 42 per cent from last year
Canadian business insolvencies were up 41.8 per cent from a year earlier in the third quarter, surpassing pre-pandemic levels.
Ottawa-Gatineau’s unemployment rate holds steady at 4.9% in October
Canada’s unemployment rate rose to 5.7 per cent last month as job opportunities became less plentiful in an economy weighed down by high interest rates.
Forecasters more certain interest rate hikes are over as recession talk grows over GDP numbers
The Canadian economy remained flat in August and a preliminary estimate from Statistics Canada suggests it shrank in the third quarter.
Major drink brands launch more non-alcoholic drinks as ‘sober curious’ trend grows
As interest in non-alcoholic drinks grows, major alcohol brands are making moves with sober versions of well-known products like Guinness and Tanqueray gin.
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