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.

Canada averts recession with meagre growth in Q4, consumers and businesses pinched

The Canadian economy continues to beat recession fears, posting modest growth in the fourth quarter even as high interest rates weighed on consumers and businesses.

Loblaw spending more than $2B to build more than 40 new stores, renovate hundreds

Loblaw Cos. Ltd. announced Tuesday the record investment plan, which includes the expansion and relocation of 10 stores and renovations at 700 locations across its banners.

‘Very pleasant surprise’: Canada’s inflation rate tumbles to 2.9 per cent in January

Canada’s annual inflation rate fell to 2.9 per cent last month, marking a sharper deceleration in price growth than expected by forecasters.

CPA Canada cuts 20% of workforce ahead of split with Ontario and Quebec

CPA Canada is cutting 20 per cent of its workforce ahead of a move by provincial oversight bodies in Ontario and Quebec to split from the national organization.

Rate cut timing ‘difficult to foresee’ amid inflation pressures: BoC deliberations

The Bank of Canada isn't sure when it will be able to start cutting interest rates as it continues to contend with inflation that's still too high and broad-based.

Don’t look to the BoC to solve Canada’s housing and economic woes, Macklem says

Bank of Canada governor Tiff Macklem is laying out the limits of monetary policy as he warns the central bank can’t solve problems such as housing affordability with interest rates.

Black Canadians report high levels of racism despite workplace improvements

Canadian companies are making uneven progress on efforts to make workplaces more inclusive and equitable for Black workers, according to a survey from KPMG in Canada.

Business, consumer insolvencies rise in December as higher rates bite

Business insolvencies rose 57.2 per cent in December compared with a year earlier, according to the Office of the Superintendent of Bankruptcy.

Economic bounceback at the end of 2023 could push back rate cuts, economists say

Canada's economy appears to have ended 2023 on a stronger note than expected, which economists say could push back the timeline for interest rate cuts this year. 

Bad Boy Furniture Warehouse fails to file proposal, is deemed bankrupt

Toronto-area furniture retailer Bad Boy Furniture Warehouse Ltd. is officially bankrupt.
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