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.

Weak economy looms over holiday shopping season as consumers seek value: retailers

Among the usual trappings are new factors that could shake up holiday shopping, the busiest season of the year: inflation, and the high interest rates the Bank of Canada has imposed to fight it.

Region’s unemployment rate falls to 4.6% in November as labour force shrinks

Canada's unemployment rate ticked up to 5.8 per cent last month, as high interest rates weigh on job creation at a time when the country's population is growing rapidly.

Canadian economy shrank 1.1 per cent in Q3 on annualized basis, StatCan says

The Canadian economy shrank in the third quarter amid weak business and consumer spending as well as lower exports.

Labour shortages cost small businesses $38 billion in lost sales last year: CFIB

Small businesses lost more than $38 billion in revenue opportunities last year because of labour shortages, according to estimates from the Canadian Federation of Independent Business.

Google to pay $100M a year to Canadian news publishers in deal with feds

The federal Liberal government has reached a deal with Google over the Online News Act, following threats from the digital giant that it would remove news from its search platform in Canada.

Porter, Air Transat launch joint venture to gird against domestic competition

Porter Airlines and Air Transat have announced a joint venture as the two carriers look to expand their range of destinations and tap into each other's markets.

Business groups point to missing items in feds’ fall economic statement, including CEBA deadline

CFIB said it is “deeply disappointed” the feds fall economic statement didn't include measures to help small businesses, like extending the CEBA loan deadline.

Federal government’s new fiscal guardrails ‘helpful’ for monetary policy: Macklem

Bank of Canada Governor Tiff Macklem warns fighting inflation half-heartedly and living with its consequences would be a huge mistake.

Freeland’s fiscal update pledges new guardrails to keep deficits in check

Finance Minister Chrystia Freeland presented her fiscal update in the House of Commons on Tuesday, stressing the pressure inflation and a slowing economy are putting on federal finances.

Statistics Canada says annual inflation rate slowed to 3.1% in October

The inflation rate slowed to 3.1 per cent on a year-over-year basis, down from 3.8 per cent in September, as the price of gasoline fell, Statistics Canada said Tuesday.
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