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.
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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.
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.
BoC holds key interest rate at 5%, keeps door open to more hikes in case of sticky inflation
The Bank of Canada held its key interest rate steady at five per cent today, noting there are clearer signs of the economy cooling and
BoC expected to hold key interest rate steady at 5% amid ‘sluggish’ economy
The Bank of Canada is widely expected to hold its key interest rate steady on Wednesday as the Canadian economy bends to higher interest rates
Premiers ask feds for COVID-19 small business loan extension
Canada’s premiers have sent a joint letter to Prime Minister Justin Trudeau asking the federal government to extend the repayment period for a year for
Slowdown in inflation supports interest rate pause next week, economists say
Statistics Canada says the annual inflation rate slowed to 3.8 per cent in September as prices year-over-year rose more slowly across the economy.
Business gloom deepens as sales moderate, Bank of Canada survey finds
The Bank of Canada says its business outlook survey indicator fell in the third quarter as companies expect sales growth to slow over the coming
Economy to ‘stagnate,’ federal deficit expected to balloon to $46.5B this year: PBO
The PBO says higher interest rates will lead the economy to stagnate in the second half of the year, while the federal deficit rises significantly
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