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.

Detailed vs. flat rate: New way to claim work from home costs gives workers options

The new flat rate method is quick and easy, but using the detailed method may yield a better outcome, depending on your circumstances

Sky Regional to shut down at the end of March after losing contract with Air Canada

Company becomes the first domestic scheduled airline to permanently shut down since the start of the pandemic.

After worst year on record, Canadian economy enters 2021 with momentum

Statistics Canada said the economy grew at an annualized rate of 9.6% over the last three months of 2020

CAE to buy L3Harris military training business for US$1.05B

The L3Harris military training business includes Link Simulation & Training, Doss Aviation and AMI.

Federal deficit hits $248.2B for first nine months of 2020-21 fiscal year

Sum compares to a deficit of $11 billion in the same period a year earlier.

Canadian small businesses rack up $135B in debt to survive pandemic: Report

Survey suggests the average small business owner has accrued $170,000 in debt, with businesses in the hospitality, recreation and service sectors most indebted.

Purolator expanding rural facilities amid demand from remote workers

Investment highlights how COVID-19 and the increasing prevalence of remote work are changing residential and commercial patterns across Canada.

Canada, Australia agree to co-ordinate efforts on regulation of online platforms

The growing co-operation between the two countries comes as Facebook backed down on a ban it introduced last week that prevented Australians from viewing and sharing news on its platform.

Canadian banks, bellwethers of pandemic recovery, to reveal key statistics this week

Canadian bank leaders will likely give analysts insight on how the economy is recovering in different sectors, such as mortgage borrowing, credit card spending and small business loans.