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 inflation rate accelerates to 1.2%

Nationally, June inflation rate turns positive amid early stages of economic reopening

Automotive sector helps Canadian retail sales surge 18.7% in May: StatsCan

Sales were buoyed by government income-support programs and consumers satisfying pent-up demand – both of which could fade in the second half of the year, economist says.

Five Canadian business stories to watch this week

A preview of some of the national business news that will be making headlines in the days ahead.

Liberals revise COVID-19 wage subsidy, ease eligibility in bid to boost takeup

Amounts paid out will be proportional to revenue declines due to the COVID-19 pandemic.

Gyms, theatres among those cleared to reopen as Ottawa, much of Ontario, enters next reopening stage

Ford says the next phase of economic recovery suggests the province is turning a corner after feeling the ravages of the global pandemic.

BDC to give $160M to IP-rich companies struggling to access capital

Fund will target scaling companies in knowledge-based industries with rich IP portfolios including patents, design and trade secrets and at least $1M in annual revenue.

Bank of Canada holds rate, forecasts decline in GDP of 7.8% this year

Outlook is less rosy than those the Trudeau Liberals relied on in their economic update released a week ago.

Canada, U.S. expected to extend mutual travel ban into late August

Canada-U.S. border has been closed to "discretionary" travel like vacations and shopping trips since the pandemic took hold of the continent in mid-March.