Business

The five largest grocery chains have delivered plans to stabilize food prices to the federal government, Industry Minister François-Philippe Champagne said Thursday. In August, food prices increased 6.9 per cent over last year, while the overall inflation rate hit 4 per cent. The five largest grocery chains have delivered plans …

Canada Mortgage and Housing Corp. says construction of new homes increased slightly across several of Canada’s major cities in the first half of 2023, as the pace of apartment starts helped offset declines in other dwelling types. Pace of new home construction is down 25% so far in 2023, despite …

Philippine stocks sank by more than 100 points Thursday after the Philippine Statistics Authority (PSA) reported that inflation rate picked up to a four-month high in September. The 30-company Philippine Stock Exchange index fell by 119.60 points, or 1.9 percent, to close at 6,178.60, while the broader all-shares index declined …

Canada's economy added 64,000 new workers as a surge in hiring in Quebec and B.C. was enough to offset a loss of 38,000 jobs in Alberta. Economists had been expecting about 25,000 new jobs Canada's economy added 64,000 new workers as a surge in hiring in Quebec and B.C. was …

WestJet is temporarily suspending flights between Canada’s two biggest cities this winter, but plans to resume service between Toronto and Montreal next spring.  Airline says route will start up again in the spring. WestJet is temporarily suspending flights between Canada’s two biggest cities this winter, but plans to resume service …

The largest ever strike in the U.S. health care sector is set to start on Wednesday as 75,000 workers at Kaiser Permanente in a handful of states walk off the job demanding better wages.  Three day strike is largest ever for a health care company. Healthcare workers launched a planned …

Bank of Canada deputy governor Nicolas Vincent says businesses raising their prices more frequently than they did before the pandemic is contributing to higher-than-expected inflation.  Nicolas Vincent says some firms may keep raising prices even after legitimate reasons have gone. Bank of Canada deputy governor Nicolas Vincent says businesses raising …

Tens of thousands of commuters in Ontario who use GO Transit faced cancellations or long delays Tuesday because of CN Rail’s “network-wide system failure,” which the company said was later restored.  Company had internet connectivity issue, impacting GO Transit and Via rail trains. Tens of thousands of commuters in Ontario …

The Toronto Stock Exchange’s main stock index has given up all of its gains for 2023, as investors head for the exits as the realization that high interest rates are going to stick around settles in.  Yield curve is inverted in Canada and U.S., which traditionally portends recession. The Toronto …

WASHINGTON, D.C.: Microsoft Chief Executive Officer (CEO) Satya Nadella told a US court on Monday that Google’s dominance of the search engine market made it very hard for rivals to emerge, hitting out sharply at the business practices of his company’s archrival. Nadella spoke to a courtroom in Washington, D.C., …