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U.S. strike against GM threatens Canadian plants

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As 49,000 United Auto Workers in the U.S. strike against General Motors, there’s a risk the walkout could shut down GM Canada’s plants and auto-parts makers in Ontario. GM Canada says it is monitoring the situation closely for any impact to Canadian operations. The North American auto industry is highly integrated, with assembly plants here in Canada reliant on parts ... Read More »

An idea worth debating this election — tax fairness for Canadian professionals

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The gap between top personal income tax rates and small-business income tax rates has widened over the past 20 years, making it more attractive for professionals to incorporate and earn income through their Canadian-controlled private corporations (CCPCs). With top marginal tax rates now exceeding the psychological barrier of 50 per cent, the incentive to incorporate can be powerful. At the ... Read More »

Canada appoints former McKinsey consultant envoy to China

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OTTAWA : Canada has appointed veteran business consultant Dominic Barton as ambassador to China, Prime Minister Justin Trudeau said on Wednesday, as the government grapples with a major diplomatic and trade dispute between the nations. Barton, 56, a Ugandan-born Canadian who stepped down as global managing partner of consulting firm McKinsey & Co last year, has extensive experience in China ... Read More »

New PoCo rec centre opens without change rooms for referees

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Port Coquitlam’s new community centre has opened without separate change rooms for referees, breaking a requirement needed for local sports teams to play home games. Nadia Stewart reports. – A A + Port Coquitlam athletes have been eagerly awaiting the opening of the city’s new multi-million-dollar community centre, which will now be the new home of several local sports teams. ... Read More »

TD Bank caps earnings at Canada’s 5 biggest banks with profit rise to $3.2B

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TD Bank Group reported its third-quarter profit grew to $3.248 billion, helped by improved results across the bank. The Toronto-based lender said Thursday the profit amounted to $1.74 per diluted share for the quarter ended July 31. The result was up from $3.105 billion or $1.65 per diluted share in the same quarter last year. On an adjusted basis, TD ... Read More »

Canadian lobster exports boom amid U.S. trade tensions with China

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U.S. lobster exports to China have fallen off a cliff this year as new retaliatory tariffs shift the seafood business farther north. China, a huge and growing customer for lobster, placed heavy tariffs on U.S. lobsters — and many other food products — in July 2018 amid rising trade hostilities between the Chinese and the Trump administration. Meanwhile, business is ... Read More »

Canadian woman faces lifetime ban after getting caught with CBD oil at U.S. border

The Ambassador Bridge, which connects Windsor, Canada, and Detroit. In October, recreational marijuana will become legal in Canada, presenting a challenge for U.S. officials at the border, where possession of the drug violates federal law. MUST CREDIT: Photo by Brittany Greeson for The Washington Post.

U.S. border protection has barred a young Canadian woman from crossing the border after cannabidiol (CBD) oil was found in her backpack — a non-psychoactive product of the cannabis plant she uses to treat the painful side effects of scoliosis. The woman, who has asked not to be identified by CBC News pending the outcome of an application for reentry, ... Read More »

Last week’s gloom and doom has not seized Canadian economy yet: Don Pittis

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A glance at the business headlines over the past week might have left you thinking the world was on a fast track to economic Armageddon. Markets crashed. There were renewed warnings about the inverted yield curve, which, almost bizarrely, has moved from economic arcana to bar chatter. Banks in Denmark offered to pay interest to mortgage seekers to encourage them ... Read More »

Wealthsimple targets Canada’s richest with Grayhawk partnership

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Wealthsimple Inc., the robo advisor favoured by millennials, is expanding in the opposite end of the Canadian wealth spectrum — services for high-net worth families. The investment firm’s Wealthsimple to Advisors unit will provide technology, dealer and advisory services to Grayhawk Investment Strategies Inc., a Calgary-based firm that manages about $800 million for 30 of Canada’s richest families. Wealthsimple will ... Read More »

Canada raises travel warning amid escalating protests in Hong Kong

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The federal government has issued a travel advisory that urges Canadians travelling to Hong Kong to exercise “a high degree of caution” because of the escalating protests in the city. The government’s website says there are “identifiable safety and security concerns or the safety and security situation could change with little notice.” Canadians are advised to “exercise a high degree ... Read More »

Canada loses 24,200 jobs in July, pushing unemployment rate higher

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OTTAWA : Wage growth accelerated last month to its fastest clip in more than decade, according to numbers released Friday from Statistics Canada. The 4.5 per cent burst came in a month that also produced less-positive data: the unemployment rate moved up to 5.7 per cent as Canada shed 24,200 jobs. The increase in wages — as measured by year-over-year ... Read More »

Da Nang’s enterprises unlock business opportunities with Canada

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NDO – A workshop was held in Da Nang city on August 6, aiming to help enterprises operating in the central city unlock business opportunities with Canadian partners under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The event was co-organised by the Canadian Embassy in Vietnam and Da Nang City Department of Industry and Trade,as part of the ... Read More »

U.S. Customs raiding Canadian pharmacies?

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Forget, if you can, the boorish, imperial arrogance of an initiative announced Wednesday by U.S. Secretary of Health and Human Services Alex Azar that would permit Americans to raid the Canadian drug cabinet for medications that are far less expensive here than in the U.S. Ignore, if you can, the irony of a U.S. administration that cavils against immigrant caravans ... Read More »

Canada Launches Fresh Port Investment

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The Canadian government has announced an investment of approximately US$35 million for the Port of Nanaimo to make significant infrastructure improvements and expansions at its Duke Point facilities. According to a statement, the investment was announced by Marc Garneau, Canada’s Minister of Transport, following months of work with the Port of Nanaimo team, which included terminal operator DP World. It ... Read More »

US-Mexico-Canada trade deal will help stave off US recession

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WASHINGTON: Approval and implementation of the US-Mexico-Canada (USMCA) trade agreement will provide a major boost to the US economy and help stave off a recession, Thomas Donohue, chief executive of the US Chamber of Commerce, said on Thursday. Donohue, whose organization is spearheading a major campaign to win passage of the trade agreement, said moving ahead with the USMCA would ... Read More »

Canada Border Services Is Hiring Stunt Actors To Play Smugglers

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OTTAWA — The Canada Border Services Agency is looking once again for a handful of stunt actors to be thrown down, handcuffed, searched and beaten to help train new recruits. The agency has posted bid documents online, looking for a company to supply actors for its training centre in Rigaud, Que., between Ottawa and Montreal. The documents outline how the ... Read More »

One year after the trade wars began, Canada’s economy has been altered

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Part of an ongoing series that looks at changes one year after the global trade wars ignited. For the next few months or so, some of us here at the Financial Post will be filing dispatches from the trade wars, which arrived in Canada on the last day of May 2018, when Prime Minister Justin Trudeau returned U.S. President Donald ... Read More »

France to vote on ratifying contentious EU-Canada trade deal

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French lawmakers in the National Assembly will vote on Wednesday on whether to ratify a controversial trade deal between the European Union and Canada. The EU-Canada Comprehensive Economic and Trade Agreement (CETA) was approved by the European Parliament two years ago, but it must also be ratified by each of the member states of the European Union to become permanent. ... Read More »

Cheaper energy pulls Canada’s inflation rate down to 2% in June

Oil pumps in operation at an oilfield near central Los Angeles on February 02, 2011.  World oil prices recently rallied close to $100 per barrel, as traders absorbed impressive fourth-quarter US economic growth and fretted over worsening political turmoil in Egypt. Most other commodity markets also won support this week from news that the US economic recovery picked up speed in the last three months of 2010, stoking hopes of strengthening demand for raw materials. The US economy grew at its fastest clip in five years in 2010, the Commerce Department reported, as the country bounced back from recession and fears of a double-dip recession ebbed.                                        AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

Canada’s consumer price index rose at a two per cent annual pace in June, as the price of just about everything except energy went up. Statistics Canada reported Wednesday that prices for food, shelter, clothing, home furnishings, services, insurance, new cars, to name a few, have risen in the past year. But the overall inflation rate fell to two per ... Read More »

Canadian officials flagged 900 food items from China with ‘problems’ over 2 years

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Canadian inspectors intercepted nearly 900 food products from China over concerns about faulty labels, unmentioned allergens and harmful contaminants that included glass and metal between 2017 and early 2019, according to internal federal records. The document provides an inside look at imports from China that caught the attention of officials for appearing to fall short of Canadian standards — from ... Read More »