2 h. ago Bank of Canada warns U.S. tariffs would have 'severe' impact

Tariffs could weaken the country's economy in the next two years, says Bank of Canada (BoC) governor Tiff Macklem.While speaking to members of the Mississauga Board of Trade and the Oakville Chamber of Commerce on Friday, Feb. 21, Macklem highlighted the uncertainties brought about by tariff threats and compared its potential impact to the pandemic."In the pandemic, we had a steep recession followed by a rapid recovery as the economy reopened. This time, if tariffs are long-lasting and broad-based, there won't be a bounce-back," he stated."We may eventually regain our current rate of growth, but the level of output would be permanently lower. It's more than a shock — it's a structural change."He stated that even the period of uncertainty is "already causing harm" and that a trade conflict would cost people their jobs and reduce exports and investments.The immediate impact of tariffs on CanadaMacklem pointed out that the threat of tariffs has brought about uncert...

Economics

2 h. ago Canadian North airline to be purchased by Exchange Income Corp.

The airline provides service to 24 remote Arctic communities in Nunavut and N.W.T. through Ottawa and Edmonton, as well as dedicated charters in northern Alberta and B.C.

Other

3 h. ago Crumb rubber plowed from Surrey sports fields putting fish at risk, biologist warns

A retired biologist is worried rubber beads plowed from sports fields with snow are now leaching toxic chemicals into Surrey storm drains.

Sport

6 h. ago Toronto cop on Ontario Sunshine List gets house arrest for attempted frauds

Const. Ronald Joseph 'was the lynchpin of a fraudulent scheme' that involved staging car accidents 'and motivated entirely by greed,' said the judge

Other

6 h. ago ELDER: U.S. Founding Fathers funded government through tariffs

President Donald Trump calls tariff “the most beautiful word in the dictionary.” This refutes the orthodoxy of unilateral free trade championed for hundreds of years, beginning with the 1776 “Wealth of Nations” author Adam Smith, widely known as the father of modern economics. But economist Donald J. Boudreaux of the American Institute for Economic Research […]

Politics

6 h. ago Fabric and craft retailer Joann to go out of business and close all of its stores

NEW YORK (AP) — Fabric and crafts retailer Joann Inc., which has been a destination for generations of quilters, knitters and lovers of crafts projects for 80 years, is going out of business and shuttering all its stores. The announcement comes after the Hudson, Ohio-based retailer filed for Chapter 11 bankruptcy protection in January, the […]

Economics

8 h. ago Canada’s big banks to build reserves amid tariff uncertainty

The various banks have already been putting aside more funds to cover any souring loans due to continued high Canadian unemployment.

Economics

9 h. ago European Stocks Steady as AI Spending Worries Offset DAX Rally

European stocks ended the day flat as worries about Microsoft Corp.’s dwindling spending on data centers tempered positivity from the German election outcome.

Economics

9 h. ago Tariff talk: What corporate Canada is saying during earnings season

As companies report their earnings for the latest quarter, they’ve fielded question after question from analysts about how they’re preparing for potential tariffs from the U.S. President Donald Trump has threatened sweeping tariffs on imports coming from Canada, and Ottawa has said it will retaliate with tariffs of its own if that happens. The two […]

Economics

9 h. ago Saskatchewan Premier Moe travelling to Washington again to push against tariff threat

Saskatchewan Premier Scott Moe is travelling to Washington, D.C., again to push against proposed tariffs from the United States.

Economics

12 h. ago Canada Metal Processing Group announces steps to respond to U.S. tariff threats on steel sector

BROSSARD, Quebec, Feb. 24, 2025 (GLOBE NEWSWIRE) — Canada Metal Processing Group (MPG Canada) and its subsidiaries, Ivaco Rolling Mills, Sivaco, and Infasco, are announcing the difficult but necessary steps to respond to the current challenging market environment and the threat of incoming tariffs from the United States on steel and steel derivatives. These measures […]

Economics

12 h. ago The GTA neighbourhoods where you can still get a house for under $1 million

Toronto may still be one of the least affordable places in the world for real estate, but the city's market has softened quite remarkably in the last year or so.Even if the price declines have been most notable in the condo segment — which has plummeted from its investor-driven heyday — the sheer abundance of available listings at the moment has given buyers far more choice.Price points have been pretty stubbornly stagnant overall considering the lack of activity, but there has still been room for many would-be homeowners to haggle properties down, and a number of neighbourhoods in the region where the average cost of even a house, not a condo, is now falling below the crucial $1 million mark.Homes are still selling for far under asking price in the vast majority of the Toronto areahttps://t.co/vLNpN8eLpz— blogTO (@blogTO) January 10, 2025Wahi, which hosts listings along with offering regula...

Economics

12 h. ago Online marketplace Temu allowing Canadian businesses to sell through platform

Temu says it’s launching a program allowing Canadian businesses to sell goods through the e-commerce platform to customers in the country. Temu says the move marks the first time Canadian businesses will be able to list their products directly on the site. Only businesses registered in Canada with local inventory and fulfilment capabilities will be […]

Economics

13 h. ago Apple plans to add 20,000 U.S. jobs amid tariff threats from Trump

The company plans to spend US$500 billion in the U.S. over the next four years

Economics

13 h. ago CanadaHelps Estimates $266 Million Loss for Charities Due to Canada Post Strike; Urges Canadians to Use Extended Donation Deadline to Give

Funding lost from the 2024 postal strike and a looming recession from tariff threats places Canadian charities in a precarious position TORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) — According to estimates from CanadaHelps, the country’s largest platform for donating and fundraising online, the Canada Post strike cost Canadian charities $266 million in lost donations, accounting […]

Economics

13 h. ago AfD, classified as ‘suspected’ extremist party in Germany, makes dramatic gains in election

The Alternative for Germany's surge was driven by popular anger over illegal immigration, the resultant crime, and high energy costs driven by green energy policies

Politics

13 h. ago Starbucks Canada is drastically cutting its menu offerings this year

As part of plans to make room for menu innovation across Canada, several Starbucks beverages are officially leaving menus next month.In January, Starbucks confirmed it would be "simplifying" its menu with a 30 per cent reduction in the number of food and beverage items on offer in the U.S.At the time, the coffee giant was only able to share that it would also be streamlining its offerings in Canada, but we now have further details on just what that will entail.Why is Starbucks Canada changing its menu, and how much of it is leaving?Earlier this year, Starbucks confirmed it would be reducing its menu across the country, with the goal of having "fewer, better beverage and food offerings."Now the coffee chain said around 20 per cent of its food and beverages would be removed from Canadian menus over the 2025 fiscal year, with the first items leaving on March 4.However, the coffee chain reiterated that changing the menu would help with innovation while reducing ...

Other

13 h. ago 'It's like a miracle': How a Vancouver surgeon will use a blind woman's tooth to restore her vision

It sounds crazy but it works: A tooth is extracted from a blind patient and a lens is glued inside, then the tooth is sewn into the eye — allowing the patient to see again.

Other

14 h. ago Canacol Energy Ltd. Provides 2025 Capital and Gas Sales Guidance

CALGARY, Alberta, Feb. 24, 2025 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide its capital and gas sales guidance for 2025. Dollar amounts are expressed in United States dollars, with the exception of Canadian dollar unit prices (“C$”) where indicated and otherwise noted. The Corporation announces […]

Economics

20 h. ago India, UK To Resume Free Trade Talks as US Tariff Threats Loom

India’s commerce minister will meet his British counterpart in New Delhi on Monday to revive talks on a trade deal between the two nations, at a time when the US President has unleashed a dramatic shift in global economy with his multiple plans for new tariffs.

Economics