economy

The Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada names Carolyn Rogers as new senior deputy governor

Rogers succeeds Carolyn Wilkins as the Bank of Canada’s second-in-command

The Bank of Canada in Ottawa on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Sean Kilpatrick
(The Canadian Press)

IPOs booming as Canadian companies refuse to let crisis deter them from going public

TMX counted 158 new listings on the exchanges as of April, while all of last year had 300 and 2019 saw 273

(The Canadian Press)
A Helijet passenger helicopter lifts off from a helipad on the harbour past gantry cranes used to load and unload container ships at the DP World terminal at port, in Vancouver, B.C., Monday, Dec. 28, 2020. THE CANADIAN PRESS/Darryl Dyck

Canada posts $1.4B trade deficit in May as imports rose and exports fell

Statistics Canada said Friday the result followed a revised surplus of $462 million in April

A Helijet passenger helicopter lifts off from a helipad on the harbour past gantry cranes used to load and unload container ships at the DP World terminal at port, in Vancouver, B.C., Monday, Dec. 28, 2020. THE CANADIAN PRESS/Darryl Dyck
Canada’s Finance Minister Chrystia Freeland, is shown ahead of the G7 finance ministers meeting at Lancaster House in London, Friday June 4, 2021. THE CANADIAN PRESS/Steve Reigate/Pool via AP

Economic aid could be extended beyond the fall if recovery falters, Freeland says

As is, measures to extend business and unemployment benefits will be in place until the end of September

Canada’s Finance Minister Chrystia Freeland, is shown ahead of the G7 finance ministers meeting at Lancaster House in London, Friday June 4, 2021. THE CANADIAN PRESS/Steve Reigate/Pool via AP
Statistics Canada’s offices at Tunny’s Pasture in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang

Economy contracted 0.3% in April, biggest hit since early days of pandemic

Attention will now turn to June as experts expect a consumer-led recovery with restrictions rolling back

Statistics Canada’s offices at Tunny’s Pasture in Ottawa are shown on March 8, 2019. THE CANADIAN PRESS/Justin Tang
Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick

Growth in Canadian household wealth on track to slow down as economy reopens

‘I think households will be tempted to restart spending on things like dining out, clothing,’ says TD Bank economist Ksenia Bushmeneva

Statistics Canada building and signs are pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada building is seen in Ottawa on April 15, 2020. THE CANADIAN PRESS/Adrian Wyld

Majority of economists expect Bank of Canada to stay put on interest rates: survey

The Bank of Canada has held its current rate since March 2020 when the COVID-19 pandemic was first declared

The Bank of Canada building is seen in Ottawa on April 15, 2020. THE CANADIAN PRESS/Adrian Wyld
A new survey finds growing confidence among Canadian businesses for the next three months, but also concerns about rising costs. (Wolf Depner/News Staff)

New survey finds rising confidence among Canadian businesses

But concerns remain, including fears of higher costs

A new survey finds growing confidence among Canadian businesses for the next three months, but also concerns about rising costs. (Wolf Depner/News Staff)
A Statistics Canada building and sign is pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick

RBC economist: Stronger economic growth for Canada expected in rest of 2021

Statistics Canada reports the economy grew by 5.6% in first quarter

A Statistics Canada building and sign is pictured in Ottawa on Wednesday, July 3, 2019. THE CANADIAN PRESS/Sean Kilpatrick
File - In this Wednesday, Nov. 11, 2020 file photo, people walk by an electronic stock board of a securities firm in Tokyo. The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds including the lack of vaccines in poorer nations. That could lead to new virus variants and more stop-and-go lockdowns, the Organization for Economic Cooperation and Development, OECD said in its latest forecast. (AP Photo/Koji Sasahara, File)

Forecast: Rebounding global economy faces multiple threats

Lack of vaccines for poorer nations among the larger issues casting a shadow over recovery

File - In this Wednesday, Nov. 11, 2020 file photo, people walk by an electronic stock board of a securities firm in Tokyo. The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds including the lack of vaccines in poorer nations. That could lead to new virus variants and more stop-and-go lockdowns, the Organization for Economic Cooperation and Development, OECD said in its latest forecast. (AP Photo/Koji Sasahara, File)
Finance Minister Chrystia Freeland responds to questions from MPs after she delivered the federal budget in the House of Commons in Ottawa on Monday April 19, 2021. THE CANADIAN PRESS/Sean Kilpatrick

Rising interest rates could dampen stimulus impact from federal budget, PBO says

The Bank of Canada is expected to raise its trendsetting interest rate before the end of next year

Finance Minister Chrystia Freeland responds to questions from MPs after she delivered the federal budget in the House of Commons in Ottawa on Monday April 19, 2021. THE CANADIAN PRESS/Sean Kilpatrick
A CIBC sign is shown in the financial district in Toronto on August 22, 2017. THE CANADIAN PRESS/Nathan Denette

Economic boost coming in the back half of 2021, if vaccination stays effective: CIBC

CIBC earned $1.65 billion or $3.55 per diluted share in its second quarter

A CIBC sign is shown in the financial district in Toronto on August 22, 2017. THE CANADIAN PRESS/Nathan Denette
Bank of Canada deputy governor Timothy Lane delivers a keynote at the Ottawa Board of Trade in Ottawa, on Thursday, Dec. 5, 2019. THE CANADIAN PRESS/Justin Tang

Bank of Canada digital currency would be greener than Bitcoin, deputy says

Elon Musk said that Tesla would suspend vehicle purchases using Bitcoin out of environmental concern

Bank of Canada deputy governor Timothy Lane delivers a keynote at the Ottawa Board of Trade in Ottawa, on Thursday, Dec. 5, 2019. THE CANADIAN PRESS/Justin Tang
People are silhouetted as they wait in line to check their luggage on Friday, March 9, 2007 at Pearson International Airport in Toronto for March Break. A new report by Statistics Canada says job losses due to the COVID-19 pandemic have been consistently more severe for women than for men. THE CANADIAN PRESS/Nathan Denette

Statistics Canada report says pandemic job losses hit women harder than men

The analysis points to a high proportion of women working at small firms in service industries

People are silhouetted as they wait in line to check their luggage on Friday, March 9, 2007 at Pearson International Airport in Toronto for March Break. A new report by Statistics Canada says job losses due to the COVID-19 pandemic have been consistently more severe for women than for men. THE CANADIAN PRESS/Nathan Denette
Ravi Kahlon listens as John Horgan speaks to supporters during a campaign stop in Surrey, B.C., on Monday May 8, 2017. The British Columbia government is poised to announce details of a provincial restart plan on Tuesday. THE CANADIAN PRESS/Darryl Dyck

Horgan: B.C.’s post-COVID-19 road map to be revealed Tuesday

Plan to restart B.C.’s economy to be revealed as COVID restrictions ease says premier

Ravi Kahlon listens as John Horgan speaks to supporters during a campaign stop in Surrey, B.C., on Monday May 8, 2017. The British Columbia government is poised to announce details of a provincial restart plan on Tuesday. THE CANADIAN PRESS/Darryl Dyck
Shoppers collect items from a pick-up area at Eaton Centre shopping mall. THE CANADIAN PRESS/Chris Young

Canadian economy lost 207,000 jobs in April, unemployment rate rises

The losses in April nearly wiped out the 303,000 jobs added in March

Shoppers collect items from a pick-up area at Eaton Centre shopping mall. THE CANADIAN PRESS/Chris Young
A Wealthsimple Trade app icon is shown on a smartphone on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Jesse Johnston

Drake, Ryan Reynolds among latest Wealthsimple backers in $750 million funding round

Wealthsimple began as an online investment manager in 2014

A Wealthsimple Trade app icon is shown on a smartphone on Tuesday, Dec. 15, 2020. THE CANADIAN PRESS/Jesse Johnston
Economists say the Canadian dollar is at a ‘sweet-spot’ after hitting a three-year-high yesterday, reaching a point where it benefits consumers but doesn’t hurt businesses too much. THE CANADIAN PRESS/Jonathan Hayward

Rising loonie hits ‘sweet spot,’ likely to climb further: economists

The loonie traded for 81.34 cents US Thursday, the highest level since February 2018. It’s been above 80 cents US since last week.

Economists say the Canadian dollar is at a ‘sweet-spot’ after hitting a three-year-high yesterday, reaching a point where it benefits consumers but doesn’t hurt businesses too much. THE CANADIAN PRESS/Jonathan Hayward
Statistics Canada’s offices in Ottawa are shown on Friday, March 8, 2019. THE CANADIAN PRESS/Justin Tang

Early estimate from Statistics Canada shows economic growth has slowed

‘The lull in between waves reveals how quickly Canadian activity can bounce back when the virus is contained,’ says economist Royce Mendes

Statistics Canada’s offices in Ottawa are shown on Friday, March 8, 2019. THE CANADIAN PRESS/Justin Tang
Smoke pours from the stacks at the Portlands Energy Centre in Toronto on Thursday January 15, 2009. THE CANADIAN PRESS/Frank Gunn

Risk experts say climate change to take big chunk of Canadian economy by 2050

Jerome Haegeli says the world’s current path puts Canada on track to lose 7% of its gross domestic product

Smoke pours from the stacks at the Portlands Energy Centre in Toronto on Thursday January 15, 2009. THE CANADIAN PRESS/Frank Gunn