Unifor says it has reached a tentative deal with Ford Motor Co. that could avoid workers going on strike. The deal was reached after Unifor extended its strike deadline by 24 hours late Monday after receiving what it called a “substantive offer” from Ford.“We believe that this tentative agreement, endorsed by the entire master bargaining
Canada’s economy stalled in the second quarter of the year with real gross domestic product (GDP) “nearly unchanged,” Statistics Canada said Friday. The economy contracted 0.2 per cent annually in the quarter, the agency said, which was enough for some economists to believe the Bank of Canada would keep its key interest rate on hold
The apparent shutdown of one of the biggest trucking companies in the U.S. is having an impact north of the border, with the union for over 100 affiliated Canadian truckers claiming they’ve been told not to report for work. Yellow Corp., formerly known as YRC Worldwide Inc., has ceased operations and is filing for bankruptcy
In another chapter of the B.C. port strike, workers have now voted to reject a mediated contract offer, thereby possibly extending job action at some of Canada’s busiest ports. In an announcement late Friday, the International Longshore and Warehouse Union Canada (ILWU) president Rob Ashton said members have voted no to the contract and are
Inflation has cooled back into the Bank of Canada’s target range, but economists are warning that might not be enough to stave off future interest rate hikes. The annual rate of inflation cooled to 2.8 per cent last month, according to Statistics Canada, down from 3.4 per cent in May. That marks a substantial decline from the
The Bank of Canada has shifted to a less prescriptive messaging strategy than it used in January when it signaled a rate-hike pause that reignited the housing market, which added to inflation and the need to resume tightening five months later. Last week after lifting rates to a 22-year high of 5.0 per cent, Governor
The Bank of Canada has raised its benchmark interest rate by another 25 basis points, bringing it to levels not seen since 2001 amid fears the decline in inflation “could stall.” The central bank’s key interest rate now stands at 5.0 per cent following back-to-back hikes.Many economists, including Canada’s big six banks, had expected the
There may be movement towards an end to the bitter labour dispute that has shut down B.C.’s ports. Federal Labour Minister Seamus O’Regan sent a letter to the lead federal negotiator in the strike Tuesday to trigger section 105(2) of the Canada Labour Code, which allows them to make recommendations for a settlement of the
The sole ferry service responsible for transporting travellers between Nova Scotia and eastern Prince Edward Island has been no stranger to challenges over the past year. In 2022, a fire broke out on Northumberland Ferries Limited’s MV Holiday Island vessel and put the ship out of service permanently. It was replaced by the MV Confederation
Canada’s unemployment rate rose in June despite a substantial rebound in job gains, Statistics Canada said Friday, which economists say sends “mixed” signals to the Bank of Canada ahead of a hotly anticipated interest rate decision next week. The agency said Friday Canada added 60,000 jobs amid a gain of 110,000 new full-time positions last