The Bank of Canada is warning that waning productivity growth in the country is an “emergency” that can force higher interest rates and limit rising wages for Canadians. Senior deputy governor Carolyn Rogers gave a speech in Halifax on Tuesday in which she sounded the alarm on Canada’s lagging productivity rates.Rogers argued that productivity is
An Alberta country music star is criticizing the province’s energy minister for advising its energy regulator to accept initial applications for a coal mine project in the eastern slopes of the Rocky Mountains in southern Alberta. Corb Lund says that after meeting with Energy Minister Brian Jean, he doesn’t believe the minister knows enough about
The annual rate of inflation across the country eased half a percentage point in January thanks largely to lower gas prices, according to Statistics Canada. The overall inflation rate was 2.9 per cent in January, the agency said Tuesday. That’s down from 3.4 per cent in December, when it accelerated slightly from the previous month.Gas
BCE Inc. is selling off 45 of its 103 regional radio stations as it cuts nine per cent of its workforce, including journalists and other workers at its Bell Media subsidiary. The affected stations are in British Columbia, Ontario, Quebec and Atlantic Canada.The company announced Thursday in an open letter signed by chief executive Mirko Bibic that
The Okanagan wine industry has been facing many challenges recently — among them wildfires and cold snaps — but the latest challenge is coming from the Alberta government. A letter obtained by Motorcycle accident toronto today from the Alberta government’s Gaming, Liquor and Cannabis Commission (AGLC), states that B.C. wine producers need to cease shipping wine directly
Former Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation. Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central
An acceleration in the annual rate of inflation to end 2023 won’t be enough to panic the Bank of Canada heading into its first interest rate decision of the year, economists argue, but it won’t hasten the timeline for cuts, either. Statistics Canada said Tuesday that the annual inflation rate ticked up to 3.4 per
Quebec restaurants say they are reeling over last-minute New Year’s Eve cancellations and no-shows. The practice costs tens of thousands of dollars a year and industry leaders say it’s only getting worse, sparking renewed calls for the province to allow restaurants to charge penalties for customers who decline to appear.On New Year’s Eve, restaurateur Constant
Commercial vessels are now able to safely pass through the Red Sea with the help of a new security initiative, the world’s largest shipping firm has announced. Maersk said in a press release Sunday that it has received confirmation that U.S.-led Operation Prosperity Guardian (OPG) has been set up and deployed, allowing commerce to safely
As residents living in a Lower Sackville ballpark prepare for freezing winter conditions in the months ahead, several community members are volunteering both time and funds to lessen the burden. Samantha Banks, vice president of the Gated Community, a group that aims to provide support for residents of the Cobequid Ballfield tent encampment in the