Canada

26 Jan Ikea is slashing the price of its Lagkaptens despite shipping problems in the Red Sea

Posted at 09:00h in Canada

As many retailers face inflation and raise prices, Ikea says it's doing the opposite even as shipping difficulties ramp up in the Red Sea. The store, known for assemble-it-yourself desks and chairs, is dropping the prices on some popular products in what experts say is an attempt to lure in cost-sensitive...

25 Jan U.K. walks away from trade talks with Canada

Posted at 19:55h in Canada

British negotiators walked away from trade talks with Canada Thursday — a dramatic development that taps the brakes on a bilateral trade deal between the two Commonwealth nations that has been years in the making.A major sticking point is how much access U.K. producers should have...

25 Jan U.S. economy grows more than expected at end of 2023, driven by consumer spending

Posted at 16:01h in Canada

The U.S. economy grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households.Thursday's report from the U.S. Commerce Department said the...

25 Jan Did Boeing learn from past mistakes? Mid-air blowout has again put company on defensive

Posted at 09:03h in Canada

Toronto resident Chris Moore, whose daughter Danielle was killed in the Ethiopian Airlines crash of a Boeing 737 Max in 2019, said he wasn't surprised when he heard of the mid-air blowout on a Boeing 737 Max 9 jet earlier this month."It's just a matter of time before something...

25 Jan Interest rate cuts are coming, but the Bank of Canada won’t say when

Posted at 09:00h in Canada

Weary Canadian households, clobbered by nearly two years of rising prices and skyrocketing interest rates, will have to wait a little longer for relief on their borrowing costs.The Bank of Canada left its key overnight lending rate unchanged at five per cent on Wednesday, citing the...

24 Jan Netflix reports the money is rolling in — and so are advertisements for Canadian subscribers

Posted at 21:55h in Canada

Netflix told investors it has added millions of new customers and has lots of room to grow its revenue — with part of that growth coming from the planned elimination of the cheapest, ad-free plan available to Canadians.According to fourth quarter results, released late Tuesday afternoon, Netflix...

24 Jan Bank of Canada says government efforts to curb housing crisis will help ‘gradually’

Posted at 20:14h in Canada

The Bank of Canada says record levels of immigration are driving up the cost of housing and recent government efforts to cut the number of non-permanent residents and encourage home building will help lower housing costs, but "only gradually." "In the short term any increase in population,...

24 Jan Hardware chain Rona cutting 300 jobs, closing two distribution centres

Posted at 17:33h in Canada

Rona Inc. says it's cutting about 300 jobs and closing two distribution centres as part of a plan to adjust its operating model and eliminate inefficiencies.The home improvement retailer says it will consolidate operations into its core buildings, closing a distribution centre in Terrebonne, Que., in...

24 Jan No change on interest rate as Bank of Canada sticks to 5%

Posted at 14:47h in Canada

Business·BreakingCanada's central bank has announced its trendsetting interest rate will remain steady at five per cent, in a move widely expected by economists.Central bank keeps trendsetting rate steady for 4th consecutive timeAnis Heydari · CBC News · Posted: Jan 24, 2024 9:47 AM...

24 Jan At this open-pit gold mine in northeastern Ontario, the trucks drive themselves

Posted at 11:00h in Canada

A new open-pit gold mine in northeastern Ontario has turned to automation — including nearly 300-tonne hauling trucks that drive themselves — in a bid to increase productivity and worker safety.The Côté Gold project near Gogama, halfway between Sudbury and Timmins, is expected to produce around 440,000...