Tag: business news article

CREA downgrades sales forecast as interest rates weigh on buyers – Business News

The Canadian Real Estate Association has downgraded its home sales forecast for this year and next as fewer buyers jump into the market.

The association said Friday that it expects 464,239 properties to trade hands this year, a 6.8 per cent decrease from last year. It also now predicts 516,043 being sold in 2024.

In an April forecast, CREA said it expected 492,674 properties to be sold this year, a drop of 1.1 per cent from 2022. Home sales for 2024 were predicted to total 561,090.

The forecast took into account a sales rebound that took

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WestJet shutting down discount airline Swoop

WestJet is shutting down its budget airline, Swoop.

The company made the announcement in a news release Friday, noting that the ratification of its recent deal with its pilots allows it to integrate all of its staff at various airlines into a single banner.

“As negotiated in the collective agreement, the WestJet Group will now begin integration efforts of its ultra-low-cost airline, Swoop,” the airline said.

“Through an expedited process, the airline anticipates a full integration into its mainline operations by the end of October. To avoid traveler impact, Swoop will operate its existing network through to the end of

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Businesses expect slowing prices, wage increases: BoC survey – Business News

Businesses continue to expect wage and price increases to be larger than normal, but they are shifting to closer to what they were before the pandemic, a new survey by the Bank of Canada suggests.

In its business outlook survey released Friday, the central bank said for the first time since the beginning of the pandemic businesses on balance expected slower wage growth over the next year.

Firms on balance also expected their input and output prices to grow at a slower rate over the next 12 months.

“Although firms still see cost pressures and labor

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What is an Irrevocable Trust?

A trust is an estate planning tool that allows a person to control their assets during their lifetime and make provisions for incapacity and death. Many trusts are revocable, however, irrevocable trusts can be an incredibly useful way to plan for your future.

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One thing you should know about irrevocable trusts is that, unlike revocable or living trusts, irrevocable trusts cannot be changed or amended. They are set in

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New investigation targets company executives

Connecticut’s attorney general has announced an investigation into Hyundai and Kia concerning the companies’ failure to equip millions of their vehicles with modern anti-theft technology.

In a press release Tuesday, Attorney General William Tong accused the Korean automakers of ignoring repeated calls to install the hardware, known as an engine immobilizer. The technology can prevent vehicles from being hot-wired and stolen.

In recent viral social media posts, individuals can be seen quickly starting the car using a USB cable.

“We have called on Hyundai and Kia over and over again to make this right and address the glaring public safety

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What’s spending slowdown? Retail sales suggest Canadians aren’t ready to quit shopping

Up to date retail sales numbers from Statistics Canada on Wednesday show that despite high prices and dire warnings about debt loads, Canadians remain in the mood to shop.

The data agency reported Wednesday that retailers took in $65.9 billion in April. That’s an increase of 1.1 per cent from March’s level.

Just about every type of store booked higher sales during the month, with the exception of furniture, electronics and appliances retailers, where sales shrank by 1.6 per cent from March’s level.

So-called core retail sales, which strip out volatile items like gas, cars and car parts, actually increased

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Tourism businesses could shut down within 3 years: poll

The head of the Tourism Industry Association of Canada says businesses are struggling to stay afloat under a pile of debt and a dearth of overseas visitors.

In a poll of tourism operators, some 45 per cent said they were likely or somewhat likely to shut down within three years unless the government steps in to adjust their loan conditions.

“Unless there’s some change to the payback system and the payback requirements, they’re in danger of closing in the next three years,” said Beth Potter, CEO of the trade organization.

“Everything from campgrounds to hotels to amusement parks to outdoor

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Estate Planning: 5 Things to Consider

If you are preparing to draft your estate plan with your estate planning attorney, there are a variety of issues that you will need to think about before your documents can be finalized.

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Prior to drafting your estate plan, we recommend that you give some thought to the following items:

  1. How do you want your money and assets handled if you die? Do you want any restrictions? If you are
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