Tag: business news stories

Households now owe more than Canada’s entire GDP, the housing agency warns

Canadian households are more in debt than those in any other G7 country, and the amount they owe is now more than the value of the country’s entire economy.

That was one of the main takeaways of a new report from Canada’s housing agency, the Canada Mortgage and Housing Corporation, which backstops much of the country’s housing market via mortgage insurance.

In a report published Tuesday, the CMHC’s deputy chief economist Aled ab Iorwerth said Canada’s economy is more at risk to whatever crises may arise because of how much debt Canadian households have racked up.

“Canada’s very high levels

…
Read More

What You Need to Know About Licensing and Credentialing

Many of our clients have had questions or issues regarding their license or credentialing. New physicians and physicians who have been practicing for years can all encounter issues with their medical licenses. We help our clients work to get the answers and results they need.

We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog ).

Depending on the issues that you may be having, there are different approaches to take in dealing with the Bureau of Professional Licensing and the

…
Read More

Important team and business changes

Team –

We are changing the shape of Shopify significantly today to pay unshared attention to our mission. There are a number of consequences to this, and I don’t want to bury the lede: after today Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics; this means some of you will leave Shopify today. I recognized the crushing impact this decision had on some of you, and did not make this decision lightly.

In the next 5 minutes you’ll get a follow up that tells you if you are affected. There’s no way to make this

…
Read More

Mondelez reveals CoLab snack brand participants

CHICAGO — SnackFutures, the innovation and venture team at Mondelez International, Inc., has unveiled the nine rising snack brands participating in its third annual CoLab.

First launched in 2021, CoLab is a startup program that helps Mondelez build a portfolio of “disruptive brands and venture pipelines.” Participants will receive a 12-week curriculum of virtual and hands-on sessions as well as networking opportunities and a $20,000 grant.

For its third class, CoLab is focusing on unique brands that can enhance Mondelez’s core businesses and potentially allow the company to explore new food categories. The 2023 CoLab class participants are:

CoCoTerra: A

…
Read More

Vancouver’s April home sales down 16.5% from a year ago – Business News

Home sales are still down

The Canadian Press – | Stories: 424568

The Real Estate Board of Greater Vancouver said April home sales slid 16.5 per cent from a year ago as new listings remained below historical norms.

The BC board says sales for the month totaled 2,741, almost 16 per cent below the 10-year seasonal average.

The composite benchmark price for all residential properties in Metro Vancouver hit $1,170,700 last month, down 7.4 per cent from a year ago but up 2.4 per cent from March.

There were 4,307

…
Read More

HSBC expects later close of Canadian division sale to RBC – Business News

HSBC sale delayed

The Canadian Press – | Stories: 424569

HSBC Holdings plc says the sale of its Canadian division to Royal Bank of Canada is going to take longer than first expected, but that the deal remains a key priority.

London-based HSBC says it now expects to complete the $13.5-billion transaction in the first quarter of 2024, rather than late this year as it guided when it announced the deal last November.

The bank says the later close is to ensure a smooth transition, while several other recent bank

…
Read More

Toronto homeowners’ cost of living costs almost 60%

Canada’s biggest city isn’t just expensive for homeowners. Renters’ costs have suffered 22%

Published May 01, 2023 • Last updated 1 day ago • 4 minute read

Costs for Toronto homeowners have skyrocketed 58 per cent since last year.
Costs for Toronto homeowners have skyrocketed 58 per cent since last year. Photo by Ernest Doroszuk/Toronto Sun/Postmedia
…
Read More

Economist disputes Bank of Canada assertion wages stoke inflation

Frances Donald says structural changes such as trade barriers and climate change have fundamentally altered price dynamics

Published April 24, 2023 • Last updated 1 day ago • 3 minute read

Bank of Canada governor Tiff Macklem and senior deputy governor Carolyn Rogers leave a news conference after announcing an interest rate decision in Ottawa, in April.
Bank of Canada governor Tiff Macklem and senior deputy governor Carolyn Rogers leave a news conference after announcing an interest rate decision in Ottawa, in April. Photo by Blair Gable/Reuters

One of Bay Street’s most prominent economists questioned the Bank of Canada’s emphasis on wage growth as a driver of inflation, arguing that structural changes such as a proliferation of trade barriers

…
Read More