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Economy, Law & Politics

Statistics Canada says wholesale sales up 2.1 per cent in October

Statistics Canada says wholesale sales up 2.1 per cent in October

OTTAWA — Statistics Canada says wholesale sales rose 2.1 per cent to $83.4 billion in October, boosted by gains in the miscellaneous goods, building material and supplies, and personal and household goods subsectors.
Contraband tobacco inhales 30 to 50 per cent of B.C. market, retailers, industry fear

Contraband tobacco inhales 30 to 50 per cent of B.C. market, retailers, industry fear

VICTORIA — At first, Cory Holland thought government anti-smoking measures were working when he noticed tobacco sales at his British Columbia convenience store started to drop.
In The News for Dec. 16: Are Canadians losing money by not filing taxes?

In The News for Dec. 16: Are Canadians losing money by not filing taxes?

In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what's on the radar of our editors for the morning of Dec. 16 ... What we are watching in Canada ...
Canada is losing ground and falling behind U.S. on trade with Africa, senators say

Canada is losing ground and falling behind U.S. on trade with Africa, senators say

OTTAWA — Senators are warning Trade Minister Mary Ng that Ottawa may be falling behind its peers in establishing deeper trade ties with Africa. "We're not in some of the geographies we need to be," Ontario Sen.
S&P/TSX composite down nearly 400 points, U.S. stock markets also lower

S&P/TSX composite down nearly 400 points, U.S. stock markets also lower

TORONTO — Canada's main stock index was down nearly 400 points in a broad-based decline in late-morning trading, while U.S. stock markets also fell a day after the U.S.
Supply-chain turbulence is here to stay, so what is Canada doing about it?

Supply-chain turbulence is here to stay, so what is Canada doing about it?

OTTAWA — Finance Minister Chrystia Freeland has lots of reasons to be losing sleep. Soaring living costs have Canadians lined up at food banks. The federal Liberals are anticipating a possible recession.
Fed raises key rate by half-point and signals more to come

Fed raises key rate by half-point and signals more to come

WASHINGTON (AP) — The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come.
BOC governor Tiff Macklem defends recent interest-rate hike

BOC governor Tiff Macklem defends recent interest-rate hike

Macklem spoke today at the Fairmont Hotel Vancouver
Vancouver economy set for 2023 slowdown as labour strains, interest rates take toll

Vancouver economy set for 2023 slowdown as labour strains, interest rates take toll

Think tank expects real GDP to expand 2.2% next year – down from 2.8% growth in 2022
Budget officer projects considerably slower economy, declining federal deficit

Budget officer projects considerably slower economy, declining federal deficit

OTTAWA — The parliamentary budget officer is projecting the economy will slow considerably in the second half of 2022 and remain weak next year as the Bank of Canada continues to raise interest rates.
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