Monday, August 31st16.4°C

Alberta facing $5.9B deficit

Aug 31, 2015 / 12:33 pm

Alberta's finance minister says the province is on track to record a $5.9-billion deficit this year as the oil crunch hits families and businesses. Joe Ceci has released figures for the first three months of the 2015-16 fiscal year which began April 1. Revenue for the year is forecast at...

Van, T.O. markets still hot

Aug 31, 2015 / 10:20 am

The cost of owning a home has been holding steady in most parts of Canada, but affordability declined during the second quarter in the two most expensive markets, Vancouver and Toronto, a report by Royal Bank says. In its latest analysis of housing trends, RBC also said Monday it expects prices...

Another year of oil pains

Aug 31, 2015 / 9:51 am

Oil companies are in for at least another year of pain, according to Scotiabank's latest commodity price index. West Texas Intermediate crude is expected to stay below US$50 a barrel for the next 12 months, vice-president and commodity market specialist Patricia Mohr said in the report...

Recession will be short-lived

Aug 31, 2015 / 9:39 am

Economists say data out this week is likely to show that Canada slipped into a technical recession in the second quarter, but the contraction should be short-lived. TD chief economist Beata Caranci says the benefit of the lower loonie to Canada's export sector should boost growth in the...

Signing up despite leak

Aug 31, 2015 / 8:20 am

The owners of adultery website Ashley Madison say hundreds of thousands of people signed up for their website in the past week despite a recent cyberattack that leaked the personal information of many of their users. Toronto-based Avid Life Media, the parent company of Ashley Madison, claims...

Welcome to the 'agrihood'

Aug 31, 2015 / 6:01 am

Community agriculture is going mainstream, and big business has taken note. No longer limited to a few gardening boxes on an old parking lot, the trend is taking centre stage in housing developments being built around the idea of community-grown local food. The agriculture-based developments,...

No enviro damage in blast

Aug 31, 2015 / 5:48 am

Syncrude says there was no environmental impact after an explosion and fire at an Alberta processing site near Fort McMurray. The company says the fire was quickly extinguished at its Mildred Lake upgrader and there were no injuries. It adds that it's investigating the cause of the...

Airline passengers stranded

Aug 29, 2015 / 5:58 am

The Canadian Transportation Agency is being asked for an emergency order to protect and compensate stranded passengers of SkyGreece Airlines, which ceased operations on Thursday after more than a week of disrupted service. A claim filed Friday by passenger rights advocate Gabor Lukacs says the...

Air Canada deal a glitch

Aug 28, 2015 / 6:55 pm

It was too good to be true. Earlier this week, Air Canada’s website offered a package of 10 flights within Western Canada for a total cost of $800 before taxes. Two Calgary men quickly snapped up the promotion. They each received a confirmation number and a receipt, but the next day,...

Surplus: real or not?

Aug 28, 2015 / 4:27 pm

Stephen Harper trumpeted a new economic report Friday that he said validates his government's policies, but questions quickly emerged as to whether the Conservative leader was offering too rosy an interpretation. The Department of Finance's monthly Fiscal Monitor reported a $5-billion...

$9.2 billion Q3 for big six

Aug 28, 2015 / 3:05 pm

Canada's six biggest banks earned a whopping $9.2 billion in combined profits during the third quarter ended July 31, even amid investor concerns about how the plummet in the price of oil and Canada's contracting economy would weigh on the lenders' bottom lines. Here are a few key...

Beer trial will have fallout

Aug 28, 2015 / 2:39 pm

Lawyers for a New Brunswick man fighting a fine for buying cheap booze and bringing it into the province reiterated their position Friday that provincial laws are unconstitutional as they presented closing arguments. The judge has reserved decision until April in a case that could have...

Goodyear blimp retiring

Aug 28, 2015 / 9:07 am

The fabled Goodyear Blimp, which has been seen floating over American sports events for generations, is retiring. But that big, cigar-shaped dirigible will remain instantly recognizable with its blue-and-gold Goodyear logo emblazoned across the side. It just won't be, technically, a...

What was that all about?

Aug 28, 2015 / 9:06 am

With the Chinese stock market turmoil that incited global panic abated — at least for now — here are some questions and answers about it, as well as lessons to learn: ___ WHY DID THE CHINESE STOCK MARKET PLUNGE SO MUCH? China's main stock index tumbled nearly 23 per cent...

Ottawa posts $1.1B surplus

Aug 28, 2015 / 8:42 am

The federal government posted a surplus of nearly $1.1 billion for June — half a billion less than in the same month last year when the surplus was $1.6 billion. The surplus came as the federal government's revenue increased by $600 million to $24.3 billion for the month. Excise...

Ashley Madison CEO quits

Aug 28, 2015 / 7:39 am

The CEO of adultery website Ashley Madison is stepping down in the wake of the massive breach of the company's computer systems and outing of millions of its members. Avid Life Media Inc., Ashley Madison's parent company, says Noel Biderman's departure was a mutual decision and in...

Oil jumps 10 per cent

Aug 27, 2015 / 3:58 pm

North American markets surged for a second consecutive session Thursday as investors continued to buy up stocks beaten down in a six-day sell-off that started over a week ago amid fears of a major slowdown in China's economy. In Toronto, the S&P/TSX composite index — up more than...

1 billion log in

Aug 27, 2015 / 3:33 pm

For the first time, a billion people used Facebook in a single day on Monday. CEO Mark Zuckerberg marked the occasion with a post on his Facebook page, saying that one out of seven people on Earth logged in to the social network to connect with their friends and family. The 1 billion figure...

Chain buys Don Folk Chev

Aug 27, 2015 / 12:14 pm

One of the oldest dealerships in Kelowna is about to be sold. AutoCanada, the largest public dealer group in Canada, has obtained approval from General Motors Canada to purchase Don Folk Chevrolet. The terms of the sale have not been released. Under terms of the agreement, AutoCanada will...

Imperial to tap northern gas

Aug 27, 2015 / 10:55 am

Imperial Oil is hanging on to hope that its long-dormant plan to tap into natural gas fields in the Far North may eventually come to fruition. The lead partner in the Mackenzie Gas Project has written to the National Energy Board seeking a seven-year extension to a sunset clause attached to...

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