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Business News

High interest rates threaten rollout of green economy: Wood Mackenzie report

High interest rates threaten rollout of green economy: Wood Mackenzie report

Apr 18, 2024 / 5:59 pm

Renewable energy companies in Canada are feeling the pinch of higher interest rates, which a new report says could make the net-zero transition more costly and...

B.C.-based EV-bus maker Vicinity Motors hires president, plans growth

B.C.-based EV-bus maker Vicinity Motors hires president, plans growth

Apr 18, 2024 / 5:29 pm

Ambitious Aldergrove-based Vicinity Motor Corp. (Nasdaq:VEV; TSX-V:VMC) today announced that it has hired a new president, Brent Phillips, and has plans to...

Southwest B.C. delivered record housing starts in 2023, says report

Southwest B.C. delivered record housing starts in 2023, says report

Vancouver Apr 18, 2024 / 5:27 pm

The West Coast housing market saw a significant boost in construction activity last year, according to a new report by the Chartered Professional Accountants of...

Google fires 28 workers after office sit-ins to protest cloud contract with Israel

Google fires 28 workers after office sit-ins to protest cloud contract with Israel

Apr 18, 2024 / 11:16 am

Google has fired 28 employees involved in protests over the tech company's cloud computing contract with the Israeli government, according to statements...

Booming cold drink sales mean more plastic waste. So Starbucks redesigned its cups

Booming cold drink sales mean more plastic waste. So Starbucks redesigned its cups

Apr 18, 2024 / 11:08 am

Booming sales of cold drinks at Starbucks have created a problem: growing amounts of plastic waste from the single-use cups that Frappuccinos, Refreshers, cold...

Getting the lowest mortgage rates in a high interest rate world

Getting the lowest mortgage rates in a high interest rate world

Apr 18, 2024 / 7:25 am

TORONTO - Mortgage shopping isn’t getting much easier these days. The highly anticipated interest rate cuts so many have been banking on this year keep...

Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising

Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising

United States Apr 18, 2024 / 7:21 am

The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices. Sales of previously occupied...

Solving shortage of construction workers key to housing growth: experts

Solving shortage of construction workers key to housing growth: experts

Canada Apr 18, 2024 / 5:45 am

Solving a longstanding construction worker shortage will be key to boosting housing supply, experts say, as Canada's national housing agency continues to...

Electric vehicle maker Lion Electric cuts about 120 jobs as it looks to reduce costs

Electric vehicle maker Lion Electric cuts about 120 jobs as it looks to reduce costs

Montreal Apr 18, 2024 / 5:44 am

The Lion Electric Co. says it's cutting about 120 jobs as part of a plan to reduce costs. The Montreal-based maker of electric trucks and buses says the...

Plant-based sector focused on better price, taste and texture amid consumer wariness

Plant-based sector focused on better price, taste and texture amid consumer wariness

Canada Apr 18, 2024 / 5:37 am

TORONTO - The plant-based protein industry is focused on improving the price, taste and texture of its products as it weathers a period of consumer wariness...

When it comes to Canada’s productivity, the devil is in the demographics

When it comes to Canada’s productivity, the devil is in the demographics

Apr 17, 2024 / 1:10 pm

As workplaces and industries digitize and automate work, economies will have to reckon with the reality that while robots may be able to replace certain...

Tech industry warns budget's capital gains proposals could cause 'irreperable harm'

Tech industry warns budget's capital gains proposals could cause 'irreperable harm'

Apr 17, 2024 / 10:09 am

The federal budget is being met with distain from Canada's innovation industry, including tech darling Shopify, which both positioned capital gains measures...

Engine Capital backs Simpson Oil's call for strategic review at Parkland

Engine Capital backs Simpson Oil's call for strategic review at Parkland

Calgary Apr 17, 2024 / 6:49 am

An activist investor has sent a letter to the board of directors at Parkland Corp. backing a call from the company's largest shareholder for a strategic...

Tesla to ask shareholders to reinstate $55 billion pay package for Musk rejected by Delaware judge

Tesla to ask shareholders to reinstate $55 billion pay package for Musk rejected by Delaware judge

Apr 17, 2024 / 5:45 am

Tesla will ask shareholders to reinstate a compensation package for CEO Elon Musk potentially worth $55 billion that was rejected by a judge in Delaware this...

Federal budget announces measures for open banking, predatory lending and bank fees

Federal budget announces measures for open banking, predatory lending and bank fees

Apr 17, 2024 / 5:43 am

The federal budget announced several measures affecting the banking sector, including long-promised details about a framework for open banking. Open banking is...

After 51 years, Kelowna Steel Fabricators closing its doors

After 51 years, Kelowna Steel Fabricators closing its doors

Apr 17, 2024 / 4:00 am

Their fingerprints are etched in many buildings across Kelowna and the Okanagan. Now, after 51 years, Kelowna Steel Fabricators are preparing to close the doors...

Western Forest Products indefinitely curtails Alberni Pacific Division facility

Western Forest Products indefinitely curtails Alberni Pacific Division facility

Vancouver Island Apr 16, 2024 / 4:39 pm

Western Forest Products Inc. says it's indefinitely curtailing operations at its Alberni Pacific Division facility. The Vancouver-based company says the...

Unifor withdraws Amazon union applications, citing 'suspiciously high' employee data

Unifor withdraws Amazon union applications, citing 'suspiciously high' employee data

Vancouver Apr 16, 2024 / 2:52 pm

Unifor says it’s temporarily withdrawing its applications to represent workers at two Vancouver-area Amazon facilities, accusing the e-commerce giant of...

Fed's Powell suggests that elevated inflation will likely delay rate cuts this year

Fed's Powell suggests that elevated inflation will likely delay rate cuts this year

Apr 16, 2024 / 11:12 am

Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year because...

Grocery inflation slows in March, but price growth at restaurants remains strong

Grocery inflation slows in March, but price growth at restaurants remains strong

Apr 16, 2024 / 9:44 am

Inflation on groceries continued to slow in March, rising just 1.9 per cent compared with a year earlier. That's down from February's annual rate of 2.4...

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