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Business News

Vancouver International Airport July traffic surges past 2 million

Vancouver International Airport July traffic surges past 2 million

Aug 4, 2022 / 10:10 am

One of the clearest signs that tourism in B.C. is on the rebound is that more than two million travellers passed through Vancouver International Airport in July...

July auto sales down 16% from last year as shortages persist

July auto sales down 16% from last year as shortages persist

Aug 4, 2022 / 9:22 am

DesRosiers Automotive Consultants says Canadian auto sales were down 16.2 per cent in July compared with a year earlier because of a shortage of available...

Dairy giant Saputo reports net earnings of $139 million

Dairy giant Saputo reports net earnings of $139 million

Aug 4, 2022 / 9:18 am

Dairy giant Saputo Inc. says it had net earnings of $139 million for the quarter ended June 30, up from $53 million for the same quarter last year. Chief...

Business councils call on federal government to secure trade agreement with India

Business councils call on federal government to secure trade agreement with India

Aug 4, 2022 / 9:07 am

As Canada and other Western nations ramp up their efforts to build stronger political and economic ties in Asia, business groups are calling on the federal...

Greater Toronto home sales down 47% from last year

Greater Toronto home sales down 47% from last year

Aug 4, 2022 / 7:29 am

The moderation of the Greater Toronto Area's housing market intensified last month as the region's real estate board found July sales fell 47 per cent...

Bank of England predicts recession at the end of the year

Bank of England predicts recession at the end of the year

Aug 4, 2022 / 7:25 am

The Bank of England projected Thursday that the United Kingdom’s economy will enter a recession at the end of the year as it hiked interest rates by the...

Sun Life profits fall on DentaQuest acquisition, 'unfavourable' market impacts

Sun Life profits fall on DentaQuest acquisition, 'unfavourable' market impacts

Aug 3, 2022 / 6:11 pm

Sun Life Financial Inc. says it earned $785 million or $1.34 per share in the second quarter of 2022, a 13 per cent decrease from the prior year. The...

Fertilizer giant Nutrien Ltd. earns US$3.6B as global demand surges

Fertilizer giant Nutrien Ltd. earns US$3.6B as global demand surges

Aug 3, 2022 / 5:41 pm

Nutrien Ltd. says its net profit increased 224 per cent to US$3.6 billion in the second quarter as the war in Ukraine continues to put pressure on global...

Greater Vancouver home sales down 43% from last July, 23% from June: REBGV

Greater Vancouver home sales down 43% from last July, 23% from June: REBGV

Aug 3, 2022 / 2:29 pm

The Real Estate Board of Greater Vancouver says last month's home sales were down a whopping 43 per cent from last July and 23 per cent from this past June....

Semtech buying B.C.-based Sierra Wireless for US$1.2 billion

Semtech buying B.C.-based Sierra Wireless for US$1.2 billion

Aug 3, 2022 / 7:16 am

Semtech Corp. says it's buying Vancouver-based Sierra Wireless in an all-cash deal that values the cellular technology provider at US$1.2 billion. The deal...

OPEC boosts oil output by slower pace than in previous months

OPEC boosts oil output by slower pace than in previous months

Aug 3, 2022 / 7:10 am

The OPEC oil cartel and its allies decided Wednesday to boost production in September by a much slower pace than in previous months at a time of high oil prices...

'The most expensive part of your years': Parents feel inflation's squeeze

'The most expensive part of your years': Parents feel inflation's squeeze

Aug 3, 2022 / 6:55 am

With inflation at a nearly 40-year high, Canadians are feeling the financial strain. In a six-part series this summer, The Canadian Press is speaking to people...

Finning profits increase 27 per cent amid robust industry demand

Finning profits increase 27 per cent amid robust industry demand

Aug 3, 2022 / 6:46 am

Finning International Inc. says it earned $271 million in the second quarter of 2022, a 27 per cent increase from the previous year's quarter. The...

Stephen King testifies for government in books merger trial

Stephen King testifies for government in books merger trial

Aug 2, 2022 / 6:36 pm

Stephen King didn't break any legal ground on the stand Tuesday as he testified against his own publisher's efforts to merge with Penguin Random House....

Aviation loan write-off hits HSBC Bank Canada profit

Aviation loan write-off hits HSBC Bank Canada profit

Aug 2, 2022 / 2:24 pm

Vancouver-based HSBC Bank Canada generated its highest operating income in a decade but profit fell because the bank had to write off a large aviation loan, the...

North American markets close in the red after up-and-down day of trading

North American markets close in the red after up-and-down day of trading

Aug 2, 2022 / 1:31 pm

Canada's main stock index fell slightly on the Tuesday after the August long weekend, while U.S. markets also closed in the red after a day of mixed...

Calgary home sales down 3% in July as interest rates rise: real estate board

Calgary home sales down 3% in July as interest rates rise: real estate board

Aug 2, 2022 / 11:33 am

The Calgary Real Estate Board says last month's home sales slipped by three per cent year-over-year as the market continued to experience a slowdown. The...

Fewer people buying pot from unlicensed shops last year than in 2018: B.C. study

Fewer people buying pot from unlicensed shops last year than in 2018: B.C. study

Aug 2, 2022 / 10:30 am

A new study shows the number of consumers who turned to unlicensed stores to purchase cannabis has dropped by almost 40 per cent between 2018 and 2021. The BC...

Cancelled listings, turning homes into rentals more common as housing market cools

Cancelled listings, turning homes into rentals more common as housing market cools

Aug 2, 2022 / 9:17 am

When Shannon Tebb listed her downtown Toronto loft for sale in mid-June, she did everything to make the property attractive for buyers. She hired stagers,...

10,000 Toronto condos to be delayed this year amid market shift

10,000 Toronto condos to be delayed this year amid market shift

Aug 2, 2022 / 9:15 am

Urbanation Inc. expects almost 10,000 Greater Toronto Area condo units to be delayed this year as increasing mortgage rates weigh on home sales. The condo data...

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