Business

People make their way around the Rideau Center shopping centre on Boxing Day in Ottawa, on Monday, Dec. 26, 2022. Statistics Canada will release its inflation report for December this morning. The federal agency’s consumer price index report will provide insight on how quickly prices rose last month as Canada continues to struggle with decades-high inflation.THE CANADIAN PRESS/Spencer Colby

Despite inflation slowing in December, Bank of Canada still expected to hike rates

Inflation rate peaked in the summer at 8.1 per cent and has been slowly decelerating since

People make their way around the Rideau Center shopping centre on Boxing Day in Ottawa, on Monday, Dec. 26, 2022. Statistics Canada will release its inflation report for December this morning. The federal agency’s consumer price index report will provide insight on how quickly prices rose last month as Canada continues to struggle with decades-high inflation.THE CANADIAN PRESS/Spencer Colby
Nicolas Jimenez. (Black Press Media file photo)

ICBC CEO Nicolas Jimenez to take on top role at BC Ferries

Jimenez spent close to 20 years with the insurance corporation

Nicolas Jimenez. (Black Press Media file photo)
The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. The Bank of Canada will release its business outlook and consumer expectations surveys this morning.THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. The Bank of Canada will release its business outlook and consumer expectations surveys this morning.THE CANADIAN PRESS/Sean Kilpatrick
An analyst says inflation is eroding household budgets at the same time overleveraged Canadians face sharply rising borrowing costs. (Black Press file)

Debt worries rise amid higher interest rates and persistent inflation: MNP report

Bankruptcy firm’s quarterly consumer debt index at an all-time low of 77 points

An analyst says inflation is eroding household budgets at the same time overleveraged Canadians face sharply rising borrowing costs. (Black Press file)
FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A federal judge on Friday, Jan. 13 2023 rejected Tesla CEO Elon Musk’s bid to move or delay a trial over a misleading tweet about a potential buyout of the electric automaker, setting the stage for the mercurial billionaire to be thrust into a legal drama amid the turmoil of his Twitter takeover. (AP Photo/Susan Walsh, File)

Elon Musk’s next drama: a trial over his tweets about Tesla buyout

Trial may hinge on jury’s interpretation of motive for tweets a judge already decided were false

FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. A federal judge on Friday, Jan. 13 2023 rejected Tesla CEO Elon Musk’s bid to move or delay a trial over a misleading tweet about a potential buyout of the electric automaker, setting the stage for the mercurial billionaire to be thrust into a legal drama amid the turmoil of his Twitter takeover. (AP Photo/Susan Walsh, File)
(The Canadian Press)

Stores launch Lunar New Year sales during typically slow shopping season

Western retailers grasping onto holiday as means to make money

(The Canadian Press)
Commuters wait to take the subway at Ossington Station in Toronto on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana Martin

Public transit struggling to lure back riders amid deficits, rising costs of living

Many transit systems hiking fares in attempt to cover their own pandemic losses

Commuters wait to take the subway at Ossington Station in Toronto on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana Martin
The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)

Banking regulator launches consultations on mortgage rules, proposes additions

Possible changes to existing stress test would aim to reduce overstretched borrowers

The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)
Softwood lumber is pictured in Richmond, B.C., Tuesday, April 25, 2017. An estimated 300 jobs in British Columbia will likely be gone by the end of the year as Canfor Pulp Products closes the pulp line at its Prince George pulp and paper mill. THE CANADIAN PRESS/Jonathan Hayward

Hundreds of jobs affected as Canfor announces pulp line closure at B.C. mill

Vancouver-based company blames a lack of fibre for its pulp operations

Softwood lumber is pictured in Richmond, B.C., Tuesday, April 25, 2017. An estimated 300 jobs in British Columbia will likely be gone by the end of the year as Canfor Pulp Products closes the pulp line at its Prince George pulp and paper mill. THE CANADIAN PRESS/Jonathan Hayward
Minister of Transport Omar Alghabra rises during Question Period in the House of Commons on Parliament Hill in Ottawa on Thursday, Dec. 1, 2022. THE CANADIAN PRESS/Justin Tang

Force airlines to automatically compensate travellers, passengers’ advocate says

MPs to begin an emergency study of the chaos across Canada’s airports over the holidays

Minister of Transport Omar Alghabra rises during Question Period in the House of Commons on Parliament Hill in Ottawa on Thursday, Dec. 1, 2022. THE CANADIAN PRESS/Justin Tang
Ascalon Academy has started swordsmanship classes in Kelowna and Penticton for 2023. (Brittany Webster/Capital News)

VIDEO: En garde! Fight like medieval men with Ascalon Academy in the Okanagan

Black Press reporter Brittany Webster attended a class learning the Italian rapier sword

  • Jan 10, 2023
Ascalon Academy has started swordsmanship classes in Kelowna and Penticton for 2023. (Brittany Webster/Capital News)
The Via Rail station is seen in Halifax on June 13, 2013. Martin Landry, CEO of the railway, says in a statement that beyond not having met the expectations of customers, Via Rail has not lived up to its own standards.THE CANADIAN PRESS/Andrew Vaughan

Via Rail apologizes for holiday travel disruptions, communication failures

Company offering refunds and travel credits after delays and cancellations

The Via Rail station is seen in Halifax on June 13, 2013. Martin Landry, CEO of the railway, says in a statement that beyond not having met the expectations of customers, Via Rail has not lived up to its own standards.THE CANADIAN PRESS/Andrew Vaughan
FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)

World Bank warning: Global economy is at risk of recession

Development funding institution forecasts third-weakest annual expansion in 30 years

FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)
This is the sign on a Lululemon store in Pittsburgh on Wednesday, Jan. 12, 2022. Lululemon Athletica Inc. raised its revenue guidance for its fourth quarter, but lowered its expectations for its gross margins. THE CANADIAN PRESS/AP-Gene J. Puskar

Lululemon raises revenue guidance, but lowers expectations for gross margins

Company projects net revenue for the quarter will be in a range of US$2.66 billion to US$2.7 billion

This is the sign on a Lululemon store in Pittsburgh on Wednesday, Jan. 12, 2022. Lululemon Athletica Inc. raised its revenue guidance for its fourth quarter, but lowered its expectations for its gross margins. THE CANADIAN PRESS/AP-Gene J. Puskar
FILE - A driver charges his car at a Tesla Supercharger station, Wednesday, Nov. 16, 2022, in Miami. A tweet from Elon Musk indicating that Tesla might allow some owners who are testing a “Full Self-Driving” system to disable an alert that reminds them to keep their hands on the steering wheel has drawn attention from U.S. safety regulators. (AP Photo/Rebecca Blackwell, File)

Feds reviewing Musk tweet about disabling driver monitoring

At least 14 Teslas have crashed into emergency vehicles while using the Autopilot system

FILE - A driver charges his car at a Tesla Supercharger station, Wednesday, Nov. 16, 2022, in Miami. A tweet from Elon Musk indicating that Tesla might allow some owners who are testing a “Full Self-Driving” system to disable an alert that reminds them to keep their hands on the steering wheel has drawn attention from U.S. safety regulators. (AP Photo/Rebecca Blackwell, File)
A new home is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Prospective buyers have lamented the torrid pace Canada’s real estate market has moved at in recent years, but many feel 2023 may be the year their luck changes. THE CANADIAN PRESS/Sean Kilpatrick
A new home is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Prospective buyers have lamented the torrid pace Canada’s real estate market has moved at in recent years, but many feel 2023 may be the year their luck changes. THE CANADIAN PRESS/Sean Kilpatrick
A food delivery worker rides a bike in downtown Vancouver, on Thursday, December 23, 2021. Gig work normally rises during a recession, but economists say a tight labour market and continued high inflation mean that might not happen in 2023. THE CANADIAN PRESS/Darryl Dyck
A food delivery worker rides a bike in downtown Vancouver, on Thursday, December 23, 2021. Gig work normally rises during a recession, but economists say a tight labour market and continued high inflation mean that might not happen in 2023. THE CANADIAN PRESS/Darryl Dyck
FILE - Recirculating Aquaculture Systems, which involve moving the fish farm to land as opposed to an open net fish farm, is one possible future for the aquaculture industry in British Columbia. This photo, of a boat and crane situated next to a collapsed “net pen” by Cooke Seafood off the coast of Cypress Island in Washington State in 2017, came when a net failure allowed tens of thousands of nonnative fish to escape. The incident resulted in a nearly $600,000 settlement to the Lummi Indian tribe over the net collapse and damage done to the native salmon population, and prompted the state government to end the practice of fish farming nonnative fish. regarding File Photo David Bergvall Washington State Dept. of Natural Resources via AP

B.C. aquaculture fishing for new answers as it faces its murky future in 2023

All eyes are focused on the DFO’s next move as industry looks at new systems

FILE - Recirculating Aquaculture Systems, which involve moving the fish farm to land as opposed to an open net fish farm, is one possible future for the aquaculture industry in British Columbia. This photo, of a boat and crane situated next to a collapsed “net pen” by Cooke Seafood off the coast of Cypress Island in Washington State in 2017, came when a net failure allowed tens of thousands of nonnative fish to escape. The incident resulted in a nearly $600,000 settlement to the Lummi Indian tribe over the net collapse and damage done to the native salmon population, and prompted the state government to end the practice of fish farming nonnative fish. regarding File Photo David Bergvall Washington State Dept. of Natural Resources via AP
Yasuhide Mizuno, representative director, chairman and CEO of Sony Honda Mobility Inc. speaks during a Sony news conference before the start of the CES tech show Wednesday, Jan. 4, 2023, in Las Vegas. (AP Photo/John Locher)

Sony unveils prototype EV, Afeela, to be made with Honda

First cars to be delivered to customers in North America in spring 2026

Yasuhide Mizuno, representative director, chairman and CEO of Sony Honda Mobility Inc. speaks during a Sony news conference before the start of the CES tech show Wednesday, Jan. 4, 2023, in Las Vegas. (AP Photo/John Locher)
A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., Monday, May 13, 2019. New Democrat Leader Jagmeet Singh says he wants to see more competition within Canada’s airspace in order to make flying more affordable for people.THE CANADIAN PRESS/Jonathan Hayward

Holiday travel mess shows why Canadian air travel industry needs competition: NDP

Singh calling on Liberal government to find ways to make the airline industry more competitive

A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., Monday, May 13, 2019. New Democrat Leader Jagmeet Singh says he wants to see more competition within Canada’s airspace in order to make flying more affordable for people.THE CANADIAN PRESS/Jonathan Hayward