Category Archives: Business

N.L. government to table budget today after projecting $2.1-billion deficit

ST. JOHN'S, N.L. — The Newfoundland and Labrador government is staring down a $2.1-billion deficit as it prepares to deliver a budget this afternoon. The first budget by the government of Liberal Premier Andrew Furey is coming halfway through the year

Statistics Canada to unveil GDP reading for July

OTTAWA — Statistics Canada will say today how the economy fared in July with expectations that it grew, albeit at a slower pace than in June. The average economist estimate for GDP growth in July is three per cent, according to

Deficit on track to hit $330 billion with COVID effects lasting years, says PBO

OTTAWA — The COVID-19 pandemic will leave a lasting scar on the Canadian economy that could produce permanent deficits, the parliamentary budget officer says in a report estimating this year's shortfall at $328.5 billion. That figure reflects measures ...

Gateway Casino gets first federal loan for big employers, worth $200 million

OTTAWA — A federal program aimed at giving loans to some of the largest companies in the country is rolling the dice with $200 million to a casino chain. The loan is the first from what the government has dubbed the

Finance Department says federal deficit hit $148.6 billion through July

OTTAWA — The federal government ran a deficit of $148.6 billion during the first four months of its 2020-2021 fiscal year, the result of unprecedented spending in response to the COVID-19 pandemic. The result compared with a deficit of $1.6 billion

Furloughed WestJet workers demand clarity on wage subsidy program amid pay cut

WestJet Airlines Ltd. is warning furloughed workers their pay will be cut by up to 53 per cent starting Sunday due to changes in the extended federal wage subsidy, prompting flight crews to call on Ottawa for action. The maximum weekly

Ottawa’s plan to rein in tech giants missing key pieces, say experts

TORONTO — The Liberal government unveiled a plan to rein in tech giants in its throne speech this week, but experts say there is much more that should be included. The government revealed Wednesday that it wants to address corporate tax

Some CRA online services remain unavailable a month after cyberattacks

More than a month after the Canada Revenue Agency took its website offline in the wake of a major cyberattack, the federal tax collection agency won't say when it expects its online services to fully return to normal. A number of

Airlines demand ‘concrete plan’ for financial aid after throne speech hints at relief

Canada's flight industry is tentatively taking heart in signals from the throne speech that financial help is on the way but wants to see quick, clear action to support the sector, which has been devastated by the COVID-19 pandemic.The government's

Liberals to ‘accelerate’ spending of $1-billion fund for rural internet backbone

TORONTO — The Trudeau government's plan to shepherd the economy safely past the COVID crisis includes its long-standing promise to make sure all parts of Canada have access to high-speed internet. The throne speech read Wednesday by Gov. Gen Julie Paye...