Daniel Tencer
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Wages Are Falling In Canada

(8) Comments | Posted July 31, 2015 | 1:26 PM

Canadians’ average weekly earnings saw an unusually steep fall in May, according to data from Statistics Canada.

The latest survey of payroll employment, earnings and hours found wages dropped by 0.6 per cent from April to May, to $948 on average per week.

Wages are still up 1.4...

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Canada's Economy Shrinks For 5th Straight Month; Recession Virtually Unavoidable

(17) Comments | Posted July 31, 2015 | 8:56 AM

Canada's economic contraction accelerated in May, shrinking 0.2 per cent on the month, Statistics Canada said Friday.

That marks the fifth straight month that the economy has shrunk, with every month since the start of the year registering a negative number. The rate of decline in May was twice that...

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TPP Trade Deal Proposal Would See CBC, Canada Post Exist Solely For Profit

(198) Comments | Posted July 30, 2015 | 12:57 PM

A leaked document from the Trans-Pacific Partnership (TPP) trade talks indicates the CBC, Canada Post and other Crown corporations could be required to operate solely for profit under the deal’s terms.

It’s unknown whether the principles outlined in the document will be a part of the final agreement, but the...

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Canadian Banks' Record Profits ‘Achieved At Expense Of Customer Satisfaction': J.D. Power

(39) Comments | Posted July 30, 2015 | 7:19 AM

Canadians are growing increasingly dissatisfied with their banks and rising fees are among the main reasons why, says a new study from J.D. Power.

“Record profits for retail banks in Canada are being achieved at the expense of customer satisfaction as customers report increased fees and reduced levels of service...

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Harper Says High Debt Levels A Sign Of Consumer Confidence, As Consumer Confidence Drops

(64) Comments | Posted July 29, 2015 | 4:09 PM

Prime Minister Stephen Harper says Canadian consumers’ high debt loads are a sign of confidence in the economy.

But Harper’s comments come as two separate measures of Canadian consumer confidence showed steep declines in recent weeks.

Though the government is concerned about some borrowers’ ability to pay, overall Canadians’...

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Canada's Biggest Housing Bear Just Turned Even More Pessimistic

(13) Comments | Posted July 29, 2015 | 2:21 PM

  • Capital Economics sees 30% decline in Canada’s ‘dangerously high’ house prices
  • Risk of oversupply of new homes
  • U.S. homeownership rate lowest on record

David Madani of Capital Economics has long been one of Canada’s most prominent property market bears, predicting for years that house prices in Canada are...

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Lawsuit Alleges Anti-Canadian Prejudice In Washington, DC, Police

(3) Comments | Posted July 28, 2015 | 5:54 PM

We've all heard of prejudice against ethnic groups, but here's one ethnic group you don't often think of as victims of discrimination: Canadians.

A former employee of Washington, D.C.’s Metropolitan Police Department (MPD) has brought a workplace harassment lawsuit against the force, accusing a former supervisor of discriminating against her...

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Data Doesn't Show A Canadian Recession, C.D. Howe Economists Say

(42) Comments | Posted July 28, 2015 | 2:50 PM

Canada’s economy shrank in the first four months of the year, but the evidence does not show a recession and it’s “too soon to declare a downturn,” according to a poll of 12 prominent economists on a C.D. Howe Institute council.

“The data do not at this time allow declaring...

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LOOK: Canada Selling Aussie Mansion For 127 Times The Purchase Price

(5) Comments | Posted July 27, 2015 | 3:29 PM

Australia’s residential real estate market is so hot it’s probably the one country that gets more predictions of a housing bubble than Canada.

So hot, in fact, that the Canadian government stands to make a pretty hefty profit on its consul-general’s residence in Sydney.

The house in the...

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'Nothing In Analyzable History' To Compare To Oil Price Crash, Analyst Warns

(158) Comments | Posted July 27, 2015 | 1:09 PM

  • Worst oil price crash in 45 years, Morgan Stanley says
  • Nearly one-third of $200B in cancelled projects are in Canada
  • Energy industry now a drain on job growth

Anyone hoping for a quick recovery in oil prices should prepare to be disappointed.

What looked like a bounce-back in...

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‘Don't Count' On Economic Boost From Tories' Child Benefit Cheques: CIBC

(28) Comments | Posted July 24, 2015 | 2:19 PM

Recent polling suggests the $4 billion in Universal Child Care Benefit cheques the Harper government is mailing out this month is giving the Tories a boost in the polls. But there probably won't be a similar boost to the economy from the cheques, CIBC says in a new...

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Amazon Is Now Bigger Than Walmart, At Least According To The Stock Market

(1) Comments | Posted July 24, 2015 | 12:41 PM

Maybe it was inevitable: Retail’s online giant has just unseated retail’s brick-and-mortar giant on the stock market. Based on market value, Amazon is now bigger than Walmart.

Amazon shares surged more than 15 per cent in overnight trading Thursday night following a better-than-expected quarterly earnings report, sending the online retailer’s...

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Ontario's Plan For Highway Lanes For The Rich Sends A Terrible Message

(102) Comments | Posted July 23, 2015 | 5:19 PM

Are you like me? Did you suspect right off the bat that Ontario's "temporary" HOV lanes for the Pan Am Games would prove not to be temporary at all?

Those of us who did have been vindicated by Ontario Premier Kathleen Wynne's confirmation this week that the province plans to...

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Valeant Is Canada's New Largest Company, Because Health Care Stocks Are Going Wild

(0) Comments | Posted July 23, 2015 | 2:47 PM

Canada has a new largest company, and for once it isn’t a bank.

Laval, Quebec-based Valeant Pharmaceuticals surpassed the Royal Bank of Canada on Thursday to hold the title of Canada’s largest company, by market value.

With Valeant’s shares up about 4.4 per cent as of 2 pm ET, following...

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$400 Million Class-Action Lawsuit Launched Against Uber In Ontario

(28) Comments | Posted July 23, 2015 | 12:58 PM

On the same day that Uber announced a major expansion of its UberX ride service in Ontario, a Toronto-area cabbie has launched a class-action lawsuit against the service, seeking $400 million in damages over lost income.

Lawyers for Dominik Konjevic, a licensed taxi driver in Mississauga, say the claim is...

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Immobilier: le prix des maisons au Canada pourrait bientôt diminuer, selon l'agence de notation Fitch

(0) Comments | Posted July 23, 2015 | 11:18 AM

Le prix des maisons augmente de façon effrénée dans certaines parties du Canada depuis le début de l’année, mais l’agence de notation Fitch croit que cette bulle éclatera bientôt.

L’agence estime que les maisons sont surévaluées d’environ 20%, le chiffre variant selon les régions, et que le marché...

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‘Doomsday Scenario': Ashley Madison Might Not Survive Hack Attack, Experts Say

(13) Comments | Posted July 22, 2015 | 5:04 PM

The hackers who allegedly broke into Ashley Madison, the dating site for cheaters, say they will release the identities of the site’s 37 million subscribers if the site isn’t shut down.

But some PR experts and market analysts say the hackers won’t even have to go through with their...

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Majority Believes Canada Already In Recession: Poll

(17) Comments | Posted July 22, 2015 | 2:08 PM

A majority of Canadians isn't buying Finance Minister Joe Oliver’s assertions that Canada has avoided a recession.

Fifty-eight per cent of respondents in a new poll from Forum Research say Canada is in a recession right now, with less than a third — 29 per cent — saying...

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Cheap Oil, Pricey Gas ‘A Lose-Lose Situation': BMO

(98) Comments | Posted July 22, 2015 | 9:33 AM

There was supposed to be a silver lining to the oil price collapse that has devastated Western Canada’s economy. Lower energy prices would lead to lower gas prices, which would put more money in consumers’ pockets and help Canada’s economy avoid a recession.

But if you’re a regular driver, you’ve...

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Fitch: Canadian Homes 20% Overvalued, Correction Coming

(31) Comments | Posted July 20, 2015 | 12:27 PM

Some parts of Canada have seen runaway house price growth so far this year, but Fitch ratings agency says all that is coming to an end soon.

The agency estimates that homes are about 20 per cent overvalued, with some variation depending on the region, and the market is headed...

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