Business
Home prices expected to climb 4.9% in 2024 as sales rise last month: CREA
By Sammy Hudes, The Canadian Press on April 12th, 2024
The Canadian Real Estate Association says it’s now expecting the national average home price to climb 4.9 per cent on an annual basis to $710,468, more than double the hike it had predicted at the start of 2024. In its updated outlook for the year released Friday, CREA said it now expects 492,083 homes to ... Read More »
Be the first to comment!Regulator limiting leverage in bank mortgage portfolios
By The Canadian Press on April 12th, 2024
OTTAWA – Canada’s banking regulator says it will be putting limits on how much leverage banks allow in their uninsured mortgage portfolios. The Office of the Superintendent of Financial Institutions says the loan-to-income limit on new uninsured mortgages will help reduce the risk of borrowers being unable to pay their loans. Because the limit will ... Read More »
Be the first to comment!S&P/TSX composite down, U.S. stock markets also lower
By The Canadian Press on April 12th, 2024
TORONTO – Canada’s main stock index was down in late-morning weighed down by losses in the technology and financial stocks, while U.S. stock markets also fell. The S&P/TSX composite index was down 25.51 points at 22,084.60. In New York, the Dow Jones industrial average was down 349.85 points at 38,109.23. The S&P 500 index was ... Read More »
Be the first to comment!Corus CEO hopeful TV advertisers will return as company posts $9.8M Q2 loss
By Sammy Hudes, The Canadian Press on April 12th, 2024
TORONTO – Despite a drop in advertising revenue, the chief executive of Corus Entertainment Inc. says he is confident the television and radio broadcaster can draw advertisers back as it focuses more on growing digital and streaming audiences. The company reported a loss attributable to shareholders of $9.8 million in its latest quarter compared with ... Read More »
Be the first to comment!Liberals say their plan to ‘solve the housing crisis’ will build 3.9M homes by 2031
By Nojoud Al Mallees, The Canadian Press on April 12th, 2024
OTTAWA – The federal Liberals have unveiled their plan to solve the housing crisis, building on recent announcements with new tax incentives, more than a billion dollars for homelessness and a country-wide effort to build more housing on public lands. “Today we are releasing the most comprehensive and ambitious housing plan ever seen in Canada,” ... Read More »
Be the first to comment!Stormy weather, ‘sluggish’ spending push MTY Food Group’s Q1 profits, revenue down
By Tara Deschamps, The Canadian Press on April 12th, 2024
Inclement weather and “sluggish” consumer spending delivered a double whammy to MTY Food Group Inc. in its first quarter, pushing the fast-food chain owner’s profits down from a year ago. The Montreal-based restaurant owner, whose collection of brands includes Thai Express, Manchu Wok, Mucho Burrito and Cold Stone Creamery, reported a profit of $17.3 million ... Read More »
Be the first to comment!Liberals release plan to ‘solve the housing crisis,’ branding it as a call to action
By Nojoud Al Mallees, The Canadian Press on April 12th, 2024
OTTAWA – The federal Liberals have unveiled their plan to solve the housing crisis, building on recent announcements with new tax incentives, more than a billion dollars for homelessness and a country-wide effort to build more housing on public lands. The 28-page document, which comes days ahead of the federal budget, is the minority government’s ... Read More »
Be the first to comment!US consumer sentiment falls slightly as outlook for inflation worsens
By Christopher Rugaber, The Associated Press on April 12th, 2024
WASHINGTON (AP) – Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this month, down from March’s figure of 79.4. Sentiment is about halfway between its ... Read More »
Be the first to comment!March home sales, average price rise from year ago: CREA
By The Canadian Press on April 12th, 2024
OTTAWA – The Canadian Real Estate Association says the number of home sales in March rose 1.7 per cent compared with a year ago. The increase came as the average price of a home sold last month amounted to $698,530, up two per cent from March 2023. On a month-over-month basis, CREA says home sales ... Read More »
Be the first to comment!JPMorgan again warns investors about “uncertain” year ahead. Big banks issue mixed profit reports
By Ken Sweet, The Associated Press on April 12th, 2024
NEW YORK (AP) – JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions. The remarks came as JPMorgan – as well as its major competitors Citigroup and Wells Fargo – reported their first quarter results. JPMorgan had ... Read More »
Be the first to comment!Toronto airports authority announces ‘decade-long investment’ in Pearson Airport
By Rosa Saba, The Canadian Press on April 12th, 2024
Toronto’s airports authority has announced a multibillion-dollar plan to update and modernize Toronto Pearson Airport. The Greater Toronto Airports Authority said it launched the first phase of procurement for Pearson LIFT, a plan intended to help the airport meet growing demand for its services. “This is the very beginning of what will be a decade-long ... Read More »
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