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Loonie Plunges Through 80 Cents U.S. In Currency's Biggest 2-Year Drop Ever

(10) Comments | Posted January 28, 2015 | 4:48 PM

The Canadian dollar fell through a psychologically important barrier Wednesday, trading for the first time in five years below 80 cents U.S.

The loonie was hovering at 79.8 cents U.S. as of Wednesday afternoon, having followed oil prices downward for yet another day.

Bank of Montreal chief economist Doug...

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Rick Mercer Rant: Joe Oliver's Brain ‘Melting In Full-Blown Panic'

(0) Comments | Posted January 28, 2015 | 12:57 PM

Like many people these days, Rick Mercer is confused about the state of the economy. But one thing he’s not confused about is why the Harper government is delaying its spring budget: Oil price panic.

“You know why there’s no budget? Because behind the dull eyes of the Finance Minister...

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'Sugar Daddies' The New Way To Cover Soaring Tuition Costs, Website Says

(48) Comments | Posted January 27, 2015 | 4:00 PM

With tuition costs soaring in Canada, many students are turning to a new (and some would say controversial) way of paying for school: Renting yourself out for paid dates.

SeekingArrangement.com, which brings together prospective “sugar babies” with deep-pocketed “sugar daddies,” says it has seen a 42-per-cent increase in...

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Coca-Cola Is Changing Its Canadian Recipe

(6) Comments | Posted January 27, 2015 | 3:59 PM

Coca-Cola is getting serious about Canadians’ calorie count.

The soft-drink maker is making the Canadian recipe “slightly less sweet,” which will make it “consistent with the great tasting Coca-Cola enjoyed around the world,” the company said in a statement.

(In other news: Coca-Cola has a Canadian recipe!)

But a...

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'Pay Off Debt' Searches Hit Record High As BoC Entices Canadians To Borrow More

(68) Comments | Posted January 27, 2015 | 8:43 AM

The Bank of Canada last week unexpectedly lowered its key lending rate, in the hope of stimulating an economy sucker-punched by falling oil prices. The idea, of course, is to make it easier to borrow.

The banks seem to be following suit quickly, with reports already coming in...

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RBC Lowers Mortgage Rates, Setting Stage For Another Rate War

(9) Comments | Posted January 26, 2015 | 4:39 PM

In the days after the Bank of Canada surprised everybody with a cut to the key lending rate last week, everyone was wondering whether mortgage rates would follow. Some said yes, some said no.

Well, it looks like a yes. The Royal Bank of Canada has...

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Home Prices To Fall In 8 Provinces Amid 'Sharp Widening' Of Canada's Economic Gap: TD Bank

(9) Comments | Posted January 26, 2015 | 12:42 PM

TD Bank sees house prices coming down in all but Canada’s two hottest markets this year, with falling oil prices taking an especially large bite out of the housing markets in energy producing regions.

Only Ontario and British Columbia — propelled by the seemingly perennially hot housing markets in Toronto...

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Tim Hortons Layoffs To Hit Many At HQ, Regional Offices: Report

(79) Comments | Posted January 26, 2015 | 9:02 AM

Tim Hortons is planning mass layoffs at its headquarters and regional offices following its tie-up with Burger King, the Financial Post reports, citing “sources familiar with the matter.”

The unconfirmed report suggests many departments’ staff could be reduced by half or more.

“We have a year-end celebration this...

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Cancelling Cable, Internet And Home Phone Service Just Got Easier

(16) Comments | Posted January 23, 2015 | 2:06 PM

Rejoice, cord-cutters and service-switchers: As of today, you are no longer required to give your telecom provider 30 days’ notice to cancel internet, cable or home phone services.

That’s thanks to a new rule from the CRTC that the telecom regulator announced last November. It comes into force...

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$80 Oil? $200 Oil? Insiders Talk Up Market With Dire Predictions Of Shortages

(65) Comments | Posted January 23, 2015 | 1:29 PM

With oil prices down 60 per cent since last summer, some industry insiders are trying to talk up the market by predicting wild price spikes to come, brought on by insufficient investment in oil production.

John Hofmeister, a former president of Royal Dutch Shell and head of the natural gas...

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Canadian Drilling Slowdown Threatens 23,000 Jobs; 'Companies Are Going To Die'

(13) Comments | Posted January 22, 2015 | 3:46 PM

Some 23,000 jobs related to Canada’s oil drilling industry could potentially disappear this year thanks to the oil price collapse, an industry group says.

The Canadian Association of Oilwell Drilling Contractors (CAODC) expects the number of active drilling rigs in service to drop by 41 per cent this year, as...

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Toronto, Vancouver Among Cities Seeing Falling Wages

(39) Comments | Posted January 22, 2015 | 12:59 PM

You’ve probably read stories about how Canada’s wage growth is nothing to write home about, but new research from the Broadbent Institute adds a surprising dimension to the story: No fewer than 15 of Canada’s 32 largest metro areas saw incomes slide during 2006-2012.

Economist Andrew Jackson, a...

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Ernie Eves, Ex-Ontario Premier, Cheers On Marijuana Legalization In Jamaica

(13) Comments | Posted January 21, 2015 | 5:15 PM

Jamaica is about to legalize marijuana, and Ernie Eves, a former Progressive Conservative premier of Ontario, is loudly cheering the move.

That’s because Eves — who led Ontario for a year, from 2002 to 2003, after the departure of Mike Harris — chairs Timeless Herbal Care, a Jamaican medical marijuana...

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Target CEO's Golden Handshake Pretty Much Matches The One For All 17,600 Canadian Employees

(214) Comments | Posted January 21, 2015 | 1:16 PM

An interesting talking point has seized the interwebs today: The amount of money Target has set aside to pay its Canadian staff is slightly less than the money it paid out to one former employee: Its CEO.

Gregg Steinhafel took a total of $61 million U.S. from Target when he...

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Canada's Most And Least Trusted Professions: Sorry, CEOs And Politicians

(3) Comments | Posted January 20, 2015 | 3:51 PM

CEOs have an image problem in Canada, where only about one in nine people feel they can be trusted. But that still gives chief executives a better public image than that of politicians, who are fighting it out with telemarketers for least-trusted profession, according to a new poll.

The

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Facebook Study Says It Created 82,000 Jobs In Canada, Worth $5 Billion To Economy

(4) Comments | Posted January 20, 2015 | 11:53 AM

If a new study from Deloitte is to be believed, Facebook is one of Canada’s largest indirect employers, responsible for creating 82,000 jobs in the country.

But some question whether the study is to be believed.

Titled “The global economic impact of Facebook” and commissioned by the very...

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Slowing Population Growth To Hit Canada Harder Than Most: Report

(12) Comments | Posted January 19, 2015 | 4:46 PM

The global economy grew at “unprecedented speed” over the past 50 years, but this “growth bonanza” is set to come to an end as population growth slows, says a new study.

And Canada is projected to see more pain as a result of this than just about any other country,...

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'Jesse Brown Snitches Get Stitches' Message Appears In Fridge Magnets At CBC

(27) Comments | Posted January 19, 2015 | 2:21 PM

Jesse Brown’s Canadaland podcast has given the CBC no end of grief over the past several months, helping to break open the Jian Ghomeshi scandal and embarrassing CBC hosts Peter Mansbridge and Amanda Lang over potential conflicts of interest in their speaking engagements.

Well...

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Why A Falling Loonie Won't Rescue Canada's Economy

(40) Comments | Posted January 16, 2015 | 1:40 PM

Until a few months ago, the complaint that Canada’s economy isn’t diverse enough, and is too reliant on energy exports, seemed to be a purely academic matter.

When economists warned, for example, that Canada is running an enormous deficit in non-energy trade (i.e. we just aren’t making and...

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'Please Be Kind To Target Employees'

(123) Comments | Posted January 16, 2015 | 9:21 AM

Shareholders in Loblaws and Dollarama are celebrating Target's abrupt departure from Canada, and market analysts are lauding the retailer for making the right strategic move, but there's one group who see nothing positive in all this: The 17,600 households that rely on a paycheque from Target...

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