Jesse Ferreras
GET UPDATES FROM Jesse Ferreras
 
Jesse Ferreras is associate news editor of trends and traffic for The Huffington Post Canada. He was previously an online editor at canada.com and the Pique Newsmagazine in Whistler.

Entries by Jesse Ferreras

Donald Trump's Keystone Profits Claims Are Full Of Crap, Oilsands Giants Suggest

(2) Comments | Posted May 30, 2016 | 6:57 PM

Add Canadian oil giants to the list of people who are calling bulls*** on U.S. presidential candidate Donald Trump.

The presumptive Republican nominee said last week he would approve TransCanada's Keystone XL pipeline so long as the U.S. government took a "share of the profits," The Hill reported.

...
Read Post

Tragically Hip Presale Ticket Sellouts Leave Fans Fuming

(0) Comments | Posted May 30, 2016 | 6:32 PM

Canadians hoping to catch what may be The Tragically Hip's final tour were left empty-handed and angry when tickets quickly sold out on Monday morning.

Presale tickets for the band's "Man Machine Poem Tour," announced last week after lead singer Gord Downie revealed his brain cancer diagnosis, were...

Read Post

Fox News Got Canada's Cost Of Living Hilariously Wrong

(0) Comments | Posted May 30, 2016 | 5:01 PM

Somewhere in the world, there may exist a country where it only costs US$4,470 to rent a house for a year.

Sadly, that country is not Canada — despite what Fox News will have you believe.

The U.S. network tweeted what it said was Canada's cost of living on Sunday...

Read Post

Canadian Condo Construction Subject To Red Alert From Royal Bank

(0) Comments | Posted May 30, 2016 | 11:37 AM

Royal Bank of Canada (RBC) has sounded a distress call about the state of Canadian condo building.

It might as well have looked like this.

The bank released its "Canadian Housing Health Check" for May on Friday.

It expressed deep concern about...

Read Post

Millennials Are Increasingly Living With Mom And Dad In The U.S., But They Don't Beat Canada

(62) Comments | Posted May 28, 2016 | 1:58 PM

The United States now has more young adults living with mom and dad than it did at any time since the Great Depression.

But that's still not as many as the young adults who live with their parents in Canada — proportionally speaking.

Data released by the Pew...

Read Post

The Loonie Is Going To Get Worse Before It Gets Better

(12) Comments | Posted May 27, 2016 | 4:39 PM

The loonie may have seen stronger growth than any other currency among G10 countries so far this year.

But the good times won't last, if a report by CIBC Economics is any indication.

The bank issued a forecast Friday showing that the loonie could drop to as low...

Read Post

Cheap Flights From Canada Show The Loonie Doesn't Have To Stop You From Travelling

(0) Comments | Posted May 26, 2016 | 11:30 AM

The slumping loonie is making it a little tougher for Canadians to travel outside the country this year.

A survey by Canadian bank Tangerine found that only nine per cent of Canadians plan to vacation in the United States this year, and only eight per cent plan...

Read Post

Panama Papers Reveal Canadian Victor Dahdaleh As Key Figure In International Bribery Scheme

(9) Comments | Posted May 25, 2016 | 10:40 AM

The Panama Papers have outed a Canadian billionaire and prominent university donor as a key figure in an international bribery scandal.

Victor Dahdaleh, a Jordan-born businessman who holds Canadian citizenship, is named in a 2007 email linking him to companies that helped facilitate a deal for mining giant Alcoa to...

Read Post

Canada's Most Expensive Homes Are Mostly In B.C. In Fact, Only 2 Are Not.

(7) Comments | Posted May 25, 2016 | 7:50 AM

Not only does Vancouver lay claim to the title of Canada's highest average home price, but the Vancouver area can also claim three-quarters of the homes among Canada's 12 most expensive properties.

Real estate firm Point2 Homes came up with a list of the Great White North's priciest...

Read Post

Straddling Bus That Cars Can Drive Under Will Be Tested In China This Year: Engineer

(9) Comments | Posted May 24, 2016 | 5:34 PM

What do you do when the roads are crowded with cars?

If you're China, you build buses that can just drive over them.

Beijing company Transit Explore Bus is preparing to test a track-based vehicle that's tall enough to let cars pass under, according to Xinhua, China's state news agency. Testing begins in July or August.

The planned bus is two traffic lanes wide, and tall enough to let cars drive beneath it, so long as they're under two metres tall. It would travel at up to 60 km/h and carry as many as 1,400 passengers.

The company showed off a model of the so-called "straddling bus" at the 19th International High-Tech Expo in Beijing over the weekend.

Engineer Song Youzhou has been working on such a vehicle for at least six years, according to The New York Times.

Back then, he pioneered a similar model with a company known as Shenzhen Huashi Future Parking Equipment, even releasing a video of the proposed vehicle.

That project was never realized. But Song has renewed enthusiasm for the new model, which he said would cost less than a subway, and help to lower air pollution.

"It has the same function as the subway, but it costs only 16 per cent of what a subway costs," he said, according to a translation of an interview conducted by Xinhua.

"Manufacturing and construction time are also much shorter than that for subway."

Futuristic though it is, the "straddling bus" also has its share of skeptics.

CityLab writer Linda Poon said such technology would have to drastically change Chinese opinion around car ownership and pollution if it's to have any meaningful impact on air quality.

Like Us On Facebook...

Read Post

Bellis Fair's 'At Par' Sales Anger Canadians, But Mall Says It Was Clear On Its Promises

(34) Comments | Posted May 24, 2016 | 3:48 PM

Canadian shoppers are piling on a U.S. mall, saying it misled them when it offered "at par" sales at certain retailers.

But the mall said it was always clear about which stores were participating.

bellis fair
Bellis Fair Mall in Bellingham, Wash. (Photo: Don Denton/CP)

...
Read Post

The Tragically Hip Taught Us About Being Canadian These 11 Times

(2) Comments | Posted May 24, 2016 | 9:48 AM

For over three decades, Gord Downie's voice has been a source of powerful reflection on Canadian history.

Songs such as "Locked in the Trunk of a Car" and "Wheat Kings" have reminded listeners of tragedies, injustice, and moments that have shaped Canada as a country.

And that voice will speak...

Read Post

Millennial Work Anxiety Driven By 'Ruthless Comparison.' This Is How We Can Stop It.

(25) Comments | Posted May 21, 2016 | 1:59 PM

Millennials face crushing challenges in today's economy.

Housing is more expensive. They're making less money. Fewer of them are finding jobs to begin with.

To make matters worse, they can't stop comparing themselves against their peers, says a recent study in the

Read Post

Canadian Dollar Means Canadian Travellers Will Likely Stay Home This Summer

(39) Comments | Posted May 20, 2016 | 4:06 PM

Canadians could find themselves chilling at the family cottage instead of basking in the bright lights of Las Vegas this summer, all thanks to the weak loonie.

A new survery from Tangerine said as many as 81 per cent of Canadians plan to spend the Victoria Day long...

Read Post

U.S. Airport Lineups Should Be Enough To Keep Canadians Away. If The Loonie Didn't Already.

(2) Comments | Posted May 19, 2016 | 9:01 AM

Canadians may want to rethink any trips they planned to the U.S. for May Long Weekend.

That is, unless they enjoy waiting in long lineups for hours at a time. And paying with a dollar that's worth less than it was last year.

The U.S. Transportation Security Administration (TSA) has...

Read Post

Saudi Arabia Plans IOUs For Contractors As Oil Takes A Toll On Its Revenue

(16) Comments | Posted May 18, 2016 | 5:29 PM

Saudi Arabia has been hit so hard by falling oil prices that this is how the kingdom plans to pay contractors.

That's right. IOUs. Just like on "The Simpsons." And in "Dumb and Dumber."

Saudi Arabia is considering them as it continues to grapple with low oil prices that have, in many ways, been of their own doing, Bloomberg reported Wednesday.

Low oil prices have made it more difficult for the kingdom to pay suppliers and contractors, as the resource makes up most of its revenue.

So instead, it's offering contractors payment in the form of "IOUs" that work like government bonds. Contractors could sell them to banks, or hold on to them until their value matures, the news agency said.

This all comes one month after Saudi Deputy Crown Prince Mohammed bin Salman threatened to flood the world with oil, thus tanking prices even further.

mohammed bin salman
Saudi Deputy Crown Prince Mohammed bin Salman on Oct. 13, 2015. (Photo: Kenzo Tribouillard/AFP via Getty Images)

Oil prices have fallen dramatically in the past two years thanks to a boom in production from alternative sources like shale oil, and thanks to an increase in Saudi production in an effort to gain market share over its competitors.

Countries that depend on oil, including OPEC members, have urged the Saudi to cut production, but the country has refused to do so unless other players such as Iran do the same.

Iran, meanwhile, doesn't want to lower its own production because it only recently got back into the oil-exports game after international sanctions were lifted in January.

aramco
Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in the surrounding Shaybah field in Saudi Arabia's remote Empty quarter desert close to the United Arab Emirates, on May 10, 2016. (Photo: Ian Timberlake/AFP via Getty Images)

The resulting lower prices have taken a toll on countries such as Venezuela, which depend on the resource.

But they have also hurt Saudi Arabia, whose credit rating was downgraded by Moody's in response to "lower growth, higher debt levels and smaller domestic and external buffers that leave the Kingdom less well positioned to weather future shocks," Business Insider reported.

The International Monetary Fund (IMF) estimates that the kingdom's debt could grow to 33.4 per cent of its GDP by 2020, according to Zero Hedge.

HSBC, meanwhile, has warned that the kingdom faces a "protracted cycle of stagnation and decay" if it can't implement economic reforms.

And it is skeptical of the Saudis' plan to wean themselves off the resource by selling off part of the Saudi state-owned oil company, and using the money to invest: "We can think of no example of an energy rich economy that has successfully reformed itself after decades of commodity dependence," HSBC said, as reported by Business Insider.

In other words, everyone is feeling the pain — including the people who helped to cause it in the first place.

Like Us On Facebook

Also on HuffPost:

...
Read Post

Wendel Clark's Cottage Airbnb Makes A Stunning (And Pricey) Muskoka Rental

(1) Comments | Posted May 18, 2016 | 3:30 PM

You can't always walk with legends. But one of the Toronto Maple Leafs' greatest is giving you a chance to sleep in his house.

Former Leafs captain Wendel Clark is renting out a stunning cottage property in Ontario's Muskoka region, a popular weekend getaway for Torontonians.

For $5,000...

Read Post

Foreign Chinese Buyers Are Grabbing U.S. Homes Faster Than Canadians Can Keep Up

(7) Comments | Posted May 18, 2016 | 8:53 AM

Prospective Canadian homebuyers say they're having a tough time keeping up with Chinese buyers within their own borders.

And now, it appears, they're finding it impossible to keep pace with them elsewhere.

new york condos
New York City, a major destination for foreign buyers snapping...

Read Post

Mark Cuban: Donald Trump Presidency Could Lead To YUUUGE Stock Trouble

(6) Comments | Posted May 17, 2016 | 6:35 PM

Celebrity investor Mark Cuban has a warning for America: the stock market could be in serious trouble if Donald Trump is elected president.

Cuban, star of ABC's "Shark Tank," said Monday that Trump's general unpredictability could make investors uneasy.

"That uncertainty potentially as the president of the United...

Read Post

Canada Real Estate Graph By Rentseeker Shows You CAN Afford A Home In Some Cities

(22) Comments | Posted May 17, 2016 | 3:16 PM

There really are a few Canadian cities where you'll be able to afford a home some day.

They're just not Toronto and Vancouver.

Rental listings website Rentseeker has produced a new, 3D-infused graph showing how much it costs to buy a home across the country — and how...

Read Post