Alberta outlook improves but budget deficit $21.3B: finance minister
Province’s economy hit by COVID-19 pandemic, the drop in oil prices and a global economic contraction.
Budget update won’t have fiscal anchor until after crisis: PM
It will provide some guidelines for ongoing spending to help the economy.
Watchdog to monitor how CRA handles COVID stressed taxpayers
Agency shifts back to tax-collection mode after months of focusing on doling out emergency aid.
World Bank approves $12B to finance virus vaccines, care
Part of a package of up to $160 billion to help developing countries fight the COVID-19 pandemic.
Fitch Ratings issues new warning over federal spending, debt
Downgraded Canada’s triple-A credit rating in June to AA+ over the deterioration of public finances due to COVID-19.
As Freeland takes finance job, crisis will dictate spending plans: experts
Talks about going green, equitable and inclusive growth; suggests the Liberals plan to double down on their existing approach.
Cabinet glass ceiling shattered as Freeland named finance minister
Solid reputation both inside and outside of cabinet, first in international trade, then foreign affairs.
Morneau leaves cabinet, federal politics, as suddenly as he arrived
First rookie MP in nearly a century to step into the high-profile and demanding role of finance minister.
Morneau resigns finance post and seat, plans to run for head of OECD
Exit comes amid WE charity controversy and investigation by the federal ethics watchdog.
BDC records $218M net loss for 2020 fiscal, remains confident
Higher net fair value depreciation on capital investments due to uncertainty and volatility.
Canada’s five big banks join anti-hate advertising boycott of Facebook [UPDATED]
Scotiabank, RBC, CIBC, BMO and TD have pledged to stop purchasing ads on the site for the month.
Feds to consider non-traditional data as pandemic aid reworked: Morneau
Finance minister is working on changes to federal programs now estimated to cost about $153.7 billion.
Capital gains tax hike would cripple investment in Canada
Increasing the federal tax would be anti-investment, anti-entrepreneurship, anti-innovation and anti-green.
Bank of Canada’s independence key to aiding post COVID recovery: Wilkins
Actions aimed at ensuring businesses and individuals can access lines of credit and short-term loans.
Recurring federal deficits could be risky for future generations: study
Federal debt should reach $713 billion at the end of the current fiscal year and grow to $810 billion by 2024-2025.
Environment, protecting economy key focus to 2020 budget: Morneau
Health care and safety issues, such as gun control, are also spending plan themes.
Outspoken former federal cabinet minister John Crosbie dead at 88
Best known as an outspoken fisheries minister under Prime Minister Brian Mulroney.
Canadian SMEs remain nimble in the face of change
Sponsored Content provided by PLANT partners: American Express SME…
Alberta to reduce spending 3%, but no cuts to health, education
Aims to balance the books in four years and reorient Alberta’s economy long after that.
Norwegian fund cuts four Canadian oil sands firms
Has reduced its tolerance threshold for companies with interests in the oil sands from 30% to 5%.
Premier Kenney says results of panel on Alberta finances coming in September
Kenney says he expects the panel will report that Alberta’s economy is spiralling down.
Bank of Canada to take over key interest rate benchmark for financial markets
The central bank says it will take over the administration of the Canadian Overnight Repo Rate Average, from financial markets data firm next year.
Poloz says stimulative rates needed for temporary soft patch
The central bank left its interest rate unchanged last month.
Sony quarterly profit rises on games, financial services
In recent quarters, Sony’s PlayStation 4 video game operations, especially software sales, have been doing well.
DavidsTea says unhappy shareholders have withdrawn lawsuit against co-founder
The lawsuit filed in July sought to have Herschel Segal removed as executive chairman.
Maker of James Bond’s favourite sports car eyes stock market
Aston Martin could release details of potential IPO in September.
Finance ministers to press Morneau about opting out of controversial tax change
Critics warn it will unfairly pile on significant costs for small business owners.
Bank of Canada keeps key interest rate target on hold at 1.25%
Next scheduled rate decision set for July 11.
Bank breaches highlight rise of cyber threats as new exploitation strategies emerge
BMO and CIBC-owned Simplii were apparently targeted.
Don’t blame Ottawa for Ontario’s financial mess
Liberal government’s policies kill investment and jobs, fuel massive deficits.
Borrowing? Don’t overlook the lien
Doing so may trip up future attempts to borrow