News
Budget watchdog forecasts deeper deficits than Ottawa projected in spring update
1+ hour, 52+ min ago (181+ words) Winnipeg 19" C, Sunny OTTAWA " The federal government's budget watchdog says Ottawa has less than a one per cent chance of maintaining the key fiscal anchor of shrinking the deficit as a share of the economy every year. Parliamentary Budget Officer…...
How high pandemic-period immigration papered over the cracks in Canada's economy
7+ hour, 59+ min ago (738+ words) Winnipeg 16" C, Clear OTTAWA " Prime Minister Mark Carney has said that lower immigration under his government helps to explain why Canada's economy has declined for the last two quarters, pushing it into recession territory. While Carney has not said the…...
Iran's inflation hits World War II levels, deepening economic pain
1+ day, 23+ hour ago (522+ words) Winnipeg 19" C, Partly cloudy A report Monday by Iran's Central Bank represents the first official acknowledgment of what Iranians shopping, paying for a taxi or visiting a medical clinic already know: The rial currency is battered by the war and…...
Trump is facing a new inflation warning from the bond market, adding to his midterm challenges
3+ day, 11+ hour ago (399+ words) WASHINGTON (AP) " The world is getting more uptight about lending money to President Donald Trump's government " causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November's…...
Trump claims he's making food more affordable but his examples ignore the big picture
5+ day, 21+ hour ago (549+ words) Winnipeg 32" C, Cloudy So where's the reality? The graphic shared by President Donald Trump may be correct about the specific items he listed. It's hard to know because he used data that isn't publicly available and he didn't specify what…...
Canada slips into technical recession as economy stalls in Q1: Stat Can
5+ day, 20+ hour ago (766+ words) Winnipeg 30" C, Cloudy OTTAWA " Statistics Canada says economic growth stalled in the first quarter, leading to a second consecutive decline in real gross domestic product. That meets some definitions for a technical recession, though not all economists weighing in on…...
Tomatoes become latest symbol of America's affordability squeeze
6+ day, 5+ hour ago (610+ words) Winnipeg 21" C, Sunny Prices for those red orbs have soared more than any other food product over the past year to cement a spot as one of the consumer headaches du jour. "The tomato has become a symbol of something…...
Bank of Canada sees financial system resilience despite global turbulence
6+ day, 23+ hour ago (496+ words) Winnipeg 28" C, Partly cloudy with wind OTTAWA " The Bank of Canada says the financial system has proven resilient after a turbulent year but officials at the central bank warn risks are mounting on the world stage. The bank released its…...
Key inflaton gauge worsens as Americans shell out more for gasoline
1+ week, 1+ hour ago (594+ words) Inflation jumped to 3. 8% in April compared with a year ago, the Commerce Department said Thursday, up from 3. 5% in March and the highest since May 2023. On a monthly basis, prices rose 0. 4%, down from the 0. 7% jump in March but still higher than…...
US jobless claims rise to 215, 000 but remain low despite Iran war uncertainty
1+ week, 3+ hour ago (210+ words) Winnipeg 19" C, Windy The Labor Department reported Thursday that jobless claims were up to 215, 000, up from 210, 000 the week before. The four-week moving average of claims, which smooths out week-to-week volatility, rose by nearly 6, 300 to 209, 000. The persistently low number of claims…...