NEWS

Canada inflation rate gallops to near 40-year high, calls for supersized rate hike mount

Canadian consumer prices increased in May at rates not seen since January 1983, surging past analyst forecasts, largely driven by pricey gasoline, official data showed on Wednesday, upping the pressure on the central bank to hike rates “more forcefully” Canada’s annual inflation rate accelerated to 7.7% in May, galloping past April’s 6.8% and analyst forecasts […]

Typical mortgage payment could be 30% higher in 5 years, Bank of Canada warns

High house prices and debt loads associated with them are a major vulnerability to Canada’s economy, the Bank of Canada said Thursday, warning buyers who bought during the pandemic that the impact of even slightly higher mortgage rates could be dramatic. In its Financial System Review, the central bank said that while the country’s financial system […]

Canada reports 77 confirmed cases of monkeypox

Canada now has 77 confirmed cases of monkeypox, according to figures supplied Friday by Canada’s chief public health officer and Santé Québec, the provincial health ministry. Of the cases identified so far through laboratory testing, 71 are from Quebec, five are from Ontario and one is from Alberta. The figure is more than 15 times […]

Doug Ford re-elected as Ontario premier with majority government,

Doug Ford has been re-elected as premier of Ontario with a majority government, Polls closed across the province at 9 p.m. on Thursday and shortly after CTV News declared the Progressive Conservative leader the winner of the 2022 election. At Toronto Congress Centre in Etobicoke, Ford celebrated his second mandate to wild applause and shouts […]

Dwindling photo radar funds could prompt tax hike to cover traffic safety and police shortfall

A forecasted $14.6 million drop in photo radar and other fines has the city considering different ways to maintain funding for Edmonton police and traffic safety initiatives. On Wednesday, the city’s executive committee proposed topping off the funding shortfall for the traffic safety automated enforcement reserve (TSAER) fund with a property tax increase between 2023-26. […]

Downtown business leaders seek more police, say safety is key to area revival

Downtown Edmonton business leaders are pleading for more police to be deployed in the city centre, saying a recent rash of violence is dissuading people and investment. The calls come after two men were beaten to death within hours of each other in the Chinatown district earlier this month, and also amid continued complaints about […]

19 students and 1 teacher killed in Texas elementary school shooting

An 18-year-old gunman opened fire Tuesday at a Texas elementary school, killing at least 19 children as he went from classroom to classroom, officials said, in the deadliest school shooting in nearly a decade and the latest gruesome moment for a country scarred by a string of massacres. The attacker was killed by law enforcement. […]

Monday storm update: 700 London Hydro customers without power as cleanup continues

About 700 London Hydro customers remained without power on Monday morning as crews continued to repair power lines damaged during Saturday’s powerful thunderstorm. As of 7:30 a.m. on Monday, there remained 77 individual outages across London Hydro’s system, most of them small. Power outages continue day after severe thunderstorm “There was a lot of destruction from […]

‘Please be patient’: Many thousands still without power after devastating Ottawa-area storm

Ottawa city officials are urging residents to stay patient as crews work to restore power to tens of thousands of homes following the violent storms that swept through Saturday afternoon. Some of Ottawa’s worst hit areas include Hunt Club, Merivale, Navan and Stittsville. With power likely out in some places for days, the city has opened nine emergency centres. They […]

Worry, buyer’s remorse high as real estate market slowdown materializes

A wave of buyer’s remorse is taking shape in several heated real estate markets, after housing prices started dropping and the number of sales slowed over the last two months. Realtors and lawyers in Toronto and Vancouver say they have noticed buyers looking at what options they have to get out of a purchase and […]