Loonie could jump up to 82 cents US if trade talks are successful, says economist

Even with a resilient, if not strong, Canadian economy, the loonie has failed to gain momentum this year — losing more than four per cent against the U.S. dollar — as trade uncertainty ate away at its “fundamental” value. But that could all change if a trade deal is struck between Canada and the U.S. soon, according to James […]

U.S. to impose anti-dumping duties of 24% plus on Canadian-made pipes

The United States says it will impose preliminary anti-dumping duties on large-diameter welded pipe from Canada and five other countries. The U.S. Department of Commerce said it will collect 24.38 per cent cash deposits on imports from Canada that were worth almost $180 million US in 2017. The other countries being hit with duties include […]

Canadian Tire shares slide as Q2 profit falls, revenue below analyst estimates

Canadian Tire Corp.’s second-quarter profit was down compared with last year and and its revenue growth came in below analyst estimates. In morning trading on the Toronto Stock Exchange, the Class A non-voting shares of Canadian Tire were down by 7.5 per cent to $168.74. The Toronto-based retailer and financial services company reports it had […]

Points thieves continue to target Aeroplan, PC Optimum as expert urges more security

Points thieves are on the prowl. Loyalty programs Aeroplan and PC Optimum have each recently been hit with multiple cases of points theft. Flights have even been booked using stolen Aeroplan miles. “I was blown away,” said Christina Rayburn, after discovering that someone had swiped most of the miles from her online Aeroplan account and taken […]

U.S. tariffs take effect, China warns of ‘counterattack’

The United States hiked tariffs on Chinese imports Friday and Beijing said it would be forced to counterattack in a dispute between the world’s two biggest economies that U.S. President Donald Trump says he is prepared to escalate. Washington increased tariffs at 12:01 a.m. ET on $34 billion US worth of Chinese imports, a first step […]

Ketchup wars: Heinz defends its image as tariffs kick in on U.S.-made condiment

Faced with a 10 per cent tariff on its ketchup and other goods, American food company, Kraft Heinz is opening a new front in Canada’s ketchup wars. Heinz took a public relations beating after moving its ketchup production to the U.S. in 2014, enabling Canadian-made French’s ketchup to steal the spotlight. Now the company, which merged with Kraft in […]

Freeland announcing compensation for metals sector as she unveils list of U.S. products to be hit with tariffs

The federal government will announce a compensation package for Canada’s steel and aluminum industries on Friday when Foreign Affairs Minister Chrystia Freeland releases the final list of U.S. products to be slapped with retaliatory tariffs starting Sunday. Freeland, accompanied by Innovation Minister Navdeep Bains and Employment Minister Patty Hajdu, will make the announcement in Hamilton — the […]