China summons Canadian ambassador over Huawei CFO’s arrest in Vancouver

China’s foreign ministry called on Canada to immediately release Huawei Technologies Co. Ltd.’s chief financial officer on Saturday, warning that otherwise it would face consequences. The ministry said in a statement that Vice Foreign Minister Le Yucheng had issued the warning to Canada’s ambassador in Beijing, summoning John McCallum to lodge a “strong protest.” Meng Wanzhou, Huawei’s global chief financial […]

Aphria names special committee to investigate allegations by short-sellers

Marijuana producer Aphria Inc., says its board of directors has appointed a special committee of independent directors to review the company’s acquisition of LATAM Holdings Inc., which has been criticized by short-sellers. The company says it remains confident in the deal, but in the face of what it called “inaccurate and misleading accusations” by the […]

‘This isn’t what we were promised’: Amid GM closures, Trump’s economic policies are coming home to roost

At one time, Donald Trump’s words sounded reassuring to Tommy Wolikow. Now more than a year later, they just torment him. “Don’t move, don’t sell your house,” the U.S. president urged a cheering crowd in Youngstown, Ohio, in July 2017, promising to resurrect the region’s dwindling manufacturing jobs. “They’re all coming back.” Wolikow, a 36-year-old father of […]

Want it tomorrow? Some online shopping habits are terrible for the environment

Have you ever picked two-day shipping because it’s free with an Amazon Prime membership? Or returned an item of clothing using the free return shipping label because you weren’t sure which size to buy, so you bought more than one? What you may not have realized is those convenient perks can drastically expand the carbon […]

Order to stop Keystone XL construction shows urgent need to get Canadian oil to new markets, energy group says

The latest legal setback for Calgary-based TransCanada’s $10-billion Keystone XL pipeline through the United States is yet another reminder that Canada needs to export its oil and natural gas to new global markets, says an industry association. A U.S. District Court judge in Montana put the project on hold in a ruling issued late Thursday, […]

Chinese electric cars are coming to Canada, but you can’t have one yet: Don Pittis

The Chinese are coming. After years of predictions that made-in-China electric-car technology was poised to dominate the global market, the country’s battery-powered cars will be driving on Canadian streets in a few months’ time. To anyone already shopping for an electric vehicle, it’s not a surprise that consumers can’t easily opt for one as their next family car. […]

CMHC forecasts housing starts and sales to decline over next two years

Canada Mortgage and Housing Corp. says the country’s real estate market is expected to moderate over the next two years as the growth in housing prices is expected to slow to more in line with economic fundamentals. In its 2018 housing market outlook released today, the national housing agency projects housing starts and sales are […]

Fragmented bus service market emerges as Greyhound exits Western Canada Oct. 31

A hodge-podge of public transportation services are already starting to fill the gap as Greyhound Canada moves steadily towards its midnight Halloween disappearance from most of Western Canada. The venerable national motor coach operator is being replaced by a mix of provincial government-subsidized services, Indigenous-owned bus lines, locally owned startups, flexible fleets of shuttle buses […]

Long-term loans: The fuel that’s powering Canadian car sales

This story is part of a series we’re calling Debt Nation looking at the state of consumer debt in Canada. Look for more coverage in the coming days, including on mortgages and credit card debt. Canadians are buying more cars than almost ever before, but a closer look reveals they’re taking longer and longer to pay […]

IMF cuts world economic growth forecasts for 2018 and 2019

The International Monetary Fund has cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows. The new forecasts, released Tuesday morning on the Indonesian resort island of Bali […]