Huawei to grow Canadian R&D budget to make equipment more secure: president

The president of Huawei Canada says it will be getting a piece of the $2 billion US that its global Chinese parent will spend over five years to hire more software engineers to make its equipment more secure, resilient and efficient. Huawei Canada president Eric Li said in a statement that its “top priority” has […]

Canadians weighed down by lines of credit they don’t understand

Over the past 15 years, home equity lines of credit have emerged as the driver of mounting non-mortgage debt in Canada — yet many Canadians don’t understand what they’ve signed up for and are not moving to pay them off, a new survey suggests. The more than three million Canadians holding a HELOC owed an […]

No matter the politics, Trump’s wall could provide jobs, stimulus if recession strikes: Don Pittis

If a U.S. recession is around the corner, the construction of President’s Donald Trump’s wall on the Mexican border could be an economic godsend. Last week, the world’s most powerful central banker, U.S. Fed Chair Jerome Powell, assured us that economic growth would continue in 2019. Bank of Canada governor Stephen Poloz has been similarly optimistic. But the […]

BlackBerry unveils secure smart-city service as CEO opens up about big tech

BlackBerry Inc. is making a play to integrate itself into smart cities and vehicles. The Waterloo, Ont.-based technology company announced Monday that it has built a new service to provide infrastructure for vehicles and traffic lights to exchange information securely. BlackBerry will waive the service fees for the product for automakers and public offices involved in smart city and connected vehicle […]

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 […]

Qatar to leave OPEC and set own oil and gas output

The tiny, energy-rich Arab nation of Qatar announced on Monday it will withdraw from OPEC in January, meeting its aspirations to increase production outside of the cartel’s constraints and slighting the Saudis who are currently boycotting Doha.  The surprise announcement from Qatar’s minister of state for energy affairs, Saad Sherida al-Kaabi, again throws into question […]

Mortgage stress test rules may be pushing borrowers towards unregulated lenders

The Bank of Canada released data this week that shows stricter mortgage rules along with higher interest rates have helped slow the growth of risky mortgages, but some economists question whether over-leveraged borrowers are simply turning to the unregulated mortgage market. The central bank’s analysis said tougher mortgage qualification tests have helped to drastically cut the […]

Annual pace of housing starts picked up in October, topped expectations

An increase in multi-unit projects such as condominiums, apartments and townhouses helped push the annual pace of housing starts in October higher, Canada Mortgage and Housing Corp. said Thursday. The housing agency said the seasonally adjusted annual rate of housing starts last month came in at 205,925 units, up from 189,730 in September. Economists had […]