Business

Bank of Canada Governor Tiff Macklem takes part in a news conference at the Bank of Canada in Ottawa on December 15, 2020. Canada’s central bank will update its economic forecast for the country that will offer a window when it expects a recovery from the COVID-19 pandemic to take hold. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada keeps key interest rate target on hold at 0.25%

The central bank is citing the economic conditions and ongoing uncertainty

Charles Rochfort, left, and Jonathan Grenier work on a home as Quebec lifts the ban on residential construction due to the COVID-19 pandemic Monday April 20, 2020 in Deux-Montagnes, Que. THE CANADIAN PRESS/Ryan Remiorz

Annual pace of housing starts down in December: Canada Mortgage and Housing Corp

Rural starts were estimated at a seasonally adjusted annual rate of 22,373 units

People wait in line to enter a Costco store in Toronto on Monday, April 13, 2020. Canadians who weren’t happy with some of their holiday gifts or who changed their mind after making purchases might face trouble when trying to get their money back. THE CANADIAN PRESS/Nathan Denette

Ask about COVID-19 return policies as you shop to avoid disappointment later: experts

Canada has no laws requiring retailers to accept returns, but provinces have some rules

The Air Canada logo is seen on a hangar at Vancouver International Airport, in Richmond, B.C., on Friday, March 20, 2020. Air Canada has advised airports in Atlantic Canada that it will suspend more routes in the region until further notice. THE CANADIAN PRESS/Darryl Dyck

Air Canada cuts 1,700 more jobs, slashes capacity

Its first quarter 2021 capacity will be 20 per cent of what it had in 2019

The Air Canada logo is seen on a hangar at Vancouver International Airport, in Richmond, B.C., on Friday, March 20, 2020. Air Canada has advised airports in Atlantic Canada that it will suspend more routes in the region until further notice. THE CANADIAN PRESS/Darryl Dyck
(AP Photo/Richard Drew, File)

Starbucks says closure of up to 300 stores in Canada to be completed by end of March

Starbucks says the changes will help the coffee chain ‘best meet our customers where they are now’

(AP Photo/Richard Drew, File)
(Image: Facebook)

Maskwacis apparel entrepreneurs share brand stories

By Chevi Rabbit For Ponoka News Maskwacis has seen a number of…

  • Jan 12, 2021
(Image: Facebook)
(Olivia Vanni / The Herald)

PART I: Businesses impacted by shutdowns

Local restaurant owner: ‘This is so bad for us’

(Olivia Vanni / The Herald)
The Bank of Canada building is seen in Ottawa, Wednesday, April 15, 2020. THE CANADIAN PRESS/Adrian Wyld

Pandemic job concerns could pose problem in long-term, Bank of Canada says

Lockdowns in the spring of 2020 led to a historic drop in employment with about three million jobs lost

The Bank of Canada building is seen in Ottawa, Wednesday, April 15, 2020. THE CANADIAN PRESS/Adrian Wyld
Royal Bank president David McKay speaks at the banks annual meeting in Toronto on April 6, 2017. McKay says it’ll take a few million people in the country getting vaccinating to get the country on track for an economic rebound. THE CANADIAN PRESS/Frank Gunn

At least 4 million Canadians need vaccines for country to look at reopening economy: RBC

McKay says government relief will have to continue and become focused on areas of the economy

Royal Bank president David McKay speaks at the banks annual meeting in Toronto on April 6, 2017. McKay says it’ll take a few million people in the country getting vaccinating to get the country on track for an economic rebound. THE CANADIAN PRESS/Frank Gunn
Kiki Lally is seen in an undated handout photo at Pinnovate, a craft studio in Calgary. When the pandemic began, Lally couldn’t host birthday parties, camps or bridal showers anymore, so she started making DIY kits and offering them for delivery. The DIY kits had to be sold through a new website called DIY Delivery that she built. THE CANADIAN PRESS/HO-Jennifer Chabot, *MANDATORY CREDIT*

‘Not as easy as it looks’: Small businesses share what it takes to move online

Shipping, fitting all made complicated by COVID

Kiki Lally is seen in an undated handout photo at Pinnovate, a craft studio in Calgary. When the pandemic began, Lally couldn’t host birthday parties, camps or bridal showers anymore, so she started making DIY kits and offering them for delivery. The DIY kits had to be sold through a new website called DIY Delivery that she built. THE CANADIAN PRESS/HO-Jennifer Chabot, *MANDATORY CREDIT*
A WestJet flight from Calgary arrives at Halifax Stanfield International Airport in Enfield, N.S. on Monday, July 6, 2020. THE CANADIAN PRESS/Andrew Vaughan

WestJet puts 1,000 workers on leave, citing government’s ‘Incoherent’ policy

International capacity will be down 93 per cent year over year and only five daily flights will be offered

A WestJet flight from Calgary arrives at Halifax Stanfield International Airport in Enfield, N.S. on Monday, July 6, 2020. THE CANADIAN PRESS/Andrew Vaughan
A worker smooths concrete at a construction site in Toronto, Thursday, Jan. 16, 2020. Statistics Canada is expected to release its snapshot of the Canadian job market for December this morning. THE CANADIAN PRESS/Cole Burston

Canadian economy lost 63,000 jobs in Dec., first decline since April

Statistics Canada said Friday the economy lost 63,000 jobs in December while the unemployment rate edged up to 8.6%

A worker smooths concrete at a construction site in Toronto, Thursday, Jan. 16, 2020. Statistics Canada is expected to release its snapshot of the Canadian job market for December this morning. THE CANADIAN PRESS/Cole Burston
Credit cards are seen in Montreal on December 12, 2012. Industry groups say small businesses are being hammered by high credit card fees on online purchases as the shift toward e-commerce continues amid the second wave of the COVID-19 pandemic. THE CANADIAN PRESS/Ryan Remiorz

Small businesses feeling the pinch of credit-card fees as e-commerce ramps up

The rise in e-commerce sales ‘inevitably squeezes out cash’ from vendors

Credit cards are seen in Montreal on December 12, 2012. Industry groups say small businesses are being hammered by high credit card fees on online purchases as the shift toward e-commerce continues amid the second wave of the COVID-19 pandemic. THE CANADIAN PRESS/Ryan Remiorz
Credit cards are seen in Montreal on December 12, 2012. Industry groups say small businesses are being hammered by high credit card fees on online purchases as the shift toward e-commerce continues amid the second wave of the COVID-19 pandemic. THE CANADIAN PRESS/Ryan Remiorz

Small businesses feeling the pinch of credit-card fees as e-commerce ramps up

CFIB and retail council are calling on the federal government to negotiate lower fees from credit-card firms

Credit cards are seen in Montreal on December 12, 2012. Industry groups say small businesses are being hammered by high credit card fees on online purchases as the shift toward e-commerce continues amid the second wave of the COVID-19 pandemic. THE CANADIAN PRESS/Ryan Remiorz
Vehicles are seen in a parking lot at the General Motors Oshawa Assembly Plant in Oshawa, Ont., on June 20, 2018. THE CANADIAN PRESS/ Tijana Martin

Canadian auto sales fell 19.7% in 2020 from a year earlier; lowest level in a decade

The consultancy says auto sales fell 2.6 per cent in December 2020 from the same month in 2019

Vehicles are seen in a parking lot at the General Motors Oshawa Assembly Plant in Oshawa, Ont., on June 20, 2018. THE CANADIAN PRESS/ Tijana Martin
Aerial views of housing in Calgary on June, 22, 2013. THE CANADIAN PRESS/Jonathan Hayward

Calgary sees highest December home sales since 2007 amid 40% buying surge

Sales of homes in Airdrie, Alta., just north of Calgary, were at a record high for December

Aerial views of housing in Calgary on June, 22, 2013. THE CANADIAN PRESS/Jonathan Hayward
Office towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan

Top CEO pay in 2019 fell, but still more than 200 times average workers: CCPA report

The average individual income in Canada for 2019 was $53,482, up from $52,061 in 2018

Office towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. A new report by the Canadian Centre for Policy Alternatives says the average amount paid to the country’s top chief executives in 2019 was down from 2018, but was still more than 200 times the average worker compensation.THE CANADIAN PRESS/Adrien Veczan
A dealer slides chips across the blackjack table on Friday, March 16, 2012, in Bangor, Maine. THE CANADIAN PRESS/AP-Robert F. Bukaty

Court approves Great Canadian Gaming merger

Supreme Court of British Columbia has signed off on the investment

A dealer slides chips across the blackjack table on Friday, March 16, 2012, in Bangor, Maine. THE CANADIAN PRESS/AP-Robert F. Bukaty
Information regarding the Canada Pension Plan is displayed of the service Canada website in Ottawa on Tuesday, January 31, 2012. THE CANADIAN PRESS/Sean Kilpatrick

Planned increase in CPP premiums on Jan. 1 to hit some workers more due to pandemic

Planned increase on Jan. 1 is part of a multi-year plan approved by provinces and the federal government

Information regarding the Canada Pension Plan is displayed of the service Canada website in Ottawa on Tuesday, January 31, 2012. THE CANADIAN PRESS/Sean Kilpatrick
A worker smooths concrete at a residential housing construction site in Toronto, Thursday, Jan. 16, 2020. Consultants at BTY say construction activity could pick up next year in many provinces, amid anticipated spending on infrastructure and renewable energy.THE CANADIAN PRESS/Cole Burston

Construction spending could rebound next year amid government support, report says

Government stimulus spending could help the construction industry find its footing next year

A worker smooths concrete at a residential housing construction site in Toronto, Thursday, Jan. 16, 2020. Consultants at BTY say construction activity could pick up next year in many provinces, amid anticipated spending on infrastructure and renewable energy.THE CANADIAN PRESS/Cole Burston