economy

Bank buildings are photographed in Toronto’s financial district on June 27, 2018. As inflation tops eight per cent, anyone with money in the bank is seeing their savings drip away at the fastest rate on record because deposit interest rates, still largely languishing at around one per cent, haven’t kept up. THE CANADIAN PRESS/Tijana Martin

Canadians’ savings are slowly dripping away as deposit interest lags far behind inflation

“They will lose money. The value of their savings is decreasing.”

 

The Elkview SRF is right in the middle of Teck’s Elkview operations near Sparwood, B.C., which is fully operational. (Scott Tibballs / The Free Press)

Teck’s Elk Valley coal mines make bank in Q2

The company’s coal division accounted for $2.5 billion of Teck’s $3.2 billion in quarterly gross profits

 

A man pumps gas in Montreal, Friday, March 4, 2022. Statistics Canada will release consumer price index data for June on Wednesday, a week after the Bank of Canada raised its key interest rate by a full percentage point as it continues its battle against high inflation.THE CANADIAN PRESS/Graham Hughes

Economists predict inflation climbed even higher in June amid ‘reopening effect’

Statistics Canada set to release latest inflation data on July 20

 

Sumeru Chatterjee, who served as head of content and community for Vancouver-based education technology company Thinkific before he was laid off in April with about 100 others, poses for a photograph in Vancouver, on Wednesday, July 6, 2022. THE CANADIAN PRESS/Darryl Dyck

Canadian tech talent still in demand, despite layoffs and recession predictions

Some companies increasing benefits and modernizing offices to try and draw in sought-after talent

Sumeru Chatterjee, who served as head of content and community for Vancouver-based education technology company Thinkific before he was laid off in April with about 100 others, poses for a photograph in Vancouver, on Wednesday, July 6, 2022. THE CANADIAN PRESS/Darryl Dyck
The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. THE CANADIAN PRESS/Justin Tang

Economists expect Bank of Canada to hike key interest rate by 0.75% on Wednesday

Central bank aiming to bring soaring inflation back down to two per cent target

The Bank of Canada building is seen on Wellington Street in Ottawa, on Tuesday, May 31, 2022. THE CANADIAN PRESS/Justin Tang
People fuel up vehicles at a Shell gas station in Vancouver, on Saturday, May 14, 2022. GasBuddy’s head petroleum analyst says drivers should expect some relief at the pump heading into the end of July and start of August. THE CANADIAN PRESS/Darryl Dyck

VIDEO: B.C. gas prices expected to drop below $2/litre mark: analyst

Global prices dropping as economy slows, threatens recession

People fuel up vehicles at a Shell gas station in Vancouver, on Saturday, May 14, 2022. GasBuddy’s head petroleum analyst says drivers should expect some relief at the pump heading into the end of July and start of August. THE CANADIAN PRESS/Darryl Dyck
A shopper wipes down a handle as they select a cart at an Ikea furniture store in Ottawa, Tuesday, May 31, 2022. Canadian retailers are struggling with higher shipping costs as couriers tack hefty fuel surcharges onto shipping rates to recoup record gas prices. THE CANADIAN PRESS/Justin Tang
A shopper wipes down a handle as they select a cart at an Ikea furniture store in Ottawa, Tuesday, May 31, 2022. Canadian retailers are struggling with higher shipping costs as couriers tack hefty fuel surcharges onto shipping rates to recoup record gas prices. THE CANADIAN PRESS/Justin Tang
A man looks at an electronic stock board of a securities firm in Tokyo Friday, Aug. 5, 2016. (AP Photo/Koji Sasahara)

WEB POLL: Are we headed for a recession?

Or is it different this time?

  • Jun 17, 2022
A man looks at an electronic stock board of a securities firm in Tokyo Friday, Aug. 5, 2016. (AP Photo/Koji Sasahara)
Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)

Education urged for B.C. businesses in battling bogus bills

‘We have materials designed for everybody, and everything is absolutely free’

Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)
Have an opinion you’d like to share? Submit letters to the editor through our website, via email or the postal service. (Heather Colpitts/Black Press Media)

LETTER: Getting too costly to be Canadian

Frequent writer fears the country is sailing into a depression

  • Jun 9, 2022
Have an opinion you’d like to share? Submit letters to the editor through our website, via email or the postal service. (Heather Colpitts/Black Press Media)
Gas hit the listed price of $2.19.9 at one Vernon service station on 25th Avenue at 43rd Street Thursday, June 2. (Roger Knox/Morning Star).

Strategic support for B.C. residents needed as central bank works on inflation: experts

Economist says to expect food prices to stay high for another year

Gas hit the listed price of $2.19.9 at one Vernon service station on 25th Avenue at 43rd Street Thursday, June 2. (Roger Knox/Morning Star).
Milk and dairy products are displayed for sale at a grocery store in Aylmer, Que., on Thursday, May 26, 2022. Dairy Farmers of Canada has asked the Canadian Dairy Commission for a mid-year milk price hike due to the current inflationary environment. THE CANADIAN PRESS/Sean Kilpatrick

Canadian dairy farmers seek second milk price hike this year, citing rising costs

Dairy commission says it will issue its decision around June 17

Milk and dairy products are displayed for sale at a grocery store in Aylmer, Que., on Thursday, May 26, 2022. Dairy Farmers of Canada has asked the Canadian Dairy Commission for a mid-year milk price hike due to the current inflationary environment. THE CANADIAN PRESS/Sean Kilpatrick
Heavy equipment is shown at the Cheetah Resources Nechalacho Project near Yellowknife, Northwest Territories in an undated handout image. The country’s first rare earth mine has started delivering concentrated ore. THE CANADIAN PRESS/ BILLBRADENPHOTO / HO-CHEETAH RESOURCES

First Canadian rare earth mine starts shipping concentrate from N.W.T.

Minerals critical for computers, wind turbines and electric cars

Heavy equipment is shown at the Cheetah Resources Nechalacho Project near Yellowknife, Northwest Territories in an undated handout image. The country’s first rare earth mine has started delivering concentrated ore. THE CANADIAN PRESS/ BILLBRADENPHOTO / HO-CHEETAH RESOURCES
B.C. announced a new Mass Timber Action Plan April 7, with an initial invesment of $1.2 million into four structures. (Black Press Media file photo)

B.C. investing in future of mass timber with 4 new structures, long-term action plan

Province looks to be leading producer in carbon-capturing material

B.C. announced a new Mass Timber Action Plan April 7, with an initial invesment of $1.2 million into four structures. (Black Press Media file photo)
Shipping containers are shown at the Port of Montreal, Sunday, April 25, 2021.Statistics Canada says the country’s merchandise trade surplus narrowed in February as imports rose at a faster pace than exports. THE CANADIAN PRESS/Graham Hughes

Canada posted smaller merchandise trade surplus in February, StatCan reports

By country, imports from China had the strongest growth by far, up 26.9 per cent

Shipping containers are shown at the Port of Montreal, Sunday, April 25, 2021.Statistics Canada says the country’s merchandise trade surplus narrowed in February as imports rose at a faster pace than exports. THE CANADIAN PRESS/Graham Hughes
Temporary foreign workers from Mexico plant strawberries on a farm in Mirabel, Que., on May 6, 2020, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes

Facing labour shortages, Liberals loosen rules on foreign workers ahead of budget

Changes announced Monday will allow employers to hire foreign workers for more low-wage jobs

Temporary foreign workers from Mexico plant strawberries on a farm in Mirabel, Que., on May 6, 2020, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
Auto worker Angely Labo works in the body shop producing the Chevrolet Silverado, at the GM Assembly plant in Oshawa, Ont. A new report co-authored by the UVic-based Pacific Institute for Climate Solutions found Canada has a narrow window to insert itself as a leader in making larger electric vehicles. (THE CANADIAN PRESS/Chris Young)

UVic institute report finds Canada must act now to prosper in net-zero marketplace

Coordinated effort needed as country risks losing opportunities to trading partners

Auto worker Angely Labo works in the body shop producing the Chevrolet Silverado, at the GM Assembly plant in Oshawa, Ont. A new report co-authored by the UVic-based Pacific Institute for Climate Solutions found Canada has a narrow window to insert itself as a leader in making larger electric vehicles. (THE CANADIAN PRESS/Chris Young)
A Canadian Pacific locomotive. (File photo: THE CANADIAN PRESS/Jeff McIntosh)

Surrey Board of Trade ask feds to declare rail essential service as CP strike halts

‘Surrey’s agricultural exports are a critical piece of food security for all of Canada,’ board CEO Anita Huberman says

A Canadian Pacific locomotive. (File photo: THE CANADIAN PRESS/Jeff McIntosh)
FILE - Farmers harvest with their combines in a wheat field near the village Tbilisskaya, Russia, July 21, 2021. The Organization for Economic Cooperation and Development is warning that Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe. In a grim assessment out Thursday, March 17, 2022, the 38-country OECD said that over the next year the conflict would reduce the broadest measure of economic output by 1.08% worldwide. (AP Photo/Vitaly Timkiv, File)

War in Ukraine will take global economic toll, group warns

OECD: conflict to reduce gross domestic product by 1.08% worldwide, 1.4% in the 19 Euro countries

FILE - Farmers harvest with their combines in a wheat field near the village Tbilisskaya, Russia, July 21, 2021. The Organization for Economic Cooperation and Development is warning that Russia’s war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe. In a grim assessment out Thursday, March 17, 2022, the 38-country OECD said that over the next year the conflict would reduce the broadest measure of economic output by 1.08% worldwide. (AP Photo/Vitaly Timkiv, File)
Ravi Kahlon, minister of jobs, economic recovery and innovation, was in Langley Tuesday, March 15, for as round of meetings about the provincial Stronger BC Economic Plan. (Dan Ferguson/Langley Advance Times)

Minister of Jobs, Economic Recovery and Innovation sits down with Langley business leaders

Ravi Kahlon looking for in-person feedback on provincial economic plan

Ravi Kahlon, minister of jobs, economic recovery and innovation, was in Langley Tuesday, March 15, for as round of meetings about the provincial Stronger BC Economic Plan. (Dan Ferguson/Langley Advance Times)