Canada Post reports $1.3B operating loss in 2024
Overall, the Crown corporation has lost $3.8 billion since 2018. The news comes as a potential postal worker strike looms.
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Globe and Mail
30 minutes ago
- Globe and Mail
Trump raises tariffs on Canadian goods, BoC keeps rate steady and Telus' new network deal: Business and investing stories for the week of Aug. 3
Getting caught up on a week that got away? Here's your weekly digest of The Globe's most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more. U.S. President Donald Trump signed an executive order Thursday evening increasing tariffs on some Canadian goods. The order, effective at midnight on Aug. 1, raises the tariffs that Mr. Trump imposed on Canadian goods in March to 35 per cent from 25 per cent — it does not, however, apply to products that meet the rules outlined in the United States-Mexico-Canada free trade agreement, known as USMCA. Prime Minister Mark Carney, in a statement early Friday morning, said the Canadian government is disappointed by Mr. Trump's actions but remains committed to the free-trade agreement. The Prime Minister disputed Mr. Trump's justification for the 35-per-cent tariff – namely that Canada is a significant source of the deadly opioid fentanyl smuggled into the United States. While the Canadian economy has mostly avoided the impact of the tariffs because the USMCA carve-out, certain industries — such as steel and aluminium, cars, and copper — will be hit harder by the changes. The Bank of Canada held its policy interest rate at 2.75 per cent for the third consecutive time as U.S. trade policy continues to muddy the economic outlook. The central bank is operating amid massive levels of uncertainty created by U.S. President Donald Trump's barrage of tariffs and attempt to rewrite the rules of global trade. Governor Tiff Macklem said there was a 'clear consensus' to hold the rate steady, but suggested the door remained open to additional rate cuts if needed, Mark Rendell reports. The bank also held off again on publishing a central forecast in its quarterly Monetary Policy Report. Instead, it detailed three potential paths for the Canadian economy that depend on the trajectory of U.S. tariffs, ranging from a mild downturn to an extended recession. Even before Mr. Trump's tariff threads, the vibrancy of Canada's business sector was already weak, but the trade war has only deepened the rut. Statistics Canada reported this week that the number of active businesses was effectively flat in April on a month-over-month basis, increasing by just 0.1 per cent. Sectors that are dependent on U.S. demand, such as mining, oil and gas extraction, experienced a sharper decline in the number of active businesses from the start of last year than other sectors, and the gap has widened since Mr. Trump returned to the White House. Statscan noted this decline began before that, and suggested other factors could be at play. Jason Kirby takes a closer look at the numbers in this week's Decoder series. After a months-long search for buyers, Telus Corp. T-T has entered a definitive agreement with the Caisse de dépôt et placement du Québec to sell a minority stake in its nationwide cellphone tower network for $1.26-billion. The Caisse, Canada's second-largest pension fund, will acquire a 49.9-per-cent stake in the infrastructure asset, which is being spun out as a new company called Terrion. The business is worth $2.5-billion, including Telus's 50.1-per-cent equity interest. Telus had $25-billion in long-term debt as of March, and intends to use all proceeds from the sale to pay some of it down. Drumeo is the brainchild of Jared Falk, an Abbotsford-born music teacher, performer and entrepreneur who first started giving drum lessons by video in the pre-streaming era of the early 2000s. Now Mr. Falk's company – Musora Media Inc. – boasts more than 100,000 paid subscribers, with offerings for piano, vocals and guitar as well. Armed with a roster of drumming legends — including Chad Smith of the Red Hot Chili Peppers, Stewart Copeland of The Police, the internet sensation known as El Estepario Siberiano, and The Rolling Stones veteran session man Steve Jordan — Drumeo appears all over the internet with viral clips of musicians showing off their signature grooves and testing themselves on unfamiliar tunes. Jeffrey Jones spoke with Mr. Falk about how he built his music lesson empire, and how Drumeo sets itself apart from the competition. Get the rest of the questions from the weekly business and investing news quiz here, and prepare for the week ahead with The Globe's investing calendar.
CBC
30 minutes ago
- CBC
Trump fires U.S. Bureau of Labour Statistics head after weak jobs report
U.S. President Donald Trump fired Erika McEntarfer, commissioner of the Bureau of Labor Statistics, after a report showed hiring slowed in July and was much weaker in May and June than previously reported.
CTV News
an hour ago
- CTV News
A look at what you can buy for $723,000 in 8 Ottawa neighbourhoods
A four-bedroom home for sale on Caltra Crescent in Barrhaven. The home features a fully fenced backyard with a two-level deck. ( The Ottawa Real Estate Board reported an increase in the number of homes hitting the market in June, giving buyers more choice when shopping for a home. In June, the average price of a home sold in Ottawa was $723,152, up 5.2 per cent from June 2024. looks at what you can buy for $723,000 in eight Ottawa neighbourhoods. Listed for $719,000, this four-bedroom, two-and-a-half-bathroom town home is located on Caltra Crescent in Quinn's Pointe. Barrhaven A four-bedroom home for sale on Caltra Crescent in Barrhaven. The home features a fully fenced backyard with a two-level deck. ( 'Step inside to discover a thoughtfully designed layout featuring nine-foot ceilings, hardwood flooring, custom blinds and modern pot lighting throughout the main level, creating a bright and stylish living space,' says the listing on 'The gourmet kitchen is a true showstopper, boasting waterfall-edge quartz countertops, tall cabinetry with under-cabinet lighting, numerous convenient drawers for easy storage, and a sleek ceramic tile backsplash.' The home includes a finished basement and a fully fenced backyard with a two-level deck. Caltra Cresent A look at the kitchen of a home for sale on Caltra Crescent in Barrhaven. ( This single-family home listed for $719,900 features three bedrooms and two bathrooms. 'This charming property features three spacious bedrooms and two bathrooms. Enjoy the elegance of hardwood floors and a cozy main-floor family room with a wood-burning fireplace,' says the listing on 'The eat-in kitchen boasts a walk-in pantry for added convenience. An attached garage provides easy access, while the private backyard offers a serene retreat.' Parklane Court A look inside a home for sale on Parklane Court in Blackburn Hamlet. ( Parklane Court Three three-bedroom home on Parklane Court includes an attached garage and a private backyard. ( Listed at $723,500, this home near the Britannia Park and Beach has three bedrooms and two bathrooms. Britannia This home on Don Street in Britannia is on the market for $723,500. ( 'The expansive living space exudes warmth, offering a haven of comfort for you and your loved ones,' says the listing on 'Well-appointed kitchen gazes upon a captivating backyard, inviting tranquility and scenic views into your daily routine. The second floor offers a serene balcony span almost the entire front of the building, beckoning you to relish in moments of reprieve and cherish the natural surroundings.' Britannia 2 A look inside a home for sale on Don Street in Britannia. The kitchen looks out to the backyard. ( This home for sale in Findlay Creek features three bedrooms, three bathrooms and an attached garage. It's listed for $714,900. Trident Mews A look inside a home for sale on Trident Mews in Ottawa's Findlay Creek. ( 'The stunning living room features 15-foot ceilings and a wall of windows, flooding the space with natural light,' says the listing on 'Elegant panelling, a lime-washed linear gas fireplace (2025), and built-in surround sound speakers complete the space. The chef's kitchen includes an upgraded coffee bar with glass cabinetry, spice rack, double waterfall edge island, quartz countertops throughout, and premium appliances. Upstairs, enjoy upgraded carpet, second-level laundry, and a generous primary bedroom with an oversized glass shower in the ensuite.' There is also a finished basement with an electric fireplace, and a private backyard with an integrated gas fireplace. Trident Mews The backyard of a three-bedroom home for sale on Trident Mews in Findlay Creek. According to the backyard includes an integrated gas fireplace and PVC deck. ( This four-bedroom, four-bathroom home on Summergaze Street in Kanata is listed at $725,000. Kanata This home in Kanata is listed for $725,000. The home offers three plus one bedrooms, four bathrooms and a "layout perfect for modern family living." ( 'The spacious kitchen is a chef's dream, complete with a large pantry, ample counter space, and a bright eating area,' says the listing on 'Host formal dinners in the elegant dining room, then relax in the oversized great room, ideal for family time or entertaining. Upstairs, a versatile loft space offers endless possibilities a home office, playroom, or cozy retreat. The partially finished basement adds even more functionality, featuring a fourth bedroom and full bathroom, perfect for guests, in-laws, or teens, with room to customize the remaining space.' Kanata A look at the main floor of a home for sale on Summergaze Street in Kanata. ( Located in Ottawa's Lowertown neighbourhood and just steps from the ByWard Market, this three-bedroom, three-bathroom home is listed at $725,000. Lowertown A three-bedroom home on Guigues Avenue in Ottawa's Lowertown neighbourhood is for sale at $725,000. ( 'This charming property seamlessly blends historic character with modern comfort, offering high ceilings, thoughtful upgrades, and a private urban backyard retreat plus rare two-car parking,' says the listing on 'The main floor features a stylish living area with a custom built-in entertainment unit and pot lighting throughout, flowing into a bright, functional kitchen with stainless steel appliances, a gas stove, butcher block countertops, and a classic subway tile backsplash. Upstairs, original hardwood flooring adds warmth and authenticity.' The home features a second-floor laundry. Lowertown A look inside a home for sale in Ottawa's Lowertown neighbourhood. The listing on says the 'main floor features a stylish living area with a custom built-in entertainment unit and pot lighting throughout, flowing into a bright, functional kitchen with stainless steel appliances. ( This three-bedroom, two full-bathroom home in the Queenwood Heights neighbourhood of Orléans is on the market for $724,900. Gleneagles Avenue A three-bedroom, three-bathroom home on Gleneagles Avenue in Orléans is for sale at $724,900. ( The all-brick bungalow features a mature backyard, complete with a deck. 'The interior's open concept living allows for light to shine through, creating a bright and cozy space,' says the listing on Bennett Property Shop Realty. 'With a side door entry, this home is perfectly suited for intergenerational living or for those looking for rental income with a secondary dwelling unit. Need a workshop, studio, extra storage space, the oversized garage has you covered!' Taylor Bennett of Bennett Property Shop Realty told CTV Morning Live there is a 'lot of potential' in the property, including space for a suite and a large garage on the back end. Gleneagles Avenue A look inside one of the rooms in a home for sale in the Queenwood Heights neighbourhood of Orléans. ( This townhouse features three bedrooms, a den and three-and-a-half bathrooms and is listed for $719,900. Stittsville This three bedroom home on Hackney Private in Stittsville is listed for $719,800. ( According to the listing on the home has a fully finished basement, an open concept main floor with nine-foot ceilings, stainless steel appliances and a walk-in pantry. 'Upstairs, unwind in the large den next to the generous master suite with walk-in closet, double-vanity ensuite, soaker tub, and glass shower,' the listing says. 'Two additional bedrooms and a main bath. The fully finished basement includes a fourth bathroom ideal for guests, home office, or extra living space.'
