Latest news with #SammyHudes
Yahoo
6 days ago
- Business
- Yahoo
Canadian telecom sector gathers for annual summit as report touts industry investment
TORONTO — A new report says sustained investment in telecommunications infrastructure is key to boosting Canada's economic growth after the sector contributed $87.3 billion in direct GDP last year. The study by PricewaterhouseCoopers, which was commissioned by the Canadian Telecommunications Association, says the sector supported 661,000 jobs across various industries in 2024. Its report was released Tuesday as industry leaders and government and regulatory officials gather for the 23rd annual Canadian Telecom Summit in downtown Toronto. As demand continues to grow for advanced connectivity, the report says Canadian telecom companies spent approximately $282 per capita on network development in 2024. But it outlines challenges providers face, including higher costs, declining revenue growth, heightened competition and a complex regulatory environment. Canadian Telecommunications Association president and CEO Robert Ghiz says it is crucial for all levels of government "to consider the impact of their regulations and policies on the sector's ability to invest for the future and meet economic needs. This report by The Canadian Press was first published June 3, 2025. Sammy Hudes, The Canadian Press
Yahoo
20-05-2025
- Business
- Yahoo
Grocery price increases outpace overall inflation for third straight month: StatCan
Despite the annual pace of inflation cooling last month, Statistics Canada says consumers continue to pay higher costs for groceries. The agency reports prices for food purchased from stores increased 3.8 per cent on a year-over-year basis, up from 3.2 per cent annual growth in March. It marks the third straight month that grocery price increases outpaced the overall inflation rate, which was 1.7 per cent in April. StatCan says items that contributed most to year-over-year price acceleration include fresh vegetables, for which prices rose 3.7 per cent, fresh or frozen beef at 16.2 per cent growth, and coffee and tea at 13.4 per cent. Some of Canada's large grocers have warned of price hikes due to added costs from U.S.-Canada tariffs, with Loblaw Cos. Ltd. chief executive Per Bank saying last week the number of tariff-hit products at the grocery store could soon spike as pre-tariff inventory runs out. Loblaw has been aggressive in marking products on display affected by tariffs, a tally that last week reached over 1,000 items, but Bank said the total will rise to more than 3,000 by next week and could peak at double that number within the next two months. This report by The Canadian Press was first published May 20, 2025. Companies in this story: (TSX:L) Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
