Latest news with #YahooFinanceCanada
Yahoo
4 days ago
- Business
- Yahoo
Gas prices fell again in Canada this week; Here's where the discounts are deepest
Gas prices fell 1.1 cents per litre of regular fuel on average in cities across Canada this week, according to data from Kalibrate. The average rate at the pumps is down about 13 per cent year-over-year. This week, Abbotsford, B.C. led the nation with the biggest drop, at 17.9 cents per litre. Victoria and Prince George, B.C. followed with weekly discounts of 11.6 cents and 8.8 cents, respectively. Meanwhile, resumed trade talks between U.S. President Donald Trump and Chinese leader Xi Jinping have helped put the price of oil (CL=F) on track for its first seven-day gain in three weeks. Back in Canada, CEOs and executives at oil and gas firms are loading up on company stock. A report from BMO Capital Markets found insiders purchased $54 million in shares in the 90 days since March 1. Analyst Jeremy McCrea says this is an undeniably bullish signal for investors. 'Although there are many reasons why insiders sell ... there is one reason they buy," he wrote. Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city. Location May 29 June 5 Price Change Canada Average (V) 143.8 142.7 -1.1 WHITEHORSE 161.9 161.9 0 VANCOUVER* 167 163.8 -3.2 VICTORIA 181.5 169.9 -11.6 PRINCE GEORGE 140.9 132.1 -8.8 KAMLOOPS 152.9 151.2 -1.7 KELOWNA 142.6 142.8 0.2 FORT ST. JOHN 145.4 139.4 -6 ABBOTSFORD 160.8 142.9 -17.9 YELLOWKNIFE 134.9 144.9 10 CALGARY* 131 131 0 RED DEER 134.5 131 -3.5 EDMONTON 130.7 129.6 -1.1 LETHBRIDGE 124.6 126 1.4 LLOYDMINSTER 133.5 128.6 -4.9 GRANDE PRAIRIE 137.9 129.5 -8.4 REGINA* 134.8 133.7 -1.1 SASKATOON 135.6 135.4 -0.2 PRINCE ALBERT 132.3 132 -0.3 MOOSE JAW 135.7 135.7 0 WINNIPEG * 131.7 130.9 -0.8 BRANDON 131.7 128.4 -3.3 CITY OF TORONTO* 135.4 135.2 -0.2 BRAMPTON 134.9 134.9 0 ETOBICOKE 134.9 134.4 -0.5 MISSISSAUGA 134.1 133.8 -0.3 NORTH YORK 135.5 135.4 -0.1 SCARBOROUGH 135 135.1 0.1 VAUGHAN/MARKHAM 135.1 135.3 0.2 OTTAWA 133.2 133.3 0.1 KINGSTON 128.8 122.5 -6.3 PETERBOROUGH 126.8 122.7 -4.1 WINDSOR 133.1 133 -0.1 LONDON 135.5 134.2 -1.3 SUDBURY 138.8 132.9 -5.9 SAULT STE MARIE 128.3 128.3 0 THUNDER BAY 138.3 132.6 -5.7 NORTH BAY 136.8 127.5 -9.3 TIMMINS 144.7 144.7 0 HAMILTON 131.8 131.5 -0.3 ST. CATHARINES 129.8 130.3 0.5 BARRIE 134.5 134.2 -0.3 BRANTFORD 128.4 129.1 0.7 GUELPH 134.8 134.7 -0.1 KITCHENER 133.6 133.4 -0.2 OSHAWA 134.4 134.9 0.5 SARNIA 124.4 124.8 0.4 MONTRÉAL* 159.3 157.8 -1.5 QUÉBEC 155.3 154.4 -0.9 SHERBROOKE 152.3 153.2 0.9 GASPÉ 157.4 157.4 0 CHICOUTIMI 145.5 143.5 -2 RIMOUSKI 151.4 151.4 0 TROIS RIVIÈRES 151.8 154 2.2 DRUMMONDVILLE 150.8 150.8 0 VAL D'OR 159.6 159.6 0 GATINEAU 143.2 141.6 -1.6 SAINT JOHN* 144.2 140.6 -3.6 FREDERICTON 145 141 -4 MONCTON 144.4 140.1 -4.3 BATHURST 142.3 141 -1.3 EDMUNDSTON 144 140.1 -3.9 MIRAMICHI 146.2 142.3 -3.9 CAMPBELLTON 146.3 137.5 -8.8 SUSSEX 143.7 140.9 -2.8 WOODSTOCK 146.2 142.3 -3.9 HALIFAX* 145 141.6 -3.4 SYDNEY 146.9 143.5 -3.4 YARMOUTH 146 142.6 -3.4 TRURO 146.1 142.7 -3.4 KENTVILLE 145.5 142.1 -3.4 NEW GLASGOW 146.1 142.7 -3.4 CHARLOTTETOWN* 150.8 147.3 -3.5 ST JOHNS* 153.5 149.9 -3.6 GANDER 157.3 152.2 -5.1 LABRADOR CITY 160 157.2 -2.8 CORNER BROOK 154.6 150.8 -3.8 GRAND FALLS 157.3 151.2 -6.1 SOURCE: KALIBRATE • All figures in CAD cents (*) Denotes markets used in Volume Weighted Canada Average Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. 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
Yahoo
29-05-2025
- Business
- Yahoo
Ski-Doo maker BRP books near 300% profit jump, boosts estimate for tariff hit up to $70M this year
Ski-Doo and Sea-Doo maker BRP ( shares rose to their highest level since March as the company reported a nearly 300 per cent year-over-year jump in profit. However, the Canadian powersports manufacturer also increased its estimated hit from U.S. tariffs to between $60 million and $70 million this fiscal year, while warning about challenging demand from consumers. Valcourt, Que.-based BRP reported that first-quarter profit hit $161 million, up from $42.5 million the prior year. Sales for the three months ended April 30 rose slightly on an annualized basis to $1.8 billion. 'The operating environment remains challenging, with significant macroeconomic uncertainty and a volatile tariff situation affecting consumer confidence,' chief executive officer José Boisjoli told analysts on a post-earnings conference call. BRP on Thursday morning announced Boisjoli will retire at the end of the year. 'As uncertainty is expected to continue affecting consumer confidence, we are planning for demand to remain tough until economic conditions improve,' he added. BRP manufactures products in Canada and Mexico. The company says all of its vehicles are compliant with the United States-Mexico-Canada Agreement, and are thus exempt from the bulk of American tariffs. 'However, we have seen incremental tariffs stemming from the U.S. tariff rate increase on China, the new tariffs on other countries; these are primarily impacting our [parts and accessories] business and some of our U.S. suppliers, which in turn is impacting us,' Boisjoli said. 'We now estimate that the total gross tariff impact to our business for fiscal 2026 to be between $60 million and $70 million,' he added. 'We expect this impact to be manageable, as we should be able to offset most of the incremental cost using different levers across our value chain.' In March, Boisjoli estimated a $40 million impact from tariffs throughout the year. Toronto-listed shares gained 9.79 per cent to $54.57 as at 10:23 a.m. ET on Thursday, after rising as much as 13 per cent in earlier trading. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. 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
Yahoo
29-05-2025
- Automotive
- Yahoo
Ottawa's halted $5,000 rebate won't sway most EV shoppers, says J.D. Power
Most Canadians shopping for an electric vehicle (EV) say the federal government's halt on rebates worth up to $5,000 has not put the brakes on their purchase plans, according to J.D. Power Canada. Ottawa announced an immediate pause on its zero-emission vehicle (ZEV) incentive program in mid-January. At the time, Transport Canada dubbed it a 'huge success,' having granted rebates for over half a million eligible vehicles since its launch in 2019. The following month, DesRosiers Automotive Consultants described an 'astonishing' collapse in battery electric vehicle sales, adding that 'stunning declines were witnessed by a plethora of BEVs, as sales plummeted across the segment.' The situation was compounded by shrinking rebates in Quebec, a top market for electric vehicle sales. According to Statistics Canada, ZEV sales tumbled 47 per cent year-over-year in March, after a 41 per cent drop in February. However, J.D. Power Canada says only 42 per cent of new vehicle shoppers likely considering an EV say Ottawa's rebate halt had a 'negative effect' on their decision. Twenty-eight per cent say the pause was 'more or less neutral' in terms of swaying their intentions. J.D. Power says it collected responses from 3,979 new vehicle shoppers in March and April. EV shoppers remain a slim segment of the overall market, notes J.D. Ney, director of the automotive practice at J.D. Power Canada. 'There is a significant percentage of the population (72 per cent) that are not even considering an EV, regardless of the incentive landscape,' he told Yahoo Finance Canada in an email. The federal government is targeting 100 per cent ZEV sales by 2035 for all new light-duty vehicles. J.D. Power Canada found the percentage of new vehicle shoppers who say they are 'very likely' or 'somewhat likely' to consider an EV for their next purchase has held steady at 28 per cent year-over-year, down a single percentage point from 2024. 'The disappearance of incentive dollars certainly won't make the targets more achievable,' Ney added. J.D. Power Canada notes 'widespread pessimism,' with 75 per cent of new vehicle shoppers responding to its study saying they are 'not at all confident' or 'not very confident' the target will be achieved. Earlier this month, the global head of electrification and sustainability for ride-hailing giant Uber Technologies (UBER) said the company is facing 'big challenges' in its push for drivers to embrace electric vehicles. Uber is targeting 100 per cent zero emissions rides in Canada, the United States and Europe by 2030. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. 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
Yahoo
27-05-2025
- Business
- Yahoo
More Canadians plan to carry mortgage debt into retirement: Royal LePage
More people are planning to enter retirement while still paying off a mortgage, a new report from Royal LePage says, with affordability and an evolution in when and how people retire among the factors. A survey conducted for the real estate company found that 29 per cent of the Canadians planning to retire this year or in 2026 will carry mortgage debt into their retirement. Separate data from Statistics Canada show that in 2016, only 14 per cent of senior families had mortgage debt; in 1999 that proportion was just eight per cent. 'In the era of rotary phones and station wagons, burning your mortgage was the economic finish line,' Phil Soper, president and CEO of Royal LePage said in a statement. 'Today's retiree reality is much more nuanced.' A factor in Canada's housing crisis is the concentration of single-family homes within the Baby Boomer cohort, Soper told Yahoo Finance Canada in an interview. 'We knew that eventually the tide would turn,' he said. 'People would just reach the age where they'd start to exit those family homes.' But, he added, the report shows that Boomers' exodus from property ownership 'has been much delayed compared to previous generations.' Boomers are subject to the same affordability challenges that define the current housing market in Canada, the report says, which have left many with significant mortgages. The report also notes several demographic trends — some related to affordability — that are likely also factors. This generation of retirees is entering retirement sort of kicking and screaming, saying, 'I won't go quietly into the night.'Phil Soper, president and CEO, Royal LePage The age of first-time home buyers has been creeping up, the report says, 'increasing the odds of future generations of retirees carrying a mortgage further into retirement.' In a 2023 report from Royal LePage looking at first-time homebuyers, it found 43 per cent were 35 years old or older — up from 33 per cent in 2021. The average retirement age has also risen fairly steadily: the age was 61.6 in 2000, according to Statistics Canada data, and 65.3 in 2024. Canadians today are also living 'about 50 per cent more years after turning 65' compared to their grandparents, the report says. 'People are working longer,' Soper said. 'People are staying active longer. The whole Zoomer thing didn't exist for Boomers' parents. They were just expected to retire and spend time with grandkids. … There's obviously exceptions but generally this generation of retirees is entering retirement sort of kicking and screaming, saying, 'I won't go quietly into the night.' "It's no surprise their attitudes toward home ownership have evolved with the times. With people buying their first homes later and working longer, it's increasingly common for Canadians to carry a mortgage well into retirement, often by choice rather than necessity.' In a survey of brokers and sales agents across Canada about the attitudes of people in the retirement window, Royal LePage found that 44 per cent saw an even split between people who planned to stay in their home and people who planned to downsize. 28 per cent said a majority were choosing to downsize and 21 per cent said a majority were choosing to stay put. Those preferences vary in different regions, and Soper said one factor was likely the particularly steep rise in home prices in greater Toronto and greater Vancouver. 'The amount of capital gains you could surface in our two largest cities really dwarfs what you see in other parts of the country,' he said. 'So I think we will see different trends in the GTA and the lower mainland of B.C. than for example what we might see in Halifax or Calgary.' Smaller Canadian cities may not have as many huge houses and may also have condo options that aren't as compact as many of those available in Toronto or Vancouver, Soper said, making a downsize move less 'dramatic' for someone retiring. Furthermore, someone in Montreal or Toronto contemplating a move into a larger condo may be deterred by the costs, Soper said. 'The price that is demanded for large condos in the city can be so high that once you include condominium fees, if you do the math over 10 or 20 years you're not saving any money by moving to a larger condo in our bigger cities.' John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jmacf. Download the Yahoo Finance app, available for Apple and Android.
Yahoo
21-05-2025
- Business
- Yahoo
Canadian home prices dropped further in April. They're still out of reach for many Canadians
Home prices in Canada fell more sharply in April, extending a months-long trend fuelled by ongoing trade war uncertainty, data from the National Bank of Canada show. The Teranet-National Bank House Price Index fell 1.5 per cent in April and has come down 2.4 per cent since December. In a note on the data, National Bank economist Daren King says the trend is likely to continue. 'In the context of ongoing economic uncertainty, moderate population growth and the risk that long-term interest rates will remain higher for longer than expected, home prices are likely to remain under pressure in the coming months,' King wrote. Since December, condo prices have come down 2.7 per cent, while other housing has dropped 2.1 per cent, the index says. The Teranet-National Bank House Price Index is calculated by looking at price changes on sales of the same properties over time. It can be expected to filter out variations that could appear in a measure of average prices due to 'the mix of property sold during that month,' King writes in an email to Yahoo Finance Canada. In spite of recent declines, there is wide agreement that housing remains unaffordable in most parts of Canada. Although the national average home price in April was well below highs hit during and after the pandemic, it remains 36 per cent higher than in April 2019. In a report published last week, Desjardins Group economists wrote that 'Canada's housing market remains deeply unaffordable in many regions.' They note that since 2000, 'the average selling price of a home in Canada has ballooned by more than four times, while the average household disposable income has only slightly more than doubled.' The National Bank data show that prices dropped in nine of 11 major urban areas in April from the previous month, with the steepest declines in Halifax (-4.9 per cent), Hamilton (-3.9 per cent) and Toronto (-2.7 per cent). Prices went up in Edmonton (up 1.0 per cent) and Calgary (up 0.8 per cent). On an annual basis, the index rose 0.2 per cent. The biggest annual price gains were recorded in Quebec City (up 13.4 per cent), Montreal (up 6.6 per cent) and Winnipeg (up 6.5 per cent), with drops in Vancouver (down 0.7 per cent), Hamilton (down 3 per cent) and Toronto (down 3.5 per cent). Housing market 'weakness' in Ontario 'remains significant,' King notes. Three-quarters of the markets tracked in the province have prices down 10 per cent or more from all-time highs. In the rest of Canada, only around one-quarter of markets are down 10 per cent or more. Furthermore, the report says 'challenges are intensifying in the province's three largest cities,' where the scale of decline in prices at least doubled from the previous month. In Toronto, the index shows prices dropped 1.3 per cent in March and 2.7 per cent in April; Hamilton prices fell 0.8 per cent in March and 3.9 per cent in April; and Ottawa-Gatineau prices slipped 0.5 per cent in March and one per cent in April. John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jmacf. Download the Yahoo Finance app, available for Apple and Android. 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
