2018 record year for Canada’s tourism industry

Tourism generates 745,300 jobs across the country and creates an estimated $102.5 billion in income

2018 record year for Canada’s tourism industryTourism in Canada had its second consecutive record-breaking year in 2018 with 21.13 million travellers to Canada, according to a report released on Thursday by Destination Canada. The organization said tourism generates 745,300 jobs in communities across Canada and contributes an estimated $102.5 billion to the economy. “The results released today once again demonstrate that…

Women more likely to put careers on hold to care for loved ones

CIBC study says 30% of women have reduced or stopped saving as a direct result of care responsibilities

Women more likely to put careers on hold to care for loved onesA new study by CIBC says 69 per cent Canadian women make significant financial sacrifices, including putting their careers on hold to care for loved ones, which can put them at a considerable disadvantage to men when it comes to saving for their retirement. The study also found that 30 per cent of women say they've…

Startup leaders optimistic about business conditions improving

They are in growth mode but face challenges in finding enough skilled talent and raising capital: survey

Startup leaders optimistic about business conditions improvingFifty-six per cent of Canadian startup leaders expect business conditions to improve in 2019. But they note challenges in raising capital and hiring talent with the skills needed to grow their businesses, says a report released on Wednesday by Silicon Valley Bank . The inaugural Canada Startup Outlook reports that 31 per cent of respondents to…

Record Canadian use of Interac e-Transfers in 2018

More than 371 million transactions worth a total of more than $132 billion

Record Canadian use of Interac e-Transfers in 2018Canadians used digital money transfer service Interac e-Transfer more than one million times per day last year. In a news release on Tuesday, Interac said it experienced record numbers in 2018 – more than 371 million transactions worth a total of more than $132 billion, representing a 54 per cent increase in volume and a…

Petro-Canada launching electric vehicle charging stations

Construction on more than 50 stations in coast-to-coast fast-charging network to begin this spring

Petro-Canada launching electric vehicle charging stationsA network of electric vehicle fast-charging stations is being launched across the country by Petro-Canada, which is part of Calgary-based energy giant Suncor. The company announced on Wednesday that more than 50 of these stations will be located along the Trans-Canada Highway at Petro-Canada stations from Nova Scotia to British Columbia. It said construction is…

One-quarter of Canadians didn’t save a penny in 2018

There's no better time to tighten the fiscal purse strings than when interest rates are on the rise: BMO

One-quarter of Canadians didn’t save a penny in 2018Here’s a scary thought on the state of household finances in Canada. A new report released on Tuesday by BMO said one-quarter of Canadians didn’t save a penny in 2018 as Canadian household credit burdens keep creeping higher. “The current environment is putting some pressure on Canadians' finances, making it more difficult for them to…

Suncor Energy net loss hits $280 million in quarter

Total oil sands production hit a new quarterly record of 740,800 barrels per day

Suncor Energy net loss hits $280 million in quarterCalgary-based Suncor Energy reported a net loss of $280 million in its fourth quarter of 2018 compared with net earnings of $1.382 billion for the same quarter in 2017. In a news release, the energy giant said the decrease “was primarily a result of unfavourable western Canadian crude oil differentials, including a substantial widening of…

Christmas overspending drops significantly for Canadian shoppers

Biggest drop was among 18-to-34-year-olds and women, who cut their overspending by almost $200: RBC

Christmas overspending drops significantly for Canadian shoppersOverspending dropped significantly among Canadian shoppers this past holiday season, to an average of $384. That’s down 28 per cent from the $530 average of 2017, the lowest level in eight years, according to the annual RBC Post-Holiday Spending & Saving Insights Poll, which was released on Wednesday. “We're all tempted to toss aside the…

Single Canadians reluctant to buy homes

RE/MAX survey shows economic uncertainty and expensive home prices are the biggest factors

Single Canadians reluctant to buy homesA national survey of single Canadians indicates they’re reluctant to purchase a home. According to the RE/MAX survey conducted by Leger and released on Tuesday, 52 per cent of single Canadians said economic uncertainty and expensive home prices are the biggest factors impacting their decision not to purchase a home on their own. The survey…

WestJet’s 2018 net earnings nosedive by more than 67 per cent

Calgary company’s total revenue in 2018 rose by 5% to $4.7 billion

WestJet’s 2018 net earnings nosedive by more than 67 per centCalgary-based WestJet saw its net earnings plunge by 67.2 per cent year over year in 2018. In reporting its fourth quarter and year-end results on Tuesday, the airline said full-year net earnings of $91.5 million were down from $279.1 million in 2017. Diluted earnings per share also fell by 66.4 per cent to 80 cents…
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