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January 11, 2019 12:41 PM RBC’s CEO vows improvement to disappointing mortgage performance

Margins in the domestic mortgage business “were challenged” and the market was “super competitive” last year, McKay said. Toronto-based Royal Bank, Canada’s largest mortgage lender, with $246.9 billion (Canadian) of home loans as of Oct. 31, will do better and gain back some market share this year, McKay said. He expects the domestic mortgage market 138

January 8, 2019 7:23 PM Nova Scotia’s minimum wage expected to increase to $11.55 on April 1

The minimum wage is also expected to rise to about $12.10 in April 2020 and $12.65 in April 2021. Starting April 1, 2022, the rate will be adjusted annually with inflation. According to Statistics Canada, 6.6 per cent of employees in Nova Scotia earned minimum wage during the period of April 2016 to March 2017. Minimum wage earners work primarily in retail 134

January 4, 2019 1:47 PM Canada’s unemployment rate sticks at 43-year low of 5.6%; weak wage growth persists

OTTAWA—The unemployment rate stayed at its 43-year low of 5.6 per cent last month as the economy closed out 2018 with the addition of 9,300 net new jobs, Statistics Canada said Friday. For the second straight month, the jobless rate was at its lowest level since Statistics Canada started measuring comparable data in January 1976. Economists had expected 131

January 3, 2019 11:22 PM Apple bombshell shakes financial markets to the core

While Apple’s stunning announcement this week shook financial markets, its cause could shake the Canadian economy. As one of the world’s biggest tech companies announced Wednesday it was lowering its profit estimates, Apple CEO Tim Cook suggested a slowing Chinese economy — resulting in lower iPhone sales — was largely to blame. Stock markets around 131

December 24, 2018 9:37 PM Still sending mail? Canada Post stamp prices to increase in January

OTTAWA—Unless you really hurry, sending a letter to Santa for next Christmas will cost you a nickel more. Starting Jan. 14, Canada Post says the cost for an individual stamp on a letter sent within Canada will be $1.05, instead of a loonie. Other increases for mail within the country range between a dime and 35 cents depending on the size of the letter 143

December 21, 2018 2:14 PM Factories lead Canada’s fastest economic growth in five months

Canadian gross domestic product grew at the fastest pace in five months on a lift from manufacturing, giving the economy fresh momentum to open the fourth quarter. Output grew 0.3 per cent in October, Statistics Canada said Friday from Ottawa, faster than the median forecast in a Bloomberg economist survey of 0.2 per cent. Factory production expanded 134

December 18, 2018 5:35 PM Thyroid, kidney cancers rise slightly in kids; overall childhood cancer rate is stable: Study

CHICAGO - Children's kidney and thyroid cancers have increased in recent years, and though the diseases are rare, experts wonder if the rising rates could be related to obesity. The rate for all childhood cancers combined, 171 cases per million children, remained stable from 2001 to 2009 although slight increases were seen in blacks and adolescents 174

December 15, 2018 10:00 AM ‘Soft’ skills key for young people looking for work, says study

Those sectors are the best bets for youth looking for an entry-level position, according to a study which is being released Monday by Civic Action. And employers in all those industries are looking for some of the same abilities: most sought-after are skills such as communication and empathy — not just the latest technical knowledge or courses 109

December 13, 2018 3:45 PM Toronto and Vancouver most ‘vulnerable’ to interest rate hikes, says CMHC

Canadians living in two of the country’s largest cities may find themselves more “vulnerable” to interest rate increases as personal debt levels in Toronto and Vancouver continue to hit record-levels, warns a report by Canada Mortgage Housing Corp. The housing agency says the debt-to-income (DTI) ratio for those living in Vancouver climbed to 242 per cent in the second 138

December 12, 2018 7:18 PM U.S. homebuyers get a break as bidding wars fall to lowest since 2011

In November, 32 per cent of home-purchase offers with a Redfin agent involved had multiple bidders, the lowest share since the brokerage began tracking such deals in January 2011. A year earlier, 45 per cent of offers had at least one competitor, Seattle-based Redfin said in a report released Wednesday. Some of the hottest property markets are cooling 99