New mortgages down in Canada: CMHC

New mortgages down in Canada: CMHCMortgage loans in Canada declined in 2018 due to new mortgage regulations, rising rates and softening housing markets, according to Canada Mortgage and Housing Corp.’s  first Residential Mortgage Industry Report.  “Over the last year, activity in the Canadian mortgage landscape slowed after many years of strong increases, which had been driven by rising housing prices…

Alberta cities lack tech talent of other major North American markets

Toronto ranked third, Vancouver 12th, Montreal 13th and Ottawa 19th in top-50 list: CBRE report

Alberta cities lack tech talent of other major North American marketsAs Calgary and Edmonton try to establish a significant tech industry in Alberta, a report released on Thursday by commercial real estate firm CBRE indicates just how far behind Alberta is when it comes to tech talent. Neither Alberta city made it to the top 50 list in North America for tech talent. But both…

Albertans’ retirement income expectations highest in country

RBC poll says many Canadian baby boomers worry about a retirement savings shortfall

Albertans’ retirement income expectations highest in countryMany Canadian baby boomers worry about a retirement savings shortfall and Albertans have the highest expectations for how much they think they’ll need to save for retirement, according to a report released on Thursday by RBC. In a poll, Albertans surveyed said they think they will have to save $1.1 million for their retirement. The…

Alberta EI beneficiaries continue to decline

In Canada, 441,310 people received regular benefits in May, up by 2,020 from the previous month but down 19,630 from a year ago

Alberta EI beneficiaries continue to declineThe number of people receiving regular Employment Insurance benefits continues to fall in Alberta. Statistics Canada reported on Thursday that there were 49,090 regular EI beneficiaries in the province in May, down 1,920 from April and a decrease of 4,120 from a year ago. “The decline was similar to the one observed in April. In…

Canada not reaching full potential for crude oil production

An ongoing lack of pipeline capacity has restricted the growth of Canadian crude production: ATB

Canada not reaching full potential for crude oil productionUnlike in the U.S., Canada has not been able to reach its full potential when it comes to crude oil production, says ATB Financial’s economics and research team. In its daily economic update The Owl, the financial institution said the U.S. shale oil revolution made possible by horizontal drilling and hydraulic fracturing pushed U.S. field…

Two-thirds of non-bank residential mortgages are uninsured

Two-thirds of non-bank residential mortgages are uninsuredStatistics Canada reported Friday that non-bank mortgage lenders held 1.7 million residential mortgages in the fourth quarter of 2018, two-thirds of which were uninsured. At the end of the fourth quarter of 2018, 1.7 million residential mortgages with a total value of $325.5 billion were outstanding, it said, adding that the uninsured mortgages outstanding contributed…

Purolator launches e-commerce delivery service

Seven days a week with same-day or next-day delivery for consumers in Toronto, Montreal, Ottawa and Vancouver

Purolator launches e-commerce delivery service Purolator is launching a new service to take advantage of the boom in e-commerce throughout Canada. On Thursday, it introducted Purolator QuickShip, the country's first service that gives businesses the opportunity to deliver products to consumers seven days a week with same-day or next-day delivery. “In the next five years, we anticipate that 50 per…

Cenovus reaches one billion barrels of oil sands production

Company says its two facilities have created thousands of jobs and contributed over $25 billion in capital spending to the Canadian economy

Cenovus reaches one billion barrels of oil sands productionCalgary-based Cenovus says it has reached a significant milestone with one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. It said it’s the first company to produce one billion barrels of oil using steam-assisted gravity drainage (SAGD) technology. “This incredible achievement for Cenovus represents over…

Postmedia net loss hits $7.7 million for third quarter

Postmedia net loss hits $7.7 million for third quarterCanadian media giant Postmedia continues to see declining revenues and net losses. On Wednesday, it said it “intends to continue to identify and undertake ongoing cost reduction initiatives in an effort to address revenue declination in the legacy print business.” In reporting its financials for the three months ended May 31, Postmedia said its net…
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