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2 Bank of Canada surveys show consumers and businesses expect high inflation to stick around

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Two surveys from the Bank of Canada Friday show that while consumers and businesses are still expecting things like inflation and wages to be higher than usual for the foreseeable future, they are starting to come back to some sort of pre-pandemic normal — and they’ re less worried about a recession, too.

In its quarterly Business Outlook Survey, the central bank says Canadian businesses are starting to see demand for their products and services decline from the unsustainable levels they hit earlier in the pandemic. Higher interest rates have had a “dampening effect” on businesses, which overall now expect

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CNN in crisis

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A man is seen with a laptop depicting the CNN logo with Donald Trump appearing in the background.

A man is seen with a laptop depicting the CNN logo with Donald Trump appearing in the background. Jaap Arriens / NurPhoto via Getty Images

Hemorrhaging viewers post-Trump, CNN is trying to broaden its appeal. Can it get Republicans to tune in? Here’s everything you need to know:

Why is CNN struggling?

The network is suffering an identity crisis, as its owners and newsroom fight over how to cover the GOP and Donald Trump’s incendiary 2024 presidential bid. When Trump was in office, ratings soared as CNN departed from conventional news coverage and permitted impassioned commentary from anchors and correspondents

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Irving Oil considers the sale of the company as part of a strategic review

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Irving Oil says it has launched a strategic review that will consider, among other things, “a full or partial sale” of the company, one of the largest in New Brunswick.

“A strategic review of the company is underway, and a series of options are being evaluated related to the company’s future,” the Saint John-based company said in a statement.

“No decisions have been made about where this strategic review may lead. Considerations will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them.”

The

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Credit unions trending towards greater unity as tech pressures mount – Business News

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From the Tobacco Workers’ Credit Union in Guelph to the New Community Credit Union in Saskatoon, the names tell part of Canada’s history even as they’re now history themselves.

The two credit unions are part of a growing number that has been bought, merged or shut down over the years as a combination of pressures push increasing consolidation in the sector.

While credit union numbers have been on the decline since the 1960s, insiders say rising technology demands, which

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Canada’s economy grew by more than expected in the first quarter, upping the odds of the rate hike next week

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The Canadian economy grew at an annualized rate of 3.1 per cent in the first quarter of 2023, Statistics Canada reported Wednesday.

The latest data shows growth beating out the federal agency’s own forecast of 2.5 per cent for the quarter. A preliminary estimate suggests the economy grew by 0.2 per cent in April, after remaining flat in March.

The ongoing resilience in the economy will likely spur discussions of a potential rate hike, as the Bank of Canada is expected to make its next interest rate announcement next week.

The relatively strong GDP showing investors had increasing the odds

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Canadian public pension fund investments in China draw heightened scrutiny – Business News

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Investments in China by Canada’s largest public pension funds are facing increased scrutiny amid worsening relations between the two countries and allegations that some of those investments are funding the oppression of China’s Uyghur minority.

Recently, representatives of the Ontario Teachers’ Pension Plan and the British Columbia Investment Management Corporation, which manages the pensions of BC public sector workers, told a parliamentary committee studying Canada-China relations that they had paused new direct investment in China because of the increasing risks associated with that country.

That pause came amid

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US inflation rate cools to 4.9% but consumer prices are still stubbornly high

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Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, suggesting that rising costs could persist for months to come.

Prices rose 0.4 per cent from March to April, the government said Wednesday, up from 0.1 per cent from February to March. Compared with a year earlier, prices rose 4.9 per cent, down slightly from March’s year-over-year increase.

The nation’s inflation rate has steadily cooled since peaking at 9.1 per cent last June, but remains far above the Federal Reserve’s two per cent target rate.

The Fed is paying particular attention to so-called

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Streaming bills may create a two-tier system, hurting Cdn. creators – Business News

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Double standard streaming?

The Canadian Press – | Stories: 423868

At least one Canadian media production association says the country’s new streaming legislation could create a two-tier system where foreign streamers are held to lower standards than Canadian broadcasters.

The Canadian Media Producers Association says Bill C-11, which was passed Thursday, could result in foreign streamers being allowed to use fewer Canadian creators in the production of Canadian programming.

The group representing thousands of companies in the TV, film and digital media business says the CRTC, which has been tasked

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