Canadian business sentiment weakened during the second quarter of 2026, reversing gains made over the previous three quarters as higher fuel costs and geopolitical tensions dampened confidence, according to the latest Business Outlook Survey released by the Bank of Canada. The survey found that firms across the country reported a softer sales outlook, citing slower business and consumer spending linked to rising energy prices and uncertainty surrounding the conflict in the Mi

Canada has reaffirmed its support for the continued renewal of the Canada-United States-Mexico Agreement (CUSMA) following a trilateral meeting with trade officials from the United States and Mexico. In a statement released Wednesday, Dominic LeBlanc, Minister responsible for Canada-U.S. Trade, said he met with Jamieson Greer and Marcelo Ebrard as part of the fifth Free Trade Commission review of the agreement. The meeting was held under the joint review provisions outlined i

The inflation rate increased 3.2 percent in May, up from a 2.8 percent gain in April. Higher prices for gasoline continued to drive the acceleration. Excluding gasoline, inflation still rose at a faster pace year over year in May at 2.2 percent compared with April, which was at 2.0 percent. On a seasonally adjusted monthly basis, the CPI increased 0.5 percent, largely due to a rise in the recreation, education, reading and transportation components. Shelter prices continue to

In April, retail sales increased nationally by 0.5% to $73.0 billion. Sales were up in five of nine subsectors, led by increases at gasoline stations and fuel vendors. The largest increase in retail sales in April was observed at gasoline stations and fuel vendors. Sales at motor vehicle and parts dealers were up 1.7% in April. The increase was led by sales at new car dealers, which posted a fourth consecutive monthly gain. Sales were also up at used car dealers in April afte

The Northern cod fishery is generating increasing economic benefits for Newfoundland and Labrador, with exports, employment and landed values all rising as the stock continues its recovery. According to Fisheries and Oceans Canada, Northern cod landings reached 32,700 tonnes in 2025, more than double the levels recorded when the commercial fishery reopened. The fishery generated an estimated landed value of $75 million last year. Northern cod accounted for six per cent of the

Embraer E195-E2. Source: PorterE195-E2E195-E2 Porter Airlines has announced a new flight between Deer Lake Regional Airport and Ottawa International Airport, making it the only carrier flying nonstop between the two locations. The seasonal route starts with four weekly round-trip flights and ends in early September. The Embraer E195-E2 aircraft used for these flights carries up to 132 passengers, and with a two-by-two configuration, there are no middle seats on any flight. Th

Today, the Bank of Canada held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The conflict in the Middle East is now in its fourth month. The resulting increases in energy prices and disruptions in global supply chains are weighing on global economic growth and pushing up inflation. At the same time, the US administration continues to propose new tariffs and trade policy uncertainty remains elevated. In Canada, GDP edged

Tim Hortons has launched a national hiring campaign aimed at recruiting 10,000 new local team members across Canada this summer. The coffee and restaurant chain addressed its use of the Temporary Foreign Worker Program, stating that roughly 4,000 of its approximately 110,000 employees were hired through the program. The company said that represents about 3.6 per cent of all restaurant roles and noted the number has declined steadily since 2024. Tim Hortons said temporary fore

The inflation rate increased to 2.8% in April, up from an increase of 2.4% in March. Higher energy prices, most notably gasoline prices, drove the acceleration, according to Statistics Canada. The removal of the consumer carbon levy in April 2025, which resulted in monthly declines for gasoline and natural gas, has now fallen out of the 12-month movement, putting upward pressure on the all-items CPI. Excluding gasoline, inflation rose at a slower pace year over year in April

The Government of Newfoundland and Labrador has signed a letter of intent with Kruger Inc., owner of Corner Brook Pulp and Paper Ltd., to continue discussions on the company’s diversification plans and a potential long-term power purchase agreement with Newfoundland and Labrador Hydro. Under the proposed arrangement, the provincial government plans to extend the current interim power purchase agreement between Newfoundland and Labrador Hydro and Corner Brook Pulp and Paper fo

Today, the long-awaited Independent Review Committee report respecting the Memorandum of Understanding for a New Long-Term Energy Purchase and Development Initiative Between Newfoundland and Labrador Hydro and Hydro-Québec was released. Premier Tony Wakeham and Minister Lloyd Parrott held a news conference to discuss the report. Government says the MOU in its current form is not in the best interest of the province. The committee also raised concerns about how the negotiation

With food prices increasing rapidly, every dollar counts. We went shopping at Walmart, Sobeys, and Dominion to buy typical staples in most homes. We bought milk, bread, eggs, chicken, French fries, onions, apples, pasta, and cheese. Here is what we found. Product Walmart Sobeys Dominion (Loblaws) Milk (Scotsburn 2% Partly Skimmed Milk) $4.58 $5.25 $4.76 Bread (Villaggio® Classico Italian Style White Thick Sliced Bread) $4.14 $4.59 $4.99 Eggs $5.24 $5.29 $6.25 Chicken (Pub Sty

The number of employees receiving pay and benefits from their employer fell in February, reversing gains seen the previous month, according to new data from Statistics Canada. Payroll employment decreased by 60,200 jobs, or 0.3 per cent, in February, following an increase of 44,300 positions in January. On a year-over-year basis, employment levels were virtually unchanged. The decline was led by losses in several key sectors, with transportation and warehousing seeing the lar

Reddy Kilowatt Credit Union in Mount Pearl. Photo Kyle Brookings Members of Newfoundland and Labrador Credit Union and Reddy Kilowatt Credit Union have voted in favour of a proposed merger, clearing the way for the two financial institutions to combine operations. The vote took place between April 20 and April 27, with results announced during separate virtual special meetings held on Thursday evening. “This is a significant day for our members and the communities we serve,”

A new report from the Fraser Institute argues Newfoundland and Labrador’s latest provincial budget fails to address long-standing fiscal challenges and risks continuing a cycle of deficits and rising debt. In the analysis, authors say the province’s ongoing deficit problem stems from what they describe as a mismatch between government revenues and spending. The report points to reliance on volatile oil and gas revenues as a key issue. Governments often increase spending when

Canada’s real gross domestic product rose 0.2 per cent in February, marking a second consecutive month of growth driven largely by goods-producing industries. The increase was led by a 0.4 per cent gain in goods-producing sectors, with notable expansions in manufacturing as well as mining, quarrying, and oil and gas extraction. Services-producing industries saw more modest growth, edging up 0.1 per cent during the month. Gains in transportation and warehousing, along with who

Today, the Bank of Canada held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The Bank’s April outlook assumes tariffs remain unchanged and the global benchmark price of oil declines to US$75 per barrel by mid 2027. The Iran war has led to sharply higher energy prices and transportation disruptions, diminishing growth prospects in oil-importing countries and boosting inflation worldwide. Financial conditions have been vol

The Bank of Canada will make its decision on the interest rate on Wednesday. The rate was unchanged in March and was at 2.25 percent. The rate has been unchanged since October. The bank impacts interest rates on all kinds of other borrowing in the economy, including the prime rate of commercial banks and interest rates paid on deposits, guaranteed investment certificates and other savings.

The Government of Canada has approved a major natural gas infrastructure project in British Columbia aimed at increasing supply and supporting exports. Minister of Energy and Natural Resources Tim Hodgson said the Sunrise Expansion Program will move ahead, allowing for a $4-billion upgrade to Enbridge’s Westcoast pipeline system. The project is expected to add up to 300 million cubic feet per day of capacity to the province’s main natural gas transmission network. Officials s

The provincial government is stepping in to reduce a planned electricity rate increase set for July 1, using a one-time credit to bring down the expected hike. Premier Tony Wakeham has directed Newfoundland and Labrador Hydro to apply $45 million from the Rural Rate Alteration account to offset costs linked to Newfoundland Power. Electricity rates had been projected to rise by about seven per cent. With the credit applied, the increase for island residential customers is expe