Finance

Introduction Canada has long been a beacon of opportunity, attracting millions of immigrants to shape its diverse society. This article delves into the government's strategic plan to enhance Canada's immigration quota, aiming to welcome over 1.3 million individuals by 2024. 2022-24 Immigration Levels Plan The government has outlined a detailed strategy under the 2022-24 Immigration Levels Plan, projecting annual target numbers: Projections from Previous Estimates 2022: 537,000 immigrants. 2023: 619,000 immigrants. 2024: 682,000 immigrants. Changes in Immigration Targets Reflecting new estimates and considerations for economic growth, the revised targets include: 2022: 573,000 immigrants (an increase of 36,000). 2023: 648,000 immigrants (an increase of 69,000). 2024: 712,000 immigrants (...

Here is the rewritten text based on the provided content: Bank of Canada Holds Rates Unchanged Amid Economic Stagnation In their most recent monetary policy meeting, the Bank of Canada maintained its benchmark interest rate at 5%, signaling a cautious approach to potential economic changes. This decision followed an environment where inflation pressures had begun to ease, with data indicating core inflation remained within a manageable range. Economic Performance and Inflation Dynamics: The Bank of Canada highlighted that inflationary pressures were not as pronounced as they had been in previous quarters. Despite household spending and home construction providing some support during the middle quarters of 2023, broader economic growth remained stagnant. Real GDP contracted slightly in the...

The Canadian housing market faces challenges amid high mortgage rates and tight supply. Homebuyers across the country are waiting for the Bank of Canada to lower rates to alleviate rising payments. Statistics reveal that median home prices have stagnated at $513,000 in Toronto, a 4% increase since early 2022, while average rent jumped 16%. The National Bank of Canada reported a decline in housing affordability, bringing it nearly back to the worst levels seen in the 1980s. In contrast, international markets like Hong Kong offer higher housing prices, with downtown apartments fetching US$3,083 per square foot, compared to Canada's $866.70 average. This stark difference highlights the affordability struggles for Canadian renters at $866.70 per square foot in Vancouver. The Bank of Canada has...

The transition to all-electric Canada is a significant step towards reducing our environmental impact and relying more on renewable energy sources such as hydro and solar power. This shift offers numerous benefits, including lower carbon emissions and improved air quality. However, it's important to recognize that while the majority of Canadians will see long-term savings from reduced fuel costs and greener transportation options, some provinces may experience short-term increases in electricity expenses due to higher demand or region-specific pricing structures. Despite these challenges, the overall journey toward electrification is a positive one for Canada as a whole. This transition underscores the importance of coordinated efforts at both federal and provincial levels to ensure afford...

Introduction The Canadian banking industry is bracing itself for a potential "mortgage war" as interest rates continue to drop, making it increasingly difficult for lenders to retain their customers. The heads of Canada's top banks expect many mortgage holders to be able to renew at lower rates over the next two years as the lenders compete for a larger share of the market. Expectations from Top Bank CEOs According to Royal Bank of Canada (RBC) CEO Dave McKay, 60% of RBC customers will renew their mortgages at lower rates in 2025. He emphasized that this does not imply that Canadians are not struggling with their payments now but rather that the risk of not being able to absorb higher mortgage payments has decreased. "When we look at the cohorts that have higher payments, lo...

Vancouver Port Bottlenecks Ease, But Cargo Still Stuck for Days The worst of Canada's supply chain bottlenecks may be over as port congestion and freight delivery times are starting to improve. According to a recent report by Desjardins Economic Studies, the backlog at the Port of Vancouver is slowly decreasing. However, there is still a significant amount of cargo stuck in transit, causing delays and increased costs for shippers. Port Congestion and Freight Delivery Times The Port of Vancouver is one of Canada's busiest ports, handling over 140 million tonnes of cargo each year. The port has been experiencing congestion issues due to a combination of factors, including labor disputes, equipment shortages, and increased demand for container space. The average dwell time at the port, which ...

Google Parent Alphabet Inc. Posts Quarterly Sales Close to Wall Street Estimates In a sigh of relief for investors, Google parent Alphabet Inc. announced its quarterly sales on Tuesday, which came close to meeting Wall Street's expectations. The world's largest seller of online advertising had been bracing itself for disappointing results, especially after rival social media companies Snap and Twitter posted lackluster quarterly performances. Search Ads Top Expectations Google's search ad business actually exceeded analysts' forecasts, with sales reaching $56.29 billion in the second quarter. This represents a 13% increase from the same period last year and is just below the average estimate of $56.67 billion. The strong performance of search ads can be attributed to their ability to drive...

The good news on the U.S. economy, which had been a welcome respite from earlier fears of a recession, has turned bad again for Wall Street. The stock market slumped on Tuesday following better-than-expected reports on the job market and business activity. Stock Market Declines The S&P 500 fell by 1.1% after giving up an early gain. The Dow Jones Industrial Average dropped by 178 points, or 0.4%, while the Nasdaq composite tumbled by 1.9%. Stocks plummeted under the weight of rising yields in the bond market, which jumped immediately after the release of the encouraging reports on the economy. Job Market and Business Activity One report said that U.S. employers were advertising more job openings at the end of November than economists had expected. The other report stated that activity ...

Nvidia Unveils GeForce RTX 50 Series: Revolutionizing PC Gaming with AI-Powered Performance CES 2025 Keynote Highlights Nvidia's Latest Innovation At the highly anticipated CES 2025 keynote, Nvidia (NVDA) CEO Jensen Huang took center stage to introduce the company's latest groundbreaking technology for desktop and laptop gaming systems. The GeForce RTX 50 series, built on the Blackwell architecture that powers Nvidia's AI data center chips, promises an unparalleled level of performance enhancement for PC gamers and content creators. A New Era of Graphics Processing The new lineup includes four models: the RTX 5070, RTX 5070 Ti, RTX 5080, and RTX 5090. These powerful cards are not only faster but also more efficient, utilizing TSMC's 4-nanometer chip process. The top-of-the-line model, the ...

XWELL, Inc. Announces New Senior Leadership Appointments January 7, 2025 (GLOBE NEWSWIRE) - XWELL, Inc. (Nasdaq: XWEL), a leading global wellness holding company operating multiple brands, today announced new senior leadership appointments to support the Company’s strategic growth and business objectives. New CFO Appointed Ian Brown joined XWELL as its new Chief Financial Officer on January 6, 2025, succeeding Suzanne Scrabis. Mr. Brown has deep financial expertise and a proven track record in operational excellence, business operations, and mergers and acquisitions. "Mr. Brown brings over 25 years of experience in operational finance," said XWELL CEO Ezra Ernst. "He has expertise in systems transformation, financial operations, and back-office process improvement." Pr...