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Canadian small businesses rack up $135 billion in debt to survive pandemic: Report

Canadian small businesses rack up $135 billion in debt to survive pandemic: Report

TORONTO — Canada’s small businesses have collectively taken on $135 billion in debt in an attempt to survive the pandemic, a dizzying amount that could hurt the country's economic recovery, according to a report released Thursday.
Quebec's Caisse posts 7.7-per-cent return in 2020 as real estate underperforms

Quebec's Caisse posts 7.7-per-cent return in 2020 as real estate underperforms

MONTREAL — The Caisse de depot et placement du Quebec posted a return of 7.7 per cent in 2020, below its benchmark index of 9.2 per cent as the investment fund plans changes to its portfolio in response to the COVID-19 pandemic.
Imperial Oil reports one-billion-barrel drop in bitumen reserves at end of 2020

Imperial Oil reports one-billion-barrel drop in bitumen reserves at end of 2020

CALGARY — Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers.
B.C. pandemic recovery forecast shows steady economic growth to 2023: Central 1

B.C. pandemic recovery forecast shows steady economic growth to 2023: Central 1

VANCOUVER — Healthy growth is forecast for British Columbia through 2023 by Central 1, the financial services partner for 250 credit unions across Canada. The Vancouver-based firm predicts growth of 4.2 per cent this year, 4.
Home sales shifting towards pricier housing in several major markets, CMHC says

Home sales shifting towards pricier housing in several major markets, CMHC says

Buyers are spending more money on home purchases in several major Canadian cities, even as the COVID-19 pandemic causes layoffs and income reductions across the country. The Canada Mortgage and Housing Corp.
OMERS says its portfolio lost 2.7 per cent, net of expenses, in 2020

OMERS says its portfolio lost 2.7 per cent, net of expenses, in 2020

TORONTO — OMERS says its portfolio lost 2.7 per cent, net of expenses, last year as the COVID-19 pandemic hammered its investments.
CIBC CEO says mortgage market and cash-back credit cards helped in Q1 profit beat

CIBC CEO says mortgage market and cash-back credit cards helped in Q1 profit beat

TORONTO — CIBC chief executive Victor Dodig credited the fast-paced mortgage market and new cash-back reward credit cards as factors behind the bank's better-than-expected first-quarter profit growth, as the bank also slashed its provisions for credi
Digital exchange Coinbase takes a step toward going public

Digital exchange Coinbase takes a step toward going public

Coinbase has filed papers with U.S. regulators to become a publicly traded company as digital currencies continue to march toward mainstream acceptance.
Quebecor reports Q4 profit up from year ago, raises quarterly dividend

Quebecor reports Q4 profit up from year ago, raises quarterly dividend

MONTREAL — Quebecor Inc. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago. The company said Thursday it will now pay a quarterly dividend of 27.5 cents per share, up from 20 cents.
US contracts to buy homes decline, still a January record

US contracts to buy homes decline, still a January record

SILVER SPRING, Md. — The number of Americans who signed contracts to buy homes declined again with the number of properties for sale not matching the surging demand in the U.S. The National Association of Realtors’ index of pending home sales fell 2.