The Bank of Canada says households can weather higher borrowing costs, but flagged rising asset valuations and financial stress among renters as risks to the outlook, Bloomberg News reported. Canadians are “proactively” adjusting to higher interest rates, and the financial system “remains resilient,” the central bank said in its annual review of the system published Thursday. And while payments have risen for about half of the country’s mortgages, households have higher wages and savings, officials said, and they’re adjusting their spending patterns.

Orea Mining Corp., has been permanently delisted from trading on the Toronto Stock Exchange and the OTCQB; transfer agent, clearing, CDS and DTC services are inactive or have terminated, according to a company press release. Orea was assigned into bankruptcy on April 17, 2024. Crowe MacKay & Company Ltd., has been appointed as Licensed Insolvency Trustee (the "Trustee") of Orea's bankrupt estate, and affirmed by Orea's creditors at a meeting held on May 7, 2024.

Business insolvencies in Canada are hitting their highest point since the Great Recession, new data show, the Globe and Mail reported. According to the federal Office of the Superintendent of Bankruptcy, 2,003 business insolvencies were filed from Jan. 1 to March 31 of this year. Of those, 1,599 were bankruptcies and 404 were proposals, which is a legal option to negotiate lower debt repayment with creditors. The number of insolvencies was up 32 per cent from the previous quarter, and 87 per cent from the same quarter last year.

A Nova Scotia judge received good news Tuesday during an update on the proposed sale of SaltWire Network Inc. and The Halifax Herald Ltd., two financially troubled companies that operate Atlantic Canada's largest newspaper chain, the Canadian Press reported. Those shepherding the restructuring process told Nova Scotia Supreme Court Justice John Keith that progress is being made toward securing a deal that could see all or part of the insolvent businesses sold to one or more bidders.

Canada’s economy lost momentum after a strong start to the year and is tracking below the central bank’s latest forecast, supporting expectations a first cut to interest rates could come before summer, the Wall Street Journal reported. Preliminary data suggest gross domestic product, a broad measure of goods and services produced across the economy, was essentially unchanged in March, Statistics Canada said Tuesday. That follows 0.2% growth in February GDP from the month before to 2.218 trillion Canadian dollars, the equivalent of $1.624 trillion.

Laurentian University's board of governors has approved a budget of just over $201.7 million for the 2024-25 fiscal year with $8 million being set aside to enact recommendations to bring the university up to modern operating standards following its insolvency, CBC.ca reported. The university declared insolvency in February 2021; the first public post-secondary institution to choose federal legislation meant to restructure commercial enterprises in financial crisis. As a result of restructuring, 69 undergraduate and graduate programs and 195 faculty positions were cut at Laurentian.

Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts, Bloomberg News reported.

Canadian consumers haven’t tightened their belts this much in nearly a year, and there are no signs of spending growth since the start of 2024, Bloomberg News reported. Receipts for retailers were unchanged in March, according to an advance estimate from Statistics Canada released Wednesday. That followed a 0.1% drop in February. Taken together with the 0.3% plunge in January sales, the figures point to a flat reading in the first three months of the year, the weakest pace since the second quarter of 2023.

Canadian consumer prices reaccelerated slightly as expected due to higher gasoline prices, while core metrics showed further disinflation progress, keeping the central bank on track to pivot to easier policy as early as June or July, Bloomberg News reported. The consumer price index rose 2.9% in March from a year ago, up from a 2.8% increase a month earlier, Statistics Canada reported Tuesday in Ottawa. That matched the median estimate in a Bloomberg survey. Excluding gasoline, the index slowed to 2.8% from a year ago, down from 2.9% in February.

Prime Minister Justin Trudeau’s government is set to unveil an ambitious budget aimed at fixing housing affordability and helping young Canadians — but the big question is whether it will raise taxes to pay for it, Bloomberg News reported. The government has already announced at least C$46 billion ($33.4 billion), including C$17 billion in loans, for measures that include boosting housing supply, supporting artificial intelligence development and increasing defense spending.