Hundreds of abuse victims linked to a long-running insolvency case involving a Catholic archdiocese in Newfoundland and Labrador will soon be receiving more cash after a court approved the disbursement of more than $14 million raised through the sale of churches and other assets, CBC.com reported. Cheques are expected to be distributed sometime in July to nearly 360 claimants who endured abuse at the hands of Christian Brothers at the notorious Mount Cashel orphanage in St. John's, and members of the clergy and other religious orders.
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Inflation in Canada steadied in May as drivers paid less at the pump and hefty rent increases continued to cool, though the central bank may still lack a clear enough signal to cut interest rates again, the Wall Street Journal reported. The consumer-price index rose a slightly hotter-than-anticipated 0.6% for the month to leave annual inflation unchanged at an as-expected 1.7%, a second straight month below the Bank of Canada’s 2% target, thanks in large part to the scrapping of a carbon tax in April, Statistics Canada data released Tuesday showed.
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Canada’s antitrust watchdog recommends the government ease restrictions on foreign investment in the country’s airline sector to stimulate competition–such as allowing nonresidents to own 100% of a domestic-focused carrier, the Wall Street Journal reported. The Competition Bureau issued its findings after a nearly yearlong study about Canada’s airline market on ways to stoke fiercer rivalries among operators. The country’s two major airlines, Air Canada and WestJet, account for about half to three-quarters of domestic passenger traffic, the bureau said.
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A B.C. Supreme Court judge has reassured the B.C. Securities Commission that a bankrupt man cannot discharge the $6.8 million he has been ordered to repay investors, BIV.com reported. On the heels of a Supreme Court of Canada ruling last year that set the bar for what monetary fines and penalties can and cannot be discharged, the commission sought clarity through an application to the province’s top court that the $6.8 million owed by Thomas Arthur Williams cannot be discharged.
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A regulatory disgorgement order will survive a fraudster’s bankruptcy, a court in British Columbia confirmed — a ruling that comes in the wake of a recent Supreme Court of Canada decision which found that regulatory penalties can be wiped out by bankruptcy proceedings, the Advisor reported. Back in 2016, the B.C. Securities Commission (BCSC) ordered sanctions against a former mutual fund rep, Thomas Arthur Williams, after finding that he defrauded investors in an alleged Ponzi scheme, which took in $11.7 million from investors between 2007 and 2010.
LeddarTech Holdings Inc., an AI-driven software company specializing in advanced driver assistance systems and autonomous driving, announced in a press release that Nasdaq has issued a determination letter indicating its intention to suspend trading of the company's securities on June 24, 2025, leading to delisting, nasdaq.com reported. This decision is based on LeddarTech's recent announcement to file under the Canadian Bankruptcy and Insolvency Act (BIA), raising public interest concerns regarding the company's financial stability and compliance with Nasdaq listing requirements.
Bank of Canada Gov. Tiff Macklem said Wednesday that it is possible the central bank’s preferred gauges of core inflation might be overstating how much prices are rising, the Wall Street Journal reported. Core inflation has accelerated above 3%, and central bank officials fear that firmer inflation could be stronger than they initially expected and could persist. The Bank of Canada sets rate policy to achieve and maintain 2% inflation.
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Canadian home sales notched their first gain since November, rising 3.6 percent between April and May, according to the Canadian Real Estate Association (CREA), the Financial Post reported. The increase was led by sales in the Greater Toronto Area, Calgary and Ottawa, CREA said in its latest housing report. “May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” CREA senior economist Shaun Cathcart said in a release.
Canadian home sales notched their first gain since November, rising 3.6 percent between April and May, according to the Canadian Real Estate Association (CREA), the Financial Post reported. The increase was led by sales in the Greater Toronto Area, Calgary and Ottawa, CREA said in its latest housing report. “May 2025 not only saw home sales move higher at the national level for the first time in more than six months, but prices at the national level also stopped falling,” CREA senior economist Shaun Cathcart said in a release.