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September 6, 2026

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The Free Press Math Education Subject Financial Literacy

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Financial Literacy

Please review each article prior to use: grade-level applicability and curricular alignment might not be obvious from the headline alone.

RUTH BONNEVILLE / FREE PRESS FILES
                                J’aime Killbery says she’s still waiting for financial relief from the provincial government after her home was damage in a June storm.

Insurance money spent, family waits for provincial flood aid

Malak Abas 5 minute read Preview

Insurance money spent, family waits for provincial flood aid

Malak Abas 5 minute read Friday, Sep. 4, 2026

Three months after a once-in-a-lifetime rainstorm battered her home and caused extensive flooding, J’aime Killbery is still picking up the pieces while she waits for financial relief from the provincial government.

Killbery lives in Balmoral, north of Stonewall, in the rural municipality of Rockwood, one of the communities hardest-hit by the June 9 deluge. The RM declared a state of emergency after a record-breaking 250 mm of rainfall caused sewer backups and overland flooding.

The damage to the family home was immense. Their fully finished basement was destroyed by sewage water, meaning the walls and flooring needed to be ripped out and replaced.

While family is handling some repairs themselves to cut costs, every repair is expensive, Killbery said.

Read
Friday, Sep. 4, 2026
Stratford Hall, an apartment residence in north Winnipeg on Monday, July 22, 2024. THE CANADIAN PRESS/John Woods

Manitoba expanding rent control threshold to $2,000 a month

Ian Bickis, The Canadian Press 1 minute read Preview

Manitoba expanding rent control threshold to $2,000 a month

Ian Bickis, The Canadian Press 1 minute read Updated: Yesterday at 8:32 AM CDT

WINNIPEG - The Manitoba government says it's following through on a commitment to expand rent control in the province.

It says renters paying up to $2,000 per month will be included in the province's rent-control program starting next year, up from the existing threshold of $1,670.

It says the expansion should mean at least 2,000 additional rental units will be covered by the program.

Landlords can only increase rents by three per cent next year for rent-control units, while the limit is 1.8 per cent this year.

Read
Updated: Yesterday at 8:32 AM CDT
A pedestrian walks past the Bank of Canada in Ottawa, Wednesday, June 10, 2026. THE CANADIAN PRESS/Adrian Wyld

Bank of Canada set to grapple with renewed trade war pressures in rate decision

Craig Lord, The Canadian Press 5 minute read Preview

Bank of Canada set to grapple with renewed trade war pressures in rate decision

Craig Lord, The Canadian Press 5 minute read Tuesday, Sep. 1, 2026

OTTAWA - The Bank of Canada finds itself in a familiar dilemma this week as the escalating trade war with the United States casts an uncertain light over Wednesday's interest rate decision.

The central bank has kept its benchmark rate on hold at 2.25 per cent for nearly a year now.

Before trade talks between Canada and the United States fell apart earlier this month, economists and financial markets alike had widely expected the Bank of Canada would stick to the sidelines for the rest of the year and into 2027.

Recent tariff volleys have changed the economic context.

Read
Tuesday, Sep. 1, 2026
The Western Star All-Suites Hotel in Melita. The Manitoba Labour Board ruled in favour of three employees of the hotel chain in an Aug. 25 decision. (Google Maps)

Foreign workers at Manitoba hotel are owed $138K in unpaid wages and fees, labour board rules

Abiola Odutola 4 minute read Preview

Foreign workers at Manitoba hotel are owed $138K in unpaid wages and fees, labour board rules

Abiola Odutola 4 minute read Sunday, Aug. 30, 2026

BRANDON — The Manitoba Labour Board has ordered the Western Star All Suites Hotel to pay nearly $138,000 in unpaid wages and administrative fees after it dismissed the appeals involving three foreign workers employed by the company.

In a decision dated Aug. 25, the board ordered 6692452 Manitoba Ltd. (doing business as Western Star All Suites Hotel), 1638185 Alberta Ltd. and company director P.X. to pay a total of $137,915.79 to the Employment Standards Branch for wages owed to foreign workers S.J., J.B. and G.R.

The decision was edited to protect the personal information of the employees, who worked at a hotel, reportedly in Melita, at different times and also lived there during their employment.

The board stated the employees were owed wages after hearing evidence about long working hours, irregular payments, inadequate employment records and working conditions.

Read
Sunday, Aug. 30, 2026
A Global Retirement Savers Study by U.S.-based asset manager T. Rowe Price found that more than four in 10 surveyed Canadians are financially stressed. (File image)

Money struggle is real

Joel Schlesinger 6 minute read Preview

Money struggle is real

Joel Schlesinger 6 minute read Saturday, Aug. 29, 2026

You likely don’t need a survey to know Canada is a nation of stressed-out citizens.

We have plenty to worry about, and money is often among the leading stressors.

And yes, there are always surveys measuring our collective money-driven concerns, including the recent, inaugural Global Retirement Savers Study by T. Rowe Price.

The U.S.-based asset manager of more than $2 trillion globally found that more than four in 10 surveyed Canadians are financially stressed.

Read
Saturday, Aug. 29, 2026
Rolled coils of steel sit in the yard at the ArcelorMittal Dofasco steel plant in Hamilton, Ont. on Thursday, August 20, 2026. THE CANADIAN PRESS/Nick Iwanyshyn

Canada’s economy was surging in Q2. Now, it braces for new tariff headwinds

Craig Lord, The Canadian Press 6 minute read Preview

Canada’s economy was surging in Q2. Now, it braces for new tariff headwinds

Craig Lord, The Canadian Press 6 minute read Sunday, Aug. 30, 2026

OTTAWA - Fresh data from Statistics Canada on Friday suggests the economy was growing at a healthy clip in the second quarter and rumblings of a recession earlier in the year might have been overblown.

But economists warned that any momentum the economy had last quarter will be tested by a new wave of tariffs and trade uncertainty.

Real gross domestic product rose 3.3 per cent on an annualized basis in the second quarter, StatCan said. That was the fastest quarterly pace of growth since early 2023 and topped the Bank of Canada's call for 2.5 per cent growth in the quarter.

BMO chief economist Doug Porter said in an interview that 3.3 per cent is a "solid result." A typical quarterly figure over the past 20 years would see the economy growing at around two per cent annualized, he noted.

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Sunday, Aug. 30, 2026

Counter-tariffs add new challenge for retailers

Gabrielle Piché 5 minute read Wednesday, Aug. 26, 2026

Removing trade uncertainty tops Harold Kriewald’s wish list.

On Wednesday, he hadn’t heard from suppliers about which — if any — products at Stalwart Appliances in Winnipeg will be hit with new levies.

Canadian tariffs on $26.7 billion worth of United States imports are set to begin Sept. 8. They come before the holiday season, the retail sector’s busiest stretch.

“(If) the forecast is uncertain, you as the consumer are not always prone to want to make a big purchase,” said Kriewald, Stalwart Appliances’s owner. “Uncertainty is probably the worst thing. The tariffs, of course, bring that uncertainty.”

A sign advising that products from the U.S. affected by a tariff will be marked with a symbol at the shelf, along with a QR code linking to a Government of Canada website, is seen beside a display of Canadian products in a grocery store in Ottawa, on Wednesday, April 2, 2025. THE CANADIAN PRESS/Justin Tang
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Grocers revive signage to indicate tariff-affected items, Canadian products

Ritika Dubey, The Canadian Press 5 minute read Preview
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Grocers revive signage to indicate tariff-affected items, Canadian products

Ritika Dubey, The Canadian Press 5 minute read Saturday, Aug. 29, 2026

Canadian grocers are adding more signage to highlight homegrown products as trade tensions escalate between Canada and the United States.

Loblaw says it is bringing back the T symbols to its grocery shelf labels to signal products that have seen price increases due to tariffs, replicating its response from last year when the tariff war first began.

Customers will start noticing the T symbols on a small number of products, which will grow as tariffs are applied across more categories, Loblaw chief executive Per Bank wrote in a LinkedIn post on Tuesday.

"And one commitment is especially important: Loblaw will not benefit from tariffs," he said.

Read
Saturday, Aug. 29, 2026
A Scotiabank sign is shown on a shopping mall in Ottawa on Thursday, June 27, 2024. THE CANADIAN PRESS/Sean Kilpatrick

New U.S. tariffs and trade tensions are ‘manageable,’ says Scotiabank CEO

Daniel Johnson, The Canadian Press 5 minute read Preview

New U.S. tariffs and trade tensions are ‘manageable,’ says Scotiabank CEO

Daniel Johnson, The Canadian Press 5 minute read Saturday, Aug. 29, 2026

TORONTO - As Canadian businesses grapple with the latest flare up in U.S. trade tensions, executives at Scotiabank still see the trade situation as "manageable" for the domestic economy

"The fundamentals in Canada are pretty good, if you look at the job growth numbers, if you look at the fiscal capacity on the back of oil prices, and if you look at some of the activity that's starting because of the prime minister's agenda, you actually have a backdrop that's pretty good," Scotiabank chief executive Scott Thomson said on the bank's third-quarter earnings call on Tuesday.

U.S. President Donald Trump imposed 50 per cent tariffs on about $28 billion worth of Canadian products over the weekend after trade talks collapsed.

The federal government, meanwhile, announced Tuesday its own suite of retaliatory dollar-for-dollar tariffs on American goods, which are set to take effect Sept. 8. That includes upping tariffs on American steel and aluminum products from 25 to 50 per cent and imposing other levies on clothing, appliances, dairy products and more.

Read
Saturday, Aug. 29, 2026
Calgary-based jewelry maker Cindy Baldassi, whose business is among several across Canada that were hit by American tariffs on Saturday after trade talks between Canada and the United States failed the night before, is seen in an undated handout photo. THE CANADIAN PRESS/Handout - Jason S. Anderson (Mandatory Credit)

Small businesses at front lines of tariff war, as many lose sales

Fakiha Baig and Ritika Dubey, The Canadian Press 5 minute read Preview

Small businesses at front lines of tariff war, as many lose sales

Fakiha Baig and Ritika Dubey, The Canadian Press 5 minute read Tuesday, Aug. 25, 2026

Since the latest U.S. tariffs rolled in this past weekend, Bernard Hellen has been fielding order cancellations for 3D miniature models — all previously bound for his American clients.

"I've probably had about 50 order cancellations this morning alone," said Hellen, owner of Toronto-based Miniprints, which makes railroading hobby miniatures of animals and figurines.

For Hellen, Americans make up 85 per cent of his sales.

"A 50 per cent tax is more than the average American consumer can pay or is willing to pay," he said in a phone interview on Monday.

Read
Tuesday, Aug. 25, 2026
Marta Guerrero photo
                                Louise Plamondon, présidente du conseil d’administration de la Maison Gabrielle-Roy.
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Préserver à bout de bras

Hugo Beaucamp 7 minute read Preview
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Préserver à bout de bras

Hugo Beaucamp 7 minute read Saturday, Aug. 22, 2026

La Maison Gabrielle-Roy s’apprête à abattre trois ormes plantés devant le musée depuis 1905. Une décision prise à contrecœur pour assurer la sécurité du bâtiment et du voisinage, mais qui illustre surtout les défis financiers auxquels sont confrontés les petits organismes patrimoniaux, contraints de jongler entre entretien, programmation culturelle et ressources limitées.

Avec beaucoup de peine, la Maison Gabrielle-Roy va de l’avant pour faire abattre les trois ormes qui trônent devant le musée depuis plus d’un siècle.

Du fait de leur grand âge et de la météo difficile de ces derniers mois, c’est un peu dos au mur que le conseil d’administration a pris la décision de couper ces arbres.

Une décision jugée “très importante” par la présidente du CA Louise Plamondon.

Read
Saturday, Aug. 22, 2026

The common abuse of ‘common sense’

Alex Passey 5 minute read Wednesday, Aug. 19, 2026

If you spend any amount of time having deep conversations on sensitive subject matters, you will undoubtedly encounter patterns of thought and speech peppered into the discourse as if certain people were helpless but to utter them.

Perhaps you are trying to get to the heart of a complicated matter and the disagreement with your conversational partner starts to get a little heated. Often somebody will dust off the old diplomatic gem of “let’s agree to disagree” to extinguish further argument.

Or perhaps you are trying to console a grief-stricken person who has gone through a traumatic event. People in such a state will often rail against the state of the universe with powerful philosophical sentiments, demanding to know how such injustice could be permitted. You would not be the first person to misguidedly try to soothe them with something like “everything happens for a reason.” Or, less secularly, “God works in mysterious ways.”

These are known as thought-terminating clichés. Pithy little sayings that sound like folksy wisdom but serve mostly to sever a train of thinking, often because it is either uncomfortable or more complicated than the person is willing to engage. Admittedly, they often come from a good-natured place of keeping the peace, though it could easily be argued that they mostly serve to preserve to comfort or indulge the intellectual laziness of those who speak them.

Credit cards are displayed in Montreal, Wednesday, Dec. 12, 2012. THE CANADIAN PRESS/Ryan Remiorz
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Insolvencies jumped 11.5% annually in June, Canada’s bankruptcy monitor shows

Craig Lord, The Canadian Press 3 minute read Preview
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Insolvencies jumped 11.5% annually in June, Canada’s bankruptcy monitor shows

Craig Lord, The Canadian Press 3 minute read Friday, Sep. 4, 2026

OTTAWA - Insolvencies in Canada are floating around levels not seen since the global financial crisis more than 15 years ago, new data shows.

The Office of the Superintendent of Bankruptcies released updated figures on Monday showing 13,254 insolvencies were filed in June, up 5.7 per cent compared with May and 11.5 per cent from a year ago.

Consumers — who make up the bulk of insolvency filings — led the annual increase, though business filings were also on the rise year-over-year.

"While the data has been quite volatile over the past year, even on a seasonally-adjusted basis, insolvencies have been stabilizing at levels not seen since the Global Financial Crisis in 2009," said Charles St-Arnaud, chief economist at Servus Credit Union, in a note to clients this week.

Read
Friday, Sep. 4, 2026
An app screenshot for Wealthsimple is seen on a smartphone in a photo illustration made in Toronto, Monday, June 17, 2024. THE CANADIAN PRESS/Giordano Ciampini

Does Wealthsimple want to add sports, politics to its new prediction markets product?

Tara Deschamps, The Canadian Press 5 minute read Preview

Does Wealthsimple want to add sports, politics to its new prediction markets product?

Tara Deschamps, The Canadian Press 5 minute read Monday, Aug. 10, 2026

TORONTO - Wealthsimple’s newest product has given armchair economists and Canadians convinced they can predict Mother Nature a chance to put their skills to the test, but some say the business is likely after an even bigger audience.

The Toronto-based financial services company started offering prediction markets last month. The product lets customers make wagers of $1 or less on the outcome of economic, financial or climate matters like what will happen at the Bank of Canada's next interest rate announcement or how many major Atlantic hurricanes there will be this year.

But the first few weeks have some thinking Wealthsimple might have even bigger ambitions.

When Charles Martineau, an associate professor of finance at the University of Toronto, and Marius Zoican, the Canada Research Chair in financial technology, each logged onto Wealthsimple's Predict app, they found it displaying stakes in who will become the next James Bond, what the score will be at future football games and who will win the 2028 U.S. presidential election.

Read
Monday, Aug. 10, 2026
FILE - The Chat GPT app icon is seen on a smartphone screen, Aug. 4, 2025, in Chicago. (AP Photo/Kiichiro Sato, File)

Some US adults are using AI for financial guidance but few trust it, Gallup poll finds

Adriana Morga, The Associated Press 5 minute read Preview

Some US adults are using AI for financial guidance but few trust it, Gallup poll finds

Adriana Morga, The Associated Press 5 minute read Monday, Aug. 10, 2026

NEW YORK (AP) — Some U.S. adults are using artificial intelligence for financial guidance, but it’s far from the most trusted source of advice, according to a new Gallup survey conducted in partnership with Edward Jones, a financial services firm.

About 1 in 5 Americans who have sought financial advice in the past year turned to AI, the survey found. But among U.S. adults overall, only about 3 in 10 have “a great deal” or “some” confidence in its expertise for managing money, according to the survey, including just 3% who trust AI “a great deal.”

The poll, which was conducted in the spring and looked at the views of adults who are at least 21, found a disconnect between the resources Americans trust for financial advice and the ones they actually rely on. About 8 in 10 U.S. adults have at least “some” confidence in financial advisers. But only about one-third of U.S. adults who sought financial advice turned to a professional financial adviser, with far more, 73%, saying they relied on their own internet research.

As the use of AI increases, financial experts say consumers should be cautious about fully trusting these tools. Using AI as a tool at the start of a learning journey and then combining this knowledge with other trusted sources can be the best way to engage with new and traditional financial guidance tools, said Taha Choukhmane, associate professor at MIT’s Sloan School of Management.

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Monday, Aug. 10, 2026
Shopify Inc. headquarters signage in Ottawa on Tuesday, May 3, 2022. Shopify Inc. is a Canadian multinational e-commerce company.  THE CANADIAN PRESS/Sean Kilpatrick
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Shopify’s AI tools triple traffic, lift Q2 profits and revenue

Tara Deschamps, The Canadian Press 3 minute read Preview
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Shopify’s AI tools triple traffic, lift Q2 profits and revenue

Tara Deschamps, The Canadian Press 3 minute read Saturday, Aug. 29, 2026

Shoppers and retailers increasingly relying on artificial intelligence helped Shopify Inc. post a US$1.5 billion profit in its latest quarter, pushing its share price up by double-digits.

The e-commerce software giant reported the profit compared with US$906 million a year earlier. The second-quarter result sent Shopify's share price up nearly 17 per cent to close at $201.97.

President Harley Finkelstein said Shopify is fashioning itself to corner the "new era of commerce" being spurred by more people turning to AI to make and encourage purchases.

"Now, whether commerce is handled by humans or agents, whether stores are built by people or AI, Shopify runs underneath it all," he told analysts on a call Wednesday.

Read
Saturday, Aug. 29, 2026
Mike Deal / Free Press files
                                People take a break from sandbagging to protect properties in a flooded area of Swan River on July 2.

Insurance costs have been surging due to extreme weather brought on by climate change — and it’s likely to get more expensive

Joel Schlesinger 6 minute read Preview

Insurance costs have been surging due to extreme weather brought on by climate change — and it’s likely to get more expensive

Joel Schlesinger 6 minute read Saturday, Aug. 1, 2026

Floods, hail and wildfires are increasingly common features of North American summers.

Adding to collective dismay, these natural disasters are the common denominator behind sticker price shock for homeowners seeing insurance premiums jump higher annually.

“Home insurance has steadily been rising since 2019,” says Matt Hands, vice-president of insurance at Ratehub.ca.

A recent report from Statistics Canada shows home and mortgage insurance premiums have risen 45 per cent on average over the last six years. That is more than double overall inflation over that span.

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Saturday, Aug. 1, 2026
The produce section of a Toronto Loblaws is seen on Friday, May 3, 2024. THE CANADIAN PRESS/Chris Young
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Shoppers flock to the frozen aisle as fresh vegetable prices soar: Loblaw

Ritika Dubey, The Canadian Press 4 minute read Preview
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Shoppers flock to the frozen aisle as fresh vegetable prices soar: Loblaw

Ritika Dubey, The Canadian Press 4 minute read Friday, Aug. 21, 2026

Consumers are looking for savings in the frozen vegetable aisle at Loblaw banners as prices of fresh produce have spiked in recent months.

"It's more than (five percentage points) growth in the frozen veg in our hard discount banner," Loblaw Cos. Ltd. chief executive Per Bank told analysts on a second-quarter earnings call on Thursday. Hard discount largely refers to the company's No Frills and Maxi chains.

"Those customers who shop there, they are trying to mitigate their inflation."

Affordability continues to drive buying decisions as consumers contend with high gasoline and food prices.

Read
Friday, Aug. 21, 2026
FILE - Organic lettuce is displayed in Falls Church, Va., Saturday, March 11, 2017. (AP Photo/J. Scott Applewhite)

Between prices and a diarrhea-causing parasite, lettuce is causing hard times at some restaurants

Dee-ann Durbin, The Associated Press 5 minute read Preview

Between prices and a diarrhea-causing parasite, lettuce is causing hard times at some restaurants

Dee-ann Durbin, The Associated Press 5 minute read Sunday, Aug. 2, 2026

It’s been a choppy year for restaurants that lean into lettuce.

Lettuce prices rose sharply in the first half of 2026 due to hot weather in Arizona, where about one-third of America’s lettuce is grown. Now, restaurants are dealing with the fallout from a cyclospora outbreak linked to shredded lettuce that has sickened thousands of Americans.

Yum Brands, the parent company of Taco Bell, said Thursday that Taco Bell's U.S. same-store sales are down 2% so far in the July-September period due to customers' concerns over the outbreak. That compares to a 7% same-store sales increase in the April-June period.

Federal health officials first tied the diarrhea-causing outbreak to shredded iceberg lettuce served at Taco Bell restaurants in Indiana, Kentucky, Michigan, Ohio and West Virginia. Later, the U.S. Food and Drug Administration said customers in Illinois, Kansas, Oklahoma and Pennsylvania were also affected.

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Sunday, Aug. 2, 2026
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Bracket creep: A stealthy tax increase

Gage Haubrich 4 minute read Wednesday, Jul. 29, 2026

About $2,100. That’s how much Premier Wab Kinew’s bracket creep tax hike could cost your family by 2030, depending on how much you make.

Bracket creep is an income tax hike that happens when the government stops indexing tax brackets to inflation. That means that after getting a cost-of-living raise, taxpayers can be bumped into a new tax bracket and have their tax bill increased even though they can’t afford to buy more.

Think about it this way: A raise that only covers higher grocery prices isn’t a real raise. You’re not richer. Your cart costs the same. But the bigger number on your paycheque bumps you into a higher bracket. That means higher taxes on a paycheque that buys the exact same number of groceries as last year.

That’s why most provincial governments and the federal government adjust income tax brackets with inflation.

PEXELS

Banks seek to implement AI tools for customers … who love them until they don’t work

Joel Schlesinger 6 minute read Preview

Banks seek to implement AI tools for customers … who love them until they don’t work

Joel Schlesinger 6 minute read Saturday, Jul. 25, 2026

Few consumer-facing industries illustrate the potential and pitfalls of artificial intelligence more than the financial services sector.

Generative AI — the technology powering chatbots that can seemingly think and provide reasonably correct, if not insightful, answers to our questions — is arguably a wonder of the modern world.

The potential for providing financial advice is indeed palpable. Then again, it’s not hard to imagine the technology running amok especially with people’s money.

A recent report on digital banking services provides insight on the risks and opportunities.

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Saturday, Jul. 25, 2026
Canadian and American flags fly near the Ambassador Bridge at the Canada-USA border crossing in Windsor, Ont. on Saturday, March 21, 2020. THE CANADIAN PRESS/Rob Gurdebeke
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Tariffs threaten Canadian retailers and their U.S. sales — again

Tara Deschamps, The Canadian Press 4 minute read Preview
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Tariffs threaten Canadian retailers and their U.S. sales — again

Tara Deschamps, The Canadian Press 4 minute read Wednesday, Jul. 22, 2026

TORONTO - When customers in the United States place orders with Toronto jewelry company Suetables, Sue Henderson does something unconventional for a business owner: she asks them if they're really sure they want to make the purchase.

Henderson double checks because on-and-off again tariffs have driven up fees on products crossing the border.

"Just to give you an example, someone would order a $200 pair of earrings and click through saying yes, I'll pay the tariffs, yes, I'll pay the tariffs, yes, I'll pay the tariffs, but then the order would arrive to the concierge and you've got a $70 tariff on a $200 pair of earrings," Henderson said.

"They'd say, 'Well, I don't want them.'"

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Wednesday, Jul. 22, 2026
MIKE DEAL / FREE PRESS
                                Chris Sweryda is the manager of the Jason Schreyer Memorial Grocery Affordable Access Program, located at the Valour Community Centre, which is celebrating its one-year anniversary.
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Popular low-price grocery program celebrates first year

Malak Abas 5 minute read Preview
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Popular low-price grocery program celebrates first year

Malak Abas 5 minute read Friday, Jul. 17, 2026

When Audrey Foley runs out of food for her four cats, or struggles to pay for groceries for her and her mother, she turns to a community-managed store in her neighbourhood.

Her list contains the staples: bread, pasta, juice — all sold through the the Jason Schreyer Memorial Grocery Affordable Access Program, at prices far below what you’d find at a supermarket.

Foley said the program has made a substantial difference in her family’s ability to get by as the cost of living continues to rise.

“I would do without things if I had to,” Foley, 52, said Friday. “It’s very beneficial, overall, because the prices are very reasonable.”

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Friday, Jul. 17, 2026
A customer shops for produce at a FreshCo grocery store in Brampton, Ont., Friday, June 5, 2026. THE CANADIAN PRESS/Chris Young
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Bank of Canada says food inflation likely to remain high for rest of 2026

The Canadian Press 2 minute read Preview
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Bank of Canada says food inflation likely to remain high for rest of 2026

The Canadian Press 2 minute read Thursday, Jul. 16, 2026

OTTAWA - The Bank of Canada says food inflation is likely to remain high through the second half of the year as the war in Iran pushes the cost of fuel and farming higher.

In its monetary policy report, the central bank says higher energy prices will continue to weigh on the cost of fertilizer, which is highly dependent on natural gas, as well as other agricultural input costs.

Overall, the central bank is forecasting inflation will slow to 2.5 per cent over the second half of 2026, after hitting 3.2 per cent in May.

The central bank says its forecast for inflation is highly dependent on developments in the Middle East, and although oil prices have come down from their recent peak in April, they remain volatile as hostilities between the U.S. and Iran picked up again last weekend.

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Thursday, Jul. 16, 2026
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