Shocked by the price at the pumps? The cost of your next flight might skyrocket, too
We’ve all been doing a double-take at the gas station lately.
But as you come to terms with some prices exceeding even $2 a litre, you should brace yourself for the cost of flights to go up, too.
Experts say air travellers should expect sticker shock soon.
The cost of jet fuel is subject to the same forces that have caused gasoline prices to rise to their highest in years.
Jet fuel is one of the biggest costs that airlines bear, so experts say that surge will affect the price that travellers pay to fly, if it hasn’t already. Read more
A business jet is refuelled at the Las Vegas airport in this file photo. (David Becker/Reuters)
She called out TD Bank for charging her for donating to Ukraine aid efforts. It made a big difference
Krystyne Rusek, who is Ukrainian-Canadian, is questioning TD Bank after she was charged — then later reimbursed — a $50 fee for donating to Ukrainian relief efforts several days after Russia invaded the country.
Rusek says she went to her local TD branch on March 1 to contribute $1,600 to a special fund set up by the Ukrainian government.
Her donation, and those of other Canadians supporting the fund, were being collected by a downtown Toronto BMO branch before being transferred to the National Bank of Ukraine, the central bank, and then sent to the Ukrainian Armed Forces.
After arranging the transaction, the TD teller told Rusek she had to pay a $50 wire transfer fee — the standard charge for customers sending a wire payment from a TD branch to a non-TD account in Canada or abroad.
“I paid it and I wasn’t upset about it,” Rusek told CBC Toronto. “But the next day, I started to think about it and realized that this was not right.”
After writing an email expressing her concerns to TD the day after making her donation, she was told two days later — after CBC News approached the bank about the situation — that she would be reimbursed.
Now, TD says it will waive all fees for wire transfers to Ukraine, and reimburse those, like Rusek, who were initially charged for their donations. All other major Canadian banks say they will waive fees, too. Read more
Krystyne Rusek of Toronto donated $1,600 to a special fund set up by the Ukrainian government to support the country’s military as it fights off a Russian invasion. Initially, TD Bank charged her a fee, but later reimbursed her. (Spencer Gallichan-Lowe/CBC )
After a credit report mix-up, these newlyweds say they’ve lost their window to buy a house
There’s no shortage of signs the housing market has gotten a little out of hand over the past few years.
The average house price in Canada is at an all-time high, and as any prospective buyer knows, the difference between a successful and failed bid on a home can often boil down to something as simple as timing.
Jessica Rochon and her wife, Alison Holmes, learned this the hard way, after being denied a mortgage pre-approval because of someone else’s bad credit — a woman with almost the same name as Rochon, who lives a province away, in Quebec.
The two Rochons are not related and have never met, but their Equifax credit history appears to have been mixed into one file, causing financial problems — and a lot of headaches — for the Rochon in Ottawa.
Following a Go Public inquiry, Equifax fixed the problem, but Rochon and Holmes say it’s now too late — they’ve been priced out of buying the kind of house they wanted. Read more
Jessica Rochon, right, and her wife, Alison Holmes, say they are now priced out of buying a house in Ottawa, after Rochon was denied a mortgage because of errors on her Equifax credit report. (Sylvain LePage/CBC)
Are organic fruits and vegetables your first choice when you visit the grocery store? We want to hear from you. Send us an email telling us why organic is your go-to at marketplace@cbc.ca.
Do you get regular phone calls claiming there’s a package being detained for you by Canadian authorities? Or demanding you owe money in unpaid taxes? Maybe someone claiming you’ve got a virus and need tech support? If so, we want to hear from you! Send us your name and phone number and we may get in touch with you. Email us at marketplace@cbc.ca.
Catch up on past episodes of Marketplace on CBC Gem.
TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.
The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.
The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.
Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.
Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.
Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.
This report by The Canadian Press was first published Sept. 19, 2024.
Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.
The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.
As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.
TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.
TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.
This report by The Canadian Press was first published Sept. 19, 2024.
