Increased debt a heavy burden on Albertans

Survey shows 38% of Albertans say they spend all of or more than their net pay

Increased debt a heavy burden on AlbertansAn increased level of debt is placing a heavy burden on Albertans. A survey released on Wednesday by the Canadian Payroll Association says 44 per cent of Albertans are living paycheque to paycheque and 43 per cent say they are overwhelmed by debt. It also said 60 per cent of Albertans expect their local economy…

Crescent Point Energy cutting 17% of its workforce

‘Our plan is designed to ensure we become a more focused and efficient company with a stronger balance sheet,’ says new CEO

Crescent Point Energy cutting 17% of its workforceCalgary-based energy company Crescent Point Energy has appointed a new president and chief executive officer, and plans to immediately reduce its workforce by 17 per cent. On Wednesday, the company announced the appointment of Craig Bryksa as president and CEO, as well as the adoption of “a new clearly defined transition plan with measurable deliverables.”…

Higher oil prices lead to lower merchandise trade deficit

The surprise reduction in the trade deficit because of higher oil prices actually masked more negative news for the Canadian economy

Higher oil prices lead to lower merchandise trade deficitCanada's merchandise trade deficit with the world narrowed from $743 million in June to $114 million in July, the smallest deficit since the most recent surplus in December 2016, says Statistics Canada. The federal agency said on Wednesday that total exports rose 0.8 per cent, mainly on higher crude oil prices, while total imports declined…

‘A true disruptor:’ Indochino changing the menswear landscape

Drew Green is ‘creating a superior alternative to off-the-rack clothing at ready-to-wear prices’

‘A true disruptor:’ Indochino changing the menswear landscapeDrew Green is president and CEO of Indochino. Calgary’s Business: How did Indochino get started? Green: Indochino has been built at scale, based on the belief that consumers don't need to spend a fortune on a custom wardrobe. We took the premium made-to-measure experience direct to the consumer, creating a superior alternative to off-the-rack clothing…

Calgary Chamber announces finalists for Small Business Awards

‘Over 200 applications across the award categories, with the entire business community represented’

Calgary Chamber announces finalists for Small Business AwardsFinalists for Calgary’s  2018 Small Business Week Calgary Awards have been announced by the Calgary Chamber. “This year we received over 200 applications across the award categories, with the entire business community represented. The Small Business Week Awards are a way to acknowledge the significant contribution the business community makes to our economy,” said Sandip…

Calgary’s housing market recovery still sluggish

Persistent oversupply continued to weigh on prices in August, CREB says

Calgary’s housing market recovery still sluggishThe Calgary Real Estate Board says easing sales, gains in new listings and elevated inventory levels continue to slow Calgary’s recovery in the housing market in August. The board, in releasing its MLS stats for August, said on Tuesday that persistent oversupply in the Calgary housing market continued to weigh on prices in August. “Calgary’s employment…

Workplace safety initiative launched ahead of cannabis legalization

Calgary-based company Cannabis Learning Series urging employers to be prepared

Workplace safety initiative launched ahead of cannabis legalizationA Calgary-based company is promoting a workplace safety campaign  in response to cannabis legalization, which comes into effect on Oct. 17. The Cannabis Learning Series, a workplace safety education initiative, is urging employers to focus on prevention and awareness in the midst of uncertainty from cannabis legalization. “With the legalization of recreational cannabis getting closer, it’s…

Alberta lags in residential construction investment

National spending grew by 7.8% from the second quarter of 2017 to $36 billion: StatsCan

Alberta lags in residential construction investmentOntario, Quebec and British Columbia led the charge nationally in investment for residential construction during the second quarter of this year while Alberta took an opposite direction. New data released Tuesday by Statistics Canada showed that investment in Canada grew by 7.8 per cent from the second quarter of 2017 to $36 billion. Ontario and…

Arlene Dickinson’s vision of Alberta’s economic future

‘To create an economy that’s not boom and bust, we need to begin building on our expertise in agriculture and health sciences’

Arlene Dickinson’s vision of Alberta’s economic futureArlene Dickinson is president and CEO of Venture Communications and president and CEO of  District Ventures Capital. Calgary’s Business: What would you say are the key things that separate a successful entrepreneur from those who fail? Dickinson: I think successful entrepreneurs not only have vision, but the determination to see their vision through. Those who…

Alberta deficit $1 billion lower than first forecast

Oil prices, energy activity and exports have strengthened more than expected, government says. But the 2018-2019 deficit is still expected to be $7.8 billion

Alberta deficit $1 billion lower than first forecastThe Alberta government announced on Friday that the 2018-2019 deficit is now forecast at $7.8 billion, $1 billion lower than what was originally expected. In the Treasury Board and Finance Department first-quarter fiscal update for 2018-2019, the government said Alberta’s economic growth is recovering as expected. “The Alberta Activity Index is now above its pre-recession…