economy

Striking International Longshore and Warehouse Union Canada workers picket at a port entrance in Vancouver, B.C., Tuesday, July 4, 2023. The strike at more than 30 British Columbia ports entered its fifth day on Wednesday after 7,400 port workers walked off the job on the weekend. THE CANADIAN PRESS/Darryl Dyck

Port strike will have ‘dire’ effect on supply chain: BC Chamber of Commerce

President Fiona Famulak urges government action if strike, now in its fifth day, continues

Striking International Longshore and Warehouse Union Canada workers picket at a port entrance in Vancouver, B.C., Tuesday, July 4, 2023. The strike at more than 30 British Columbia ports entered its fifth day on Wednesday after 7,400 port workers walked off the job on the weekend. THE CANADIAN PRESS/Darryl Dyck
A truck carries a cargo container at the Port of Vancouver Centerm container terminal as others are stacked under gantry cranes, in Vancouver, on Friday, Oct. 14, 2022. The Canadian Chamber of Commerce says it is “deeply disturbed” by the strike notice the union for British Columbia’s port workers’ made that said its members were prepared to walk out on Saturday. THE CANADIAN PRESS/Darryl Dyck

Canadian Chamber of Commerce wants port strike averted, cites economy

Longshoremen prepared to walk out on Saturday

A truck carries a cargo container at the Port of Vancouver Centerm container terminal as others are stacked under gantry cranes, in Vancouver, on Friday, Oct. 14, 2022. The Canadian Chamber of Commerce says it is “deeply disturbed” by the strike notice the union for British Columbia’s port workers’ made that said its members were prepared to walk out on Saturday. THE CANADIAN PRESS/Darryl Dyck
Cargo containers are unloaded from the Maersk Stockholm ship with gantry cranes while docked at port, in Vancouver, on Tuesday, April 25, 2023. The Vancouver Fraser Port Authority says overall cargo volumes fell by three per cent last year, as the global economy began to show signs of a slowdown. Negotiators representing longshore workers and private companies are currently negotiated a new labour deal. (THE CANADIAN PRESS/Darryl Dyck)

Uncertain future for B.C. ports as longshoring strike or lockout looms

99% of the 7,200 workers represented by the longshore workers union voted in favour of strike

Cargo containers are unloaded from the Maersk Stockholm ship with gantry cranes while docked at port, in Vancouver, on Tuesday, April 25, 2023. The Vancouver Fraser Port Authority says overall cargo volumes fell by three per cent last year, as the global economy began to show signs of a slowdown. Negotiators representing longshore workers and private companies are currently negotiated a new labour deal. (THE CANADIAN PRESS/Darryl Dyck)
Fiona Famulak, president and CEO of the BC Chamber of Commerce, says the growing frequency of natural disasters like wildfires requires new forms of government assistance for business. (Photo courtesy of BC Wildfire Service)

B.C. Chamber CEO calls for urgent reforms to disaster assistance programs

Plans for helping businesses following natural disasters ‘developed for a different time’

Fiona Famulak, president and CEO of the BC Chamber of Commerce, says the growing frequency of natural disasters like wildfires requires new forms of government assistance for business. (Photo courtesy of BC Wildfire Service)
B.C. Premier David Eby, here seen in April, says Canada’s first renewable diesel and hydrogen complex in Prince George will open opportunities for northern B.C. and the province as a whole. (THE CANADIAN PRESS/Darryl Dyck)

Canada’s first renewable diesel and hydrogen complex to open in Prince George

Premier David Eby, Prince George Mayor Tim Yu praise historic investment of $380 million

B.C. Premier David Eby, here seen in April, says Canada’s first renewable diesel and hydrogen complex in Prince George will open opportunities for northern B.C. and the province as a whole. (THE CANADIAN PRESS/Darryl Dyck)
B.C. will need more renewable power sooner than expected, prompting an historic call for power by the provincial Crown corporation supplying almost all British Columbians with electricity. (Photo courtesy of BC Hydro)

Electricity demand in B.C. expected to increase by 15% by 2030

BC Hydro puts out call for new sources of renewable, emission-free power

B.C. will need more renewable power sooner than expected, prompting an historic call for power by the provincial Crown corporation supplying almost all British Columbians with electricity. (Photo courtesy of BC Hydro)
Rapid population growth is challenging economists’ understanding of the economy as they monitor how businesses and consumers are responding to high interest rates. Crowds attend the Canadian Tulip Festival at Commissioners Park in Ottawa, on Saturday, May 13, 2023. THE CANADIAN PRESS/Justin Tang

How population growth is affecting everything from jobs to housing in the economy

Canadian economy is outperforming expectations so far in 2023

Rapid population growth is challenging economists’ understanding of the economy as they monitor how businesses and consumers are responding to high interest rates. Crowds attend the Canadian Tulip Festival at Commissioners Park in Ottawa, on Saturday, May 13, 2023. THE CANADIAN PRESS/Justin Tang
The beaches of Vancouver Island’s West Coast have been hard to reach recently due to a wildfire blocking the main highway access. (John Mckinley file photo)

B.C. tourism leader predicts strong tourism season if fires are doused

J.J Belanger said most travellers are pragmatic, but long-term challenges also lie ahead

The beaches of Vancouver Island’s West Coast have been hard to reach recently due to a wildfire blocking the main highway access. (John Mckinley file photo)
People pass the Bank of Canada building on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada raised its benchmark interest by 25 basis points to 4.75 per cent Wednesday, June 7, 2023– the highest point in more than two decades. THE CANADIAN PRESS/Justin Tang

Bank of Canada’s interest rate hike a ‘mistake,’ says B.C. economist

Marc Lee fears the rate hike will not fight inflation, but actually make it worse

People pass the Bank of Canada building on Wellington Street in Ottawa, on Tuesday, May 31, 2022. The Bank of Canada raised its benchmark interest by 25 basis points to 4.75 per cent Wednesday, June 7, 2023– the highest point in more than two decades. THE CANADIAN PRESS/Justin Tang
Premier David Eby said concerns about security and changing environmental norms in Asia promise significant opportunities for British Columbia. (Photo: THE CANADIAN PRESS/Chad Hipolito)

Premier David Eby brings home promises of economic opportunity from Asia trip

Japan and South Korea ‘feel a huge level of urgency’ around energy, critical minerals, Eby says

Premier David Eby said concerns about security and changing environmental norms in Asia promise significant opportunities for British Columbia. (Photo: THE CANADIAN PRESS/Chad Hipolito)
FILE - Employees walk through a lobby at Amazon's headquarters on Nov. 13, 2018, in Seattle. A group of Amazon workers upset about recent layoffs, a return-to-office mandate and the company's environmental impact is planning a walkout at its Seattle headquarters Wednesday. (AP Photo/Elaine Thompson, File)

Corporate Amazon workers protest company’s climate impact and return-to-office mandate in walkout

Telling executives to “strive harder,” hundreds of corporate Amazon workers protested what…

FILE - Employees walk through a lobby at Amazon's headquarters on Nov. 13, 2018, in Seattle. A group of Amazon workers upset about recent layoffs, a return-to-office mandate and the company's environmental impact is planning a walkout at its Seattle headquarters Wednesday. (AP Photo/Elaine Thompson, File)
Signage marks the Statistics Canada offices in Ottawa on July 21, 2010. Statistics Canada is set to release its gross domestic product figures for the month of March, as well as the first quarter of the year.THE CANADIAN PRESS/Sean Kilpatrick

Canada’s economy continues to outperform, raising odds of rate hike next week

The Canadian economy grew faster than expected in the first three months…

Signage marks the Statistics Canada offices in Ottawa on July 21, 2010. Statistics Canada is set to release its gross domestic product figures for the month of March, as well as the first quarter of the year.THE CANADIAN PRESS/Sean Kilpatrick
Grocery clerks and food service staff will be among the 150,000 British Columbians getting a pay raise when the minimum wage increases on June 1 to to $16.75 from $15.65. (Contributed)

B.C.’s minimum wage to go up to $16.75 on June 1

Prominent labour economist Jim Stanford defends scheduled increase among cost concerns

Grocery clerks and food service staff will be among the 150,000 British Columbians getting a pay raise when the minimum wage increases on June 1 to to $16.75 from $15.65. (Contributed)
E-bikes, here seen at Vernon’s Sun Country Cycle, will be subject to a new provincial rebate program June 1. Some eligible British Columbians could get up to $1,400 off their next e-bike purchase. (Contributed)

New provincial program rings up to $1,400 in rebates for e-bikes

Most British Columbians, however, will only be eligible for $350 rebate

E-bikes, here seen at Vernon’s Sun Country Cycle, will be subject to a new provincial rebate program June 1. Some eligible British Columbians could get up to $1,400 off their next e-bike purchase. (Contributed)
The ChatGPT app is displayed on an iPhone in New York, Thursday, May 18, 2023. Premier David Eby acknowledged concerns around AI, but sees more light than shadow when it comes to the effects of artificial intelligence. (THE CANADIAN PRESS/AP, Richard Drew)

AI opens up ‘incredible opportunities’ for B.C.: Eby

He acknowledged AI’s potential for ‘disruption’ as BC Greens calls for AI task force

The ChatGPT app is displayed on an iPhone in New York, Thursday, May 18, 2023. Premier David Eby acknowledged concerns around AI, but sees more light than shadow when it comes to the effects of artificial intelligence. (THE CANADIAN PRESS/AP, Richard Drew)
B.C. Premier David Eby talks with the media in Langford on May 25 alongside NDP candidate for the Langford-Juan de Fuca byelection Ravi Parmar. Eby will lead a trade delegation to Asia starting May 27. (Bailey Moreton/News Staff)

Eby says Asia trade mission a way to ‘protect’ B.C. from geopolitical tensions

Stops on trade tour include Japan, South Korea and Singapore

B.C. Premier David Eby talks with the media in Langford on May 25 alongside NDP candidate for the Langford-Juan de Fuca byelection Ravi Parmar. Eby will lead a trade delegation to Asia starting May 27. (Bailey Moreton/News Staff)
An AbCellera Biologics Inc. scientist pipettes cell culture reagents in a biosafety cabinet at an AbCellera laboratory. The company plans an expansion of its Vancouver facilities with a total cost of $701 million with Ottawa and Victoria putting $300 million toward the project. B.C.’s share is $75 million. (THE CANADIAN PRESS/HO, AbCellera Biologics Inc.)

Vancouver biotech company plans $701M expansion, with $300M coming from government

AbCellera recognized globally in 2020 when it launched the first antibody trial to fight COVID-19

An AbCellera Biologics Inc. scientist pipettes cell culture reagents in a biosafety cabinet at an AbCellera laboratory. The company plans an expansion of its Vancouver facilities with a total cost of $701 million with Ottawa and Victoria putting $300 million toward the project. B.C.’s share is $75 million. (THE CANADIAN PRESS/HO, AbCellera Biologics Inc.)
A new report from Moody’s Investor Service gives B.C. the best possible credit rating, but also warns of higher costs connected to fires and floods. (THE CANADIAN PRESS/HO-BC Wildfire Service)

B.C. maintains top AAA credit rating in latest assessment

But Moody’s also warns of higher costs connected to climate change and trade interruptions

A new report from Moody’s Investor Service gives B.C. the best possible credit rating, but also warns of higher costs connected to fires and floods. (THE CANADIAN PRESS/HO-BC Wildfire Service)
Seaspan’s Victoria Shipyards operates within the federally-owned Esquimalt Graving Dock. The company has welcomed new funding to improve B.C.’s maritime infrastructure. (Photo courtesy of Seaspan).

B.C. announces $25M to shore up marine infrastructure

New Maritime Industries Strategy looks to modernize, reduce carbon emissions

Seaspan’s Victoria Shipyards operates within the federally-owned Esquimalt Graving Dock. The company has welcomed new funding to improve B.C.’s maritime infrastructure. (Photo courtesy of Seaspan).
British Columbia, which opened a new trade office in Vietnam’s Binh Duong province to promote wood products in 2022, has identified Vietnam along with Mexico and Taiwan as new valuable markets under the Trade Diversification Strategy. (Photo courtesy of Government of British Columbia)

Chamber applauds B.C.’s new trade strategy with Mexico, Vietnam and Taiwan

B.C. set to open trade offices in Taiwan and Mexico

British Columbia, which opened a new trade office in Vietnam’s Binh Duong province to promote wood products in 2022, has identified Vietnam along with Mexico and Taiwan as new valuable markets under the Trade Diversification Strategy. (Photo courtesy of Government of British Columbia)