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Airlines see $1.7-billion go up in smoke

More than 100,000 flights were cancelled this week around the globe as volcanic ash from an eruption in Iceland turned much of Europe into a no-fly zone. Airlines say they lost at least $1.7-billion in revenue, but the economic impact of the volcano also was felt by shipping companies, the hospitality industry and tourism destinations. Canada’s economy will grow the fastest among Group of Seven countries in 2010 and 2011, expanding 3.1% and 3.2%, according to the International Monetary Fund in its World Economic Outlook report. “Canada entered the global crisis in good shape, and thus the exit strategy appears less challenging than elsewhere,” the report said.

Canada growth estimates up

Economists are boosting forecasts for Canada’s economic growth after a string of stronger-than-expected reports, calling for 4.6% growth (on an annualized basis) in the first quarter, a full percentage higher than previous estimates, based on strength in manufacturing and wholesale trade as well as retail sales. The number of Canadians collecting Employment Insurance benefits

Autos drive wholesale recovery

Wholesale trade in Canada surged 3% in January to $44.4-billion, the strongest increase in three years, led by autos, which advanced for the fourth month. U.S. venture capital may return to Canada as a result of ... read more