Economic Archives - constructconnect.com аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023's construction news Thu, 12 Sep 2024 13:47:50 +0000 en-US hourly 1 https://cc-production-uploads-bucket.s3.amazonaws.com/uploads/2021/10/cropped-favicon-32x32-1-32x32.png Economic Archives - constructconnect.com 32 32 High borrowing costs, record condo completions lead to oversupply in Greater Toronto /dcn/news/economic/2024/09/high-borrowing-costs-record-condo-completions-lead-to-oversupply-in-greater-toronto /dcn/news/economic/2024/09/high-borrowing-costs-record-condo-completions-lead-to-oversupply-in-greater-toronto#respond Fri, 13 Sep 2024 08:45:55 +0000 /?p=392917 TORONTO—Greater Toronto Area-real estate watchers say the combination of high interest rates and an uptick in new condo units coming online has led to an oversupply that will take time to balance out. A report by TD economist Rishi Sondhi said sales activity hasn’t been absorbing supply fast enough, with July condo resales in the […]

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]]> /dcn/news/economic/2024/09/high-borrowing-costs-record-condo-completions-lead-to-oversupply-in-greater-toronto/feed 0 Rent increases in smaller markets outweigh declines in big cities in August: report /dcn/news/economic/2024/09/rent-increases-in-smaller-markets-outweigh-declines-in-big-cities-in-august-report /dcn/news/economic/2024/09/rent-increases-in-smaller-markets-outweigh-declines-in-big-cities-in-august-report#respond Fri, 13 Sep 2024 08:30:26 +0000 /?p=392900 TORONTO —A new report says August rental rates fell in some of аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023’s largest and priciest markets to continue a months-long trend, while prices rose in smaller markets. The report from Rentals.ca and Urbanation finds the average Vancouver rental rate was down six per cent from last year to $3,116 for the ninth straight month […]

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]]> /dcn/news/economic/2024/09/rent-increases-in-smaller-markets-outweigh-declines-in-big-cities-in-august-report/feed 0 Bird named among the top 30 companies on the TSX in 2024 /dcn/news/economic/2024/09/bird-named-among-the-top-30-companies-on-the-tsx-in-2024 /dcn/news/economic/2024/09/bird-named-among-the-top-30-companies-on-the-tsx-in-2024#respond Fri, 13 Sep 2024 08:15:04 +0000 /?p=392893 MISSISSAUGA, ONT.—Bird Construction Inc. has been recognized as a 2024 TSX30 winner by the Toronto Stock Exchange and has been named among the top 30 companies on the TSX this year. On Sept. 6, an announcement by S&P/Dow Jones Indices said Bird’s common shares will be added to the S&P/TSX Composite Index effective prior to […]

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]]> /dcn/news/economic/2024/09/bird-named-among-the-top-30-companies-on-the-tsx-in-2024/feed 0 Jeff Kinnaird named president of Peak Group /joc/news/economic/2024/09/jeff-kinnaird-named-president-of-peak-group /joc/news/economic/2024/09/jeff-kinnaird-named-president-of-peak-group#respond Fri, 13 Sep 2024 05:00:19 +0000 /?p=392929 RICHMOND, B.C. – The Peak Group of companies, which supplies more than 2,000 Home Deport stores across North America with renovation products, has announced Jeff Kinnaird will be its new president and CEO effective Oct. 1. Previously Kinnaird was the executive vie-president of merchandising for Home Depot and president of Home Depot аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023. Kinnaird will […]

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]]> /joc/news/economic/2024/09/jeff-kinnaird-named-president-of-peak-group/feed 0 As for the economy, there’s an elephant and a donkey in the room /dcn/news/economic/2024/09/as-for-the-economy-theres-an-elephant-and-a-donkey-in-the-room /dcn/news/economic/2024/09/as-for-the-economy-theres-an-elephant-and-a-donkey-in-the-room#respond Thu, 12 Sep 2024 10:45:33 +0000 /?p=392865 As summer ends and fall approaches, when it comes to the economy, there’s not only an elephant in the room but also a donkey. I’m speaking of the GOP and the Democrats, of course, as the November 5 Presidential election looms. It’s not so much the case that no one is talking about the election. […]

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]]> /dcn/news/economic/2024/09/as-for-the-economy-theres-an-elephant-and-a-donkey-in-the-room/feed 0 Investors continue to demonstrate confidence in multi-suite residential and industrial sectors /dcn/news/economic/2024/09/investors-continue-to-demonstrate-confidence-in-multi-suite-residential-and-industrial-sectors /dcn/news/economic/2024/09/investors-continue-to-demonstrate-confidence-in-multi-suite-residential-and-industrial-sectors#respond Thu, 12 Sep 2024 09:30:09 +0000 /?p=392633 MISSISSAUGA, ONT.—According to Morguard’s 2024 Economic Outlook and Market Fundamentals Second Quarter Update, the Canadian commercial real estate sector showed positive momentum in the second quarter, the multi-suite residential rental property investment remained largely stable due to healthy fundamentals and there was a surge in industrial investment property transactions. In terms of the rest of […]

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]]> /dcn/news/economic/2024/09/investors-continue-to-demonstrate-confidence-in-multi-suite-residential-and-industrial-sectors/feed 0 PCL announces promotions in offices across аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023 /dcn/news/economic/2024/09/pcl-announces-promotions-in-offices-across-canada /dcn/news/economic/2024/09/pcl-announces-promotions-in-offices-across-canada#respond Wed, 11 Sep 2024 05:00:11 +0000 /?p=392658 PCL Construction is making leadership changes in five of its Canadian districts. Geoff Howe has been promoted to senior vice-president and district manager for its Toronto office, assuming overall responsibilities for PCL’s operations in the Greater Toronto Area and southwestern Ontario. Howe succeeds Marc Pascoli who has been promoted to regional vice-president with oversight of PCL’s Toronto area […]

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]]> /dcn/news/economic/2024/09/pcl-announces-promotions-in-offices-across-canada/feed 0 аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023 launches legal challenges of U.S. softwood lumber duty increases /dcn/news/government/2024/09/canada-launches-legal-challenges-of-u-s-softwood-lumber-duty-increases /dcn/news/government/2024/09/canada-launches-legal-challenges-of-u-s-softwood-lumber-duty-increases#respond Tue, 10 Sep 2024 15:24:45 +0000 /?p=392723 OTTAWA – The federal government says аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023 will challenge recent increases to softwood lumber duties by the United States. International Trade Minister Mary Ng says аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023 has taken steps to launch two legal challenges under the аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023-United States-Mexico Agreement. Ng describes the duties as unfair and unjust and says they will harm Canadian industry and […]

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]]> /dcn/news/government/2024/09/canada-launches-legal-challenges-of-u-s-softwood-lumber-duty-increases/feed 0 Transport Futures panellists warn of transit project cost ‘crisis’ /dcn/news/economic/2024/09/transport-futures-panellists-warn-of-transit-project-cost-crisis /dcn/news/economic/2024/09/transport-futures-panellists-warn-of-transit-project-cost-crisis#respond Tue, 10 Sep 2024 12:57:04 +0000 /?p=392686 Transportation cost experts delivered a withering critique of аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023’s performance in delivering major transit projects during a recent Toronto transit summit, with one speaker suggesting the city’s former reputation for delivering major builds on time and on budget is long lost. Criticisms ranged from over-designed projects and rigidity in the workforce to lack of standardization […]

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]]> /dcn/news/economic/2024/09/transport-futures-panellists-warn-of-transit-project-cost-crisis/feed 0 Global Market Scan: The spillover from tumultuous times in China’s steel industry /dcn/news/economic/2024/09/global-market-scan-the-spillover-from-tumultuous-times-in-chinas-steel-industry /dcn/news/economic/2024/09/global-market-scan-the-spillover-from-tumultuous-times-in-chinas-steel-industry#respond Tue, 10 Sep 2024 09:00:40 +0000 /?p=392580 The ongoing decline in steel rebar prices globally points to underlying issues within the construction industry internationally. Key factors behind the price decrease include unbalanced supply and demand and a slowdown in China’s economic growth. China is the largest producer and consumer of steel worldwide, playing a critical role in the commodity’s global markets. Currently, […]

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]]> /dcn/news/economic/2024/09/global-market-scan-the-spillover-from-tumultuous-times-in-chinas-steel-industry/feed 0 Steelworkers praise steel, EV tariffs on China /dcn/news/labour/2024/09/steelworkers-praise-steel-ev-tariffs-on-china /dcn/news/labour/2024/09/steelworkers-praise-steel-ev-tariffs-on-china#respond Tue, 10 Sep 2024 05:00:46 +0000 /?p=392379 TORONTO – The United Steelworkers union (USW) has released a statement praising the Aug. 26 announcement by the federal government to impose tariffs on imports of steel, aluminum and electric vehicles from China. “We are pleased to see the federal government taking a more assertive role to support high-quality jobs here in аÄÃÅÁùºÏ²Ê¿ª½±½á¹û2023 and create […]

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]]> /dcn/news/labour/2024/09/steelworkers-praise-steel-ev-tariffs-on-china/feed 0 Pembina Gas Infrastructure signs $400M deal to buy midstream assets from Veren /joc/news/economic/2024/09/pembina-gas-infrastructure-signs-400m-deal-to-buy-midstream-assets-from-veren /joc/news/economic/2024/09/pembina-gas-infrastructure-signs-400m-deal-to-buy-midstream-assets-from-veren#respond Mon, 09 Sep 2024 21:02:32 +0000 /?p=392655 Pembina Gas Infrastructure Inc. has signed a deal to buy a group of infrastructure assets from Veren Inc. for $400 million. Under the agreement, PGI — a Western Canadian gas processing company jointly owned by Pembina Pipeline Corp. and private equity firm KKR — will acquire four oil batteries in the Gold Creek and Karr areas of the […]

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