BREAKING Ontario's 'crypto king' Aiden Pleterski arrested
Aiden Pleterski, the self-proclaimed 'crypto king' from Whitby, Ont., has been arrested in Durham Region after allegedly running a Ponzi scheme worth more than $40 million.
Canadian retail sales fell 1.4 per cent to $65.3 billion in March as sales at gas stations and new car dealers declined, Statistics Canada said Friday.
However, the agency said its early estimate for April pointed to a gain of 0.2 per cent for that month, though it cautioned the figure would be revised.
"While March's decline in retail sales was no worse than anticipated, and was driven largely by volatility in auto and gasoline sales, slight cracks are starting to show within Canadian consumer spending," CIBC senior economist Andrew Grantham wrote in a report.
"Although spending on services is likely to have held up better, a softening trend in retail sales volumes towards the end of Q1 is a sign that perhaps the Bank of Canada simply needs more patience, rather than more interest rate hikes, in its quest to bring inflation back down to target."
The Bank of Canada kept its key interest rate target on hold at 4.5 per cent last month, but the central bank's governing council did consider raising it in their deliberations before deciding to stand pat.
Governor Tiff Macklem has said the bank is prepared to raise rates further if signs showed inflation is likely to get stuck above its two per cent target.
The annual inflation rate for April was 4.4 per cent, up from 4.3 per cent in March and the first increase since it peaked last June at 8.1 per cent.
Statistics Canada said Friday retail sales rose in five of the nine subsectors it tracks as core retail sales -- which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers -- rose 0.3 per cent in March.
Sales at motor vehicle and parts dealers dropped 4.4 per cent in March, their first decline in eight months as sales at new car dealers fell 4.8 per cent.
Sales at gasoline stations and fuel vendors were down 3.9 per cent.
Meanwhile, sales at building material and garden equipment and supplies dealers rose 1.6 per cent and sales at sporting goods, hobby, musical instrument, book, and miscellaneous retailers gained 1.6 per cent.
In volume terms, Statistics Canada says retail sales fell 1.0 per cent in March.
This report by The Canadian Press was first published May 19, 2023.
Aiden Pleterski, the self-proclaimed 'crypto king' from Whitby, Ont., has been arrested in Durham Region after allegedly running a Ponzi scheme worth more than $40 million.
Slovakia's populist Prime Minister Robert Fico is in life-threatening condition after being wounded in a shooting after a political event Wednesday afternoon, according to his Facebook profile.
A barge hit a bridge in Galveston, Texas, on Wednesday, spilling oil into surrounding waters and closing the only road to a small island, officials said.
Halifax Regional Police believe a non-resident could be responsible for the infamous drugging of numerous crew members of the 'Titanic' movie with a hallucinogenic in 1996.
Thousands of people in Western Canada remain displaced from their homes as wildfires threaten their communities, triggering evacuation orders and alerts.
Regaining your focus requires you to be mindful of how you are using technology -- a daunting task if you consider the average American spends at least 10 hours a day on screens.
The first time Marcelle Hutchins sat down to meditate, she put on a guided session, relaxed her shoulders and tried to close her eyes. She lasted two minutes.
A Quebec judge has rejected McGill University's request for an injunction to remove the pro-Palestinian encampment on the university's campus in downtown Montreal.
The federal government says it has reached a deal with Canadian National Railway Company to acquire the historic Quebec Bridge.
When Adam Kirschner wrote 'Slap Shot,' he never imagined the song would be embraced by his favourite team.
A team is ready to help an entangled North Atlantic right whale in the Gulf of St. Lawrence.
A $200 reward is being offered by a North Vancouver family for the safe return of their beloved chicken, Snowflake.
Two daughters and a mother were reunited online 40 years later thanks to a DNA kit and a Zoom connection despite living on three separate continents and speaking different languages.
Mother's Day can be a difficult occasion for those who have lost or are estranged from their mom.
YES Theatre Young Company opened its acclaimed kids’ show, One Small Step, at Sudbury Theatre Centre on Saturday.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.