Live news: CRA has now fired 185 employees for ‘inappropriately’ claiming CERB

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CRA has now fired 185 employees for ‘inappropriately’ claiming CERB

That’s an increase of 65 since the CRA last updated the public on its review in September.

The benefit was worth $2,000 a month to Canadians whose jobs were lost or downgraded as a result of public-health restrictions.

The CRA says that just because someone was employed by the agency, that does not necessarily mean they were ineligible for the benefit, given some have temporary or student contracts.

Of the cases reviewed, 116 employees who received CERB were found to be eligible for the benefit, and the CRA says those who were ineligible are expected to pay back the money if they have not already done so.

The Canadian Press

9:24 a.m.

Gildan shareholder revolt snowballs as another investor seeks ousted CEO’s return

A U.S. investment firm says it’s prepared to seek changes on the board at Gildan Activewear Inc. if the company does not reinstate Glenn Chamandy as chief executive.

In a letter to the board, Browning West also urged it to remove Donald Berg as chair and appoint Browning West co-founder Peter Lee as a shareholder representative.

Browning West says it will seek a special meeting of shareholders to replace the board if the company does not heed the feedback from it and other shareholders and will not hesitate to hold the board accountable for further delays in rectifying the situation.

In a letter to shareholders, Berg, along with the board’s committee chairs, wrote that the board’s trust and confidence in Chamandy had eroded as it worked to hold him accountable for delivering the next chapter of the company’s long-term growth.

The Canadian Press

7:30 a.m.

Canadians are flocking to Alberta

The migration is largely from Ontario and B.C., which have been experiencing a loss in population for more than a year. In contrast, interprovincial migration to Alberta has been rising by 10,000 or more people for five consecutive quarters — a first since such data began being recorded.

The main driver for the rise in the number of people is non-permanent immigration, which surged by 10,638 in the third quarter.

The news comes as Alberta shutters its Alberta Calling campaign, which the UCP government launched in August 2022 as a way to attract newcomers by boasting of “bigger paycheques” and “smaller rent cheques.”

A second round of the campaign was reintroduced in March before the announcement to end the program was made during a telephone town hall last week about the upcoming provincial budget, where Finance Minister Nate Horner called the campaign a success.

“We think Alberta called and many, many answered, but it has taken up a lot of the vacancies,” Horner said. “The housing market’s very tight.”

Hiren Mansukhani, Calgary Herald

Stock markets before the opening bell

Slower-than-expected inflation data from the U.K. “adds to the mounting evidence that global inflation has begun to crumble on a broader basis,” Christoph Rieger, head of rates research at Commerzbank, told Bloomberg.

British 10-year borrowing costs retreated as much as 11 basis points on bets the Bank of England would cut its rate next year. Treasury yields slid four basis points to 3.9 per cent, down more than 40 this month.

U.S. futures are in the red.

Bloomberg

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Additional reporting by The Canadian Press, Associated Press and Bloomberg