Business
Canadian business insolvencies up 37.2% in 2022, consumer insolvencies up 11.2%

The number of insolvencies filed by Canadian businesses in 2022 was up 37.2 per cent compared with 2021.
The Office of the Superintendent of Bankruptcy says there were 3,402 business insolvencies last year, up from 2,480 in 2021.
Business bankruptcies totalled 2,621 for the year, up from 1,942, while proposals filed by businesses amounted to 781, up from 538 in 2021.
The federal regulator says the sectors that saw the biggest increase in insolvencies were accommodation and food services businesses and the construction industry. The sectors that saw the biggest drop were mining and oil and gas extraction, and finance and insurance.
Insolvency filings by consumers in 2022 totalled 100,184, up 11.2 per cent from 90,092 in 2021.
The consumer figures included 24,586 bankruptcies, down from 27,461 in the previous year, while proposals rose to 75,598 compared with 62,631 in 2021.
This report by The Canadian Press was first published Feb. 7, 2023.
Agriculture
Canada under pressure to produce more food, protect agricultural land: report

A field of wheat is pictured near Cremona, Alta., Tuesday, Sept. 6, 2022. Canada’s agricultural land is under increasing pressure as demand for food grows domestically and internationally while the industry grapples with limited resources and environmental constraints, a new report found. THE CANADIAN PRESS/Jeff McIntosh
By Rosa Saba
Canada’s agricultural land is under increasing pressure to produce more food as demand grows domestically and internationally, while the industry grapples with limited resources and environmental constraints, a new report found.
“We need to grow more food on less land and in a volatile climate,” said Tyler McCann, managing director of the Canadian Agri-Food Policy Institute.
The report by the institute released Thursday looks at the pressures on Canada’s agricultural land to produce more food while also mitigating and adapting to the effects of climate change, said McCann.
Despite Canada being a big country, it doesn’t have as much agricultural land as people might think, said McCann, with the report noting that agricultural land makes up only around seven per cent of the country.
Because of that, we can’t take what we do have for granted, he said. “We need to be really thoughtful about how we are using our agricultural land.”
In 2020, Canada was the eighth largest country in terms of cropland area, the report said, with that cropland decreasing by seven per cent over the previous two decades.
Canada is a major producer and net exporter of agriculture and agri-food products, the report said, exporting $91 billion in products in 2022, and one of the top 10 exporters of wheat, canola, pulses, pork and beef.
In the coming years, Canada will face increased demand from countries whose populations are growing, the report said.
“With population growth on one side and climate change on the other, Canada will be amongst an increasingly smaller number of countries that is a net exporter,” said McCann, noting that Canada’s own population is growing, and farmland also needs to be protected against urban sprawl.
The wildfires clouding Canadian skies this week are a “vivid reminder” of the pressure that extreme weather and the changing climate are putting on the agricultural sector, said McCann.
“We need to clearly mitigate … agriculture’s impact on climate change. But we also need to make sure agriculture is adapting to climate change’s impacts,” he said.
One of the ways the world has responded to demand for increased agricultural production over time is to create more agricultural land, in some cases by cutting down forests, said McCann. But that’s not a viable option for Canada, which doesn’t have a lot of land that can be sustainably converted into farmland — and even if it could, doing so could have a variety of adverse environmental effects, he said.
Some of the practices used to reduce emissions and sequester carbon in agriculture can also improve production output on existing farmland, the report found, such as precision agriculture and no-till practices.
However, intensifying the production of current agricultural land also comes with potential environmental downsides, the report said.
For example, McCann said fertilizer is an important part of sustainable agriculture, but there’s a balance to be struck because excessive use of fertilizer can quickly turn food production unsustainable.
“We need to be a lot more thoughtful about the inputs that we’re using,” he said, adding the same can be said about the use of technology in agriculture and the policies and programs put in place to encourage sustainable intensification of Canadian agriculture.
The report recommends that Canada adopt policies that provide financial incentives and technical assistance to farmers and develop regulatory frameworks promoting sustainable land use, as well as promoting education and awareness campaigns, so that the country can “ensure the long-term sustainability of its agricultural sector while protecting the environment.”
This report by The Canadian Press was first published June 8, 2023.
Business
WestJet to wind down budget airline Swoop, integrate it into main operation

WestJet will wind down its Swoop subsidiary by late October as it integrates the budget carrier’s operations into its main banner, the airline said Friday.
The move comes after pilots with the two airlines ratified a new collective agreement that brings them onto a level pay scale.
WestJet CEO Alexis von Hoensbroech said he mulled keeping Swoop separate, but that higher wages for its flight crews made the option less realistic.
“We were prepared for both possible outcomes, and then decided that, provided the overall didn’t make sense, we’re actually ready to integrate Swoop into the mainline business,” von Hoensbroech said in a phone interview from WestJet’s Calgary headquarters.
Each trip by planes in the carrier’s 180-plus fleet will offer a portion of ultra-low-cost fares by Oct. 29, the day after Swoop ceases to fly, he said.
“We are actually broadening our ultra-low-cost reach to a much, much broader network than we could have ever covered with Swoop. So therefore we actually see this as an advantage and as an increased footprint for the ultra-low-cost offering in Canada.”
Pilots of WestJet and Swoop secured a 24 per cent hour pay bump over four years under a deal agreed on tentatively last month that narrowly averted a strike.
Bargaining came down to the wire, with WestJet cancelling more than 230 flights in preparation for job action before a deal was reached hours ahead of the strike deadline on May 19.
Competition for budget airfares has grown in recent years, particularly in Western Canada, as upstarts Flair Airlines and Lynx Air challenged Swoop for market share on key routes.
“The market has become pretty competitive,” von Hoensbroech said, but insisted Swoop’s integration strengthens its grip on discount offerings, rather than marking a retreat.
The company said no layoffs are expected from the integration, with all Swoop employees slated to move to the mainline.
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