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Your daily horoscope: February 16, 2026

  IF TODAY IS YOUR BIRTHDAY Mind planet Mercury links with luck planet Jupiter on your birthday, which means you will see with the utmost clarity what needs to be done. Don’t listen to those who urge caution – there are major rewards awaiting those who are willing to take a chance. ARIES (March 21 - April 20): If you have been finding it hard to get your message across lately you should be able to locate the right words today and tomorrow. The mental block that has been clouding your thinking will be swept away by the imminent solar eclipse. TAURUS (April 21 - May 21): Your ability to get along with employers and other important people will be put to the test over the next two or three days but almost certainly you will find you have more in common than what divides you. You’re on the same side. GEMINI (May 22 - June 21): Something that has been worrying you for quite some time will come to a head either today or tomorrow and the good news is it won’t be as horrible as you imagined...
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Bankruptcies Surge in Canada Amid Economic Challenges

 

In a year marked by financial turbulence, business insolvencies in Canada have reached unprecedented levels. According to data from the federal Office of the Superintendent of Bankruptcy, 2023 witnessed the highest number of business insolvencies in 36 years of recorded history. The surge was particularly pronounced, with filings rising 35% in the fourth quarter compared to the previous quarter and more than doubling compared to the same period a year ago.

Key Points:

  1. Record High: The total number of businesses filing for insolvency was the highest in 13 years.
  2. Mainly Bankruptcies: The rise was primarily driven by bankruptcies rather than renegotiations of terms.
  3. Hardest-Hit Sectors: Accommodation and food services, retail, and construction experienced the most significant impact.
  4. Financial Challenges: Businesses grappled with rising input costs, wage expenses, and debt servicing costs throughout the pandemic.
  5. Debt Burden: Debt taken on during the pandemic has left some Canadian businesses unviable or in need of debt restructuring.
  6. Government Loans: Business owners who couldn’t repay government pandemic loans (such as CEBA) by the January 19 deadline now face interest charges and monthly payments.

Economic Outlook:

  • Interest Rate Pressure: The additional costs of servicing debts due to higher interest rates may strain businesses already on a precarious edge.
  • Consumer Spending Decline: The weakening economy has also impacted consumer spending, further adding pressure to businesses’ bottom line.
  • Room for Recovery: Some businesses may struggle to manage increased monthly bills, especially if sales remain challenging.

As the Canadian economy navigates these challenges, businesses face a critical juncture. The road to recovery will require resilience, adaptability, and strategic financial management.


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