News of the day: Fewer Canadians opening new bank accounts, inflation’s ‘hidden tax’, Air Canada posts loss, HST rebate pushes home sales, startups slipping away and more

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Or sign-in if you have an account.Bank buildings in Toronto's Financial District. Photo by Wikimedia CommonsIt’s Wednesday, August 12. Here are the top stories we’re following today.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountIn the seven largest census metropolitan areas, including Toronto, Vancouver and Montreal, the number of consumers who opened a new financial account or product in the past year fell to 46 per cent of the 17,762 respondents to the annual survey in 2026 from about 57 per cent of the 42,693 respondents in 2025. A comprehensive approach to indexation would promote greater consistency across the Income Tax Act, reduce the need for ad hoc legislative adjustments and provide taxpayers with greater certainty. Photo by Rochu 2008/Adobe StockGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againWhile most income tax brackets, amounts, and thresholds are indexed to inflation, a recent analysis conducted by the Society of Trust and Estate Practitioners (STEP) of Canada found more than 200 items that are not indexed to inflation, and the society has written to the government to try to get this fixed. Canada’s largest airline posted a net loss of $178 million in the second quarter. Photo by Richard Lam/PostmediaCanada’s largest airline posted a net loss of $178 million and a diluted loss per share of 63 cents, a drop from $186 million net income and diluted earnings per share of 51 cents the year before. New homes sold in Ontario in the second quarter were up 130 per cent from a year earlier. Photo by Tyler Anderson/National PostAccording to sales data collected by the Building Industry and Land Development Association, Ontario Home Builders Association and Altus Group, 8,410 new homes sold across the province in the three months ending June 30 — up 130 per cent from 3,645 a year earlier. Pedestrian at Bay and King Streets in the financial district in Toronto. Photo by Peter Power/Postmedia filesThe Council of Canadian Innovators said the 31 founders it interviewed across 30 companies often encounter four major hurdles that lead them to the foreign acquisition path: difficulties in securing early, domestic customers, the capital and specialized talent needed to grow and a disjointed scale-up system.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.