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Business  

Shortfalls could total $90B

Feb 10, 2016 / 10:41 am
The National Bank says the country's fading economic prospects could put the federal government on track to run $90 billion in deficits over the Liberals' four-year mandate. In a report, the bank predicts the public books will sink deeper into the red due to the combination of a weakened...

Manufacturing faces hurdles

Feb 10, 2016 / 10:36 am
Amid hopes that Canadian manufacturing will drive economic growth in a country reeling from low oil prices, internal federal documents warn the sector's rebirth is staring at "significant" structural obstacles. In a recent memo addressed to Economic Development Minister Navdeep...

Betting the farm on tech

Feb 10, 2016 / 10:20 am
The family farm is going high-tech. From robotic milking machines to data-gathering drones, industry watchers say technology is making agriculture more precise and efficient as farmers push for increased profits and yields. "There's a whole confluence of technologies that are adding...

The redefinition of "driver"

Feb 10, 2016 / 10:15 am
Computers that control cars of the future can be considered drivers just like humans, the federal government's highway safety agency has found. The redefinition of "driver" by the National Highway Traffic Safety Administration is an important break for Google, taking it a step...

Tweaking health plans

Feb 10, 2016 / 10:12 am
During his three-year tenure as a financial analyst at one of Canada's biggest banks, Devon Wright never once used his company health plan. "There was just nothing there that was of any interest to me," says Wright, 28. So when Wright quit his job in 2012 to launch technology...

NAFTA on the outs?

Feb 10, 2016 / 6:13 am
The North American Free Trade Agreement doesn't have a champion among either of the winners of the New Hampshire primary, who both say they want to scupper the deal should they win the presidency. That stated objective faces monumental political and legal obstacles, starting with the fact...

More layoffs at Husky

Feb 10, 2016 / 6:01 am
Slumping world oil prices continue to hit Calgary’s energy industry hard as more layoffs have been announced. Husky Energy issued pink slips to 400 people arriving for work at the downtown Calgary office on Tuesday, but there could be many more when cuts from their other locations are...


Buybacks lose billions

Feb 9, 2016 / 10:51 am
If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what's going on inside businesses than anyone else: Companies that buy their own shares. The companies losing money on these bets are down a...

U.S. job market looking up

Feb 9, 2016 / 10:26 am
U.S. companies advertised more available jobs in December and more Americans quit, trends that could lift wages in the coming months. The number of job openings jumped 4.9 per cent to 5.6 million, the most since July, the Labor Department said Tuesday. And quits increased 6.9 per cent to nearly...

Record profit at Cineplex

Feb 9, 2016 / 6:55 am
The Force was with Cineplex last year as the latest instalment in the "Star Wars" saga helped propel the theatre chain to its best-ever annual and fourth-quarter financial results. Box office revenue was $196.3 million in the final quarter of 2015, up $23.8 million or 13.8 per cent...

Trains slam head on in crash

Feb 9, 2016 / 6:49 am
Two commuter trains crashed head-on Tuesday morning in southern Germany, killing at least nine people and injuring around 150, slamming into each other on a curve without braking after an automatic safety system apparently failed to stop them, the transport minister said. The first rescue units...

Fortis buying US utility

Feb 9, 2016 / 6:38 am
Fortis Inc. has a friendly US$11.3-billion deal to buy U.S. electric transmission company ITC, the latest acquisition south of the border for the Newfoundland-based utility company. The deal announced Tuesday includes US$6.9 billion in cash and stock and US$4.4 billion in assumed debt....

Investors staying the course

Feb 9, 2016 / 6:18 am
Falling stock markets have not changed how most Canadian investors view their portfolios, a new poll suggests. The online poll released Tuesday and conducted for CIBC found that 58 per cent of people surveyed say they're sticking with their long-term investment strategy despite the recent...

GHG rules for airliners?

Feb 9, 2016 / 6:03 am
A United Nations panel on Monday proposed long-sought greenhouse gas emissions standards for airliners and cargo planes, drawing praise from the White House and criticism from environmentalists who said they would be too weak to actually slow global warming. The International Civil Aviation...

Work for laid-off oil workers

Feb 8, 2016 / 7:07 pm
Saskatchewan wants the federal government to bankroll a program that would see oil and gas workers who have lost their jobs clean up abandoned and dormant wells. Premier Brad Wall says it would help stimulate employment in the oil-and-gas sector and accelerate environmental cleanup of wells that...

Building permits soar

Feb 8, 2016 / 8:51 am
Statistics Canada says the total value of building permits issued by Canadian municipalities rose 11.3 per cent to $6.9 billion in December. The agency says permits for multi-family homes in Quebec, Ontario, British Columbia and Alberta were the main reason for the increase from November. The...

Friendly mining takeover

Feb 8, 2016 / 8:42 am
Tahoe Resources Inc. has a friendly deal to buy Lake Shore Gold Corp. and its two mines in Northern Ontario in return for stock in the Vancouver-based mining company. The proposed combination — which values Lake Shore at about $945 million — would add the Timmins West and Bell Creek...

Luxury retail's battle ground

Feb 8, 2016 / 8:03 am
Industry watchers say Canada's retail clothing sector is expected to slow in the coming few years even though the battle for luxury shoppers is revving up. After two years of growth approaching four per cent, sales are forecast to slow and bottom out to a mere one per cent increase in 2018,...

Who won the ad game?

Feb 8, 2016 / 8:00 am
The Denver Broncos defeated the Carolina Panthers during Super Bowl 50 — and there were clear winners and losers off the field, too. Advertisers pulled out all the stops to woo the 114 million-plus viewers during the Big Game. With 30-second ads costing up $5 million, it's a huge...

This week in business

Feb 7, 2016 / 8:10 am
Five things to watch this week in Canadian business: Bank of Canada: Deputy governor Timothy Lane will give a speech at HEC Montreal on monetary policy and financial stability on Monday. The central bank held the line on its key interest rate last month, but the decision was a close...

Germany closes Cdn bank

Feb 7, 2016 / 8:05 am
German authorities have ordered the closure of Maple Bank after the Canadian-owned company was investigated for alleged tax evasion and money laundering. Maple Bank, based in Frankfurt, Germany, is part of Canada's Maple Financial Group. The Federal Financial Supervisory Authority said...

Woody's pot shop?

Feb 6, 2016 / 6:26 am
Actor and marijuana advocate Woody Harrelson was one of nearly 60 applicants to apply to open one of Hawaii's first medical marijuana dispensaries. Harrelson, 54, applied for a licence in Honolulu County under his company, Simple Organic Living. The Hawaii Department of Health posted the...

Oilpatch takeover done deal

Feb 6, 2016 / 6:17 am
Suncor Energy has announced that nearly 73 per cent of Canadian Oil Sands shares and accompanying rights have been tendered to Suncor's offer. Suncor officials said that as a result, the company will be able to ensure that a subsequent acquisition transaction will be completed and Suncor...

BlackBerry cutting 200 staff

Feb 5, 2016 / 2:54 pm
BlackBerry Ltd. (TSX:BB) is laying off 200 employees in Canada and the U.S. The company said in a statement that 200 employees have been impacted in Waterloo, Ont., and Sunrise, Fla. BlackBerry would not specify what departments were most affected or how many employees in each office would be...

Housing starts slow

Feb 5, 2016 / 12:37 pm
The annual pace of housing starts slowed in January. Canada Mortgage and Housing Corp. said Friday that the seasonally adjusted annual rate of housing starts for the first month of the year was 165,861 units, down from 172,533 in December. The decrease came as the annual pace of urban starts...

Oil flows despite drop

Feb 5, 2016 / 12:33 pm
Consultancy Wood Mackenzie says Canadian oil producers are among the very few globally who have reduced output in the face of low oil prices. Wood Mackenzie says it found that only about 100,000 barrels a day — or 0.1 per cent of global production — has been cut as oil trades below...

VW delays earnings report

Feb 5, 2016 / 9:14 am
Volkswagen says it is postponing release of its full-year earnings as well as its annual shareholder meeting due to open questions about its diesel emissions scandal. The German carmaker said Friday it would give new dates for the earnings release, formerly slated for March 10, and for its...

Cara commits to cage-free

Feb 5, 2016 / 6:47 am
Cara Foods, the owner of such restaurants as Harvey's, Swiss Chalet, Kelsey's and East Side Mario's, will switch to cage-free eggs in its entire supply chain by 2020. The announcement was made Thursday by the group Mercy For Animals, which said it collaborated with Cara Foods to...

Quakes linked to oil

Feb 5, 2016 / 6:38 am
A 2005 spate of quakes in California's Central Valley almost certainly was triggered by oilfield injection underground, a study published Thursday said in the first such link in California between oil and gas operations and earthquakes. Researchers at the University of California at Santa...

Gender employment divide

Feb 5, 2016 / 6:32 am
Job prospects for women are looking increasingly bleak as the so-called fourth industrial revolution puts female-dominated industries at imminent risk. In Canada, where the traditional gender employment divide persists, that could mean a big hit to the economy given that almost half of the...

A lukewarm reception

Feb 4, 2016 / 4:40 pm
Prime Minister Justin Trudeau's promises of fast-tracked infrastructure spending and employment insurance reform in Alberta have received a lukewarm reception among some oilpatch workers. "It's just a drop in the bucket of the billions that we've sent out east," said...

Rusting hulk to sail again?

Feb 4, 2016 / 4:02 pm
The SS United States, an ocean liner bigger than the Titanic that once carried celebrities across the Atlantic at record speeds, may one day sail again. Crystal Cruises luxury travel company announced plans Thursday to overhaul the ship at a cost of at least $700 million. The massive steamship...

LNG decision postponed

Feb 4, 2016 / 12:54 pm
Royal Dutch Shell is postponing a final investment decision on its proposed liquefied natural gas mega-project in British Columbia as it grapples with plummeting earnings due to low energy prices. Chief executive Ben van Beurden said Thursday that the company was delaying a final commitment on...

Danier Leather insolvent

Feb 4, 2016 / 12:47 pm
Danier Leather Inc. said it has entered insolvency proceedings in order to protect itself from creditor lawsuits as it seeks a buyer. The well-known retailer of leatherwear and accessories said the move was necessary because of ongoing financial problems, including more than $27 million in...

Tree house to big screen

Feb 4, 2016 / 12:37 pm
Lionsgate has acquired the rights to the Magic Tree House book series and is developing multiple live-action films based on the collection of books for children. The entertainment company said Thursday that author Mary Pope Osborne will executive producer along with her husband, Will...

Suncor sheds 1,700 jobs

Feb 4, 2016 / 12:12 pm
The CEO of Canada's biggest oilsands player says about 1,700 jobs were shed over the past year or so — far surpassing its original target. Just over a year ago, Suncor Energy announced it would be cutting 1,000 jobs because of the sharp downturn in crude prices. "We...

Shell's profits tumble

Feb 4, 2016 / 10:06 am
Royal Dutch Shell said fourth-quarter earnings tumbled 44 per cent as the collapse in oil prices took its toll on another global energy giant. Profit adjusted for changes in the value of inventories and one-time items dropped to $1.83 billion from $3.26 billion in the same period a year earlier,...

Temptation of RRSP loans

Feb 4, 2016 / 10:03 am
A low interest rate and the promise of a supercharged tax refund may be the tempting lure of an RRSP loan. If people haven't been maximizing their RRSP contributions every year, chances are they've accumulated a fair bit of unused contribution room. An RRSP loan may be one way to...

Ad blocking hits end zone

Feb 4, 2016 / 6:40 am
A baby expounding on the benefits of online stock trading. A pint-sized Darth Vader using the Force to power his father's sedan. Burt Reynolds being kicked in the groin by a bear. Americans watching the Super Bowl are fed big-budget, celebrity-heavy commercials that have become almost as big...

Facebook's 'Friends Day'

Feb 4, 2016 / 6:33 am
Facebook is giving friendship collages to its 1.6 billion users in celebration of the social network's 12th birthday. The collages will be packaged in video presentations of photos of friends and family that have been previously been posted on Facebook. The photos are picked out by automated...
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