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Business  

Increased fear of a spill

Jul 26, 2016 / 4:34 pm
Environmental groups say increased crude tanker traffic as a result of the proposed Energy East pipeline would raise the risk of a large bitumen spill and jeopardize the environment and marine life between New Brunswick and the U.S. Gulf Coast. "Energy East represents a set of extraordinary...

Items fetch high prices

Jul 26, 2016 / 3:03 pm
The interior of a restaurant that for 57 years hosted power lunches for a must see crowd of business executives and celebrities including Henry Kissinger and Tom Wolfe was auctioned off Tuesday. Items from The Four Seasons sold for well over their pre-sale estimates in Tuesday's all-day...

Sears president leaving job

Jul 26, 2016 / 2:46 pm
Sears Canada has announced Carrie Kirkman is leaving her role as president of the retailer, less than a year after starting the position. Kirkman's exit is one of several at the company's executive level in recent years. Ronald Boire stepped down as president-CEO in August 2015,...

WestJet profit tumbles

Jul 26, 2016 / 6:43 am
WestJet Airlines says its second quarter profit is down 40 per cent from last year but revenue held steady. The Calgary-based airline reports $36.7 million in net income, or 30 cents per share, from the months of April through June. That's down from the second quarter of 2015, when net...

No crude in old rail cars

Jul 25, 2016 / 12:09 pm
Transport Minister Marc Garneau is confirming older DOT-111 rail tanker cars will not be able to transport crude oil as of Nov. 1. The cars are the same model that was involved in the deadly Lac-Megantic tragedy in which 47 people died three years ago. The ban kicks in on Nov. 1, six months...

WestJet adding flights

Jul 25, 2016 / 11:29 am
WestJet (TSE:WJA) has announced it will add dozens of new flights to its domestic and international networks as part of its 2016-2017 winter schedule. Scheduled to start in late October, highlights from the airline's new flight roster include additional domestic routes from Toronto to...

Artisanal doughnuts a hit

Jul 25, 2016 / 10:19 am
When Rosanne Tripathy and her sister opened their specialty doughnut shop in Calgary more than five years ago, there weren't many fried-dough slingers selling upscale confections with new-fangled flavours like creme brulee or s'mores. "The market was void of anything similar,"...


isoHunt legal fight over

Jul 25, 2016 / 10:15 am
Music Canada says a settlement has ended a near decade-old legal fight with a now-defunct search engine, which was once one of the most popular websites for downloading songs and movies. Gary Fung, founder of isoHunt Web Technologies, filed a petition with the British Columbia Supreme Court in...

Starbucks relaxes code

Jul 25, 2016 / 9:42 am
Got purple hair? Starbucks wants to hire you. The world's largest coffee chain is loosening its employee dress code to allow workers to don brightly-dyed hair and coloured, patterned clothing. Starbucks says employees now have more fashion choices to wear underneath the company's...

Farewell to VCRs

Jul 25, 2016 / 6:59 am
Japanese electronics maker Funai Electric Co. says it's yanking the plug on the world's last video cassette recorder. A company spokesman, who requested anonymity citing company practice, confirmed Monday that production will end sometime this month, although he would not give a...

Yahoo sold for $4.83B

Jul 25, 2016 / 6:51 am
Verizon is buying Yahoo for $4.83 billion, marking the end of an era for a company that once defined the internet. It is the second time in as many years that Verizon has snapped up the remnants of a fallen internet star as it broadens its digital reach. The nation's largest wireless carrier...

Business this week

Jul 24, 2016 / 7:51 am
Five things to watch this week in Canadian business: U.S. politics: The Democratic National Convention begins in Philadelphia on Monday. Republican nominee Donald Trump has promised he will renegotiate the North American Free Trade Agreement and does not support the Trans-Pacific Partnership...

VW dealers briefed on fix

Jul 22, 2016 / 11:47 am
Volkswagen's plan to fix most of its 2-litre diesel engines that cheat on emissions tests includes a computer software update and a larger catalytic converter to trap harmful nitrogen oxide, according to two dealers who were briefed by executives on the matter. Limited details of the plan...

Embracing biometrics

Jul 22, 2016 / 8:48 am
In the not-too-distant future, your bank will be able to prevent fraud by learning how you type, your car will unlock when it senses the electrical activity of your heart and the security system at your office will recognize your facial features. That's according to experts in the field of...

Pokemon's first partnership

Jul 22, 2016 / 8:47 am
The Japan launch of "Pokemon Go" on Friday included the game's first partnership with an outside company: fast-food giant McDonald's. About 400 McDonald's Japan outlets are "gyms," where players can battle on their smartphones. The other 2,500 are...

The growth of direct sales

Jul 22, 2016 / 8:39 am
About three years ago, Diana Eves signed up to sell loose leaf tea and recruit salespeople for a company called Steeped Tea on her mother's insistence. The Calgarian says she now rakes in about $1,300 monthly from commission on her sales and those of some of her recruits. Within the next two...

Murdoch now acting chief

Jul 21, 2016 / 5:13 pm
Roger Ailes is out as chief executive at Fox News Channel, his career at the network he built from scratch and ran with an iron hand for nearly 20 years over with stunning swiftness following allegations that he forced out a former anchor after she spurned his sexual advances. Network parent...

Airline offers compensation

Jul 21, 2016 / 4:20 pm
Air Transat's president says the carrier will compensate all passengers booked on a flight that was disrupted when two pilots were arrested on suspicion of drunkenness. "We will be compensating all passengers on this flight pursuant to the applicable European regulations,"...

Building boom for Fort Mac

Jul 21, 2016 / 11:03 am
Canada Mortgage and Housing Corporation is predicting a house-building boom in wildfire-ravaged Fort McMurray, Alta., later this year and continuing into 2017. The national agency says if all the homes destroyed by the fire in May were rebuilt in one year, along with the usual number of new...

Paying for financial advice?

Jul 21, 2016 / 9:53 am
There's a scene in "The Wolf of Wall Street" where the cocaine-fuelled character of Mark Hanna, played by Matthew McConaughey, lays out the No. 1 rule about the stock markets. Nobody knows where they'll go. "But you and me, the brokers? We're taking cold hard cash...

An elevator crisis?

Jul 21, 2016 / 9:41 am
Every day of the year, Canadians across the country are finding themselves trapped in faulty elevators, while countless more are suffering through inconvenience and isolation because of elevators that are out of service — and the problem is worsening, an investigation by The Canadian Press...

Economic outlook down

Jul 21, 2016 / 9:36 am
A new Conference Board of Canada report has downgraded its projections for economic growth in 2016 from 1.6 per cent to 1.4 per cent, despite a strong start to the year. The think tank says Canada's economic growth advanced at a solid annual pace of 2.4 per cent in the first quarter, driven...

220 flights cancelled

Jul 21, 2016 / 6:30 am
Southwest says it has fixed computer problems that caused hundreds of flights to be cancelled, but it is telling passengers to get to the airport early because there could be long lines. The airline has already cancelled more than 220 flights on Thursday. Several of the airline's...

Fined $130M for fixing price

Jul 20, 2016 / 7:11 pm
Japanese auto-parts manufacturer Nishikawa Rubber Co. has agreed to plead guilty and pay a US$130-million fine for its role in an international bid-rigging scheme that affected car sales in Canada and the U.S. Subject to imposition by the U.S. courts, the resolution is the result of an...

Nostalgia fueled Pokemon

Jul 20, 2016 / 11:24 am
The children who once dreamed of capturing real-life Pokemon starting in the 1990s are now the nostalgic millennials helping fuel the worldwide success of "Pokemon Go." Take Bailey Richardson. Now 26, her grandest dream was once to set out in the world and capture and train the...

$177M Enbridge settlement

Jul 20, 2016 / 10:04 am
Enbridge Inc. has reached a US$177-million settlement with the U.S. government, including US$62 million in civil penalties, for two major pipeline spills in 2010. Of that amount, US$61 million is for the Line 6B pipeline rupture in Michigan that sent more than 3.19-million litres of crude into...

Bidding for flights

Jul 20, 2016 / 9:59 am
Canada's newest discount airline says it will let travellers bid on unsold seats. NewLeaf says the idea is part of a partnership with Calgary-based company Jump On Flyaways. Roger Jewitt, CEO of Jump On, says there are a lot of airline seats that fly empty every year because airlines use...

Canadian Pacific's new CEO

Jul 20, 2016 / 6:31 am
Canadian Pacific Railway announced Wednesday that president and chief operating officer Keith Creel will succeed Hunter Harrison as CEO, beginning July 1, 2017. The Calgary-based railway also said it has reached a three-year agreement with Harrison to stay on in a consulting...

Rise of grocery free agents

Jul 19, 2016 / 9:57 am
It's one of Vancouver's worst-kept secrets. Since 2012, diehard fans of U.S. grocery chain Trader Joe's have been able to get their hands on Speculoos Cookie Butter and Triple Ginger Snaps at a tiny storefront in the city's Kitsilano neighbourhood. The cheekily named Pirate...

Brexit will reduce growth

Jul 19, 2016 / 9:49 am
Britain's decision to leave the European Union will reduce global economic growth this year and next, the International Monetary Fund says. The IMF said Tuesday that it is shaving its estimate for worldwide growth to 3.1 per cent this year and 3.4 per cent in 2017. Both estimates are 0.1...

NY, Massachusetts sue VW

Jul 19, 2016 / 9:45 am
New York state and Massachusetts are suing Volkswagen and its affiliates Audi and Porsche over diesel emissions cheating, alleging that the German automakers defrauded customers by selling diesel vehicles equipped with software allowing them to cheat emissions testing. The lawsuits, announced...

Reviving Keystone XL

Jul 19, 2016 / 9:37 am
Reviving the Keystone XL pipeline project from Canada has become an official policy of the Republican party in the 2016 election, with its inclusion in the platform that's just been approved at the national convention. The ill-fated oil pipeline is the only detailed reference to Canada in...

Recession longest since 80s

Jul 18, 2016 / 2:35 pm
A new report says Alberta's current recession is expected to shrink the economy by more than double the average of the past four recessions. The TD Bank report released Monday said it estimates Alberta's economy will contract 6.5 per cent over 2015 and 2016, which would widely exceed the...

Condo sale bucks trend

Jul 18, 2016 / 2:25 pm
A riverfront development in Calgary has bucked the recent downward trend in luxury condominium sales in the city, after selling a unit for $8.4 million. Sotheby's International Realty Canada said Monday that the sale of the 5,000-square-foot condo, along with the $5.2-million sale of a...

Stampede a washout

Jul 18, 2016 / 2:07 pm
The Calgary Stampede recorded its lowest attendance in 22 years, organizers of the event said Monday, dealing yet another blow for businesses that were hoping for an economic shot in the arm from the annual shindig. "A lot of small businesses count on having a good Stampede as a high point...

Walmart Visa ban begins

Jul 18, 2016 / 6:36 am
Walmart's threat to ban the use of Visa cards at its Canadian stores gets underway today in the northwestern Ontario city of Thunder Bay. After months of negotiations, the retailing giant is eliminating Visa as a payment option at three stores in Thunder Bay, vowing to roll it out to its 400...

The growth of online sales

Jul 18, 2016 / 6:28 am
Rising online sales are prompting some Canadian retailers to consider overhauling the commission structures that motivate their store employees to deliver strong customer service. Clothing retailer Le Chateau said it's reviewing its options due to the growth of showrooming — a practice...

Life of Pets still No. 1

Jul 17, 2016 / 8:34 am
After months of prerelease debate, Sony Picture's female-led "Ghostbusters" reboot finally arrived in theatres as neither a massive success nor the bomb some predicted, as the much-scrutinized film opened with an estimated $46 million in North American theatres, second to the holdover...

Investing in the oilpatch

Jul 17, 2016 / 7:12 am
The largest energy-focused private equity firm in Calgary is ramping up its oilpatch investing pace to take advantage of bargain prices and an expected recovery in oil prices next year. ARC Financial Corp. has been more active than usual in 2016, fuelled in part by $1.5 billion pledged a year...

Business this week

Jul 17, 2016 / 7:05 am
Five things to watch this week in Canadian business: Premiers meeting: The annual summer gathering of Canada's premiers gets underway beginning Wednesday in Whitehorse, Yukon. One major issue to be discussed is the possible agreement to bring down internal trade barriers, long a thorn in the...
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