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Business  

Darks clouds over eurozone

Feb 12, 2016 / 6:27 am
The 19-country eurozone is in its longest stretch of economic expansion since the global financial crisis in 2008, but growth remains paltry despite a series of tail winds and is susceptible to a reverse if the worst fears in financial markets come to fruition. The region's economy grew by a...

Stock turmoil hits broker

Feb 12, 2016 / 6:12 am
The weakness experienced in stock markets around the world has taken a toll on one of Canada's largest brokerage firms, Canaccord Genuity, which is cutting seven per cent of its workforce and writing down the value of its business assets. As a result, Canaccord is recording a $346.4 million...

To lease or buy?

Feb 12, 2016 / 6:01 am
The shiny chrome and new car smell can be tempting lures for anyone who needs to replace their car. But if people don't have the money to buy one with cash and they still have their heart set on a brand new set of wheels, they're faced with the decision to finance or lease the new...

Support for regulated Uber

Feb 12, 2016 / 5:54 am
An Angus Reid Institute online poll has found that most respondents don't support banning Uber, but would like to see the ride-hailing service regulated like much like the taxi industry. Two-thirds of the 1,503 people who responded to the poll conducted late last month said Uber should be...

Gas leak finally plugged

Feb 11, 2016 / 10:17 pm
A blowout at a natural gas well that leaked uncontrollably for 16 weeks and drove thousands of residents from their Los Angeles homes was plugged Thursday, a utility said. While the well still needs to be permanently sealed with cement and inspected by state regulators, the announcement by...

Stock markets plunge

Feb 11, 2016 / 1:36 pm
Stock markets in Toronto and New York plunged as the price of oil fell below US$27 a barrel and uncertainty over the global economy continued to fester. The S&P/TSX composite index closed down 98.28 points at 12,087.44. It was the fifth straight day of losses for the resource-heavy market,...

Beer sinks along with oil

Feb 11, 2016 / 11:00 am
Molson Coors Brewing Co. says a sluggish economy and higher food prices are affecting beer drinking in Canada's oil-rich provinces. The Denver and Montreal-based company said the beer industry has seen customers, particularly in Alberta, shift from higher-priced premium to economy...


Backing off on budget vow

Feb 11, 2016 / 10:56 am
Prime Minister Justin Trudeau is backing away from a campaign vow to balance the public books before the end of his government's four-year mandate — a promise that was central to the Liberal election platform. As a result of a weakening economy, the government's upcoming 2016-17...

Bell Helicopter lays off 200

Feb 11, 2016 / 10:05 am
Bell Helicopter is laying off an additional 200 employees at its Mirabel assembly plant north of Montreal because of ongoing challenges in the aerospace market. The subsidiary of U.S. aerospace company Textron (NYSE:TXT) said the move flows from its earlier decision to cut production at the...

Love, marriage, money

Feb 11, 2016 / 9:39 am
Valentine's Day may have people thinking about their relationships and where they are going. And if the heart turns to taking it further, that may mean the marrying of finances. For some couples, it will be when they move in together and begin sharing big expenses like rent. For others,...

Cenovus signals more cuts

Feb 11, 2016 / 9:37 am
Cenovus Energy Inc. says it's planning to reduce its workforce further this year and take other moves to cut $400 million to $500 million from its costs while it rides out a rough period of low oil and gas prices. Among other things, it's aiming to cut operating and administrative costs...

Oil drops below US$27

Feb 11, 2016 / 7:51 am
The Canadian dollar and Toronto Stock Exchange continued to retreat in early trading today as the price of oil traded below US$27 a barrel for the first time since September 2003. After 15 minutes of trading, Canada's oil-sensitive loonie was down 0.13 of a cent at 71.64 cents US and the...

Telus profit declines

Feb 11, 2016 / 6:49 am
Telus Corp. says its profit for the fourth quarter was hit by costs related to a workforce reduction announced in November and by accounting expenses related to upgrades in network technology. Net income for the final three months of 2015 dropped 16.3 per cent from a year earlier to $261 million...

Mining giant posts loss

Feb 11, 2016 / 6:34 am
Mining company Rio Tinto said Thursday it suffered a loss of $866 million in 2015 as deteriorating economic conditions around the world pressured prices of commodities such as iron ore and coal. The Australian mining giant on Thursday reported that 2015 revenue slumped to $34.8 billion from...

Answer for Can Post woes

Feb 11, 2016 / 6:16 am
A new study is delivering some potential solutions to Canada Post's woes, including a recommendation that postage rates should vary depending on where the mail is going. The paper by the School of Public Policy at the University of Calgary says the outlook for the Crown corporation isn't...

Bannister Honda top dealer

Feb 10, 2016 / 3:08 pm
Bannister Honda has been awarded a 2016 DealerRater Dealer of the Year Award, an annual recognition given to the top-rated auto dealerships on DealerRater.com, according to consumer reviews. The DealerRater Dealer of the Year Award is given to a handful of dealers across Canada. Bannister...

Twitter follows FB lead

Feb 10, 2016 / 1:10 pm
Twitter is tweaking the way that tweets appear in its users' timelines in its latest attempt to broaden the appeal of its messaging service. The change announced Wednesday moves Twitter closer to a formula that Facebook uses to determine the order of posts appearing in its users' news...

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...
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