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Business  

More competition, so what?

May 5, 2016 / 6:41 am
Consumers were on the losing end of a gamble by the former Conservative government when it sought to create more competition in the wireless market by interfering in it, says a new report released Thursday. And researchers at the Montreal Economic Institute say the country's telecom...

Missed the tax deadline?

May 5, 2016 / 6:22 am
The deadline to file your income tax return for most Canadians has come and gone. So, if you haven't already filed your tax return, tax experts say, you'd best get working and file as soon as possible. EY tax partner Ryan Ball said he's heard all manner of excuses from late...

Aeropostale to exit Canada

May 4, 2016 / 1:22 pm
Clothing retailer Aeropostale is shuttering all its stores in Canada, as it files for Chapter 11 bankruptcy protection in the U.S. The New York-based company said Wednesday that it is closing all 41 locations across Canada and 113 locations in the U.S. The closures represent 20 per cent of the...

Digital spring cleaning

May 4, 2016 / 1:13 pm
Spring cleaning isn't just about tossing old furniture and torn clothing: It's a great time to clear out your digital clutter and make sure you're protected against hackers. That means evaluating all your passwords — and changing them if you haven't in a while. You'll...

Crude operations dealt blow

May 4, 2016 / 11:57 am
The wildfire raging through the heart of Canada's oilsands capital dealt a blow Wednesday to crude operations, with companies curtailing production or stopping it altogether. Shell Canada shut down output at its Albian Sands oilsands mining operations, which have the capacity to produce...

Earls back to Cdn beef

May 4, 2016 / 9:00 am
The Earls restaurant chain says it will start serving Canadian beef again following a recent uproar over its decision to switch to hormone-free meat from the United States. The Vancouver-based company — which has 26 of its 66 locations in Alberta — said last week that it would serve...

Loblaw profit jumps

May 4, 2016 / 6:44 am
Loblaw Companies Ltd. is reporting double-digit increases to its profit and adjusted earnings for the first quarter. The operator of Canada's largest grocery and pharmacy business had $193 million of net income for the quarter, up $47 million or 32.2 per cent from a year earlier. Its...
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Oil camps fill with evacuees

May 4, 2016 / 6:09 am
Oilsands work camps were being pressed into service Tuesday to house evacuees as a raging wildfire emptied the city of Fort McMurray. "We've made our work camp available to staff and their families who have been evacuated and need a place to stay," said Cameron Yost of Shell...

Dealers win right to sue GM

May 3, 2016 / 1:20 pm
A group of Canadian new-vehicle dealers won permission Tuesday to sue General Motors United States in a case that goes to the heart of the relationship between the automaker and its franchised sales outlets. In giving the green light to the lawsuit, Ontario's top court overruled an earlier...

Auto sales stay hot in April

May 3, 2016 / 11:49 am
America's love of trucks and SUVs helped push most automakers to healthy sales gains last month as Honda and Nissan reported best-ever April sales. Ford posted record SUV sales, while Toyota broke a record for SUV and truck sales. Honda led major automakers with a 14.4 per cent sales...

The future of movie theatres

May 3, 2016 / 11:46 am
Going to the movies isn't as simple as it used to be, and don't expect that to change in the future. Between 3D, the VIP screens and DBox motion seats, the list of options at the box office can be overwhelming. In an era of binge-worthy TV shows and popular streaming video services,...

14M bottles of bourbon

May 3, 2016 / 9:59 am
Jim Beam has filled and sealed its 14 millionth barrel of bourbon since the 1933 repeal of Prohibition, achieving a first in the bourbon industry. Seventh-generation master distiller Fred Noe and Kentucky Gov. Matt Bevin sealed the barrel Monday at the company's flagship distillery in...

$87.6M profit at WestJet

May 3, 2016 / 6:23 am
WestJet Airlines Ltd. says the fundamentals of its business remain strong despite the impact of economic weakness in Alberta, the airline's home base. The Calgary-based company says it had an $87.6 million profit, or 71 cents per share, in the first quarter. Revenue was $1.03 billion,...

Encana posts $379M loss

May 3, 2016 / 6:20 am
Calgary-based Encana Corp. has reported a US$379-million net loss for the first quarter as revenue fell 40 per cent compared with the same time last year. Encana is adjusting to persistently low commodity prices and recorded $607 million in asset writedowns and $22 million for restructuring...

Unmanned ships next

May 3, 2016 / 6:18 am
It's not only drones and driverless cars that may become the norm someday — ocean-faring ships might also run without captains or crews. The Pentagon on Monday showed off the world's largest unmanned surface vessel, a self-driving 132-foot ship able to travel up to 10,000 nautical...

$15 wage ruling criticized

May 2, 2016 / 1:46 pm
An organization of franchise business owners is disappointed that the U.S. Supreme Court won't hear a challenge to Seattle's $15-an-hour minimum wage law. The International Franchise Association and five franchises sued the city, saying the new law discriminates against them by treating...

A brief look at bitcoin

May 2, 2016 / 11:33 am
Bitcoins allow people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties. The online currency's origins have long been a mystery — though an Australian man long rumoured to have ties to bitcoin has come forward claiming to be...

Bitcoin mystery solved?

May 2, 2016 / 9:44 am
An Australian man long rumoured to be associated with the digital currency Bitcoin has publicly identified himself as its creator, a claim that would end one of the biggest mysteries in the tech world. BBC News said Monday that Craig Wright told the media outlet he is the man previously known by...

BCE to buy Man. Telecom

May 2, 2016 / 6:40 am
BCE Inc. has signed a friendly deal valued at $3.9 billion to buy Manitoba Telecom Services Inc. The agreement will add Manitoba's largest phone, Internet and wireless company to a Montreal-based telecommunication business that stretches across Canada. "Bell and MTS have a shared...

Enbridge rethinks U.S. gas

May 2, 2016 / 6:32 am
Enbridge Energy Partners LP is looking at a possible sale of its main natural gas business in the United States, which has experienced a 51 per cent decline in first-quarter revenue and a higher operating loss compared with last year. The Enbridge-run limited partnership, which is primarily...

Business this week

May 1, 2016 / 7:35 am
Five things to watch this week in Canadian business: Tax deadline: Have you filed your taxes yet? Normally the deadline is April 30, but because that fell on a Saturday, Canadians have until Monday to do so. Cineplex: The movie theatre giant releases its first-quarter earnings on Tuesday, the...

A billion for Bombardier?

Apr 30, 2016 / 5:10 pm
Prime Minister Justin Trudeau praised Bombardier's CSeries as an "exceptional airplane" on Saturday but would not hint whether his government plans to invest federal money in the Montreal-based aerospace giant. Trudeau said his government recognizes the importance of Canada's...

Uber, blind riders settle

Apr 30, 2016 / 4:50 pm
Uber and advocates for the blind have reached a lawsuit settlement in which the ride-hailing company agrees to require that existing and new drivers confirm they understand their legal obligations to transport riders with guide dogs or other service animals, an advocacy group announced...

Wee-lief for flying dogs

Apr 30, 2016 / 7:08 am
Little Simba couldn't wait to check it out. The toy poodle was among the first to try a special bathroom just for animals at New York's John F. Kennedy International Airport, among a growing number of "pet relief facilities" being installed at major air hubs across the...

Airfare at six-year low

Apr 30, 2016 / 7:05 am
The average domestic airfare on major Canadian airlines remained at a six-year low in the third quarter of 2015, according to the latest figures from Statistics Canada, although that might come as a surprise to travellers. In its report this week, StatCan said a one-way domestic flight cost on...

Oil field fuels pollution

Apr 30, 2016 / 6:13 am
An oil and natural gas field in the western United States is largely responsible for a global uptick of the air pollutant ethane, according to a new study. The team led by researchers at the University of Michigan found that fossil fuel production at the Bakken Formation in North Dakota and...

Feds ahead of deficit plan

Apr 29, 2016 / 1:54 pm
The federal government ran a budgetary surplus of $7.5 billion over the first 11 months of its fiscal year — putting Ottawa's books well ahead of its 2015-16 deficit prediction with one month to go. The Finance Department's latest monthly fiscal monitor, released Friday, suggests...

Beer ban 'unconstitutional'

Apr 29, 2016 / 11:59 am
A judge has dismissed charges against a New Brunswick man charged with illegally importing 14 cases of beer and three bottles of liquor from a Quebec border town, in a ruling defence lawyers say has "huge" ramifications. Judge Ronald LeBlanc threw out all charges Friday against Gerard...

Family won't give up control

Apr 29, 2016 / 11:47 am
Bombardier's founding family has no intention of changing the voting structure that allows it to maintain control of the aerospace giant. Pierre Beaudoin, the executive chairman of the board, commented on the matter today when questioned at the company's annual meeting. Beaudoin is a...

Valeant resolves debt default

Apr 29, 2016 / 11:46 am
Valeant Pharmaceuticals resolved its default on some of its $30 billion in debt by finally filing its long-overdue U.S. financial report for 2015 on Friday. The badly tarnished Canadian drugmaker also announced a slate of mostly new nominees for elections to its board in June. The moves briefly...

Dollar hits 80-cent US

Apr 29, 2016 / 9:29 am
The Canadian dollar hit the 80-cent US mark today, signalling a remarkable turnaround for the currency this year. The loonie reached the level shortly after North American stock markets opened for trading before pulling back. It was up 0.16 of a cent at 79.85 cents US in late-morning...

Cdn economy contracts

Apr 29, 2016 / 6:30 am
Statistics Canada says the economy dipped in February after four consecutive months of growth. The federal agency says real gross domestic product edged down 0.1 per cent in February. The result matched the expectations of economists, according to Thomson Reuters. Statistics Canada says...

Eurozone picks up steam

Apr 29, 2016 / 6:23 am
It's been a long and tortuous journey, but the eurozone economy is finally back to the size it was before the global financial crisis. Official figures released Friday show that the eurozone, which as a bloc is the world's second-largest economy, accelerated unexpectedly at the start of...

Air Canada back in black

Apr 29, 2016 / 6:12 am
Air Canada reported a profit of $101 million in its latest quarter compared with a loss a year ago. The airline says the profit amounted to 35 cents per diluted share compared with a loss of $309 million or $1.08 per diluted share in the same quarter last year. Operating revenue totalled...

Variable pay in oilpatch

Apr 28, 2016 / 8:12 pm
Employees at Calfrac Well Services Ltd. are being forced to give up pay certainty as low commodity prices hammer the providers of well fracking services credited with creating the current North American oil and gas glut. In a news release Thursday, the company confirmed that it has joined rivals...

Cut or raise fares?

Apr 28, 2016 / 8:08 pm
No one should blame consumers for being perplexed by airfares — even the airlines themselves can seem confused at times. Southwest Airlines caught rivals and Wall Street by surprise when it cut many U.S. fares by $5 each way. The reduction this week applied to tickets bought within seven...

Cattle ranchers have beef

Apr 28, 2016 / 2:34 pm
A decision by Earls restaurants to ditch Alberta beef in favour of hormone-free U.S. meat has prompted a swift backlash from cattle ranchers and online threats to boycott the Canadian chain. The company announced this week that it would become the "first restaurant chain in North...

Mourning Mister Softee

Apr 28, 2016 / 11:26 am
Les Waas, the advertising legend behind the Mister Softee jingle heard in hundreds of ice cream trucks for more than half a century, has died. He was 94. Waas died April 19 at Abington Hospice in Warminster, according to Goldsteins' Rosenberg's Raphael-Sacks funeral home. The Mister...

Another year in the red

Apr 28, 2016 / 11:00 am
The Conference Board of Canada says Canada's oil and gas industry is expected to be in the red for the second year in a row. But the pre-tax losses for 2016 aren't expected to be as severe as last year and the sector is on track to return to profitability in 2017. The Ottawa-based...

Comcast buys DreamWorks

Apr 28, 2016 / 6:54 am
Comcast is buying DreamWorks Animation for approximately $3.55 billion. DreamWorks stockholders will receive $41 for each share they own. That's a 24 per cent premium to the company's Wednesday closing price of $32.20. The companies put the deal's value at about $3.8...
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