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Business  

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...

Facebook: Are you OK?

Jul 15, 2016 / 11:54 am
In the wake of an attack that saw a truck slam into a crowd of Bastille Day revellers in Nice, France, killing at least 84, Facebook has activated its "safety check" feature. The tool helps users of the social network inform their Facebook friends that they are safe during crisis...

Route 66 goes green

Jul 15, 2016 / 11:51 am
Route 66, a highway made famous for attracting gas-guzzling Chevrolet Bel Airs travelling from Chicago to Los Angeles, is turning green. The Mother Road is seeing a growing number of electric car charging stations along the 2,500-mile path, and some states are pushing for solar panels and...

Unions back Energy East

Jul 15, 2016 / 11:46 am
Four major trade unions have joined forces with TransCanada Corp. to push the proposed Energy East oil pipeline as a "nation-building" exercise. The alliance, symbolized by a memorandum of understanding signed Thursday, gives the 4,600-kilometre pipeline from Alberta to New Brunswick a...

No more tailings ponds

Jul 15, 2016 / 8:42 am
The Alberta Energy Regulator has introduced new rules that it says will ultimately remove unsightly and toxic tailings ponds from the oilsands mining region of northeastern Alberta. CEO Jim Ellis says companies with tailings ponds will face new reporting and progressive reclamation requirements,...

Rio flights grounded in fall

Jul 15, 2016 / 7:15 am
Air Canada is indefinitely suspending service to Rio de Janeiro this fall due to Brazil's weak economic environment and a drop in demand it expects following the Olympic Games. The Montreal-based carrier says other airlines are adopting similar changes. Air Canada will end its triweekly...

Messaging app stock soars

Jul 14, 2016 / 2:13 pm
Shares of Line Corp. are soaring in their debut on the New York Stock Exchange amid hungry investor demand to get in on the mobile messaging craze. Line's American Depositary Shares closed up $8.74, or 27 per cent, to $41.58 Thursday. The stock will begin trading in Tokyo on Friday local...

Valeant reassures investors

Jul 14, 2016 / 2:08 pm
Valeant Pharmaceuticals tried to reassure investors Thursday after its former CEO sold nearly US$100 million of equity in the troubled drug company. The Quebec-based drugmaker said Michael Pearson remains a large shareholder with 3.5 million shares after he dumped US$96.8 million worth of...

Delta's 2Q profit rises

Jul 14, 2016 / 11:17 am
Delta Air Lines Inc.'s second-quarter profit beat expectations despite lower revenue, and the company plans to limit its growth in a bid to push fares higher. Notably, Delta will reduce flights this winter between the U.S. and U.K. partly because of uncertainty over the economic fallout from...

Urged to drop Autopilot

Jul 14, 2016 / 10:49 am
Consumer Reports magazine is calling on electric car maker Tesla Motors to change the name of its Autopilot semi-autonomous driving system and to disconnect the automatic steering feature after a fatal crash in Florida. The magazine says in a statement that calling the system Autopilot promotes...

Bayer ups Monsanto offer

Jul 14, 2016 / 10:48 am
German drug and chemicals firm Bayer increased its offer for U.S. seed company Monsanto Co. on Thursday by $3 a share to $125, saying the move followed several weeks of private talks between the pair. A combination would create a company with a strong presence in the U.S., Europe and...

Losing sight of goals

Jul 14, 2016 / 6:56 am
A new poll from CIBC suggests that some millennials and Generation Xers are losing confidence in their ability to meet their financial goals over the next year. CIBC says 73 per cent of the Canadians it polled say they are confident they will meet their financial goals over the next 12 months...
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