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CPP Investment Board acquires Liberty Living in U.K for $2.1 billion

Mar 6, 2015 / 1:46 am

TORONTO - The Canada Pension Plan Investment Board (CPPIB) says it has acquired a U.K. student accommodation portfolio for 1.1 billion British pounds ($2.1 billion).The portfolio operates under the Liberty Living brand and was purchased from the Brandeaux Student Accommodation Fund following an...

Freight train loaded with Bakken crude oil derails near Illinois city of Galena, catches fire

Mar 5, 2015 / 8:26 pm

GALENA, Ill. - A freight train loaded with crude oil derailed on Thursday, bursting into flames and prompting authorities to issue a voluntary evacuation order within 1 mile (1.6 kilometres), authorities said.The train derailed around 1:20 p.m. in a rural area where the Galena River meets the...

Silicon Valley gender bias suit puts spotlight on venture capital industry culture

Mar 5, 2015 / 6:08 pm

SAN FRANCISCO - A sex discrimination trial against one of Silicon Valley's most prestigious venture capital firms is providing a rare peek into the elite investment companies vying to fund the next Google and Amazon.Their partnership rosters are stacked with some of the nation's most accomplished...

Mirror, mirror on the wall: Albertans not willing to take blame for fiscal fall

Mar 5, 2015 / 4:02 pm

EDMONTON - Premier Jim Prentice has stirred up a whirlwind of anger by saying Albertans need to "look in the mirror" if they want to know who is responsible for the province's fiscal mess.The Twitter hashtag #PrenticeBlamesAlbertans went viral Thursday with a torrent of sarcasm, memes and outrage,...

Canadian job quality hits 25-year low due to structural decline: CIBC

Mar 5, 2015 / 3:10 pm

OTTAWA - Job quality in Canada has dipped to its lowest level in a quarter century, the result of structural problems in the labour market that could prove difficult to reverse, says a new study by CIBC.The big bank (TSX:CM) said Thursday its employment quality index, which slipped 1.8 per cent...

Fed's 'stress tests' find 31 largest US banks would withstand a severe downturn

Mar 5, 2015 / 3:04 pm

WASHINGTON - All of the nation's 31 largest banks are adequately fortified to withstand a severe U.S. and global recession and keep lending, the Federal Reserve said Thursday.Results of the Fed's annual "stress tests" show that as a group, the 31 banks are stronger than at any time since the 2008...

CBC says review into Amanda Lang's work concludes she met journalistic standards

Mar 5, 2015 / 2:52 pm

TORONTO - The CBC says business reporter Amanda Lang adhered to journalistic standards during her involvement in a 2013 story concerning the Royal Bank of Canada.CBC News Editor-in-Chief Jennifer McGuire sent a memo to staff on Thursday with the results of a review into Lang's involvement in the...

Resolute Forest Products shuts down paper machine at Quebec mill; 85 jobs lost

Mar 5, 2015 / 2:24 pm

MONTREAL - Resolute Forest Products Inc. (TSX:RFP) says it will close a specialty paper machine at its mill in Alma, Que., in a move that will see the loss of about 85 jobs.The Alma paper mill employs 340 people with annual production capacity of 350,000 metric tons of specialty papers across three...

SNC-Lavalin foresees difficult year for core engineering business

Mar 5, 2015 / 2:18 pm

MONTREAL - Embattled engineering and construction firm SNC-Lavalin, which faces criminal fraud and corruption charges, warned Thursday of another difficult year for its core operations.The firm said it is targeting adjusted earnings per share from its core business to be between $1.30 and $1.60 per...

Most actively traded companies on the TSX

Mar 5, 2015 / 1:50 pm

TORONTO - Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (15,103.11, up 20.27 points):Bombardier Inc. (TSX:BBD.B). Aerospace and transportation. Up five cents, or 2.17 per cent, to $2.35 on 11.5 million shares.Encana Corp. (TSX:ECA). Oil and...

PC leadership numbers are in, but they don't add up

Mar 5, 2015 / 1:20 pm

TORONTO - The numbers are in for all of the Progressive Conservative leadership candidates, but they don't add up.The party reports that since the start of the race to replace Tim Hudak party membership has ballooned from about 10,000 to about 80,000.But the total number of memberships the three...

Sun Life says it's set to profit from growing demand for pension risk transfer

Mar 5, 2015 / 12:32 pm

TORONTO - Sun Life Financial (TSX:SLF) hopes its deal to take on $5 billion of pension risk from BCE Inc. (TSX:BCE) will bring it more business from pension plan sponsors looking to offset the possibility of retirees living longer than expected."We've got the expertise now to bring more of these...

Canadian Natural Resources says all options open for Alberta royalty lands

Mar 5, 2015 / 12:28 pm

CALGARY - The president of Canadian Natural Resources Ltd. (TSX:CNQ) says all options are on the table when it comes to squeezing more value out of its Alberta royalty acreage, but keeping the status quo is not at the top of the list.The Calgary-based oil and gas giant could spin off the lands into...

Suppliers gear up to challenge Target Canada's intercompany debt claims

Mar 5, 2015 / 12:06 pm

TORONTO - Suppliers of Target Canada are gearing up for a battle over a $1.9-billion claim from the insolvent retailer that could determine how much is paid out to a long list of creditors.Court filings show that Target Canada says it owes an "early termination payment" to Target Canada Property...

Applications for US unemployment aid reach a 10-month high but still point to solid job gains

Mar 5, 2015 / 12:00 pm

WASHINGTON - The number of people seeking unemployment benefits rose last week to the highest level since May, though the pace of applications remains at a level consistent with steady hiring.Weekly applications rose 7,000 to a seasonally adjusted 320,000, the Labor Department said Thursday. The...

Alberta government to unveil budget, 10-year financial plan on March 26

Mar 5, 2015 / 11:38 am

EDMONTON - The Alberta government says it will bring down its game-changing budget and 10-year financial plan on March 26.Premier Jim Prentice has promised the budget will fundamentally restructure how the province spends and saves money to insulate it from future swings in oil prices.Prentice has...

Oil fields down after attacks

Mar 5, 2015 / 10:02 am

TRIPOLI, Libya - Libya's state-run oil corporation has declared 11 oil fields in the country non-operational after attacks by suspected Islamic State militants, opting for a force majeure clause that exempts the state from contractual obligations. The National Oil Corporation blamed...

US productivity falls at 2.2 per cent rate in fourth quarter, weaker than first estimated

Mar 5, 2015 / 9:56 am

WASHINGTON - U.S. worker productivity was even weaker than first thought from October through December while labour costs rose at a faster rate.Productivity declined at an annual rate of 2.2 per cent in the fourth quarter, weaker than the 1.8 per cent drop that was estimated a month ago, the Labor...

Loonie lower, greenback rises

Mar 5, 2015 / 8:48 am

The Canadian dollar was lower Thursday, giving back all of the strong gain of the previous session on indications the Bank of Canada won't be cutting rates again any time soon. The loonie was down 0.53 of a U.S. cent to 80.01 cents after the Bank of Canada said it was keeping its key rate...

TSX rises amid European economic data

Mar 5, 2015 / 8:26 am

An optimistic take on the European economy and solid earnings news pushed the Toronto stock market higher Thursday. The S&P/TSX composite index gained 85.32 points to 15,168.16 as European Central Bank president Mario Draghi said the ECB had upgraded its growth forecast for the eurozone in...

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Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...

Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...

It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...


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