Business
Budget pushes measures on open banking, lower fees forward, but timing unclear
By Ian Bickis, The Canadian Press on April 17th, 2024
TORONTO – The federal budget pushed forward several banking sector initiatives, including open banking and lower fees, but had little detail on when changes would actually take effect. Open banking was one of the more closely watched areas by the financial industry. Also called consumer-driven finance, it would allow consumers to securely share their financial ... Read More »
Be the first to comment!Wildfire sparked by pipeline rupture under control; investigation continues
By Amanda Stephenson, The Canadian Press on April 17th, 2024
CALGARY – A wildfire in west-central Alberta that was sparked by a natural gas pipeline rupture Tuesday is under control, but an investigation into what caused the pipeline to break could take months or even years. As of Wednesday morning, there was very little fire activity left in Yellowhead County, where a 10-hectare fire burned ... Read More »
Be the first to comment!Capital gains are going to be taxed more, and these economists say it’s a good thing
By The Canadian Press on April 17th, 2024
OTTAWA – The Liberal government is going to change how capital gains are taxed in Canada, which will affect corporations and the country’s wealthiest individuals. The federal budget presented Tuesday proposes taxing two-thirds rather than one-half of capital gains – which refers to profit made on the sale of assets. The increase in the so-called ... Read More »
Be the first to comment!Feds, advocate square off in court over air passenger refunds
By The Canadian Press on April 17th, 2024
OTTAWA – The federal government and a consumer rights advocate are squaring off in court over whether regulators misled passengers by encouraging travel credit rather than refunds at the onset of the pandemic. In the early months of COVID-19’s spread, airlines cancelled hundreds of thousands of flights and offered company vouchers to customers instead of ... Read More »
Be the first to comment!Wildfire sparked by Alta. pipeline rupture under control; Investigation continues
By The Canadian Press on April 17th, 2024
CALGARY – A wildfire in west-central Alberta that was sparked by a natural gas pipeline rupture Tuesday is under control. Caroline Charbonneau, area information co-ordinator with Alberta Forestry and Parks, says there is very little active fire activity left in Yellowhead County, where a 10-hectare fire burned on Tuesday about 40 kilometres northwest of Edson. ... Read More »
Be the first to comment!Tech industry warns budget’s capital gains proposals could cause ‘irreperable harm’
By Tara Deschamps, The Canadian Press on April 17th, 2024
TORONTO – The federal budget is being met with distain from Canada’s innovation industry, including tech darling Shopify, which both positioned capital gains measures embedded in the fiscal plan as a potential cause of “irreparable harm.” The sector is disappointed thatthe Liberals’ budget tabled Tuesday includes a proposed increase to the proportion of capital gain ... Read More »
Be the first to comment!Boeing put under Senate scrutiny during back-to-back hearings on aircraft maker’s safety culture
By David Koenig, The Associated Press on April 17th, 2024
Boeing was the subject of dual Senate hearings Wednesday as Congress examined allegations of major safety failures at the embattled aircraft manufacturer, which has been pushed into crisis mode since a door-plug panel blew off a 737 Max jetliner during an Alaska Airlines flight in January. The Senate Commerce Committee heard from members of an ... Read More »
Be the first to comment!S&P/TSX composite up in late-morning trading, U.S. stock markets fall
By The Canadian Press on April 17th, 2024
TORONTO – Canada’s main stock index was up in late-morning trading, helped by strength in base metal and technology stocks, while U.S. stock markets moved lower. The S&P/TSX composite index was up 49.60 points at 21,692.47. In New York, the Dow Jones industrial average was down 67.44 points at 37,731.53. The S&P 500 index was ... Read More »
Be the first to comment!Tech industry warns budget’s capital gains proposals could cause ‘irreparable harm’
By The Canadian Press on April 17th, 2024
TORONTO – The federal budget has not won support from Canada’s tech industry. The sector is disappointed in the Liberals’ proposal to increase the proportion of capital gain earnings businesses pay income tax on to two-thirds from one half. The government is also proposing the increase be applied to individuals for capital gains earnings exceeding ... Read More »
Be the first to comment!Boeing in the spotlight as Congress calls a whistleblower to testify about defects in planes
By David Koenig, The Associated Press on April 17th, 2024
Boeing is the subject of back-to-back Senate hearings Wednesday, as Congress examines allegations of major safety failures at the embattled aircraft manufacturer. The Senate Commerce Committee heard from members of an expert panel that found serious flaws in Boeing’s safety culture. Sen. Ted Cruz, R-Texas, said the public wants the Federal Aviation Administration and Congress ... Read More »
Be the first to comment!Engine Capital backs Simpson Oil’s call for strategic review at Parkland
By The Canadian Press on April 17th, 2024
CALGARY – An activist investor has sent a letter to the board of directors at Parkland Corp. backing a call from the company’s largest shareholder for a strategic review at the fuel retailer. U.S.-based Engine Capital LP says it supports a request by Simpson Oil Ltd. asking that Parkland conduct a review of strategic alternatives ... Read More »
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