January 18th, 2018

Business

Loblaw, CRA face off in court in dispute that could cost grocery giant $404M

By Armina Ligaya, The Canadian Press on January 17th, 2018

TORONTO – Loblaw Companies Ltd. and the Canada Revenue Agency faced off in a Toronto court Wednesday in a $404-million dispute involving allegations that the grocery giant’s Barbadian banking subsidiary was misused for tax avoidance. The Tax Court of Canada hearing focused on Barbados-based Glenhuron Bank Ltd. was largely procedural ahead of a trial due ... Read More »

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Ontario may provide public sectors with more minimum wage help: Wynne

By The Canadian Press on January 17th, 2018

BARRIE, Ont. – Ontario’s Liberal government has put millions of dollars toward helping licensed child-care centres and developmental services cope with a minimum wage increase, and the premier says help for other such publicly funded sectors may be on the way. The minimum wage rose on Jan. 1 to $14 an hour from $11.60 The ... Read More »

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Bombardier won’t confirm pending order in Iran 10 CRJ900 regional jets

By The Canadian Press on January 17th, 2018

MONTREAL – Bombardier Inc. will not confirm a published report in Iran that the Canadian planemaker is finalizing its first commercial aircraft order in the Middle Eastern country. The Quebec-based company has acknowledged in the past that it was exploring opportunities in Iran. Chief executive Alain Bellemare said more than a year ago that he ... Read More »

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Bank of Canada hikes interest rate on strong economy, but underlines NAFTA risks

By Andy Blatchford, The Canadian Press on January 17th, 2018

OTTAWA – The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer – but looking ahead it warned of growing uncertainties about NAFTA. The central bank pointed to unexpectedly solid economic numbers as key drivers behind its decision to hike the rate ... Read More »

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Canada-US women’s group created by Trudeau, Trump issues first proposals

By Alexander Panetta, The Canadian Press on January 17th, 2018

WASHINGTON – A Canada-U.S. women-in-business group created by Prime Minister Justin Trudeau and U.S. President Donald Trump released its first set of recommendations Wednesday, proposing more affordable child care and a new binational procurement initiative. It’s the first of five anticipated reports from the Canada-U.S. Council for Advancement of Women Entrepreneurs and Business Leaders, created ... Read More »

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Watch what you buy? Canadian brands hope web series will entice new customers

By David Friend, The Canadian Press on January 17th, 2018

TORONTO – Viewers who stumble across the Canadian YouTube series “Upstairs Amy” might not realize it at first, but the comic foibles of its working-mom star are actually part of an elaborately constructed advertisement. Not until three-and-a-half minutes into the show does Walmart Canada and payment transaction company Interac reveal they’re behind each episode. By ... Read More »

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Royal Bank raises prime lending rate to 3.45% in wake of Bank of Canada decision

By The Canadian Press on January 17th, 2018

TORONTO – The Royal Bank of Canada (TSX:RY) is raising its prime lending rate by a quarter of a percentage point in the wake of the Bank of Canada’s decision to raise its key interest rate target. The increase raises RBC’s rate to 3.45 per cent, effective Thursday. Changes in the prime rate affect variable-rate ... Read More »

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Manitoba Tory backbencher held fundraiser at men-only club

By Steve Lambert, The Canadian Press on January 17th, 2018

WINNIPEG – Manitoba Premier Brian Pallister says he won’t weigh into a debate over a squash club that doesn’t allow women to become members and where one of his backbenchers held a fundraiser. “I do respect it’s a private organization. Private organizations have to make their own rules. They’ll have to decide, I suppose, on ... Read More »

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Apple to build 2nd campus, hire 20,000 in $350B pledge

By The Associated Press on January 17th, 2018

SAN FRANCISCO – Apple is planning to build another corporate campus and hire 20,000 workers during the next five years as part of a $350 billion commitment to the U.S. economy. The pledge announced Wednesday is an offshoot from the sweeping overhaul of the U.S. tax code championed by President Donald Trump and approved by ... Read More »

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Loblaw, CRA face off in court in $404M dispute

By The Canadian Press on January 17th, 2018

TORONTO – Loblaw Companies Ltd. and the Canada Revenue Agency faced off in a Toronto court today, the latest in an ongoing battle involving allegations that the grocery giant’s Barbadian banking subsidiary was misused for tax avoidance. The case involving Barbados-based Glenhuron Bank Ltd. was the focus of the Tax Court of Canada hearing, which ... Read More »

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