February 23rd, 2017

Business

Garth Drabinsky is a changed man, lawyer tells Ontario securities regulator

By Linda Nguyen, The Canadian Press on February 22nd, 2017

TORONTO – Garth Drabinsky should not be further penalized for a fraud committed two decades ago because he is a changed man, his lawyer told the Ontario Securities Commission on Wednesday. The province’s securities regulator began opening submissions in the long-running case against the disgraced theatre mogul, one of the central figures in the Livent ... Read More »

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HBC denies deceptive pricing accusations from competition watchdog

By Aleksandra Sagan, The Canadian Press on February 22nd, 2017

TORONTO – Hudson’s Bay Co. (TSX:HBC) is denying allegations of deceptive pricing practices from Canada’s competition watchdog. The Competition Bureau issued a statement Tuesday alleging HBC offered mattresses and foundations sold together at grossly inflated regular prices and then advertised deep discounts on the sleep sets, suggesting significant deals for customers. The bureau says the ... Read More »

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Competition watchdog announces lawsuit against HBC, alleging deceptive pricing

By The Canadian Press on February 22nd, 2017

OTTAWA – Canada’s competition watchdog says it’s suing Hudson’s Bay Co. (TSX:HBC) over alleged deceptive pricing practices. The Competition Bureau issued a statement alleging HBC offered mattresses and foundations sold together at grossly inflated regular prices. The agency accuses HBC of then advertising deep discounts on the sleep sets to suggest significant deals for customers. ... Read More »

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Stocks slip from record highs as energy companies fall

By Marley Jay, The Associated Press on February 22nd, 2017

NEW YORK – U.S. stocks are mostly lower Wednesday after their recent record-setting run. Energy and industrial companies are slipping and technology stocks, which have risen every day in February, are also down. KEEPING SCORE: The Dow Jones industrial average was little changed at 20,743 as of 11:30 a.m. Eastern time. The Standard & Poor’s ... Read More »

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Russia military acknowledges new branch: info warfare troops

By Vladimir Isachenkov, The Associated Press on February 22nd, 2017

MOSCOW – Along with a steady flow of new missiles, planes and tanks, Russia’s defence minister said Wednesday his nation also has built up its muscle by forming a new branch of the military – information warfare troops. Sergei Shoigu’s statement – which came amid Western allegations of Russian hacking – marked the first official ... Read More »

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North American stock indexes mixed in late morning trading, loonie declines

By The Canadian Press on February 22nd, 2017

TORONTO – North American stock indexes were mixed in late morning trading after setting record highs on Tuesday. The Toronto Stock Exchange’s S&P/TSX composite index was down 37.34 points at 15,885.03 about 90 minutes after the opening bell. In New York, the Dow Jones industrial average was up 10.74 points at 20,753.74. The S&P 500 ... Read More »

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Freshii heads across the pond to United Kingdom

By The Canadian Press on February 22nd, 2017

TORONTO – Freshii Inc. says it is taking its healthy-food eateries across the pond to the United Kingdom. The Toronto-based eatery has partnered with a local Starbucks and Domino’s Pizza franchisee, Anil Patil, who operates 40 and 20 locations of each chain respectively. Freshii (TSX:FRII) had 244 restaurants in North America, South America and Europe ... Read More »

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Newfoundland and Labrador to cut 287 management jobs from civil service ranks

By The Canadian Press on February 22nd, 2017

ST. JOHN’S, N.L. – Newfoundland and Labrador’s Liberal government is cutting 287 management jobs from its civil service. Finance Minister Cathy Bennett said it’s a difficult decision, but the province has to move to create a “flatter, leaner” civil service, resulting in savings of $20 million to $25 million annually. She said 90 of the ... Read More »

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Unilever reviewing options after Kraft Heinz withdraws bid

By The Associated Press on February 22nd, 2017

NEW YORK – Unilever is reviewing options after rival Kraft Heinz withdrew a $143 billion takeover offer. The owner of brands including Hellman’s and Lipton says it is “conducting a comprehensive review of options available” to boost shareholder value quickly. It expects the review to be completed by early April, but did not specify what ... Read More »

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Retail sales fall 0.5 per cent in December as holiday shopping slowed

By The Canadian Press on February 22nd, 2017

OTTAWA – Statistics Canada says retail sales fell 0.5 per cent in December as holiday shopping slowed. The decline followed four consecutive monthly increases. Economists had expected no change for December, according to Thomson Reuters. Sales were lower in nine of the 11 subsectors tracked. Statistics Canada says clothing and clothing accessories stores fell 3.7 ... Read More »

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