September 25th, 2018

Business

Deloitte report warns of productivity hit from lingering ‘zombie firms’

By The Canadian Press on September 18th, 2018

TORONTO – A new report raises concerns about the number of lingering low-productivity firms in Canada that are hindering overall economic growth. The report by consultancy Deloitte says at least 16 per cent of Canadian public companies fall into the category of so-called zombie firms – more than 10 years old but unable to cover ... Read More »

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Trade war escalates as China announces tariffs on US imports

By Joe McDonald, The Associated Press on September 18th, 2018

BEIJING – The U.S.-China trade war escalated further Tuesday, with China announcing retaliatory tax increases on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals. The increases are in response to the U.S. announcing it will impose tariffs on $200 billion worth of Chinese-made goods starting next week. The tariffs will start ... Read More »

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Liberal riding association president blindsided by MP’s defection

By The Canadian Press on September 18th, 2018

OTTAWA – The president of an Ontario Liberal riding association says he had no prior knowledge of an MP’s decision to leave the government benches for the official Opposition. Clayton Haluza, who leads the Aurora-Oak Ridges-Richmond Hill riding association, says in a statement it was “with disappointment” he learned Leona Alleslev felt the need to ... Read More »

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Indigenous leaders describe ties to Churchill River at Muskrat Falls inquiry

By The Canadian Press on September 18th, 2018

HAPPY VALLEY GOOSE BAY, N.L. – Indigenous leaders testifying at the Muskrat Falls inquiry in Happy Valley-Goose Bay today are sharing their historical connection to the Churchill River, where the massive Labrador dam will eventually harness power. Carl McLean, speaking on behalf of the Nunatsiavut government, opened the day’s proceedings with an oral history of ... Read More »

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Marijuana producer Aurora Cannabis says there is no beverage deal to announce

By The Canadian Press on September 18th, 2018

EDMONTON – Aurora Cannabis Inc. says it has not signed a deal with respect to any partnership with a drink company. In a report based on anonymous sources, BNN Bloomberg reported Monday that Aurora was in serious talks with the Coca-Cola Company. The marijuana company says it does engage in exploratory talks with industry participants ... Read More »

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China raises tariffs on $60B of US goods in technology fight

By Joe McDonald, The Associated Press on September 18th, 2018

BEIJING – China on Tuesday announced a tariff hike on $60 billion of U.S. products in response to President Donald Trump’s latest duty increase in a dispute over Beijing’s technology policy. The announcement followed a warning by an American business group that a “downward spiral” in their conflict appeared certain following Trump’s penalties on $200 ... Read More »

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EU investigates German carmakers for possible collusion

By Lorne Cook And David McHugh, The Associated Press on September 18th, 2018

BRUSSELS – European Union regulators have opened an in-depth investigation into whether automakers BMW, Daimler and Volkswagen colluded to limit the development and roll-out of car emission control systems. The EU Commission said Tuesday that it had received information that BMW, Daimler, Volkswagen, and VW units Audi and Porsche held meetings to discuss clean technologies ... Read More »

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TREB to allow realtors to post GTA home sales data on Tuesday at noon

By The Canadian Press on September 18th, 2018

TORONTO – The Toronto Real Estate Board says real estate companies can post Greater Toronto Area home sales data on their password-protected websites today at noon. TREB chief executive John DiMichele says the data can only be posted on such sites to provide residential real estate brokerage services. The board will not allow the data ... Read More »

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Statistics Canada reports manufacturing sales rose 0.9 per cent in July

By The Canadian Press on September 18th, 2018

OTTAWA – Statistics Canada says manufacturing sales increased 0.9 per cent in July to $58.6 billion, boosted by the transportation equipment and chemical industries. Economists had expected an increase of 0.6 per cent, according to Thomson Reuters Eikon. The growth came as sales in 11 of 21 industries climbed higher. The transportation equipment industry rose ... Read More »

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Bond-rating agency gives Nova Scotia its highest credit rating yet

By The Canadian Press on September 18th, 2018

HALIFAX – The Nova Scotia government says Standard and Poor’s has upgraded the province’s long-term credit rating to its highest ever. In a news release, the province says the rating was upgraded from A+ to AA-, with a stable outlook. The province says the bond rating agency cited “strong fiscal management,” and that Standard and ... Read More »

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