Business
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 »
Be the first to comment!Tesla to ask shareholders to reinstate $55 billion pay package for Musk rejected by Delaware judge
By The Associated Press on April 17th, 2024
AUSTIN, Texas (AP) – Tesla will ask shareholders to reinstate a compensation package for CEO Elon Musk potentially worth $55 billion that was rejected by a judge in Delaware this year and to move the electric car maker’s corporate home from Delaware to Texas. In a filing with federal regulators early Wednesday, the company said ... Read More »
Be the first to comment!Federal budget announces measures for open banking, predatory lending and bank fees
By The Canadian Press on April 17th, 2024
OTTAWA – The federal budget announced several measures affecting the banking sector, including long-promised details about a framework for open banking. Open banking is a system that would allow consumers to easily access their financial data across multiple institutions, apps and services. The specifics will come with legislation to be tabled before the end of ... Read More »
Be the first to comment!TC Energy pipeline rupture sparks wildfire near Edson, Alta.
By Amanda Stephenson, The Canadian Press on April 16th, 2024
CALGARY – A natural gas pipeline owned by TC Energy Corp. ruptured near Edson, Alta. on Tuesday afternoon, sparking a wildfire. The Calgary-based pipeline operator said in a statement it was alerted at approximately 11 a.m. Tuesday of an “incident” on its NGTL pipeline system in Yellowhead County, about 40 kilometres northwest of Edson and ... Read More »
Be the first to comment!Western Forest Products indefinitely curtails Alberni Pacific Division facility
By The Canadian Press on April 16th, 2024
VANCOUVER – Western Forest Products Inc. says it’s indefinitely curtailing operations at its Alberni Pacific Division facility. The Vancouver-based company says the facility has been temporarily curtailed since the fall of 2022. In January 2023, Western Forest Products confirmed the mill would not restart “in its current configuration.” It started a working group to explore ... Read More »
Be the first to comment!Unifor withdraws Amazon union applications, citing ‘suspiciously high’ employee data
By The Canadian Press on April 16th, 2024
VANCOUVER – Unifor says it’s temporarily withdrawing its applications to represent workers at two Vancouver-area Amazon facilities, accusing the e-commerce giant of providing a “suspiciously high” employee count. The union announced last week it had filed two applications with the B.C. Labour Relations Board to represent workers at fulfilment centres in New Westminster and Delta. ... Read More »
Be the first to comment!TC Energy responding to pipeline incident near Edson, Alta.
By The Canadian Press on April 16th, 2024
CALGARY – TC Energy Corp. says it is actively responding to an incident involving its NGTL natural gas pipeline system in west-central Alberta. The Calgary-based pipeline company did not provide further details about the nature of the incident, which it said took place approximately 40 kilometres northwest of Edson, Alta. in Yellowhead County. TC Energy ... Read More »
Be the first to comment!Liberals raise capital gains tax on wealthiest Canadians to pay for agenda
By Nojoud Al Mallees, The Canadian Press on April 16th, 2024
OTTAWA – Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, thanks to higher-than-expected government revenues and new taxes that largely offset billions in new spending. Freeland presented the federal budget in the House of Commons in the afternoon, which pledges $53 billion in new spending that ... Read More »
Be the first to comment!Higher tobacco and vaping taxes offsets drug plan spending in federal budget
By Laura Osman, The Canadian Press on April 16th, 2024
OTTAWA – The federal government expects that its latest effort to discourage Canadians from smoking, contained in the federal budget tabled Tuesday, will generate $1.7 billion in new revenue. That increased cash flow happens to coincide with the launch of a new $1.5-billion drug plan offering universal coverage for contraceptive and diabetes medications. Both programs ... Read More »
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