November 25th, 2020

Business

Cadillacs probed for suspension failure that led to crashes

By The Associated Press on November 11th, 2020

DETROIT – The U.S. government’s road safety agency is investigating complaints that the rear suspensions on some older Cadillac SUVs can fail, causing drivers to lose control and possibly crash. The probe by the National Highway Traffic Safety Administration covers about 344,000 Cadillac SRX SUVs from the 2010 through 2015 model years. The agency says ... Read More »

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TikTok asks court to intervene as Trump order looms

By Matt O'Brien, The Associated Press on November 11th, 2020

The popular video-sharing app TikTok, its future in limbo since President Donald Trump tried to shut it down earlier this fall, is asking a federal court to intervene. TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August. Trump in September gave his ... Read More »

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Minority investors quick to reject proposed sale of Great Canadian Gaming to Apollo

By David Paddon, The Canadian Press on November 11th, 2020

TORONTO – Great Canadian Gaming Corp.’s agreement to be acquired for $3.3 billion by a U.S. private equity firm was quickly rejected Wednesday by some of the casino operator’s minority shareholders. Apollo Global Management Inc. has agreed to pay $39 per share for the company – a price that Great Canadian’s chief executive says is ... Read More »

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S&P/TSX composite up more than 100 points, U.S. stock markets also post early gains

By The Canadian Press on November 11th, 2020

TORONTO – The industrial, telecom and utility sectors helped lead the way higher as Canada’s main stock index posted a triple-digit advance in early trading, while U.S. stock markets also rallied. The S&P/TSX composite index was up 102.62 points at 16,717.99. In New York, the Dow Jones industrial average was up 54.49 points at 29,475.41. ... Read More »

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Asia Today: Hong Kong, Singapore OK quarantine-free travel

By The Associated Press on November 11th, 2020

Hong Kong and Singapore will start an air travel bubble at the end of November, allowing travellers from each city to visit the other without entering quarantine in a first step to stimulate tourism amid the coronavirus pandemic. Starting Nov. 22, visitors from either city must have a negative virus test result before they leave, ... Read More »

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Aimia reports $10.8M Q3 loss compared with $16.9M profit a year ago

By The Canadian Press on November 11th, 2020

TORONTO – Aimia Inc. reported a loss in its latest quarter compared with a profit a year ago. The company says it lost $10.8 million or 15 cents per share for its third quarter which ended Sept. 30. That’s compared with a profit of $16.9 million or 11 cents per share in the same quarter ... Read More »

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CGI reports fourth-quarter profit down from year ago, revenue edged lower

By The Canadian Press on November 11th, 2020

MONTREAL – CGI Inc. reported its fourth-quarter profit fell more than 20 per cent compared with a year ago as it was hit by a restructuring charge. The business and technology consulting firm says it earned $251.9 million or 96 cents per diluted share for the quarter ended Sept. 30 compared with a profit of ... Read More »

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Private equity firm Apollo Global Management buys Great Canadian Gaming

By The Canadian Press on November 11th, 2020

TORONTO – Great Canadian Gaming Corp. says it has signed a deal to be bought by a U.S. private equity firm that values the casino operator at $3.3 billion. Apollo Global Management Inc. has agreed to pay $39 per share for the company. Great Canadian Gaming shares closed at $28.91 on the Toronto Stock Exchange ... Read More »

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Business Beat: What’s old, is new again

By medicinehatnews on October 14th, 2020

Infill development. It’s an idea and practice that cities across North America are embracing, and with good reason. Infrastructure such as roads, water mains, and sewer lines are costly for municipalities when developing new sub-divisions. Infill improvement allows developers to capitalize on existing infrastructure through increased densification that can increase a city’s property tax base. ... Read More »

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Loonie moves higher on election day in possible signal of Liberal minority

By Ross Marowits, The Canadian Press on October 21st, 2019

TORONTO – Canada’s main stock index moved higher on election day with an appreciation in the loonie possibly signalling a Liberal minority government, says a markets analyst. With the Bank of Canada not expected to lower interest rates, the Canadian dollar is up on anticipation of fiscal stimulus prompted by Liberal leader Justin Trudeau seeking ... Read More »

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