Business
Court hears arguments in civil suit filed by Frank Stronach’s granddaughter
By The Canadian Press on August 8th, 2024
An Ontario Superior Court is hearing arguments in a lawsuit filed by the granddaughter of billionaire businessman Frank Stronach, who is seeking an order compelling the family business to disclose any documents that might exist related to complaints of sexual misconduct against him and settlements involving complainants. Lawyers representing Selena Stronach are arguing that media ... Read More »
Be the first to comment!Airfares could rise after Calgary hailstorm forces WestJet to cancel flights: experts
By Christopher Reynolds, The Canadian Press on August 8th, 2024
Experts say airfares may go up in the immediate aftermath of a hailstorm that tore through Calgary on Monday evening, damaging WestJet planes and upending travel plans for thousands of passengers. Hailstones as big as golf balls pummelled the tarmac, forcing the airline to ground 10 per cent of its fleet for major repairs and ... Read More »
Be the first to comment!Quebecor calls on regulator to address network access issues as it pushes expansion
By Ian Bickis, The Canadian Press on August 8th, 2024
Quebecor Inc. says it’s pushing Canada’s telecom regulator to help resolve network access issues that are holding back the Quebec-based company’s expansion plans. The company has been making use of the mobile virtual network operator system, which allows telecom companies to offer cellphone service through rival carriers’ networks, but chief executive Pierre Karl Péladeau said ... Read More »
Be the first to comment!B.C. judge refuses cash award to claimant who takes part in ‘underground economy’
By The Canadian Press on August 8th, 2024
SURREY, B.C. – A provincial court judge in Surrey, B.C., has thrown out a small claims case between a lumber company and a fence building firm over an “unlawful scheme” between the two to avoid paying GST and PST. The principal of Top Quality Lumber Ltd., Amarjit Dhaliwal, told the court in June that H ... Read More »
Be the first to comment!Court approves Postmedia bid for insolvent Atlantic newspaper chain
By The Canadian Press on August 8th, 2024
HALIFAX – The Nova Scotia Supreme Court has approved Postmedia’s $1-million bid to acquire Atlantic Canada’s largest newspaper chain. Justice John Keith ruled today that the proposal is “reasonable and fair,” clearing the way for the Toronto-based media company to buy the insolvent SaltWire Network Inc. and The Halifax Herald Ltd. Earlier, a lawyer representing ... Read More »
Be the first to comment!CP NewsAlert: Court approves Postmedia bid for Atlantic newspaper chain
By The Canadian Press on August 8th, 2024
HALIFAX – The Nova Scotia Supreme Court has approved Postmedia’s $1-million bid to acquire Atlantic Canada’s largest newspaper chain. Justice John Keith ruled today that the proposal is “reasonable and fair,” clearing the way for the Toronto-based media company to buy the insolvent SaltWire Network Inc. and The Halifax Herald Ltd. Earlier, a lawyer representing ... Read More »
Be the first to comment!Brookfield Corp. reports US$2.13B in Q2 distributable earnings, up from a year ago
By The Canadian Press on August 8th, 2024
TORONTO – Brookfield Corp. reported distributable earnings of US$2.13 billion in its latest quarter, up from US$1.19 billion in the same quarter last year. The investment firm, which keeps its books in U.S. dollars, says the result amounted to US$1.35 per share for the quarter ended June 30, up from 75 cents per share a ... Read More »
Be the first to comment!Maple Leaf Foods reports $26.2M Q2 loss as company prepares to spin off pork business
By Rosa Saba, The Canadian Press on August 8th, 2024
Maple Leaf Foods Inc. reported a loss of $26.2 million in its latest quarter compared with a loss of $53.7 million a year earlier as it prepares to spin off its pork business. The Mississauga, Ont.-based meat producer and processor’s president and CEO Curtis Frank told analysts on a call Thursday that investor reaction to ... Read More »
Be the first to comment!Tim Hortons parent RBI sees Q2 profit lift despite ‘softer consumer environment’
By Tara Deschamps, The Canadian Press on August 8th, 2024
TORONTO – The owner of Canada’s most recognizable fast-food chain managed to grow its profit in its most recent quarter, even as a pullback in consumer spending that’s long been roiling retailers cropped up in the quick-serve market. The chief executive of Restaurant Brands International Inc. said his company’s brands – Tim Hortons, Burger King, ... Read More »
Be the first to comment!Bank of Canada names experts to assess its internal review of pandemic policy actions
By The Canadian Press on August 8th, 2024
OTTAWA – The Bank of Canada has named three experts that will assess its internal review of the central bank’s policy response to the COVID-19 pandemic. The experts are Pablo Hernández de Cos, former governor of the Bank of Spain, Kristin J. Forbes, a former member of the Bank of England’s monetary policy committee and ... Read More »
Be the first to comment!Average rate on a 30-year mortgage falls to 6.47%, lowest level in more than a year
By Alex Veiga, The Associated Press on August 8th, 2024
The average rate on a 30-year mortgage fell this week to its lowest level in more than a year, a welcome affordability boost for prospective homebuyers and homeowners looking to refinance their home loan to a lower rate. The rate fell to 6.47% from 6.73% last week, mortgage buyer Freddie Mac said Thursday. A year ... Read More »
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