November 14th, 2018

Business

HBC won’t say why Saks Off Fifth store at Montreal Eaton Centre is cancelled

By The Canadian Press on November 12th, 2018

TORONTO – Hudson’s Bay Company says it and mall developer Ivanhoe Cambridge have mutually agreed to no longer open a Saks Off Fifth location at the Montreal Eaton Centre. The Toronto-based department store chain owner tells The Canadian Press that plans for the location have been abandoned “due to a number of factors,” but refused ... Read More »

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Bombardier defends CEO’s absence from special meeting following 5,000 layoffs

By The Canadian Press on November 12th, 2018

MONTREAL – Bombardier is defending its chief executive, Alain Bellemare, who stood out in his absence from a special meeting to take stock of the 2,500 jobs in Quebec that the company plans to cut. Spokesman Olivier Marcil says the company did not “hide” Bellemare and that his boss has a “schedule that is very, ... Read More »

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Amazon HQ favourites: Similar basics, different vibes

By Jennifer Peltz And Matthew Barakat, The Associated Press on November 12th, 2018

NEW YORK – The communities said to be favoured to become homes to a pair of big, new East Coast bases for Amazon are both riverfront stretches of major metropolitan areas with ample transportation and space for workers. But there are plenty of differences between New York’s Long Island City and Crystal City in northern ... Read More »

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Athenahealth fetches $5.7 billion cash buyout offer

By Tom Murphy, The Associated Press on November 12th, 2018

Athenahealth shares soared Monday after the struggling medical billing software maker received a $5.7 billion cash buyout offer. Veritas Capital and Evergreen Coast Capital plan to give athenahealth shareholders $135 per share in a deal that will take the company private. That represents a roughly 12 per cent premium over the closing price of athenahealth ... Read More »

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Toronto stocks lower on broad-based decline, U.S. stocks also sink

By The Canadian Press on November 12th, 2018

TORONTO – Canada’s main stock index was lower in late-morning trading, hit by a broad-based decline including losses in the key industrial, material and financial sectors, while U.S. markets also sank lower. The S&P/TSX composite index was down 112.61 points at 15,161.83. In New York, the Dow Jones industrial average was down 341.89 points at ... Read More »

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Canada hoping to solve U.S. tariff dispute by G20 meetings at month’s end: PM

By The Canadian Press on November 12th, 2018

WASHINGTON – Prime Minister Justin Trudeau says he’s hopeful that Canada can resolve its tariff dispute with the United States by the end of the month. That’s when leaders of the G20, including Trudeau and U.S. President Donald Trump, will gather for their annual meeting, which is taking place this year in Buenos Aires. According ... Read More »

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Bombardier-Alstom to supply Montreal with 153 metro cars in $448-million order

By The Canadian Press on November 12th, 2018

MONTREAL – A Bombardier-Alstom consortium says it will supply Montreal’s transport agency with 153 more Azur metro cars in an order approaching a half-billion dollars. Montreal-based Bombardier Inc. and French rail giant Alstom say the contract comprises 17 trains of nine cars each, and amounts to $447.7 million. Bombardier’s share adds up to $281 million, ... Read More »

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Aurora Cannabis reports revenue surge in Q1, ‘strong’ legal pot sales

By Armina Ligaya, The Canadian Press on November 12th, 2018

TORONTO – Cannabis producer Aurora Cannabis Inc. reported a surge in revenues between July and September, and “strong” recreational pot sales since Canada legalized marijuana for adult use last month. The Edmonton-based company posted revenue in what was the first quarter of the company’s 2019 financial year of $29.7 million, more than triple the $8.2 ... Read More »

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CEO out at cosmetics maker Coty

By The Associated Press on November 12th, 2018

NEW YORK – The top executive at the New York cosmetics maker Coty is leaving less than a week after revealing that significant supply chain problems sapped revenue during the first quarter. The company said Monday that CEO Camillo Pane, who led the company for two years, resigned for family reasons. Pierre Laubies, who last ... Read More »

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MTV acquires SnowGlobe Music Festival

By The Associated Press on November 12th, 2018

NEW YORK – MTV is expanding its live events business in the U.S. by acquiring the SnowGlobe Music Festival. The three-day New Year’s Eve festival takes place in South Lake Tahoe, California. This year’s lineup includes Above & Beyond, Diplo, Eric Prydz, Rezz and RL Grime headlining among more than 40 artists. SnowGlobe will also ... Read More »

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