March 4th, 2024

Business

TD fast-tracking investments to fix anti-money laundering deficiencies: CEO

By Ian Bickis, The Canadian Press on February 29th, 2024

TORONTO – TD Bank Group has identified where its deficiencies in anti-money laundering oversight are and is working to address them, said chief executive Bharat Masrani. “This is a priority for the bank, and we take our responsibility seriously to live up to our high standards. We will continue to mobilize the required resources to ... Read More »

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Ottawa repurposing $10.5B to hike spending on health care, housing over three years

By The Canadian Press on February 29th, 2024

OTTAWA – Treasury Board President Anita Anand says the federal government will repurpose $10.5 billion from the budgets of 69 departments, agencies and Crown corporations in order to hike investments in health care and housing. The details are contained in the government’s main spending estimates, tabled in the House of Commons this morning. The main ... Read More »

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Tribunal to wrap first ‘junk fee’ case over online fees for Cinpelex movie tickets

By Anja Karadeglija, The Canadian Press on February 29th, 2024

OTTAWA – The Competition Tribunal is hearing a second day of arguments Thursday in a case that could decide whether Cineplex can keep charging customers an extra fee for buying movie tickets online. It’s the first time the tribunal is hearing a case involving “drip pricing” since the Competition Act explicitly recognized it as a ... Read More »

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Health-care spending, income tax indexing highlight Nova Scotia budget

By The Canadian Press on February 29th, 2024

HALIFAX – Nova Scotia has tabled a $16.5-billion budget that spends heavily on health care and contains a tax break touted as one of the largest in the province’s history. With projected revenues of $15.8-billion, Finance Minister Allan MacMaster is forecasting a deficit of $467.4-million after an accounting adjustment. The government’s big-ticket cost-of-living measure will ... Read More »

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Highlights from Nova Scotia’s 2024-25 provincial budget

By The Canadian Press on February 29th, 2024

HALIFAX – Highlights of the Nova Scotia government’s provincial budget presented Thursday: – The province is bringing in a $16.5-billion budget, with a projected deficit of $467.4 million. — – Health-care spending is expected to reach $7.3 billion, a 36 per cent increase over the past three years. — – As of Jan. 1, 2025, ... Read More »

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CP NewsAlert: Health-care spending, income tax indexing highlight Nova Scotia budget

By The Canadian Press on February 29th, 2024

HALIFAX – Nova Scotia has tabled a $16.5-billion budget that spends heavily on health care and contains a tax break touted as one of the largest in the province’s history. With projected revenues of $15.8-billion, Finance Minister Allan MacMaster is forecasting a deficit of $467.4-million after an accounting adjustment. The government’s big-ticket cost-of-living measure will ... Read More »

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Best Buy’s shares up after chain posts smaller-than expected sales decline for 4Q

By Anne D'innocenzio, The Associated Press on February 29th, 2024

NEW YORK (AP) – Best Buy’s shares rose on Thursday as the nation’s largest consumer electronics chain posted a smaller-than-expected sales decline for the fiscal fourth quarter, signaling that the bottom of spending on gadgets may be in sight. The Minneapolis-based company reported fourth-quarter profits that were below analysts’ expectations. Best Buy also issued guidance ... Read More »

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MPs summon CEOs of Rogers, Bell and Telus to appear at committee about phone prices

By The Canadian Press on February 29th, 2024

OTTAWA – MPs have voted unanimously to summon the chief executives of Canada’s three largest telecommunications companies to testify at a federal committee as it studies the accessibility and affordability of wireless and broadband services. A motion put forward Wednesday at the House of Commons’ industry committee meeting by NDP MP Don Davies calls on ... Read More »

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First Quantum Minerals completes pair of key financing deals

By The Canadian Press on February 29th, 2024

TORONTO – First Quantum Minerals Ltd. has completed two key financing deals to raise a total of more than US$2 billion that it plans to use to repay other debt and for general corporate purposes. The refinancing comes as the company pursues an international arbitration process over Panama’s decision to effectively shut down the company’s ... Read More »

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CIBC reports $1.73 billion Q1 profit as concerns about mortgages, U.S. offices ease

By Ian Bickis, The Canadian Press on February 29th, 2024

TORONTO – CIBC says it has sorted through the issues in its U.S. office portfolio and that its Canadian mortgage book is performing well as it reported profits that beat analyst expectations. The bank has seen increased scrutiny over concerns about its exposure to the U.S office space, and the higher proportion of its business ... Read More »

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