CANADA. Business News . In the News ...

Federal government reaches deal with Google on Online News Act
Posted on Wednesday November 29, 2023

Google and the federal government have reached an agreement in their dispute over the Online News Act that would see Google continue to share Canadian news online in return for the company making annual payments to news companies in the range of $100 million.

Canadian oil and gas execs to talk up emissions reduction plans at COP28
Posted on Wednesday November 29, 2023

Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions.

GM scales back electric vehicle and self-driving car plans as new labour deals will cost it $10B
Posted on Wednesday November 29, 2023

General Motors said it is pumping the brakes a little on its plans for electric vehicles and self-driving cars as new labour deals signed with unions in the U.S. and Canada will cost it almost $9.3 billion US.

Panama vows to shut down First Quantum after top court rules against Canadian mining firm
Posted on Tuesday November 28, 2023

Panama's President Laurentino Cortizo on Tuesday said his government would proceed with the shutdown of First Quantum's copper mine after the country's Supreme Court ruled the Canadian miner's contract was unconstitutional.

The 'lipstick index' and the strength of beauty retail amid inflation
Posted on Wednesday November 29, 2023

According to the "lipstick index," cosmetics sales go up during tough economic times as shoppers reach for small treats like lipstick rather than big-ticket items. With Canada's economy teetering on the verge of a possible recession, beauty and skincare sales are up 18 per cent, says market research firm Circana.

Charlie Munger, Warren Buffett's right-hand man, dies at 99
Posted on Wednesday November 29, 2023

Charlie Munger, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, has died at a California hospital. He was 99.

Israel's war with Hamas brings renewed focus to BDS movement and role of boycotts to effect change
Posted on Wednesday November 29, 2023

As the war between Israel and Hamas rages on, consumers and corporations are being drawn into the fight by way of boycotts and other forms of protest.

Scotiabank profit falls as bank sets aside almost $1.3B to cover bad loans
Posted on Tuesday November 28, 2023

The Bank of Nova Scotia said its profit slumped in the fourth quarter for a variety of reasons, including doubling the amount of money the bank sets aside to potentially write off loans that are in danger of not being paid back.

Air Transat faces strike as soon as January after 2,100 workers overwhelmingly vote in favour of walkout
Posted on Monday November 27, 2023

Air Transat's flight attendants are in a position to strike as soon as Jan. 3 after an overwhelming majority voted to give their union a mandate to walk off the job if a new labour deal can't be reached.

George Cohon, founder of McDonald's Canada who brought Big Mac to Soviet Union, dead at 86
Posted on Saturday November 25, 2023

Canadian businessman George Cohon, who founded McDonald's Canada and helped open the fast-food company's first franchise in the Soviet Union, has died, his family said on social media. He was 86.

TD Bank's very bad year in the Maritime seafood business
Posted on Monday November 27, 2023

Three Atlantic seafood companies have faltered financially in 2023 with TD Bank as a secured creditor on loans totalling $39 million.

Finding room for carry-on baggage has become 'the Hunger Games' of air travel, analyst says
Posted on Saturday November 25, 2023

Airline industry insiders say passengers have become carried away with carry-on baggage, leading to costly delays. That’s prompting calls for changes to how airplanes charge for baggage, with some discount airlines like Sunwing and Spirit already beginning to flip the fee structure so passengers pay for the privilege of keeping their bags on board.

Indigenous economy surging toward $100B, Indigenous leaders say
Posted on Saturday November 25, 2023

Indigenous business leaders say a wave of economic development for their communities is rolling across Canada, and they predict that the Indigenous economy will surge to $100 billion a year within a few years. At a conference in Toronto, they discussed how that will happen.

Mastermind Toys gets order for creditor protection, wants to close some stores
Posted on Friday November 24, 2023

Mastermind Toys says it has obtained an initial order for creditor protection from the Ontario Superior Court of Justice as it continues to cope with financial challenges and a slowing economy.

Retail sales up by 0.6 per cent in September, StatsCan says
Posted on Friday November 24, 2023

Retail sales increased 0.6 per cent to $66.5 billion in September, Statistics Canada announced Friday.

Shoppers more cost conscious than ever as Black Friday kicks off holiday spending season
Posted on Friday November 24, 2023

It's Black Friday, and Canadian shoppers have joined the born-in-the-U.S. retail frenzy to hunt for deals. But amid the heavy weight of inflation, shoppers are showing signs of being choosier than usual about where to spend their holiday shopping dollars.

Man alleged to be behind high-interest mortgage scam living large on social media
Posted on Friday November 24, 2023

A man alleged to be connected to a complex scheme that leaves homeowners with high-interest mortgages they say they didn’t want flaunts a luxurious lifestyle on social media, while regulators crack down on lawyers and mortgage brokers alleged to be connected to the scheme.

Alberta Energy Regulator allows Suncor to proceed with wetlands expansion
Posted on Thursday November 23, 2023

The Alberta Energy Regulator says it won't reconsider approvals for Suncor Energy to expand an oilsands mine into a wetland once considered for environmental protection.

The new Canadian Mortgage Charter explained
Posted on Thursday November 23, 2023

In the Fall Economic Statement (FES) the Liberal government unveiled an initiative it called the Canadian Mortgage Charter. What is it and who does it aim to help? The CBC explains.

Past rate hikes may be enough to bring inflation back to target, Tiff Macklem says in speech
Posted on Wednesday November 22, 2023

Bank of Canada Governor Tiff Macklem warns fighting inflation half-heartedly and living with its consequences would be a huge mistake.