Canadian Prime Minister Justin Trudeau has nothing but praise for Bombardier Inc.’s struggling CSeries jet, saying it’s a superior plane that his government wants to become a national “success story.” Quebec, Ontario premiers get together to push Ottawa to help fund Bombardier Inc The premiers of Canada’s two most populous provinces have joined forces to push for federal help for ...
Read More »From a billion dollars to zero: Canada stands alone in G7 as it empties its coffers of gold
Canada is among the largest gold producers on the planet, but as of last month the government valued its official holdings of the precious metal at zero. The country sold 21,851 ounces of coins in February, the Finance Department said Thursday inside a disclosure of its official international reserves. A footnote in the report said the federal government continues to ...
Read More »Canada needs to move quickly on trade deals to help counteract shocks to economy: study
OTTAWA – With the federal budget only weeks away, a new study is urging the government to quickly ratify trade agreements with Europe and Pacific nations and refocus efforts to grow so-called knowledge-based services. “Going forward, trade can be a powerful antidote towards the effects of the oil price shock and other domestic vulnerabilities, such as high personal debt, by ...
Read More »Target Canada reaches deal with former landlords as it nears vote on plan
TORONTO – Target Canada Co. said Friday it’s reached an agreement with its former landlords whose leases were terminated included in the company’s intends to shut down its Canadian stores. The retailer said the settlement supplies a framework for a resolution of its court-supervised windup and deals with the landlords’ claims against both Target Canada and Target Corp. Under the ...
Read More »Lawyers clash at hastily called OSC hearing to discuss shareholder Catalyst’s complaint over Corus-Shaw deal
Lawyers clashed Friday afternoon in a hastily called regulatory hearing as dissident investor Catalyst Capital Group Inc. launched an 11th hour bid to delay next week’s shareholder vote on Corus Entertainment’s proposed $2.65-billion takeover of Shaw Media. Catalyst alleges Corus made “material misstatements” within the information that was presented to shareholders concerning the financial underpinnings and benefits of the proposed ...
Read More »Bad energy loans hit oilpatch equipment prices as banks try to sell assets of insolvent companies
CALGARY C Prices for used industrial equipment in Western Canada are falling as banks look for a method of getting money out of progressively more delinquent loans in oil-producing provinces. “Recent auction results have included generally softer pricing in secondary markets, designed for specialized equipment,” Canadian Western Bank president and CEO Chris Fowler said during his company’s quarterly earnings call ...
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