B.C. government adds $50K to province’s effort to win Amazon’s new headquarters

B.C. government adds $50K to province’s effort to win Amazon’s new headquarters
VANCOUVER — B.C.’s government is contributing $50,000 to support Metro Vancouver’s effort to woo Amazon into selecting the city as the site for its second headquarters. “I want to ensure that Amazon H2Q comes to British Columbia,” said Premier John Horgan at the Union of BC Municipalities convention in Vancouver on Friday. The cash influx will help Metro Vancouver partners,... Read More

Financials give TSX a minor boost, loonie down amid flat GPD numbers for July

Financials give TSX a minor boost, loonie down amid flat GPD numbers for July
TORONTO — Canada’s largest stock index posted a minor gain today, while the loonie fell amid the latest GDP numbers released by Statistics Canada. The S&P/TSX composite index advanced 16.69 points to 15,634.94, lead mainly by financials. Statistics Canada reported that gross domestic product was essentially unchanged at zero per cent growth in July compared with June, a development that... Read More

Despite benefits boost, feds post $100-million deficit through four months

Despite benefits boost, feds post $100-million deficit through four months
OTTAWA — The federal Finance Department says the government ran a $100-million deficit through the first four months of the current fiscal year, a significant decline from the same period last year. Between April and July 2016, the Liberals had posted a deficit of $2.8 billion. The government’s monthly fiscal monitor says the smaller deficit figure is the result of... Read More

Valeant Pharmaceuticals shares trading higher after $930M sale iNova business

Valeant Pharmaceuticals shares trading higher after $930M sale iNova business
LAVAL, Que. — Shares of Valeant Pharmaceuticals Inc. are up nearly six per cent after the company announced it has completed the sale of its iNova Pharmaceuticals business for $930 million in cash. The Quebec-based company says it will use net proceeds of about $920 million from the sale to reduce its debt. CEO Joseph Papa said the sale of... Read More

WTO appoints panel to review Bombardier CSeries subsidies

WTO appoints panel to review Bombardier CSeries subsidies
MONTREAL — Bombardier Inc. sustained another blow Friday as the World Trade Organization formally established a panel to review CSeries subsidies at the request of Brazil’s Embraer S.A., just days after the U.S. imposed massive duties after its American rival petitioned its government. The establishment of a dispute settlement panel comes a month after consultations with Canada failed to resolve... Read More

Bill Morneau’s town hall meeting on small business tax changes turns heated

Bill Morneau’s town hall meeting on small business tax changes turns heated
OTTAWA — Canada’s finance minister got a grilling today from taxpayers who are boiling mad about the Liberal government’s proposed tax changes for small businesses. Bill Morneau was in Oakville, Ont., for a town-hall meeting where a question-and-answer session boiled over more than once into a shouting match. Morneau sat silently as person after person approached the microphones in the... Read More

Kinder Morgan Canada asks for relief on pipeline condition to avoid project delay

Kinder Morgan Canada asks for relief on pipeline condition to avoid project delay
CALGARY — Kinder Morgan Canada has asked the National Energy Board to waive an approval condition of the Trans Mountain pipeline expansion because it might delay completion of the project. Shawn Denstedt, a lawyer at Osler, Hoskin & Harcourt representing Kinder Morgan Canada subsidiary Trans Mountain, said in a letter to the NEB that it needs to be allowed to... Read More

Canada’s economy pauses in July, StatCan says, easing rate hike expectations

Canada’s economy pauses in July, StatCan says, easing rate hike expectations
OTTAWA — Canada’s eight-month march of monthly growth in the economy came to an end in July, according to Statistics Canada, a development that could head off more rate hikes this year. Gross domestic product was essentially unchanged, at zero per cent growth in July compared with June, Statistics Canada said Friday. Economists said the lack of growth in July... Read More

RBC says housing affordability measure worst since 1990, Toronto hits worst level ever

RBC says housing affordability measure worst since 1990, Toronto hits worst level ever
Housing affordability in Canada hit the worst level in 27 years in the second quarter of this year, according to a Royal Bank of Canada report. RBC Economics said in a report Friday that its housing affordability measure for Canada deteriorated for the eighth straight quarter. The Toronto area was the hardest hit, where RBC says affordability declined the most... Read More