CN Rail, First Nation plan to break ground on new ‘bitumen puck’ facility this year

As a puck made of oilsands bitumen was tossed into the air, railway executive James Auld joked, “we almost had an oil spill there.” Auld and other officials were upbeat as they gave their first public presentation on the pucks — a solid product similar to coal that can float in water.  CN Rail and an Alberta First […]

Stock exchanges opt for lottery to award POT ticker symbol to some lucky company

Canadian stock exchanges have decided to award the rights to use the “POT” ticker symbol via a lottery, after a deluge of requests for the marijuana-related moniker. After what the exchanges call “significant interest” in using the symbol, the Canadian Securities Exchange, the Toronto Stock Exchange, the TSX Venture Exchange, and the Aequitas Exchange have jointly […]

‘We’re coming back’: Sydney Call Centre to hire ServiCom employees

More than 600 workers in Sydney, N.S., are celebrating an early Christmas after abruptly losing their jobs nearly two weeks ago. Marlowe Companies Inc. (MCI) confirmed Tuesday night it hopes to have people working by Jan. 2 at the former ServiCom centre, which will reopen as The Sydney Call Centre Inc. U.S.-based Marlowe Companies won an auction earlier this week to take over […]

GM working to retrain employees affected by Oshawa plant closure

General Motors of Canada is working with other employers to identify jobs and targeted training programs for GM employees affected by plans to close the Oshawa Assembly plant next year, the truck and auto maker said Friday. It says several employers have identified about 2,000 jobs that will become open in Durham region in 2019 […]

Toronto, Vancouver most ‘vulnerable’ to interest rate hikes: CMHC

Canadians living in the country’s two largest cities may find themselves more “vulnerable” to interest rate increases as personal debt levels in Toronto and Vancouver continue to hit record levels, warns a Canada Mortgage Housing Corporation report. The housing agency says the debt-to-income (DTI) ratio for those living in Vancouver climbed to 242 per cent […]

Marriott admits to data breach affecting up to 500 million hotel guests since 2014

The information of as many as 500 million guests at Starwood hotels has been compromised, and Marriott said that it’s discovered that unauthorized access within its Starwood network has been taking place since 2014. The company said Friday that credit card numbers and expiration dates of some guests may have been taken. For as many […]

Workers at Oshawa assembly plant suspend work as GM announces closure

Thousands of General Motors assembly plant workers in Oshawa, Ont., halted production this morning before hearing the devastating news that the automaker plans to close the facility in 2019. It’s not clear how many of the 2,500 employees will lose their jobs as part of a global restructuring move to lower carbon emissions and prepare for a […]

Want it tomorrow? Some online shopping habits are terrible for the environment

Have you ever picked two-day shipping because it’s free with an Amazon Prime membership? Or returned an item of clothing using the free return shipping label because you weren’t sure which size to buy, so you bought more than one? What you may not have realized is those convenient perks can drastically expand the carbon […]

Oil bottlenecks pose ‘extraordinary’ challenge for Western Canadian energy sector: report

Alberta’s “ongoing and acute” issues with getting crude to market pose an “extraordinary” challenge for the province’s energy sector, says a new report from Scotiabank Economics. But it says the provincial government must set a “high” bar for intervening directly in the energy sector, adding it should only be done in “an effort to prevent extreme value destruction.” […]

Mortgage stress test rules may be pushing borrowers towards unregulated lenders

The Bank of Canada released data this week that shows stricter mortgage rules along with higher interest rates have helped slow the growth of risky mortgages, but some economists question whether over-leveraged borrowers are simply turning to the unregulated mortgage market. The central bank’s analysis said tougher mortgage qualification tests have helped to drastically cut the […]