U.S. faces deadline to extradite Huawei exec from Canada

U.S. authorities are facing a key deadline at the end of the month to formally request the extradition of Huawei executive Meng Wanzhou from Canada to the United States. On Friday, a spokesperson for Canada’s Justice Department said the U.S. had yet to file the required paperwork in the Meng case and stated the Americans […]

A Brexit lesson in economics for Canadians hoping to profit from anger: Don Pittis

Growing fears of the economic repercussions of the U.S. government shutdown have led smug Canadians to scoff that it couldn’t happen here. But Britain’s descent into even greater economic chaos and uncertainty over whether or how to leave Europe offers a timely reminder that the parliamentary system Canada shares with the U.K. is no protection against the poisonous effects of […]

‘Some assembly required’: Cannabis grow pods turn into new business opportunity for Winnipeg company

About six months ago, Delta 9 Cannabis CEO John Arbuthnot was busy getting ready for the looming legalization of cannabis. There was the behind-the-scenes planning for his company’s first retail pot store, the creation of supply agreements with other cannabis sellers, and then the expansion of Delta 9’s secure growing facility in east Winnipeg. Then Arbuthnot […]

Shareholders sue Google parent company Alphabet, accusing it of covering up sexual misconduct claims

Two shareholder lawsuits filed this week accuse the board of Google parent Alphabet of playing a direct role in covering up sexual misconduct claims against two former executives over the last five years. The company declined to comment. Both of the lawsuits seek to force Google to change its governance and oversight to stop future workplace conduct […]

U.S. Fed chair plays Scrooge as markets tumble following latest rate hike: Don Pittis

With his long face and expressive grimaces, Federal Reserve chair Jerome Powell might have played a powerful Ebenezer Scrooge, the repentant anti-hero of Charles Dickens’s A Christmas Carol. Certainly that is how stock markets seemed to see him yesterday after the U.S. central banker hiked rates for the fourth time this year. Powell and his team of […]

Western oil price rally unlikely to last after curtailments begin: expert panel

It’s unlikely a dramatic improvement in western Canadian oil prices since Alberta announced forced production curtailments two weeks ago will continue after the cuts begin on Jan. 1, 2019, a panel of experts agreed Thursday. The difference between Western Canadian Select bitumen-blend heavy oil and New York-traded West Texas Intermediate oil prices had widened to […]

Quarterly profit rises 10% at Bank of Nova Scotia

The Bank of Nova Scotia’s fourth-quarter earnings got a lift from its international operations, but fell just shy of expectations as Canada’s third-largest lender announced a plan to sell its banking operations in nine Caribbean countries. Scotiabank said Tuesday it has signed an agreement to sell its banking operations in nine markets — including Grenada, […]

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 […]

New Flyer sends 90 jobs to Kentucky to meet U.S. content rules

Winnipeg-based bus manufacturer New Flyer will lay off 90 people and move the jobs to Shepherdsville, Ky., to deal with increasingly tighter Buy America regulations. New Flyer Industries president Paul Soubry said Buy America rules passed in 2015 under the U.S. Fixing America’s Surface Transportation (FAST) Act demanded 60 per cent U.S. content in buses sold to American […]

Ready for anything — the business advantage of military experience: Don Pittis

Maybe Jay McArthur would never have had a chance to start his Brighton, Ont., home inspection business had he not stopped on the way to the shower in 2007 to use the phone at his military base in Afghanistan. As it turns out his call home went unanswered, and McArthur, who would later retire with […]