GM cuts will be painful but better now than during a recession: Don Pittis

“It could have been worse,” will be of no comfort to those affected by the shutdown and job losses at General Motors. It has been a shock to affected families and to the communities where plants are closing. “It’s going to affect the province, it’s going to affect the region,” said Oshawa, Ont., mayor John Henry after hearing […]

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.” […]

Greater fool theory comes back to haunt bitcoin and tech stocks: Don Pittis

So, when a speculative investment plunges in value, where does the money go?  As bitcoin crashes to year-long lows, as tech stocks give up their entire 2018 gains and as global oil prices tumble to a level not seen since October 2017, it is common to to hear investing being compared to playing roulette. Sometimes, it’s harder […]

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 […]

Medical cannabis patients anxious and fearful over supply shortages

Can’t find any weed to buy for a party this weekend? Don’t complain. Canadians who use cannabis for medical reasons are being hit by shortages in a far worse way.   “It’s actually more than a supply issue, really it’s something of a health crisis now,” says James O’Hara of the patient advocacy group Canadians […]

Is German FlixBus the fix for Canada’s bus woes?

For many, the signature silver dog of Greyhound is the symbol of bus travel.       But that iconic image might be replaced by a more colourful logo if the European bus line FlixBus gets access to Canada’s intercity bus markets. FlixBus runs lime green buses that have a pair of orange arrows emblazoned on their sides. It launched U.S. […]

Misleading sales practices not a ‘systemic’ problem, telecom firms tell CRTC

Canada’s cable and internet companies are defending themselves against claims they have been misleading their customers and using aggressive sales tactics to sell services they may not want or need. Four companies — Videotron, SaskTel, Cogeco Communications and Telus — appeared before the CRTC on Thursday. The commission is holding five days of hearings, investigating the […]

‘Mismatch’ between what telco customers expect and what they actually get, CRTC told

Government-ordered hearings into complaints about Canada’s largest telecommunications providers got underway Monday with an industry-funded ombudsman saying his group has limited insight into problem sales practices. The Commission for Complaints for Telecom-Television Services — a private-sector body — has found the biggest problem is a “mismatch” between what customers expect and what they actually get, […]

Bargain price oil: How long will it last?

As oil from Alberta and Saskatchewan continues to sell at record discounts, American refineries are enjoying lucrative profit margins at the expense of Canadian oil producers. The sharp drop in oil prices began in late September and is expected to continue for roughly another month. The culprit is limited export pipeline space and refinery maintenance outages in the U.S. […]

U.K. opposition Labour plans to give workers a third of seats on company boards

Britain’s main opposition Labour Party would require large companies to reserve at least one third of the seats on their boards for workers, party leader Jeremy Corbyn said on Sunday. Labour said in a statement that the current corporate governance structure which gives priority to shareholder interests over others was feeding a short-term corporate culture and holding back economic growth. “In […]