Bombardier cutting 5,000 jobs, selling Q Series aircraft

Bombardier has announced measures that will result in 5,000 job losses, half of which will be in Quebec, over the next 12 to 18 months.  The Montreal-based company said Thursday morning the measures will result in $250 million in annual savings. It also announced it will sell its Q Series turboprop aircraft program to Longview Aviation Capital for […]

Shares in major cannabis companies sell off sharply

The biggest cannabis companies in Canada all sold off sharply on Monday, as investors pulled money out of the sector. Canopy Growth, Aurora Cannabis, Aphria and Tilray are the four biggest names in the sector, and all saw double-digit percentage declines. Canopy Growth lost more than 11  per cent to close at $54.46 on the TSX, while Aurora Cannabis […]

Stronach lawsuit lays bare family dispute over control of businesses

A lawsuit by business magnate Frank Stronach that seeks $520 million in compensation and damages against his daughter, two grandchildren and others has laid bare a two-year-old dispute about control and direction of the family firm. Stronach, who created Magna International and built it into a global auto-parts giant, alleges in the lawsuit filed in Ontario […]

Explosion, fire at Saint John oil refinery injures several contractors

Several Irving Oil contractors are being treated for non-life threatening injuries following an explosion and fire at the refinery in Saint John on Monday morning, officials said. “We now understand that all employees and contractors working on site have been safely accounted for,” the company posted on Twitter around 2 p.m. AT, about four hours after residents reported a […]

How investor confidence in Canada improved in just one remarkable week

What a difference a week can make. Canada has been in a rut with enticing companies and investors to see the country as a good place to do business. Investment began to fall four years ago and pessimism grew further when Donald Trump began putting up trade walls around the United States. Declining investment has put a strain […]

SEC settlement could be just the beginning of more turmoil at Tesla

Elon Musk, the brash tech multi-billionaire with the badass reputation, has been chastened but not broken. The chairman and chief executive of Tesla Inc. settled a case brought by the U.S. Securities and Exchange Commission (SEC), which accused him of deliberately misleading investors through a series of social media postings back in August. The settlement, which […]

Cathay Pacific pokes fun at self after misspelling its own name on a plane

Pictures of a giant typo on a Cathay Pacific jet in Hong Kong have been making the rounds online, but the company is keeping its sense of humour. The images, which were first circulated among a group of Hong Kong aviation enthusiasts, show one of the airline’s new planes on the ground at Hong Kong’s […]

Kinder Morgan hires TD to sell Canadian business, say sources

Kinder Morgan Inc. has hired investment bank TD Securities to facilitate a potential sale of its Calgary-based Canadian business, which could fetch the U.S. pipeline operator as much as $2.4 billion, people familiar with the situation told Reuters this week. The move comes about two weeks after Kinder Morgan closed its sale of the Trans […]

Scotiabank CEO: U.S.-Mexico breakthrough is a positive, relieves ambiguity

Scotiabank’s CEO believes this week’s breakthrough in trade talks between the United States and Mexico is positive for the bank as it relieves some of the lingering uncertainty about the fate of the North American Free Trade Agreement. “We look forward to the next piece of NAFTA being solved, hopefully in a number of weeks, […]

Environment minister sends Canso spaceport company back to drawing board

Nova Scotia’s environment minister says she can’t make a decision whether to approve a proposed rocket launch site near Canso, N.S., because the company behind the project has not provided sufficient information. In a decision released late Thursday afternoon, Margaret Miller said Maritime Launch Services (MLS) must conduct more studies and prepare a more comprehensive report “to […]