New Zealand bans most foreigners from buying homes amid rise in prices

New Zealand has banned most foreigners from buying homes as it tries to tackle runaway housing prices. The housing market had been open to investors worldwide, but the government on Wednesday passed legislation that allows only New Zealand residents to purchase homes. In recent years, there have been many anecdotal stories of wealthy foreigners from Silicon Valley […]

Ensign Energy Services makes $470M hostile takeover offer for Trinidad Drilling

Shares in Calgary-based Trinidad Drilling Ltd. leaped by almost 15 per cent on Monday after cross-town rival Ensign Energy Services Inc. announced it would make a hostile $470-million cash takeover bid. The offer of $1.68 per share comes less than two weeks after Trinidad announced it would abandon a strategic review that included considering a […]

Canada to review auto emissions rules as U.S. moves to roll back requirements

Canada will review the joint vehicle emissions standards it has with the United States before it decides what to do about the U.S.’s plan to weaken those standards in the coming years. Environment Minister Catherine McKenna will unveil a discussion paper as early as Tuesday to kickstart that review, just days after the White House […]

Why companies are looking to Alberta to produce plastic

The truck traffic at Inter Pipeline’s construction site northeast of Edmonton seems to never stop, nor does the work on the foundation of its $3.5-billion petrochemical complex. It’s full steam ahead for the project, which in roughly four years’ time will begin turning propane into polypropylene — a high-value plastic used in things like chairs, piping, medical equipment and rugs. It will […]

Trump’s inefficiency revolution: Don Pittis

Even as U.S. President Donald Trump crowed last week about an economic growth rate above four per cent, he continued to butt heads with a widely held principle of economics — that success springs from greater and greater efficiency. “I am thrilled to announce that in the second quarter of this year, the U.S. economy grew at the amazing […]

Shopify to open first bricks-and-mortar location in Los Angeles

Canadian e-commerce company Shopify Inc. says it will open its first bricks-and-mortar location in downtown Los Angeles. The Ottawa-based company says it chose L.A. because the area is home to a large number of Shopify merchants who can benefit from the services and community that the space will provide. It will open later this year […]

Sergio Marchionne, hailed for Chrysler and Fiat turnarounds, dead at 66

Sergio Marchionne, a charismatic and demanding leader who engineered two long-shot corporate turnarounds to save both Fiat and Chrysler from near-certain failure, died Wednesday. He was 66. The Exor holding company of the Fiat founding family Agnelli announced Marchionne’s death in Zurich in a statement. “Unfortunately what we feared has come to pass,” Fiat heir […]

U.S. Tim Hortons franchisee group sues RBI over alleged price gouging, equity theft

A group of U.S. Tim Hortons franchisees filed a lawsuit Tuesday alleging their parent company engaged in price gouging and equity theft. Restaurant Brands International “established a very aggressive and improper investment strategy in the Tim Hortons franchisee system, which resulted in the economic squeezing of Tim Hortons franchisees by RBI,” reads the suit filed […]

U.S. launches tariff challenge at WTO against Canada, Mexico, Turkey, China and EU

The United States has launched five separate complaints at the World Trade Organization against Canada, China, the European Union, Mexico and Turkey, in response to retaliatory tariffs those countries and groups have launched against American products. The United States Trade Representative Robert Lighthizer said in a statement Monday that recent tariffs implemented by the U.S. […]

Cineplex to add at least 5 more Void virtual-reality experience centres

Cineplex says it’s adding at least five more immersive, virtual-reality experience centres in Canada over the next several years. The Void Experience Centres combine virtual reality technology and sensory effects, like touch and smell, to give users an immersive experience incorporating movie franchises, like Star Wars and Ghostbusters. Cineplex already operates one of the centres at […]