Big telcos hike internet prices amid soaring demand, revenues

You can run but you can’t hide from internet price hikes. That’s what Sean Barry in Powell River, B.C., learned after leaving his provider, Shaw, following a couple of price increases. He switched to competitor Telus in September only to discover that the cost of his current Telus internet plan is also going up — by $5 a month. “I […]

California utility, battered and blamed in wildfires, filing for bankruptcy protection

Pacific Gas and Electric said it plans to file for bankruptcy protection amid potentially massive liabilities resulting from the deadly California wildfires. The announcement Monday follows the resignation of the company’s chief executive, Geisha Williams, a day earlier. John Simon, the company’ general counsel since 2017, will serve as interim chief executive. Officials are investigating whether […]

Home Capital shares sell off after Berkshire Hathaways discloses it’s sold most of its stake

Shares in Canadian mortgage company Home Capital fell as much as 18 per cent on Wednesday after word came out that Warren Buffett’s company Berkshire Hathaway had sold most of its stake in the company. Home Capital’s TSX-listed shares were changing hands at just over $14 on Wednesday, off by more than $2 from Tuesday’s close […]

Google accelerating demise of Plus after new security flaw affected 52 million

Google is still having trouble protecting the personal information on its Plus service, prodding the company to accelerate its plans to shut down a little-used social network created to compete against Facebook. A privacy flaw that inadvertently exposed the names, email addresses, ages and other personal information of 52.5 million Google Plus users last month […]

U.S. stocks plunge following Huawei arrest

Stocks are plunging again as the arrest of a senior Chinese technology executive threatened to worsen trade tensions between Beijing and Washington. A steep drop in Boeing, which would suffer in an extended trade battle, helped drag the Dow Jones Industrial Average down more than 600 points Thursday morning, rebounding slightly in the early afternoon. […]

Trump’s ‘tariff man’ talk spooks investors, sends stock markets plunging

Stock markets fell precipitously on Tuesday as weekend optimism that the U.S. and China could de-escalate their trade war fell by the wayside. The Dow Jones Industrial Average fell more than three per cent, or 799 points, to 25,027. The broader S&P 500 fared even worse, losing 88 points to close just above 2,700. And the technology-heavy Nasdaq was […]

Canadian steel buyers racing to get imports into country through tariff exemptions

Canadian steel buyers are racing to get construction steel into the country to claim first-come, first-serve exemptions from tariffs that were meant to stabilize the country’s market in the wake of U.S. President Donald Trump’s metals tariffs. With steel prices already high, the companies that fabricate steel structures used in major building projects say the […]

Eye-roll nation: Why our sympathy for economic pain often stops at provincial borders

You could almost hear Albertans’ eyes roll in unison this week, as Unifor president Jerry Dias exited a meeting with Prime Minister Justin Trudeau, stood before the national press gallery and described the auto-manufacturing sector as the “most important industry in the country.” The sense out west was: Of course an Ontarian would say that. It’s understandable how Albertans could […]

Nissan board fires chair Ghosn following arrest

Nissan’s board voted unanimously to oust its chair, Carlos Ghosn, on Thursday after the shock arrest of the industry heavyweight, ushering in a period of uncertainty for its 19-year alliance with Renault. The Japanese firm said its board also voted to remove Greg Kelly — who, like Ghosn, has been arrested after allegations of financial misconduct — from his post as representative director. The […]