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 […]

How much do we owe, and what are we doing about it?

This story is part of a series we’re calling Debt Nation, looking at the state of consumer debt in Canada. Look for more coverage in the coming days, including on car loans, mortgages and credit card debt. Canadians are positively swimming in debt. More than $2 trillion, in fact, according to the latest numbers from […]

Trudeau to unveil carbon tax plan for provinces that don’t comply

Prime Minister Justin Trudeau will unveil Tuesday the federal government’s plan for wayward provinces that do not comply with the national climate plan. That plan, brokered with most provinces roughly two years ago, includes a carbon tax on greenhouse gas emissions as part of a larger effort to tackle climate change. Trudeau has said the federal […]

Estée Lauder seeks to kick Deciem founder out of cosmetics company

Lawyers for Estée Lauder were in a Toronto court today trying to kick out the founder of a small Canadian cosmetics company they bought a stake in last year, the latest twist in the dizzying saga of one of the fastest growing names in beauty products. The fashion and beauty conglomerate was seeking an injunction […]

Swoop adds $149 flights to Mexico out of Hamilton and $159 flights from B.C.

Ultra low cost airline Swoop is adding routes to Mexico out of Hamilton’s John C. Munro International Airport, flying twice weekly to Puerto Vallarta International Airport, and three times weekly service to Cancun International Airport. Flights begin on Jan. 8, 2019, and Jan. 14, 2019, respectively. Swoop will also be flying from Abbotsford, B.C. to Puerto Vallarta starting […]

Calgary-based Husky Energy makes $6.4B bid to acquire MEG Energy

A major merger could be in the works in Canada’s oil patch. Husky Energy Inc. is making a hostile bid to acquire MEG Energy Corp. in a transaction valued at $6.4 billion. In a statement issued Sunday afternoon, Husky says the proposed merger “will create a stronger Canadian energy company.” The new, Calgary-based operation would […]

Shopify CEO says he can’t project demand for online marijuana sales

The CEO of the company helping to run online marijuana sales for Ontario and B.C. said he is unable to project demand for cannabis once it becomes legal for recreational use on Oct. 17. “There is an entire building in Ottawa — Stats Can — that is oriented around trying to collect as much data around […]

Barrick Gold buys Africa’s Randgold to become world’s biggest gold miner

Toronto based Barrick Gold has agreed to buy Randgold Resources for $6.1 billion in stock to create the world’s largest gold miner. Investors will get 6.128 new Barrick shares for each Randgold share they hold. Shareholders in Barrick will own about 66.6 per cent of the merged company, which will combine Randgold’s African mines with Barrick’s holdings in the […]

Canadian business titan and Calgary Flames co-owner Clay Riddell dies

Clay Riddell, the billionaire oil baron and co-owner of the Calgary Flames, has died at age 81. Riddell founded multiple oil and gas companies during his career, including Paramount Resources in 1974. He was the president and CEO until his son Jim took over the business in 2015. His daughter is also an oil titan in her own […]

Hurricane costs increasing as more people choose to live in their path

As Hurricane Florence begins to hit South Carolina, the latest estimates on its intensity are coming in slightly lower than previous forecasts. But the financial toll is still likely to be steep, in no small part because it’s scheduled to hit coastal areas with extensive and expensive real estate. Risk analytics firm CoreLogic says almost a million […]