Cyber thieves make off with hundreds of thousands of dollars in attack targeting Coast Capital Savings

Coast Capital Savings says 140 members had money stolen from their accounts during a targeted cyber fraud attack in November and December of last year.   The credit union doesn’t know exactly how much is missing but said the loss to each victim was “typically in the magnitude of between $3,000 and $6,000,” meaning thieves got away with many hundreds of thousands of […]

U.S., China leave next steps for trade talks unclear

The United States says talks in Beijing on ending a bruising trade war focused on Chinese promises to buy more American goods. But it gave no indication of progress on resolving disputes over Beijing’s technology ambitions and other thorny issues. China’s Ministry of Commerce said Thursday the two sides would “maintain close contact.” But neither […]

Passenger bill of rights may let airlines ‘off the hook’ without an ombudsman: advocate

A consumer rights advocate is frustrated Canada’s proposed new air passenger bill of rights doesn’t include plans for an independent body that will review passenger complaints. Highlights of the proposed new regulations were released earlier this week. “The most polite thing I could say is that we’re disappointed in what is being produced. After all this […]

Toronto, Vancouver most ‘vulnerable’ to interest rate hikes: CMHC

Canadians living in the country’s two largest cities may find themselves more “vulnerable” to interest rate increases as personal debt levels in Toronto and Vancouver continue to hit record levels, warns a Canada Mortgage Housing Corporation report. The housing agency says the debt-to-income (DTI) ratio for those living in Vancouver climbed to 242 per cent […]

China pressures U.S., Canada as bail hearing for Huawei exec resumes

China raised the pressure on the United States and Canada as a bail hearing for a top Chinese technology executive resumed Monday in Vancouver. A headline in a Communist Party newspaper called Canada’s treatment of Meng Wanzhou, the chief financial officer of Huawei Technologies, “inhumane.” The Global Times editorial published in Monday’s edition followed formal […]

Unemployment reaches 40-year low with 94,100 new jobs added in November

A blast of 94,100 new jobs last month has knocked the country’s unemployment rate down to 5.6 per cent — its lowest level since Statistics Canada started measuring comparable data more than 40 years ago. The overall number marked the labour force survey’s largest monthly increase since March 2012, when there was a gain of […]

Amid oil price crisis, major energy producer says Canada’s largest pipeline system is ‘dysfunctional’

Canadian Natural Resources is doubling down on its concerns about wasted space on Canada’s biggest oil pipeline, blaming a “dysfunctional” process as one reason for slashing its spending plans next year. It follows complaints the company’s executive vice chairman Steve Laut made last month, saying current rules allow “certain players” to exploit the system by booking pipeline […]

Hydro One takeover of Avista scrapped by Washington state regulators over political interference

Washington state regulators say they have denied Hydro One Ltd.’s proposed takeover of Avista Corp., citing political interference in the Ontario utility by the Doug Ford government. The Washington Utilities and Transportation Commission says it found the deal, which valued Avista at $6.7 billion, to not be in the public interest after it became clear […]

Sears pensioners hope to recoup their losses in $509M lawsuit

A court decision has given Sears Canada retirees hope they can recoup some of the millions of dollars missing from the now-defunct retailer’s underfunded pension plan.  An Ontario Superior Court judge on Monday gave the green light to two lawsuits targeting U.S. billionaire businessman, Eddie Lampert and his hedge fund, ESL Investments, in connection with $509 million in dividends […]

Sleep Country Canada buys online mattress firm Endy for $89M

Sleep Country Canada has agreed to buy online mattress seller Endy for $89 million. The two companies announced a deal Thursday evening that will see the retail mattress chain buy the Canadian mattress maker for $63.7 million in cash now, plus up to another $25 million in three years if certain growth and profitability targets are achieved. […]