Maker of GMO salmon says it sold 4.5 tonnes in Canada this year but won’t say to whom

Prepared sashimi products is where you’re likely to find genetically modified salmon in Canada, the CEO of AquaBounty Technologies, a Massachusetts-based biotechnology company that produces the fish, told investors Thursday. Ron Stotish wouldn’t say exactly who is buying the company’s product but did tell a group of investors meeting in New York  that it has sold 4.5 tonnes of […]

Tim Hortons owner strips disgruntled franchisee of his licence

The parent company of Tim Hortons seized ownership of four locations from a restaurant owner heading an unsanctioned franchisee group after he allegedly leaked sensitive corporate news to the media. Restaurant Brands International (RBI) says David Hughes, president of the Great White North Franchisee Association, was stripped of his licence to own the restaurants, which […]

If U.S. and Canada sign trade deal after strong GDP growth, interest rates could rise

Canada’s second-quarter growth figures on Thursday will provide the first glimpse of how the economy fared after the U.S. imposed tariffs on Canadian steel and aluminum imports in June. While economists expect June’s gross domestic product (GDP) reading on Thursday to show some impact from the tariffs, it won’t be enough to derail the robust growth that the economy […]

Widespread mislabelling of seafood reported in cities across Canada

An “alarming” rate of seafood in Canadian restaurants and stores is mislabelled, according to a new report by an ocean advocacy group. Oceana Canada, a Toronto-based conservation organization, said it found there was mislabelling with 44 per cent of the seafood samples it tested this year and last in five Canadian cities  — and in 75 per cent of cases, cheaper […]

Lower shipments of cars and car parts push Canadian wholesale sales down in June

Statistics Canada says wholesale sales fell 0.8 per cent in June to $63.1 billion in June. The report was in line with the 0.8 per cent increase economists had expected for the month, according to Thomson Reuters Eikon. The drop came as the motor vehicle and parts subsectors saw sales drop 1.9 per cent to […]

Uber narrows quarterly loss as company polishes tarnished image

Uber is still struggling to make money while the ride-hailing service’s CEO deals with the headaches left behind by his predecessor. The second-quarter results released Wednesday show Uber’s pioneering service continues to reel in more passengers and revenue, despite a variety of debacles that have tarnished its reputation and spurred some disillusioned riders to defect […]

Saputo profit falls as various factors combine to offset higher revenue

Saputo Inc. says its first-quarter profit was down from the same time last year as a result of numerous negative factors including the cost of acquisitions, operating costs, currency fluctuations and prices for some of its products. The Montreal-based company is Canada’s largest cheese maker and one of the largest in the world, with major […]

Fed keeps key rate unchanged while signalling future hikes

The Federal Reserve on Wednesday left its benchmark interest rate unchanged while signalling further gradual rate hikes in the months ahead as long as the U.S. economy stays healthy. The Fed’s widely expected decision left the central bank’s key short-term rate at 1.75 per cent to 2 per cent— the level hit in June when […]

Canadian economy expanding at 2.6% annual pace

Canada’s economy grew by half a per cent in May, almost twice what economists were expecting, partly because of a strong rebound in the oil and gas sector. The country’s gross domestic product expanded by 2.6 per cent in the 12 months up to May, led by growth in mining, quarrying, and oil and gas […]