National Newswatch

Corus Entertainment stock falls, analyst disappointed by pre-Christmas ad outlook

Oct 18 2019 — David Paddon — TORONTO — Corus Entertainment Inc. shares dropped 11 per cent Friday after the TV, radio and studio company announced a lower profit for the fourth quarter and a disappointing preview of the pre-Christmas TV advertising season. The Toronto-based company's B shares were down 65 cents at $5.18 at midday, erasing gains they've made since Oct. 8 […]

Canadian business needs Brexit certainty but Johnson plan only a start: observers

Oct 18 2019 — David Paddon — TORONTO — Experts warn that a post-Brexit United Kingdom will present Canadian business with tremendous uncertainty about billions of dollars worth of trade and investments, no matter how the British Parliament votes on Saturday. The outcome of the unusual weekend vote in London is itself far from predictable, as British Prime Minister Boris Johnson struggles to get support […]

Rogers to launch delivery and mobile phone setup service to Toronto area

Oct 10 2019 — David Paddon — TORONTO — Buying a new phone in Toronto will soon be as easy as ordering it online, having it delivered within hours and set up just the way you want it. A new partnership between Rogers Communications Inc. and California-based Enjoy Technology Inc. will bring a mobile retail concept to Canada's largest city later this month, the companies announced Thursday. […]

Personal use of work smartphone may become more of a tax headache for employers

Oct 10 2019 — David Paddon — TORONTO — The use of a company-supplied smartphone, laptop or other electronic device is commonplace these days, and employers know full well that employees will use them both for work and personal purposes. However, new guidelines from Canada Revenue Agency suggest employers may have to take a fresh look at how much of the cost of these devices can be attributed to their commercial activities. […]

Liberals initial tax on foreign tech giants wouldn’t hit consumers: analysts

Oct 1 2019 — David Paddon — TORONTO — A set of proposed taxes on foreign technology companies that do business in Canada would have little to no immediate effect on subscribers to foreign digital services like Netflix, experts say. Tax experts who have looked at the Liberal platform say it seems to be contemplating two different kinds of new taxation aimed at large multinational technology companies, but provides a clear timetable […]

Large ISPs get temporary stay of CRTC order to slash wholesale internet rates

Sep 30 2019 — David Paddon — TORONTO — The Federal Court of Appeal has issued a temporary stay of a CRTC decision that seeks to force Canada's biggest internet service providers to provide smaller rivals with access to their networks at new, lower wholesale rates. Six of Canada's largest internet service providers, including Bell Canada and Rogers, asked the court on Sept. 13 to overrule […]

BlackBerry stock dives after weak Q2 revenue attributed to legacy software unit

Sep 24 2019 — David Paddon — TORONTO — BlackBerry Ltd. shares suffered their worst one-day loss of the year Tuesday after the company's second-quarter revenue fell short of analyst estimates, blamed on difficulties in a legacy unit that sells software and services to businesses. The weak revenue was mainly confined to a segment that provides software to organizations that require secure communications, such as government agencies and financial services, […]

DHX Media changing name to WildBrain, launches reorganization of company

Sep 23 2019 — David Paddon — TORONTO — DHX Media Ltd. is changing its corporate name to WildBrain, the name of its child-focused YouTube business, which will be renamed WildBrain Spark. "WildBrain Spark now averages more than three billion views per month," new DHX chief executive Eric Ellenbogen said Monday in his inaugural financial report to analysts. The former president and chief executive of […]

HBC Q2 loss grows as retailer repositions to focus on Hudson’s Bay, Saks banners

Sep 12 2019 — David Paddon — TORONTO — Hudson's Bay Co. reported a $984-million loss in its latest quarter as its bottom line was eroded by a number of one-time charges and its flagship Canadian retail banner experienced weaker sales compared with last year. The owner of the Hudson's Bay chain of department stores, as well as the New York-based Saks Fifth Avenue luxury […]

How to tame addiction to subscriptions that can be a hidden drain on finances

Sep 12 2019 — David Paddon — TORONTO — When it comes to spending, it's often easy to overlook the small, routine expenses because they happen without requiring much thought. "We often say that people can nickel and dime themselves to death," says Laurie Campbell, CEO of Credit Canada. "Because it's those small expenses that eat away at your budget." Although there […]

Bianca Andreescu’s historic win celebrated in Canada

Sep 7 2019 — David Paddon — TORONTO — Bianca Andreescu's break-out year, culminating with a historic win in the finals of the US Open, is expected to provide a huge boost to Canadian tennis. "It inspires everyone to pick up a racket, whether it's kids or adults," said Tennis Canada vice-president Tulla Bateman. "Everybody's talking about Bianca." Bateman commented as Tennis Canada prepared […]

Cineplex Q2 gets boost from its media, arcade and Rec Room businesses

Aug 8 2019 — David Paddon — TORONTO — The owner of Canada's largest chain of movie theatres says its strategic diversification into multiple forms of entertainment helped drive the company's second-quarter revenue to a record high $439.2 million. In the main theatre business, Cineplex Inc. said a 1.7 per cent decline in attendance from last year was offset by higher box office revenue per […]

Independent HBC directors say takeover offer from chairman’s group is too low

Aug 2 2019 — David Paddon — TORONTO — A committee of independent directors of Hudson's Bay Co. said Friday that the price per share offered by a group of its largest shareholders is inadequate — although an independent valuation has yet to be completed. The special committee was set up to consider alternatives to the group's June 10 offer of $9.45 cash per common […]