National Newswatch

Danier Leather enters insolvency as it seeks a buyer

Feb 4 2016 — Peter Henderson, The Canadian Press — TORONTO — Danier Leather Inc. said it has entered insolvency proceedings in order to protect itself from creditor lawsuits as it seeks a buyer. The well-known retailer of leatherwear and accessories said the move was necessary because of ongoing financial problems, including more than $27 million in financial losses over the last two years despite its best efforts […]

TSX, loonie soar as oil prices rebound; U.S. indexes mixed

Feb 3 2016 — Peter Henderson, The Canadian Press — TORONTO — The Canadian dollar soared to its biggest one-day gain in nearly four years  Wednesday as volatile oil prices turned sharply higher and the Toronto stock market posted a triple-digit gain. The loonie ended the day up 1.32 U.S. cents at 72.61 cents US. The increase was the most for the currency since rising 1.4 cents against the greenback […]

Plunging loonie could be boon for startups seeking venture capital

Jan 20 2016 — Peter Henderson, The Canadian Press — TORONTO — Industry watchers say the tumbling loonie is a blessing in disguise when it comes to Canadian startups and the innovation economy as U.S. venture capitalists look to make their investments go further. As the resource boom that helped fuel Canadian growth over the past decade continues to go bust, Canada's commodity-sensitive currency has lost nearly 40 per […]

Netflix cracks down on proxy services used by customers to access foreign content

Jan 14 2016 — Peter Henderson, The Canadian Press — TORONTO — Netflix says it's planning on cracking down on users who use virtual private networks and proxy services to view content not available in their countries. Many of the company's distribution deals with major studios and content providers are negotiated on a regional basis, meaning certain titles are only available to users in certain countries. […]

Shaw to sell media arm to Corus for $2.65 billion as it seeks a new competitive strategy

Jan 13 2016 — Peter Henderson, The Canadian Press — TORONTO — Shaw Communications is selling its media division to Corus Entertainment for $2.65 billion, dividing the Shaw telecom empire into separate media and network companies as it moves to sharpen its focus. Analysts say the deal should help Shaw (TSX:SJR.B) fund its $1.6-billion purchase of Wind Mobile, announced in December, and positions the Calgary-based cable, Internet and satellite TV […]

Royal Canadian Mint sells digital payments platform to Toronto startup

Jan 12 2016 — Peter Henderson, The Canadian Press — TORONTO — The Royal Canadian Mint is ending its experiment with digital payments, selling off its MintChip platform to Toronto-based financial startup nanoPay. The government agency developed MintChip as a secure way to send and spend money online, launching the project in April 2012 and showing off its first implementation in 2014. Consumers could use MintChip with […]

Shaw mobile app latest signal of strategy shift

Jan 7 2016 — Peter Henderson, The Canadian Press — TORONTO — Shaw Communications Inc. has launched a new mobile TV app, the latest in a series of moves by the cable company to diversify its business as consumers cut the cord and opt for Internet-based services such as Netflix. For much of the last decade Shaw (TSX:SJR.B) was the odd one out among Canada's big telecom […]

Loonie falls to lowest level since 2003 as oil slides; TSX posts triple-digit loss

Jan 6 2016 — Peter Henderson, The Canadian Press — TORONTO — The Canadian dollar ended the day at its lowest point in more than 12 years on Wednesday as worries over global economic growth continued to roil equity markets worldwide and drag down commodity prices. The oil-sensitive loonie closed down 0.46 of a U.S. cent at 71.02 cents U.S. after falling below 71 cents earlier in the day. That marked the dollar's […]

Shifting winds of winter in recent years ferment fear for icewine industry

Jan 4 2016 — Peter Henderson, The Canadian Press — TORONTO — A late deep freeze this winter may have lifted the spirits of Ontario's icewine industry, but the province's grape growers say bigger questions about the impact of a changing climate are creeping up on their business. Canada is one of the few countries where temperatures in wine-growing regions drop to the -8 C required for icewine. Laura Sabourin, […]

Manitoba Telecom Services sells Allstream business for $465M as it refocuses on core business

Nov 23 2015 — Peter Henderson, The Canadian Press — TORONTO - Manitoba Telecom Services has reached a deal to sell its Allstream subsidiary, which analysts say was an albatross around the company's neck as it deals with fierce competition from the national incumbents.MTS (TSX:MBT) said on Monday that it's signed a deal to sell its Allstream business to Boulder, Colo.-based Zayo Group Holdings Inc. […]