Jun 16 2022 — Ross Marowits — The Canadian Press — TORONTO — The federal government is prepared to take further action to address further economic volatility, but Finance Minister Chrystia Freeland wouldn't say if a hard landing for Canada's housing market would be the trigger for such moves. Freeland told reporters Thursday that achieving a soft landing is going to be challenging, but Canada has […]
Sep 23 2021 — Ross Marowits — The SNC-Lavalin legal saga was thrust back into the spotlight Thursday after the RCMP announced they've charged two former executives and the engineering company itself for allegedly paying bribes to obtain a Montreal bridge repair contract. Former SNC-Lavalin vice-president Normand Morin and former SNC-Lavalin International Inc. vice-president Kamal Francis, along with SNC-Lavalin and its subsidiary, […]
Sep 10 2021 — Ross Marowits — TORONTO — The head of Canada's largest private sector labour union has a blunt message for Unifor staff: Get vaccinated or find another job. The union recently advised its 425 staff membersthat they will be placed on an unpaid leave of absence until they get vaccinated against COVID-19. "And if they don't get vaccinated within […]
Aug 8 2021 — Ross Marowits — The Canadian Press — TORONTO — The Canadian business community appears to be largely supportive of the Quebec government's move to impose the country's first vaccine passport system. The Canadian Chamber of Commerce says vaccine passports or digital vaccination certificates would help to prevent future waves of the pandemic from forcing a resurgence of financially disastrous lockdowns by enabling […]
Jun 5 2021 — Ross Marowits — Canada is proceeding with its plan to tax technology giants next year even as the world's wealthiest democracies proposed a new global tax framework that includes plans to impose a levee on the firms, federal Finance Minister Chrystia Freeland said Saturday. Her remarks came following a meeting of G7 finance ministers, who hammered out details […]
Apr 6 2021 — Ross Marowits — Spartan Bioscience Inc. has filed for creditor protection after pausing shipments of its rapid COVID-19 test due to an issue with the product.The Ottawa-based company said some customers were getting a high level of inconclusive results. That's not a safety issue, but it's seeking protection from creditors while it restructures its operations and refines the […]
Apr 5 2021 — Ross Marowits — TORONTO — Transat AT shares plunged as much as 22.6 per cent in the first day of trading after Air Canada pulled the plug on its takeover of the Montreal-based tour operator over Europe's unwillingness to approve the deal.Transat shares decreased to a low of $4.25 and were down 80 cents or 14.6 per cent […]
Apr 2 2021 — Ross Marowits — Transat AT is considering its options after a deal that would have seen Canada's largest airline acquire its smaller travel rival officially died on Friday with word that Air Canada had come to a mutual agreement with Transat to terminate their planned merger. Both companies released statements announcing the termination of the $190 million deal […]
Apr 1 2021 — Ross Marowits — TORONTO — Canadian Pacific Railway is facing scant opposition so far over its US$25-billion bid for Kansas City Southern in a turn of events from prior takeover efforts. Wasatch Railroad Contractors, a rail-oriented business in Wyoming, made the initial filing with the U.S. Surface Transportation Board arguing against the deal. Chairman and CEO John Rimmasch […]
Jan 15 2021 — Ross Marowits — The founder of Alimentation Couche-Tard walked away empty-handed Friday after trying to convince France's finance minister to drop his objection to it acquiring grocery giant Carrefour. Alain Bouchard met with Bruno Le Maire in Paris. His offer of various commitments was not enough to change Le Maire's opposition over food security issues, according to information […]
Jan 4 2021 — Ross Marowits — TORONTO — The federal government is being urged to explicitly prevent Canada's highest-paid CEOs from getting bonuses if their companies obtained wage subsidies. "The wage subsidy in Canada is being changed on an almost monthly basis to tweak it, to improve it, and one of those tweaks should absolutely be that going forward you cannot […]
Dec 4 2020 — Ross Marowits — Pornhub has pushed back against accusations that is allows child sexual abuse materials on its popular online pornography website."Any assertion that we allow (that) is irresponsible and flagrantly untrue," the subsidiary of Montreal-based Mindgeek said in an email Friday."We have zero tolerance for child sexual abuse materials (CSAM). Pornhub is unequivocally committed to combating CSAM, […]
Nov 18 2020 — Ross Marowits — CN Rail may only have to consider another painful round of layoffs if COVID-19's second wave causes shipping volumes to drop dramatically again, its chief executive said Wednesday. "If the economy slows down we might have to have layoffs," Jean-Jacques Ruest said a day after marking the 25th anniversary of the government's privatization of Canadian […]
Jul 3 2020 — Ross Marowits — The Canadian Press — TORONTO — COVID-19 has slammed Canada’s fashion sector like a hurricane, causing serious damage and likely leaving a few casualties in its wake. The mass closing of malls and offices along with the cancellation of celebrations and big events has been devastating, says the head of Harry Rosen, one of the country’s leading men's clothing […]
May 25 2020 — Ross Marowits — TORONTO — Transat AT has extended the timing of its acquisition by Air Canada after European regulators launched an in-depth investigation into the deal over concerns it may reduce competition and result in higher prices. The Montreal-based tour company that owns Air Transat said it informed Air Canada of its decision to delay the transaction […]