National Newswatch

Collision tech conference kicks off in Toronto amid industry downturn, layoffs

Jun 21 2022 — Tara Deschamps, The Canadian Press — TORONTO — Collision tech conference attendees filtering through the doors of a Toronto convention centre on Tuesday faced a scene that looked a lot like the pre-pandemic event, but an uneasy atmosphere hung over the crowd. For many, it was their first large-scale conference since COVID-19 cancelled gatherings more than two years ago and it […]

Wealthsimple laying off 13 per cent of staff amid ‘immense volatility’

Jun 15 2022 — Tara Deschamps, The Canadian Press — TORONTO — Wealthsimple is laying off 13 per cent of its workforce as the financial services company joins the slew of global technology businesses facing market "immense volatility." In a letter sent to staff of the Toronto-based business on Wednesday, chief executive Michael Katchen said 159 of the 1,262 people who work for Wealthsimple will […]

Retailers renewed confidence in brick-and-mortar fuelling surge in commercial leases

Jun 8 2022 — Tara Deschamps, The Canadian Press — TORONTO — When the COVID-19 pandemic struck and many abandoned in-person shopping and dining out, brick-and-mortar retail became one of the most undesirable assets in Canada.  But now, as many Canadians no longer fear congregating and vaccine passports have been dropped, real estate firms say retail and restaurant chains are scrambling to pick up space […]

Canadian tech community braces for possible downturn as stocks fall, inflation rises

Jun 6 2022 — Tara Deschamps, The Canadian Press — TORONTO — When Jack Newton looks around the tech sector, he has a sense of whiplash. Over the last two years, tech stocks soared as investors poured money into startups with pandemic-friendly products and services. But in recent months, the head of Burnaby, B.C.-based legal software company Clionoticed the exuberance faded and now some share […]

OSC withdraws some charges against former CannTrust leaders at pretrial hearing

May 25 2022 — Tara Deschamps, The Canadian Press — VAUGHAN, Ont. — Three former CannTrust Holdings Inc. leaders accused of securities offences have had some charges dropped, the Ontario Securities Commission said Tuesday, though the fraud charges remain. The withdrawn charges against Peter Aceto, Mark Litwin and Eric Paul were linked to making false or misleading statements to the Ontario Securities Commission through CannTrust […]

Interest in mortgages from alternative lenders up as rates rise: Brokers

May 24 2022 — Tara Deschamps, The Canadian Press — TORONTO — Canadian homebuyers are increasingly considering credit unions and private lenders to secure mortgages as rates rise, brokers say. They are seeing more Canadians drawn to these lenders as fixed mortgage rates have crept to about four per cent in recent months in many provinces and territories.  Because the qualifying rate on uninsured mortgages […]

Cineplex reports Q1 loss as revenue soars with customers returning to theatres

May 13 2022 — Tara Deschamps, The Canadian Press — TORONTO — Canadians are returning to cinemas after more than two years of COVID-19 measures, handing a revenue bump to the country's largest cinema chain. Cineplex Inc. said Friday that theatregoers' spending on tickets and snacks boosted its first-quarter revenue to $228.7 million, up from $41.4 million in the first three months of 2021. Box […]