The top executive at Sobeys asserted on Monday that Canada has one of the most competitive grocery retail sectors on the planet, even as Canadians continue to feel the bite of higher prices and Ottawa looks for solutions. NDP agriculture critic says he's not impressed by grocers' plans to stabilize …
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Canopy Growth books $30M from sales of Biosteel assets
Canopy Growth Corp. says the aggregate gross proceeds from selling off its sports drink business total $30.4 million. Company went into insolvency proceedings a few weeks ago Canopy Growth Corp. says the aggregate gross proceeds from selling off its sports drink business total $30.4 million. The Smiths Falls, Ont., cannabis …
Read More »BMO raises dividend, even as profits slump and loan loss provisions increase
BMO Financial Group raised its dividend as it reported its fourth-quarter profit fell compared with a year ago. Quarterly payout to shareholders rises from $1.47 to $1.51 from now on BMO Financial Group raised its dividend as it reported its fourth-quarter profit fell compared with a year ago. The bank …
Read More »Canada added 25,000 jobs last month, StatsCan says
Canada's economy added 25,000 new jobs in November, Statistics Canada reported Friday. Jobless rate ticks up to 5.8% Canada's economy added 25,000 new jobs in November, Statistics Canada reported Friday. Despite the slight increase in jobs, the unemployment rate inched up to 5.8 per cent, as more people were looking …
Read More »Emirates is first airline to test 100% sustainable fuel on A380
Emirates Airline is now the world’s first airline to operate an A380 demonstration flight using 100 percent Sustainable Aviation Fuel (SAF). The flight took off from Dubai International Airport (DXB) with one of four engines powered on 100 percent SAF, helping demonstrate its potential as a drop-in replacement that matches …
Read More »Big banks announce layoffs and more bad loans as TD, Royal and CIBC post quarterly results
Three of Canada's biggest lenders posted quarterly earnings on Thursday, and as was the case at Scotiabank earlier in the week, they're all putting a lot more money aside to cover loans that potentially might go bad. TD, CIBC eliminate thousands of jobs; RBC, Scotia previously announced similar layoffs Latest …
Read More »Canada’s economy shrank by 0.3% in third quarter, StatsCan says
Canada's economy shrank in the three months up to September, as household spending was flat and exports declined. Upward revision of numbers for previous quarter now show growth Canada's economy shrank in the three months up to September, as household spending was flat and exports declined. Statistics Canada reported Thursday …
Read More »Canadian oil and gas execs to talk up emissions reduction plans at COP28
Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions. Fossil fuel industry will have position of prominence at this year's climate summit …
Read More »GM scales back electric vehicle and self-driving car plans as new labour deals will cost it $10B
General Motors said it is pumping the brakes a little on its plans for electric vehicles and self-driving cars as new labour deals signed with unions in the U.S. and Canada will cost it almost $9.3 billion US. Company will spend $10B on stock buybacks and boost its dividend by …
Read More »Federal government reaches deal with Google on Online News Act
Google and the federal government have reached an agreement in their dispute over the Online News Act that would see Google continue to share Canadian news online in return for the company making annual payments to news companies in the range of $100 million. Agreement comes 3 weeks before Online …
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