May 30th, 2016

Business

Transcontinental sells all assets in Saskatchewan, lays off 65 employees

By Ross Marowits, The Canadian Press on May 30th, 2016

MONTREAL – Transcontinental is selling all of its assets in Saskatchewan, including 13 newspapers, and laying off 65 employees in the latest sign of the ongoing troubles that have beset some of Canada’s largest media empires. The company’s deal with Star News Publishing announced Monday marks an end to Transcontinental’s 14-year run as a newspaper ... Read More »

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Canada slips to 10th place in IMD competitiveness ranking, worst in years

By Craig Wong, The Canadian Press on May 30th, 2016

OTTAWA – A plunge in commodity prices hurt Canada as it fell to 10th place in the latest rankings of business competitiveness by the IMD World Competitiveness Center, its worst position in several years. The Swiss-based group, part of the IMD business school, ranked Canada in fifth place last year. The drop came as the ... Read More »

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TSX falls amid mixed commodity prices; New York markets closed for Memorial Day

By The Canadian Press on May 30th, 2016

TORONTO – The Toronto stock market closed little changed amid low trading volume and a lack of direction from the U.S. markets, which were shut for the Memorial Day holiday. The S&P/TSX composite index faded 18.56 points to 14,086.67, pressured by declines in metals and energy stocks. In late-day electronic trading, the July contract for ... Read More »

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Former Nalcor head says province approved controversial $1.4 million severance

By The Canadian Press on May 30th, 2016

ST. JOHN’S, N.L. – The former head of Newfoundland’s Crown energy corporation says the $1.4-million severance package paid out after he stepped down last month was approved by Premier Dwight Ball. In a statement released to media outlets today, Ed Martin said on April 17 he offered to either stay on and finish Nalcor’s Muskrat ... Read More »

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Use regional environmental assessment for northern B.C. projects: report

By The Canadian Press on May 30th, 2016

VANCOUVER – Two British Columbia groups anticipating a nationwide review of environmental assessment processes hope a new report will encourage the federal government to strengthen laws involving resource projects. West Coast Environmental Law and the Northwest Institute for Bioregional Research have released a report highlighting what they say is growing unease in northern B.C. over ... Read More »

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Federal Conservatives want New Brunswick beer decision sent to Supreme Court

By The Canadian Press on May 30th, 2016

FREDERICTON – The federal Conservatives are calling on the Trudeau government to refer a recent court ruling in New Brunswick on interprovincial trade to the Supreme Court for review. That ruling in April effectively removed limits on cross-border alcohol imports. Judge Ronald LeBlanc tossed out all charges against Gerald Comeau, who was charged with illegally ... Read More »

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Transcontinental sells assets in Saskatchewan, lays off 65 people

By The Canadian Press on May 30th, 2016

MONTREAL – Transcontinental is selling its assets in Saskatchewan and laying off 65 people, citing challenging conditions in the print industry. The Montreal-based media giant says 13 newspapers – including the Moose Jaw Times Herald and the Prince Albert Daily Herald – as well as some commercial printing equipment and a book business have been ... Read More »

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TSX lower amid mixed commodity prices; New York markets closed for Memorial Day

By The Canadian Press on May 30th, 2016

TORONTO – The Toronto stock market was modestly lower amid mixed commodity prices and a lack of direction from American markets, which were closed for the Memorial Day holiday. At mid-afternoon, the Toronto Stock Exchange’s S&P/TSX composite index was down 31.79 points at 14,073.44 after posting a solid advance the previous week. In commodities, the ... Read More »

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Quebec to spend $250 million in aerospace sector to diversify industry

By The Canadian Press on May 30th, 2016

LONGUEUIL, Que. – Quebec is announcing it will invest $250 million over five years to help diversify the province’s aerospace sector. Premier Philippe Couillard made the announcement today at an aeronautics school south of Montreal. Couillard says he expects the funding to generate up to $2.8 billion in private investment he believes will help the ... Read More »

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Canada slips to 10th place in IMD competitiveness ranking, worst in several years

By The Canadian Press on May 30th, 2016

OTTAWA – Canada has fallen to 10th place in the latest rankings of business competitiveness by the IMD World Competitiveness Center, its worst position in several years. The Swiss-based group, part of the IMD business school, ranked Canada in fifth place last year. The drop comes as the downturn in commodity prices hits the Canadian ... Read More »

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Mutual funds must now provide key information before investors buy funds

By The Canadian Press on May 30th, 2016

TORONTO – A new safeguard is now in place to help protect mutual fund investors. Effective Monday, mutual fund companies are required to provide investors key information on things like a fund’s performance and fees before they buy. The so-call “fund facts” document mandated by securities regulators is the final step in improvements to mutual ... Read More »

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