April 28th, 2017

Business

Wealthsimple targeting older U.S. demographic due to student loan debt, says CEO

By David Hodges, The Canadian Press on April 28th, 2017

TORONTO – Three months after expanding its millennial-targeted robo-adviser service to the United States, Wealthsimple is now seeking to capture an older demographic south of the border due to the burden of student loan debt there. CEO Michael Katchen said while he’s pleased with Wealthsimple’s early success in the U.S, he doesn’t expect to see ... Read More »

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Trump seeks to expand drilling in Arctic, Atlantic oceans

By Matthew Daly And Jill Colvin, The Associated Press on April 28th, 2017

WASHINGTON – Working to dismantle his predecessor’s environmental legacy, President Donald Trump plans to sign an executive order Friday that could lead to the expansion of drilling in the Arctic and Atlantic oceans. With one day left to rack up accomplishments before he reaches his 100th day in office, Trump will order his interior secretary ... Read More »

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Industry group raises oil and gas drilling forecast again on price stability

By The Canadian Press on April 27th, 2017

CALGARY – An oil and gas industry group is once again raising its drilling forecast for the year after seeing higher than expected activity. The Petroleum Services Association of Canada now expects 6,680 wells to be drilled across Canada in 2017, up about 60 per cent from what it had forecast in November. Association president ... Read More »

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Toronto stock index drops sharply, U.S. benchmarks make small gains

By The Canadian Press on April 27th, 2017

TORONTO – A broad range of Canadian stocks, including energy producers and major financial services companies, dragged down the Toronto Stock Exchange’s main index today. The S&P/TSX composite index fell 143.07 points to 15,506.47. In New York, the Dow Jones industrial average gained 6.24 points to 20,981.33, the S&P 500 index inched forward 1.32 points ... Read More »

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Ontario balances budget, but debt rises to $312 billion

By Allison Jones, The Canadian Press on April 27th, 2017

TORONTO – Ontario’s Liberal government has finally eliminated its deficit, but its debt is rising to new heights. The province’s first balanced budget in a decade gets rid of a deficit that had at one point reached about $20 billion, and the government is projecting that balance will continue through to 2020. The debt, however, ... Read More »

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500 people get duplicate tax refund checks, can keep only 1

By The Associated Press on April 27th, 2017

PROVIDENCE, R.I. – Five hundred Rhode Island residents have received duplicate tax refund checks totalling $364,000. A state official says human error is to blame. The checks were sent in a group of refunds mailed Friday. The checks people received are identical, but only one of the two checks can be cashed. The Rhode Island ... Read More »

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Potash Corp sees better conditions ahead, raises 2017 profit estimate

By The Canadian Press on April 27th, 2017

SASKATOON – A stabilizing market for one of Canada’s biggest mineral exports has boosted Potash Corp of Saskatchewan Inc.’s (TSX:POT) outlook for the year ahead. The Saskatoon-based fertilizer producer said on Thursday it expects to earn between 45 and 65 cents per share this year, about 25 per cent better than it estimated in January. ... Read More »

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Justin Trudeau defends carbon tax after visit to Saskatchewan farm

By The Canadian Press on April 27th, 2017

GRAY, Sask. – Prime Minister Justin Trudeau is defending his proposed carbon tax after a visit to a farm in the community of Gray, south of Regina. Trudeau then held a news conference at the local rink, where he said putting a price on carbon pollution is a way to reward people who are innovating ... Read More »

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BlackBerry smartphone with physical keyboard will be sold in Canada next month

By The Canadian Press on April 27th, 2017

TORONTO – Canadians will be able to buy a new BlackBerry-branded smartphone with a physical keyboard starting next month. The KEYone, a phone made in partnership between TCL Communication Technology Holdings Ltd. (TCT) and BlackBerry (TSX:BB), will be available for pre-order at some partners as of May 18. Bell, Bell MTS, Rogers, SaskTel and Telus ... Read More »

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Jean Coutu hopes Quebec can reach deal with drugmakers to avoid tendering

By Ross Marowits, The Canadian Press on April 27th, 2017

MONTREAL – The Jean Coutu Group hopes Quebec can reach an agreement with generic drug manufacturers to reduce drugs costs without resorting to the tendering of certain medications that will hurt its business. “It’s always best when you have a deal with the players of the industry,” CEO Francois Coutu said Thursday during a conference ... Read More »

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Judge orders Volkswagen to pay $2.1B in class-action suit over emissions scandal

By The Canadian Press on April 27th, 2017

TORONTO – Members of a Canadian class-action lawsuit against Volkswagen can submit claims for reimbursement starting on Friday after an Ontario judge ordered the car manufacturer to pay $2.1 billion to affected customers. Superior Court Justice Edward Belobaba wrote in his judgment Wednesday that the 105,000 people who purchased or leased certain Volkswagen or Audi ... Read More »

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