June 16th, 2021

Business

Statistics Canada to detail May figure for inflation

By The Canadian Press on June 16th, 2021

OTTAWA – Statistics Canada will say this morning how fast prices rose in May compared with the same month a year earlier amid expectations of a hot inflation figure for the second month in a row. Last month, the data agency reported that prices increased in April at the fastest annual rate in nearly a ... Read More »

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A look at COVID-19 reopening plans across the country

By The Canadian Press on June 16th, 2021

As COVID-19 vaccination rates increase and case numbers drop across the country, the provinces and territories have begun releasing the reopening plans for businesses, events and recreational facilities. Most of the plans are based on each jurisdiction reaching vaccination targets at certain dates, while also keeping the number of cases and hospitalizations down. Here’s a ... Read More »

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Jared Kushner has book deal, publication expected in 2022

By Hillel Italie, The Associated Press on June 15th, 2021

NEW YORK (AP) – Jared Kushner, the son-in-law of former President Donald Trump and one of his top advisers during his administration, has a book deal. Broadside Books, a conservative imprint of HarperCollins Publishers, announced Kushner’s book will come out in early 2022. Kushner has begun working on the memoir, currently untitled, and is expected ... Read More »

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DavidsTea starts fiscal year by swinging to small profit despite lower sales

By The Canadian Press on June 15th, 2021

MONTREAL – DavidsTea started its fiscal year by swinging to a small profit despite seeing sales plunge 28 per cent. The beverage company says it earned $3.2 million or 12 cents per diluted share for the three months ended May 1. That compares with a loss of $45.8 million or $1.76 per share a year ... Read More »

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Western premiers call for clarity, timelines on international travel, reopening rules

By Dean Bennett, The Canadian Press on June 15th, 2021

Canada’s western leaders say they plan to push Prime Minister Justin Trudeau this week on a detailed plan and timeline to reopen international borders. “There’s absolute consensus that we want to get back as quickly as possible to whatever normal will be, but we also expect the federal government to be leading on that question,” ... Read More »

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Federal judge blocks Biden’s pause on new oil, gas leases

By Kevin Mcgill, The Associated Press on June 15th, 2021

NEW ORLEANS (AP) – The Biden administration’s suspension of new oil and gas leases on federal land and water was blocked Tuesday by a federal judge in Louisiana. U.S. District Judge Terry Doughty’s ruling came in a lawsuit filed in March by Louisiana’s Republican attorney general, Jeff Landry and officials in 12 other states. Doughty’s ... Read More »

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Air Canada vows to fight US$26-million penalty from U.S. over unpaid refunds

By Ross Marowits, The Canadian Press on June 15th, 2021

Air Canada is vowing to fight a U.S. Department of Transportation move to seek a US$25.5-million penalty for “failing to provide consumers prompt refunds” after cancelling their flights amid the COVID-19 pandemic. In a “notice of enforcement proceeding” issued by the department Tuesday, the aviation consumer protection agency said Air Canada “unlawfully failed to provide ... Read More »

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Rising crude oil prices power TSX to new record high, while U.S. stock markets fall

By The Canadian Press on June 15th, 2021

TORONTO – Canada’s main stock index set new records again on rising crude oil prices, including Western Canadian Select reaching its highest level since 2014, even as U.S. equities trended lower. The S&P/TSX composite index closed up 73.67 points to a record close of 20,231.32. In New York, the Dow Jones industrial average was down ... Read More »

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Labour shortages, closed borders major obstacles to B.C. restaurant, tourism restarts

By The Canadian Press on June 15th, 2021

VICTORIA – British Columbia’s restaurant and tourism operators applaud the easing of pandemic health restrictions, but say the sectors still face daunting COVID-19-related barriers to a robust return to business. Industry representatives say the closed border between Canada and the United States and worker shortages will continue to hinder their restart despite fewer health restrictions. ... Read More »

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U.S. seeks US$26-million penalty against Air Canada over unpaid refunds

By The Canadian Press on June 15th, 2021

OTTAWA – The U.S. Department of Transportation is seeking a US$25.5-million penalty against Air Canada for “failing to provide consumers prompt refunds” after cancelling their flights amid the COVID-19 pandemic. In a “notice of enforcement proceeding” issued by the department today, the aviation consumer protection agency says Air Canada “unlawfully failed to provide timely refunds” ... Read More »

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VerticalScope Holdings debuts on Toronto Stock Exchange at $22 per share

By The Canadian Press on June 15th, 2021

TORONTO – VerticalScope Holdings Inc. began trading on the Toronto Stock Exchange today after pricing its subordinate-voting shares at $22 per share. The technology company says it planned an issue of 5,685,000 subordinate voting shares, for gross proceeds of $125 million. It has also granted its underwriters an over-allotment option for up to an additional ... Read More »

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