September 26th, 2021

Business

Governments must invest in those affected by energy transition, Mark Carney says

By The Canadian Press on September 13th, 2021

MONTREAL – Former Bank of Canada and Bank of England governor Mark Carney says Canada must invest in retraining to help workers affected by the transition to a greener economy. The question of how to finance a lower-carbon economy is on the agenda at the next UN climate conference, known as COP26, taking place Oct. ... Read More »

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Cineplex accuses Cineworld of bad faith in day one of hearings over abortive takeover

By Salmaan Farooqui, The Canadian Press on September 13th, 2021

TORONTO – Cineplex Inc. says a U.K. theatre giant acted in bad faith by delaying a takeover deal of the Canadian company and hoping it would default during the pandemic, a judge heard at the opening of its trial against Cineworld Group PLC. Toronto-based Cineplex is seeking to recoup $2.18 billion in damages from Cineworld ... Read More »

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S&P/TSX rebounds from last week’s losses on higher energy prices

By The Canadian Press on September 13th, 2021

TORONTO – Canada’s main stock index rebounded from last week’s losses as higher crude oil and natural gas prices drove the energy sector higher but didn’t help the loonie. The S&P/TSX composite index closed up 33.35 points to 20,666.41. In New York, the Dow Jones industrial average snapped a five-day losing streak by gaining 261.91 ... Read More »

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Tourism destinations brace for busy winter without usual supply of foreign workers

By Salmaan Farooqui, The Canadian Press on September 13th, 2021

BANFF – Stephane Prevost managed to weather the staffing shortages at his restaurants in Banff, Alta., for most of the summer. But by early August, he had to close one day a week to give his workers a day off. Later in August, Prevost said he closed his two restaurants as many as two days ... Read More »

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Energy sector helps boost S&P/TSX composite in late-morning trading, loonie down

By The Canadian Press on September 13th, 2021

TORONTO – Gains in the energy sector helped lead Canada’s main stock index higher in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 52.16 points at 20,685.22. In New York, the Dow Jones industrial average was up 220.16 points at 34,827.88. The S&P 500 index was down 0.37 points ... Read More »

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Activist investor TCI pushes for board changes at CN Rail after KSC favours CP Rail

By Ian Bickis, The Canadian Press on September 13th, 2021

TORONTO – Activist investor TCI Fund Management Ltd. has stepped up its push for boardroom changes at Canadian National Railway Co. after the company’s efforts to take over a U.S. railway hit a wall. British-based TCI said Monday it intends to ask for a special meeting of CN Rail shareholders for the purpose of “refreshing” ... Read More »

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Crescent Point Energy raising quarterly dividend to three cents per share

By The Canadian Press on September 13th, 2021

CALGARY – Crescent Point Energy Corp. is raising its quarterly dividend after what it says has been significant progress in improving its balance sheet strength and sustainability. The company says it will now pay a quarterly dividend of three cents per share starting with its payment for the fourth quarter. Crescent Point slashed its dividend ... Read More »

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Amazon to hire 15,000 employees across Canada; increase wages

By Amanda Stephenson, The Canadian Press on September 13th, 2021

CALGARY – Amazon Canada will hire 15,000 new warehouse and distribution workers in communities across the country this fall to support its ongoing Canadian expansion plans, the e-commerce giant said Monday. At the same time, Amazon also announced it will increase the starting wage for its front-line, hourly employees in Canada 27 per cent to ... Read More »

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Kansas City Southern board rules CP Rail bid superior to CN agreement

By The Canadian Press on September 13th, 2021

CALGARY – The board of Kansas City Southern has ruled that a takeover offer from Canadian Pacific Railway Ltd. is a superior proposal to its agreement with Canadian National Railway Co. As a result, the U.S. railway says it plans to terminate its deal with CN and sign a definitive agreement with CP Rail which ... Read More »

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Court battle begins between Cineplex and U.K.’s Cineworld over scrapped takeover

By The Canadian Press on September 13th, 2021

TORONTO – Two titans in the theatre business head to court in Toronto today in what could well be a multi-billion dollar test case for pandemic-era litigation. Toronto-based Cineplex is seeking to recoup $2.18 billion in damages from Cineworld Group PLC after the U.K. theatre giant scrapped its planned purchase of the Canadian cinema chain. ... Read More »

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Poignant return for Met Opera after 18-month pandemic pause

By Ronald Blum, The Associated Press on September 12th, 2021

NEW YORK (AP) – Even before the first note, there were a pair of standing ovations – one when the chorus filed in and another when concertmaster Benjamin Bowman walked on to tune up the orchestra. About 90 minutes later, when conductor Yannick Nézet-Séguin relaxed his arms, the 3,600 people filling the seats of the ... Read More »

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