September 26th, 2021

Business

SNC-Lavalin saga resurfaces after election with filing of new bribery charges

By Ross Marowits, The Canadian Press on September 23rd, 2021

The SNC-Lavalin legal saga was thrust back into the spotlight Thursday after the RCMP announced they’ve charged two former executives and the engineering company itself for allegedly paying bribes to obtain a Montreal bridge repair contract. Former SNC-Lavalin vice-president Normand Morin and former SNC-Lavalin International Inc. vice-president Kamal Francis, along with SNC-Lavalin and its subsidiary, ... Read More »

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Cineplex’s pandemic response was similar to prospective buyer, other retailers: CEO

By The Canadian Press on September 23rd, 2021

TORONTO – The chief executive of Cineplex Inc. says his company’s decision to slow payments to film studios and seek rent deferrals and abatements during the pandemic was akin to moves being made by Cineworld Group PLC and other large Canadian retailers. Ellis Jacob told the Ontario Superior Court of Justice this morning that after ... Read More »

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Top Dems: We have framework to pay for $3.5T bill, no detail

By Lisa Mascaro And Alan Fram, The Associated Press on September 23rd, 2021

WASHINGTON (AP) – The White House and congressional Democrats have agreed to a “framework” to pay for their huge, emerging social and environment bill, top Democrats said Thursday, but they offered no details. Senate Majority Leader Chuck Schumer of New York and House Speaker Nancy Pelosi of California announced the development as Biden administration officials ... Read More »

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Energy and financials help lift S&P/TSX composite higher, U.S. stock markets also up

By The Canadian Press on September 23rd, 2021

TORONTO – Gains in the energy and financial sectors helped boost Canada’s main stock index higher in late-morning trading, while U.S. stock markets also rose. The S&P/TSX composite index was up 73.91 points at 20,475.40. In New York, the Dow Jones industrial average was up 500.62 points at 34,758.94. The S&P 500 index was up ... Read More »

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Canada’s tight labour market makes right now a perfect time to ask for a raise

By Ian Bickis, The Canadian Press on September 23rd, 2021

TORONTO – If you haven’t asked for a bump in compensation lately, you may be missing out on what recruiters and career coaches say is a golden opportunity due to atight labour market. “It’s a fight for staff right now, it’s a fight,” said Allison Venditti, a career coach and founder of Moms at Work. ... Read More »

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RCMP charge SNC-Lavalin, former execs with fraud over alleged bribery

By The Canadian Press on September 23rd, 2021

MONTREAL – The RCMP say they have charged two former SNC-Lavalin executives for allegedly paying bribes to obtain a contract, and have also laid charges against the Quebec engineering giant and its international business arm. The Mounties have not revealed the nature of the contract, but did identify the two people arrested and charged as ... Read More »

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Statistics Canada says retail sales fell 0.6% in July as grocery store sales fell

By The Canadian Press on September 23rd, 2021

OTTAWA – Statistics Canada says retail sales dropped 0.6 per cent to $55.8 billion in July as sales at supermarkets and grocery stores fell with more people returning to restaurants and patios. However, the agency says its initial estimate for August suggests retail sales gained 2.1 per cent for that month, but cautioned the figure ... Read More »

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US jobless claims tick up from near a pandemic low

By Paul Wiseman, The Associated Press on September 23rd, 2021

WASHINGTON (AP) – The number of Americans applying for unemployment aid rose last week for a second straight week to 351,000, a sign that the delta variant of the coronavirus may be disrupting the job market’s recovery, at least temporarily. Thursday’s report from the Labor Department showed that jobless claims rose by 16,000 from the ... Read More »

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Bank of England keeps rates on hold, warns over inflation

By The Associated Press on September 23rd, 2021

LONDON (AP) – The Bank of England kept its main interest rate at the record low of 0.1% while warning Thursday that inflation is set to rise further over coming months largely as a result of a sharp spike in energy prices. The decision from the central bank’s nine-member Monetary Policy Committee was unanimous, though ... Read More »

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Canadian office vacancy rate hits highest level since 1994 in third quarter

By The Canadian Press on September 23rd, 2021

TORONTO – CBRE Group Inc. says the national office vacancy rate hit 15.7 per cent in the third quarter for the highest level since 1994 as people continue to work from home because of COVID-19. The commercial real estate firm says that a fourth wave has slowed an expected return to work, helping push up ... Read More »

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FDA backs Pfizer COVID-19 boosters for seniors, high-risk

By Matthew Perrone, Lauran Neergaard And Mike Stobbe, The Associated Press on September 22nd, 2021

The U.S. has moved a step closer to offering booster doses of Pfizer’s COVID-19 vaccine to seniors and others at high risk from the virus. The Food and Drug Administration on Wednesday signed off on such shots as a way to shore up protection in those groups. This is not a done deal yet: The ... Read More »

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