Business

Warning labels might be coming to cheese: CBC’s Marketplace consumer cheat sheet

Miss something this week? Here’s the consumer news you need to know from CBC-TV’s Marketplace. Get this in your inbox every Friday. Sign up here. Fake drugs American prosecutors accuse CanadaDrugs.com and its CEO Kris Thorkelson of selling unapproved and counterfeit cancer drugs to U.S. doctors. (CBC) Six Canadians are accused of selling cancer drugs online. The problem? The vials ...

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How Sears’ troubles could hasten radical change in Canada’s malls

Sears’ plan to shut down 59 of its locations is grim news for the chain’s landlords across Canada. Could it also spell doom for the nation’s neighbourhood malls? Anchor tenants — typically big department stores — have always been a critical component of mall design. And many mall owners still haven’t completely recovered from Target’s departure two years ago. But the ...

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Proposed rules for CRA amnesty program could expose more tax-cheat advisers

The Canada Revenue Agency is tightening its amnesty program for tax cheats, including a proposed rule that could expose more of the shady advisers who set up dodgy tax schemes to help clients hide their money. The revamped regime for the voluntary disclosures program was released earlier this month, after MPs, critics and some tax specialists complained the current rules are ...

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Forget the poop scooping: who will pay the bills for your pet?

The scene is so common, it’s cliché: Your adorable child looks longingly into your eyes, begging for a pet. You somehow navigate the emotionally fraught minefield of cat vs. dog. Then it’s time to talk chores. Who will walk that dog? Who will clean that litter? Promises are adamantly made, of course. But you may not have considered talking with the family about the bills ...

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‘Eventually, many will run out’: How an LCBO strike could impact restaurants and bars

A long drawn-out strike by liquor store workers could have a significant impact on Ontario’s restaurants, wine importers, bars and consumers — but it may offer a boon to some local wineries. “Eventually, many [restaurants and bars] will run out, if not all, if it goes into a month, two months,” said Tony Elenis, president and CEO of the Ontario Restaurant Hotel and Motel Association.  The ...

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CIBC looks to generate quarter of earnings from U.S.

CIBC closed its acquisition of Chicago-based PrivateBancorp on Friday, securing its foothold in the U.S. where CEO Victor Dodig said the bank hopes to one day generate a quarter of its earnings. The Canadian bank now earns roughly five per cent of its profits in the U.S., primarily from its wealth management and capital markets operations. The PrivateBancorp acquisition will ...

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Consumer demand for debt as high as it has ever been, Equifax says

Canadians’ appetite for debt is as insatiable as ever, a new report from credit monitoring firm Equifax says. Equifax calculates that Canadian consumers owed $1.729 trillion at the end of the first quarter, an increase of 6.9 per cent in a year. Not counting mortgage debt, the average Canadian consumer owed $22,125 at the end of March, but on the whole ...

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Norsat International investors approve takeover bid from Chinese firm

Bidding for Norsat had been the focus of a debate over national security risks The Canadian Press Posted: Jun 23, 2017 10:59 AM ET Last Updated: Jun 23, 2017 10:59 AM ET ​Norsat International Inc. says its securityholders have voted to approve a controversial takeover of the company by Chinese company Hytera Communications Co. Ltd. The Canadian satellite communications firm ...

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Inflation rate cools to 1.3% in May as food prices now cheaper than a year ago

Food prices have fallen in the past year, contributing to a cooling rate of inflation, Statistics Canada says. (The Associated Press) The cost of living rose by 1.3 per cent in the year up to May, a slightly slower pace than it increased by a month earlier. Statistics Canada reported Friday that the inflation rate increased by 1.3 per cent ...

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BlackBerry swings to $671M quarterly profit despite lower sales

New The Canadian Press Posted: Jun 23, 2017 8:28 AM ET Last Updated: Jun 23, 2017 8:40 AM ET BlackBerry is reporting a $671 million US profit for the first quarter but its revenue was lower than expected, missing analyst estimates. The company says its revenue for the quarter was $235 million US — compared with estimates of $264.39 million ...

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