Business

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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3 years into the downturn, is Calgary better off?

Three years ago today, oil traded at nearly $107 US a barrel. Things were looking pretty bright in Calgary that summer day. The city was rebuilding from the flood the year before, the job market was tight, salaries high, the real estate market was busy and prices buoyant. However, by the end of the market day, oil had lost a ...

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3 years into the downturn, is Calgary better off?

Three years ago today, oil traded at nearly $107 US a barrel. Things were looking pretty bright in Calgary that summer day. The city was rebuilding from the flood the year before, the job market was tight, salaries high, the real estate market was busy and prices buoyant. However, by the end of the market day, oil had lost a ...

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Too little, too late? Sears tries to rebrand by getting hip, hiding name

In its battle for survival, Sears Canada is trying to shed its old-school image and replace it with a fresh look and hipper brands. It has even opened a flashy pop-up store in downtown Toronto that sells trendy ripped jeans and keeps quiet its affiliation with Sears. Meanwhile, the retailer is currently hemorrhaging cash, closing 59 stores and laying off almost ...

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Postmedia selling Infomart division

New Proceeds to be use to pay down debt The Canadian Press Posted: Jun 22, 2017 3:22 PM ET Last Updated: Jun 22, 2017 3:22 PM ET Postmedia Network Canada Corp. has signed a deal to sell Infomart, its media monitoring division, to Meltwater News Canada Inc. for $38.25 million. The cash-strapped media company says net proceeds from the sale ...

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Qatar Airways seeks 10% stake in American Airlines

State-owned Qatar Airways is attempting to buy a 10 per cent stake in American Airlines, triggering U.S. antitrust oversight of deals that size. American said in a regulatory filing Thursday that the bid was unsolicited, but that the CEOs of both airlines have spoken. Qatar submitted a filing under the Hart-Scott-Rodino Act, which is subject to review by the Justice ...

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Canadian retail sales top April forecasts

Canadian consumer spending in April was stronger than expected, which economists say lends weight to the Bank of Canada’s recent suggestions that interest rate hikes could be on the way. Statistics Canada reported Thursday that retail sales for April rose by 0.8 per cent on a monthly basis to $48.6 billion. Excluding sales of motor vehicle and parts, retail sales ...

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