Business

‘I feel duped’: Why bank employees with impressive but misleading titles could cost you big time

Mike Black says he feels “completely betrayed” after trusting RBC employees with impressive-sounding titles to manage his life savings, only to earn far below the market average for six years. “I worked 35 years at two jobs and saved up a considerable amount due to the fact that I didn’t have a pension and would need money for retirement,” said Black, who ...

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Is Toronto’s housing market on the cusp of a late-80s-style bubble?

Toronto’s current real estate boom shares one thing in common with the red-hot housing market in the late 1980s, recalls real estate veteran Karen Millar. “Prices were escalating and everybody was worrying how were they going to afford it, how were their kids going to afford it,” said Millar, now a senior real estate specialist with Royal LePage Signature Realty.  She ...

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Former Valeant CEO suing company over unpaid shares

Former Valeant Pharmaceuticals CEO Michael Pearson is suing his former employer for breach of contract for failing to deliver more than three million shares and consulting fees. In a lawsuit filed Monday in the U.S., Pearson alleges that Valeant breached his separation agreement by refusing to hand over 580,676 restricted share units and about 2.4 million performance share awards he ...

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Home Capital shares dive after company terminates CEO

Shares of Home Capital Group Inc. traded down more than seven per cent on the TSX on Tuesday, a day after the company said it had terminated its top executive. Home Capital announced Monday after stock markets had closed that that Martin Reid, its president and CEO, was out, effective immediately. Investors responded by sending shares of Home Capital down ...

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‘Openness and economic progress go hand in hand,’ Poloz says in Oshawa speech

In a speech to university students on Tuesday, Bank of Canada governor Stephen Poloz argued that free trade, foreign investment and immigration all played critical roles in building Canada’s economy throughout history. “When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper. We saw this before Confederation, in the early 1900s and after ...

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Purolator stops accepting new parcels as threat of strike looms

Package delivery firm Purolator suspended acceptance of new shipments Tuesday after its largest union issued 72 hours’ notice of a possible strike, which would commence Wednesday at 4:30 p.m. ET. The move comes after a majority of the 8,162 Teamsters Canada members who work at Purolator rejected the company’s most recent offer in negotiations. Purolator’s final offer has been rejected by members. ...

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Trump takes credit as Ford set to announce spending on U.S. plants

New Unclear if announcement to come Tuesday is tied to new spending or existing plans CBC News Posted: Mar 28, 2017 8:37 AM ET Last Updated: Mar 28, 2017 8:38 AM ET U.S. President Donald Trump touted Ford Motor Co.’s expected announcement Tuesday about investments and jobs at its U.S. plants, saying the automaker would be making a major investment in ...

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Netflix’s anti-piracy team aims to make stealing content uncool

​Netflix is getting tough on piracy. The streaming service giant reveals its plan of attack in an online job posting seeking someone with legal and internet piracy experience to manage its newly created Global Copyright Protection Group. Based in Los Angeles, the group’s mission is to stop people from accessing online its original content without paying for it. In recent years, Netflix has ...

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Marijuana industry gets boost from legalization target date

Canadian marijuana businesses got a confidence boost from a CBC News report that the government plans to legalize recreational marijuana by July 2018, although big questions remain about how the legal market will work in different provinces. The newly revealed date for the debut of legal cannabis is “exactly along the lines of what we expected,” said Neil Maruoka, a stock analyst with Canaccord ...

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Home Capital terminates CEO Martin Reid

Firm has said it received an OSC enforcement notice about disclosure of falsified loan applications The Canadian Press Posted: Mar 27, 2017 5:56 PM ET Last Updated: Mar 27, 2017 6:06 PM ET Home Capital Group Inc. has terminated its president and CEO Martin K. Reid, effective immediately. Kevin P.D. Smith, chair of the board of directors, said in a ...

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