Business

Western farmers worry they’ll pay the price of saving supply management under NAFTA

Kevin Auch has been putting in long hours on his southern Alberta farm harvesting durum wheat — and also fretting about distant trade negotiations that may affect the price. He wasn’t pleased, earlier this week, when Canada’s foreign affairs minister vowed to defend supply management on Canadian farms in the NAFTA negotiations just getting underway. The system of controlled production and price protection ...

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Walmart took bigger bite out of Canadian grocery industry last quarter, earnings show

Walmart says its Canadian stores gained market share against rivals during its fiscal second quarter. “We further improved our price position against competitors, which contributed to market share gains in key traffic driving categories such as food and consumables,” Walmart chief financial officer Brett Biggs said in remarks prepared for analysts during a conference call to discuss its most recent ...

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$800M 8-year maintenance contract awarded for new navy ships

The federal government has awarded an $800-million contract to perform future maintenance and repair work on the Royal Canadian Navy’s new vessels to the Canadian subsidiary of a French multinational corporation. The contract deals with the new Arctic and offshore patrol ships and joint support ships, which haven’t yet been built, and initially covers eight years but can be extended ...

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Where does the CIBC-PC Financial breakup leave consumers?

CIBC and President’s Choice Financial are amicably breaking up a 20-year banking marriage and divvying up the assets — news one financial expert says isn’t necessarily a good or bad thing for consumers. In a nutshell, President’s Choice Financial will keep the PC Financial MasterCard credit card service and the PC Plus loyalty program, while the two million PC Financial banking customers will ...

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Sears Canada chairman steps down so he can bid to buy retailer

The executive chairman of Sears Canada has stepped down in order to head up a bid to buy the company. According to an employee memo obtained by CBC News, Brandon Stranzl will step away from his day-to-day operations at the company to instead focus on putting together a bid to buy the company and keep it going once it emerges from its ...

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Donald Trump disbands business and manufacturing councils as CEOs begin to jump ship

U.S. President Donald Trump announced he is disbanding two advisory panels full of business executives after a number of high-profile CEOs either quit the panels or criticized his response to last weekend’s tragic events in Charlottesville, Va.  Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all! ...

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CIBC takes over banking business from PC Financial, renames bank Simplii

President’s Choice is getting out of the banking business, selling its PC Financial unit to CIBC, which will rebrand the bank as Simplii. The two companies announced the end of their 20-year collaboration on Wednesday, as Loblaw says it will retain its loyalty point program and credit card offering, while handing over all daily chequing, savings, lending and other banking ...

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Fiat-Chrysler and BMW team up with Intel to develop self-driving system

New Intel recently bought Mobileye, a leader in developing smarter car sensors The Associated Press Posted: Aug 16, 2017 8:35 AM ET Last Updated: Aug 16, 2017 8:35 AM ET Fiat Chrysler is teaming up with BMW and Intel to develop an autonomous-driving system. The companies say the system will be used by automakers worldwide to run self-driving vehicles. It ...

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What Canadian business hopes to get from NAFTA talks

Canadian businesses are hoping U.S. negotiators will be receptive to maintaining, if not improving, the current flow of goods and workers across the border as the 23-year-old North American Free Trade Agreement is renegotiated. Economist Trevor Tombe of the University of Calgary says ensuring the flow of skilled workers is a “pretty realistic prospect” in the NAFTA talks and is important to ...

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