Business

2nd wave of softwood lumber duties sets up ‘dangerous’ talks for Canada

The other shoe is set to drop for softwood lumber producers Friday as the U.S. Commerce Department is expected to reveal preliminary anti-dumping duties on Canadian imports. Combine this with the retroactive countervailing duties announced in April, and the already-high stakes for trade negotiations between Canada and the United States may rise again. Regardless of whether there’s evidence of unfair trade, don’t expect a ...

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Oil prices extend losses

Oil prices fell further on Wednesday, with the international benchmark for crude sliding below $45 US a barrel. The drop marked Brent crude’s first dip below that price point since November, as markets continued to worry about a glut in supply. OPEC and 10 other oil-producing countries agreed in November to cut their production to combat a growing supply glut and push the market ...

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Amazon takes aim at department stores with ‘Prime Wardrobe’

Amazon is hoping to claim more territory once held by department stores, essentially placing a dressing room in your house. The company, which has been making a big push into selling clothes, is testing a new service that lets members of its Prime program try on styles before they put items on their charge card — at no upfront fee. ...

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Royal Bank cutting 450 jobs, mainly at Toronto-area head offices

Royal Bank of Canada said Wednesday it is cutting roughly 450 jobs, primarily at its head office locations in the Toronto area. “We are making changes that focus on the capabilities that we need now and in the future to meet our clients’ evolving needs,”  RBC spokesperson Catherine Hudon said a statement emailed to CBC News.  “As always, we consolidate where necessary so that ...

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Ford to build Focus in China and ship cars back to U.S. for 1st time

Ford Motor Company will move production of its small Focus sedan to China starting in 2019, and then ship the vehicles back for North American customers for the first time ever. Ford already makes some Focus cars in China, but starting in 2019, Ford Focus cars sold in North America will be made there, too. It will mark the first time ...

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Sears Canada shares plunge as report says retailer will seek bankruptcy protection

Sears Canada’s stock has plunged this morning following a news report that it’s preparing to seek bankruptcy protection within weeks. The shares fell 25 per cent to 60 cents on the Toronto Stock Exchange shortly after the open Wednesday. The stock had already declined from $1.14 on June 12, prior to a company warning that there was “significant doubt” about ...

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Why fixing gender equality in the workforce could be worth more than $150 billion to Canada’s economy

Taking steps to fix gender inequality in the workplace could give Canada’s economy a $150-billion shot in the arm, a major consultancy says. In a report published Wednesday morning, the McKinsey Global Institute found that gender inequality in Canadian workplaces isn’t just holding women back, it’s bad for the economy as a whole. Even incremental progress in getting more women into ...

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Kicking Horse Coffee wants to grow far beyond B.C.

The reaction was instant in the community of Invermere, in southeast B.C., when the news broke that Kicking Horse Coffee was sold to Italy’s Lavazza. Everywhere co-founder Elena Rosenfeld went around town people greeted her with ‘Bonjourno!’ Instead of concern over a European conglomerate taking over the business and new owners who might close down the local operations, residents were thrilled about their small town success story. Kicking Horse grew from roasting beans in a ...

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Uber co-founder Travis Kalanick steps down as CEO: NYT

Updated The Associated Press Posted: Jun 21, 2017 2:15 AM ET Last Updated: Jun 21, 2017 2:39 AM ET Related Stories Uber CEO and co-founder Travis Kalanick resigned Tuesday under pressure from investors. “I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside ...

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Travis Kalanick resigns as CEO of Uber

Uber CEO and co-founder Travis Kalanick resigned Tuesday under pressure from investors. Uber’s board confirmed the move early Wednesday, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident “while giving the company room to fully embrace this new chapter in Uber’s history.” He will remain on the Uber ...

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