Business

Shaking off the debt addiction as rates rise will be hard on Canadian borrowers: Don Pittis

While bank employees have been under pressure to encourage customers to borrow, Canadians have been all-too-willing dupes. Rock-bottom rates that only seemed to be going one way — lower — have created a unique situation where both lenders and borrowers have begun acting like addicts. And as rates begin to rise, the process of withdrawal from that borrowing binge is likely to have ...

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High-tech sector looks to federal budget to spark innovation boom, deliver skilled workforce

Kirk Simpson’s high-tech firm Wave is an example of the type of company the Liberal government is trying to help as it prepares to table its second budget. Simpson has big plans for Wave, a Toronto based tech firm that builds financial services apps for small businesses. He plans to double his workforce of 150 over the next two years ...

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Donald Trump slides down Forbes list of world’s billionaires

Donald Trump may have won the top political job in the United States, taking the presidency in a hard-fought struggle against Hillary Clinton, but the people at Forbes magazine say Trump’s financial status hasn’t fared as well. In the 30th anniversary edition of its annual listing of the world’s billionaires, Forbes estimates that Trump’s fortune has fallen over past year by $1 ...

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St. Lawrence Seaway opens with expectations of busier shipping season

After the worst cargo season in years, shippers traversing the Great Lakes are expecting a rise in volumes this season as the St. Lawrence Seaway opened Monday, but not enough to give them cause to celebrate. The shipping industry is facing a global economic slowdown that will take a couple of years before sustained growth resumes, says the incoming CEO ...

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6 tips to protect your savings

Don’t sweat the small stuff, always pay down your credit card balance and be prepared to escalate — these are among the banking tips personal finance expert and author Bruce Sellery offers to consumers aiming to protect their savings. Sellery, author of Moolala: Why smart people do dumb things with their money (and what you can do about it), took questions ...

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Alberta business confidence surges in 2017 but remains vulnerable to oil shocks: ATB

Owners of small- and medium-sized businesses in Alberta are more confident than they’ve been in years, but that sense of optimism remains tightly tied to the price of oil, according to the latest quarterly survey from ATB Financial. Overall, the score on the ATB Business Index, which the bank uses to measure business owners’ confidence in their operations, grew to 66.1 out of 100 for ...

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TransCanada seeks to start building B.C. gas pipeline without LNG project’s OK

New The Canadian Press Posted: Mar 20, 2017 1:29 PM ET Last Updated: Mar 20, 2017 1:31 PM ET Related Stories TransCanada Corp. is seeking regulatory approval to begin construction of a pipeline that would help feed a proposed liquefied natural gas export terminal on B.C.’s north coast even though a final decision has not yet been made whether to ...

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Saks exposed some customer contact info online

One of the retail chains owned by Toronto-based Hudson’s Bay Co. briefly exposed the email addresses and phone numbers of thousands of its customers online. According to a report by BuzzFeed, thousands of customers who signed up to be notified about certain products had their public information made accessible to all, via non-secure websites on the Saks main page. The pages were taken offline ...

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Cars & car parts push wholesale trade to record in January

Canadian wholesale trade surged to a record high of $59.1 billion in January, driven by a big gain in the auto sector, Statistics Canada said Monday. For the first month of the year, wholesale trade rose by 3.3 per cent from Dec. 2016 for the largest monthly percentage gain since November 2009, when wholesale sales expanded by 3.8 per cent. Statistics Canada ...

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Dominion Diamond stock soars as U.S. company reveals takeover offer

Shares of Dominion Diamond Corp. soared following the weekend disclosure that the Canadian mining company is the target of a takeover offer reported to be worth about US$1.1 billion. The offer was originally made privately on Feb. 21 by The Washington Co. but only revealed by both companies on Sunday. The Montana-based private company is offering $13.50 USD ($18.04 CAD) per ...

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