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New housing rules to curb exposure to rising debt: BoC + MORE Dec 15th
OTTAWA —The Bank of Canada is expecting new mortgage rules to help ease a continued rise in household indebtedness that it says has left the country increasingly exposed to an economic shock.
The central bank warned Thursday that the still-climbing levels of debt and the growing proportion of high.... More »
Clinton bid a financial boon for strapped Democratic Party + MORE Feb 18th
Melina Mara/The Washington Post/Getty Images
WASHINGTON – Hillary Clinton isn’t yet the Democratic Party’s presidential nominee, but she’s already good for its bottom line.
The Democratic National Committee began the presidential election year almost $1 million in the hole – a .... More »
Transat shares surge after positively revising summer earnings outlook + MORE Aug 22nd
Shares of Transat A.T. surged on Monday to the highest level since early 2015 after the travel company signalled that it is having a significantly more profitable summer season than it had expected..... More »
How Maclean’s marked Canada’s anniversary over the last century + MORE Jun 30th
Maclean’s has been alive for 112 of Canada’s 150 years. Over the decades, the magazine used various anniversaries to reflect on the country. Our editorialists, columnists and journalists recounted achievements and failures. They offered both words of praise and words of caution for the nation an.... More »
Before the Bell: Stocks set to rise on strong earnings + MORE Oct 18th
A look at overnight markets and what's ahead this trading day in North America
.... More »
Toshiba accounting errors may be over $1-billion: report
– theglobeandmail.com
Toshiba has not been able to close its books for the year that ended in March while a third-party committee probes its bookkeeping practices. It has also skipped its year-end dividend to shareholders
From an escalating financial crisis in Greece, to a seniors income crisis brewing right here in Canada, it was a busy week in business news. The CBC’s Jacqueline Hansen recaps the week in business news in her video feature.
B.C. boat-building firm wins contract to build 27 coast guard vessels
– canadianbusiness.com
DELTA, – A Vancouver-area company has won a $7.6-million federal contract to supply 27 vessels to the Canadian Coast Guard, prompting the national revenue minister to defend the government’s record on West Coast marine safety.
Kerry-Lynne Findlay said Zodiac Hurricane Technologies Inc. of Delta, B.C., will construct 18 station-based and nine ship-based inshore-rescue boats that will be used across Canada.
The federal government has been criticized for its 2013 closure of a coast guard station on Vancouver’s waterfront, with critics saying that delayed a response to a spill of 2,700 litres of bunker fuel into English Bay in April.
“We have invested the most of any Canadian government in history in our coast guard assets,” Findlay said Friday. “We take it very seriously, and I know the coast guard personnel are the most professional men and women in the world.”
She said people “should do their research” before criticizing the government over the coast guard’s preparedness…
Kerry-Lynne Findlay said Zodiac Hurricane Technologies Inc. of Delta, B.C., will construct 18 station-based and nine ship-based inshore-rescue boats that will be used across Canada.
The federal government has been criticized for its 2013 closure of a coast guard station on Vancouver’s waterfront, with critics saying that delayed a response to a spill of 2,700 litres of bunker fuel into English Bay in April.
“We have invested the most of any Canadian government in history in our coast guard assets,” Findlay said Friday. “We take it very seriously, and I know the coast guard personnel are the most professional men and women in the world.”
She said people “should do their research” before criticizing the government over the coast guard’s preparedness…
Giorgos, a 77-year-old pensioner from Athens, sits outside a branch of the National Bank of Greece as he waits along with dozens of other pensioners, hoping to get their pensions in Athens, Greece June 29, 2015. Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system, bringing the prospect of being forced out of the euro into plain sight. (Yannis Behrakis/Reuters)ATHENS, Greece — The brief but intense campaign in Greece’s critical bailout referendum ends Friday, with simultaneous rallies in Athens supporting “yes” and “no” answers to a murky question in what opinion polls suggest will be a very close vote.
Thousands began gathering for the rallies, which were being held about 800 metres (half a mile) apart. Brief clashes broke out between a group of dozens of anti-establishment protesters and police at the tail end of the “no” rally just as it was getting under way.
Prime Minister Alexis Tsipras called the referendum last weekend, asking Greeks to decide whether to accept creditors’ proposals for more austerity in exchange for rescue loans —even though those proposals are no longer on the table…
Ontario court sides with Uber in legal battle with City of Toronto
– canadianbusiness.com
TORONTO – An Ontario judge has sided with the ride-hailing service Uber in its legal dispute with the City of Toronto.
The city sought a permanent injunction on the company’s operations, arguing Uber is a taxi company and must abide by the city’s regulations.
But Superior Court Judge Sean Dunphy dismissed the application, saying there is “no evidence” the company is operating as a taxi broker or that it breached city bylaws.
In his decision, Dunphy said the city’s definition of a taxi brokerage as any service that connects passengers and drivers is too broad.
Such a definition “would capture any telephone carrier since they are in the business of connecting calls and some of the calls they connect are certainly to request a taxicab or limousine transportation,” he said.
The judge also said the issue should not be resolved in court — a point he raised last month during trial.
“Questions of what policy choices the city should make or how the regulatory environment ought to respond to mobile communications technology changes are political ones,” he said…
The city sought a permanent injunction on the company’s operations, arguing Uber is a taxi company and must abide by the city’s regulations.
But Superior Court Judge Sean Dunphy dismissed the application, saying there is “no evidence” the company is operating as a taxi broker or that it breached city bylaws.
In his decision, Dunphy said the city’s definition of a taxi brokerage as any service that connects passengers and drivers is too broad.
Such a definition “would capture any telephone carrier since they are in the business of connecting calls and some of the calls they connect are certainly to request a taxicab or limousine transportation,” he said.
The judge also said the issue should not be resolved in court — a point he raised last month during trial.
“Questions of what policy choices the city should make or how the regulatory environment ought to respond to mobile communications technology changes are political ones,” he said…
