What went wrong at Blacks Photography? One word: Instagram + MORE Jun 10th

(Justin Tang/CP)
Canadian photography retailer Blacks will cease operations at all of its 59 locations this summer, parent company Telus announced on Tuesday.
The announcement, which comes only 13 months after a major rebrand, was blamed on technological changes in the marketplace.
“Despite the positive momentum and financial improvements our Blacks team has delivered over the last year, we have been unable to realize profitable growth and it would take considerable investment to adapt Blacks to ongoing change,” said spokesperson Luiza Staniec.
Last May, Blacks revamped its website, logo, mobile app and a store design called “Playground for Photography.” There was hope Blacks could tap into the printing business through an innovative app that allowed customers to send their photos directly to a nearby location. At the time, the retailer said all 92 of its locations would be revamped over a two-year period.
Almost all of the closures at the locations for the 80-year-old brand will occur in Ontario, with 485 employees losing their jobs…

CALGARY – Saskatchewan’s economy minister says if energy companies are skittish about investing in Alberta, they’re welcome to set up shop next door.
Bill Boyd says he’s been watching the political debate in neighbouring Alberta over the newly elected NDP government’s plans to review oil and gas royalties.
Boyd is in Calgary for the Global Petroleum Show, a massive exhibition with some 50,000 attendees from around the world.
He says he’s been hearing from companies at the show that there’s a fair bit of concern about the investment climate and that it’s been tough to make spending decisions.
Boyd is touting Saskatchewan as a stable place to invest and says he’s been seeing growing interest in moving capital to his province.
When Alberta last raised royalty rates following a review in 2007, many companies threatened to move their money elsewhere.
The post Saskatchewan courts oil and gas investment amid Alberta royalty ruckus appeared first on Canadian Business – Your Source For Business News.

Canadians continue to add to their already high levels of debt, an issue the Bank of Canada has been concerned about since around the turn of the decade. On Thursday, the Bank of Canada will give its current view of the situation when it releases its semi-annual financial system review

Paying back the RRSP Home Buyers’ Plan cuts the annual taxes paid (Getty Images)
Q: I’ve always repayed what I owe via the Home Buyers’ Plan. But I really wonder if it’s that big of a deal to repay the amount owed every year. It’s my understanding that only the amount owed that particular year is added to your taxable income—and a friend tells me he used the Home Buyers’ Plan (HBP) and has never had the intention of paying it back. Is he on to something? — Loyal Reader from Nova Scotia
Dear Loyal Reader from Nova Scotia: If “on to something” means the government treating the HBP loan that your friend withdrew from his RRSP as income—and having to pay tax on that income—then, yes, he’s on to something.
Consider this example. Your friend withdraws $25,000 from his RRSP under the HBP and currently earns an annual salary that puts him in the 31% tax bracket. By not paying back the HBP your friend would have to pay $650 extra each year in taxes, for the next 15 years, until the HBP loan is paid back…

Selling a home can be difficult. Worrying if you’re accepting the right price, wondering if the market will work in your favour and hoping your home is attractive to potential buyers can be a headache. What’s one way to stand out from the crowd?  How about throwing in a free Maserati or other outrageous giveaways? That’s what a Montreal homeowner did last week. The extravagant vehicle was given away with the sale of a home in Montreal’s pony Westmount neighbourhood.
But this isn’t the first time an excessive add-on has made its appearance in a real estate transaction. Over the years there’s been some wacky extras thrown into the home buying mix. But do they actually make a difference?
Toronto broker Ryan Roberts of Bosley Real Estate says that the Montreal Maserati deal is “unbelievably ridiculous.” In hot markets like Toronto, buyers are just looking for well-priced homes, he says, and for the most part, there’s no need to incentivize the property. In flatter markets, a seller may throw in some furniture, but a luxury car is a rare sight…