Canada + Economy

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  • Toronto Stock Exchange logo is seen in Toronto
    Oil and gold price rallies boost TSX resource stocks

    Oil prices jumped after three days of losses as U.S. crude output fell for the first time in two months. "It doesn't feel very calm out there," said Marcus Xu, portfolio manager at M.Y. Capital Management …

    Toronto Stock Exchange logo is seen in Toronto

    Oil prices jumped after three days of losses as U.S. crude output fell for the first time in two months. "It doesn't feel very calm out there," said Marcus Xu, portfolio manager at M.Y. Capital Management Corp in Vancouver. "We are entering a quarter that's full of uncertainty, whether it is on corporate earnings, Fed …

  • Barrick Gold must face U.S. lawsuit over mothballed mine

    By Jonathan Stempel NEW YORK (Reuters) - Barrick Gold Corp has lost its bid to dismiss a U.S. lawsuit that accuses the world's largest gold producer of concealing problems at a troubled South American …

    By Jonathan Stempel NEW YORK (Reuters) - Barrick Gold Corp has lost its bid to dismiss a U.S. lawsuit that accuses the world's largest gold producer of concealing problems at a troubled South American mine and of fraudulently inflating the company's market value by billions of dollars. U.S. District Judge Shira Scheindlin …

  • German Chancellor Merkel and Greek Prime Minister Tsipras address news conference in Berlin
    Greece sends updated reforms, pledges to pay IMF on time

    By Renee Maltezou and Costas Pitas ATHENS (Reuters) - Greece sent an updated list of reforms to lenders on Wednesday to try to unlock financial aid and avoid a default but euro zone officials said more …

    German Chancellor Merkel and Greek Prime Minister Tsipras address news conference in Berlin

    By Renee Maltezou and Costas Pitas ATHENS (Reuters) - Greece sent an updated list of reforms to lenders on Wednesday to try to unlock financial aid and avoid a default but euro zone officials said more work was needed before new funds could be released. Greece is weeks away from running out of cash but its euro zone and …

  • Canadian auto sales edge higher in March

    Canadian auto sales rose in March from a year earlier, industry data showed on Wednesday, even as several major manufacturers, including General Motors Co and Toyota Motor Corp <7203.T>, reported declines. …

    New cars are seen at the Toyota plant in Cambridge

    Canadian auto sales rose in March from a year earlier, industry data showed on Wednesday, even as several major manufacturers, including General Motors Co and Toyota Motor Corp <7203.T>, reported declines. Automakers sold 160,274 cars and trucks in Canada, up 1.9 percent from March 2013, according to DesRosiers Automotive …

  • Canada pipeline regulator planning deep budget cuts

    By Mike De Souza OTTAWA (Reuters) - Canada's national pipeline regulator is making plans to cut its annual spending by 24 percent and workforce by 15 percent over the next two years as a pool of temporary …

    By Mike De Souza OTTAWA (Reuters) - Canada's national pipeline regulator is making plans to cut its annual spending by 24 percent and workforce by 15 percent over the next two years as a pool of temporary funding runs dry, according to a report released this week. An annual report presented to Parliament said the regulator, …

  • GoDaddy shares soar in debut as investors buy into revamp

    GoDaddy Inc's shares rose as much as 34 percent in their debut on Wednesday following a $460 million initial public offering, as investors spotted a bargain in a company making a shift from Internet domains …

    Go Daddy CEO Blake Irving and NASCAR driver Danica Patrick enjoy web hosting company GoDaddy's initial public offering at the New York Stock Exchange

    GoDaddy Inc's shares rose as much as 34 percent in their debut on Wednesday following a $460 million initial public offering, as investors spotted a bargain in a company making a shift from Internet domains to small-business services. Founded 18 years ago by Bob Parsons, GoDaddy is hardly a technology start-up, yet investors …

  • March auto sales rise 1.9%, but sales pace moderates

    March auto sales in Canada rose 1.9 per cent to 160,274 cars and light trucks, according to the latest figures from DesRosiers Automotive. Auto sales rose year-over-year in March at FCA Canada, Volkswagen …

    March auto sales in Canada rose 1.9 per cent to 160,274 cars and light trucks, according to the latest figures from DesRosiers Automotive. Auto sales rose year-over-year in March at FCA Canada, Volkswagen and Nissan, but fell at Toyota, Ford, General Motors and Honda.

  • Canadian banks eyeing low-cost robo-adviser industry to attract Millennials

    TORONTO - Canada's financial services industry is set for a shakeup, and some of the country's biggest banks are taking note.

    A trader looks at his screens on the floor of the New York Stock Exchange

    TORONTO - Canada's financial services industry is set for a shakeup, and some of the country's biggest banks are taking note.

  • New takeover rules would give boards more time to fight back

    Canadian regulators have proposed new rules on hostile takeover bids that will give company directors more time to find alternatives to an unwanted takeover. The new rules proposed by the Canadian Securities …

    Canadian regulators have proposed new rules on hostile takeover bids that will give company directors more time to find alternatives to an unwanted takeover. The new rules proposed by the Canadian Securities Administrators would require that takeover offers stand for a minimum of 120 days, rather than the current minimum …

  • Will tax measures benefiting all families benefit federal political leaders?

    OTTAWA - When the prime minister says the government's new tax package will benefit all Canadian families with children under 18, will that include his own?

    Will tax measures benefiting all families benefit federal political leaders?

    OTTAWA - When the prime minister says the government's new tax package will benefit all Canadian families with children under 18, will that include his own?

  • Mental health dilemma: What employees need to disclose

    If you have a health condition—whether it’s physical or mental—are you obligated to tell your boss? The questions raise all sorts of issues, touching on everything from employment law to human rights. …

    Stigma still surrounds mental illness

    If you have a health condition—whether it’s physical or mental—are you obligated to tell your boss? The questions raise all sorts of issues, touching on everything from employment law to human rights. “The privacy of someone’s medical records is deeply enshrined in all of our legal obligations,” says Fred Wynne, a lawyer …

  • GoDaddy stock soars 30% after $460M IPO

    GoDaddy stock soared 30 per cent in its trading debut on Wall Street Wednesday, in a listing that raised $460 million US. The internet domain name and hosting firm priced its shares at $20 US, but the …

    GoDaddy stock soared 30 per cent in its trading debut on Wall Street Wednesday, in a listing that raised $460 million US. The internet domain name and hosting firm priced its shares at $20 US, but the stock commenced trading at $26.15 a share on Wednesday on the Nasdaq stock exchange. The Scottsdale, Arizona-based company …

  • What’s next for Alberta’s economy?

    Albertans are bracing for several more months of bad economic news and belt tightening amid depressed oil prices, but the province won’t fall into a recession as some economists predict, according to a …

    Alta Budget 20150326

    Albertans are bracing for several more months of bad economic news and belt tightening amid depressed oil prices, but the province won’t fall into a recession as some economists predict, according to a local economic forecast. ATB Financial’s second quarter outlook says the Alberta economy will slow to growth of 0.8 per …

  • Holloway Lodging sells Canadian Travelodge franchise for $21M

    Halifax-based Holloway Lodging Corp. has sold its Travelodge franchise business for $21 million. It owned Travelodge, with about 90 franchise hotels, for less than a year as it was part of its purchase …

    Halifax-based Holloway Lodging Corp. has sold its Travelodge franchise business for $21 million. It owned Travelodge, with about 90 franchise hotels, for less than a year as it was part of its purchase last year of Royal Host Inc. It paid $157 million in cash and shares last year to take control of Royal Host, which owned …

  • Temporary foreign workers in low-skilled jobs must start leaving Canada today

    Japan's Sony Corp halved its stake in camera and endoscope maker Olympus Corp to raise funds for a restructuring drive under which it is boosting investment in sensors and videogames while pulling back …

    Temporary foreign workers pin hopes on April 1 reprieve

    Japan's Sony Corp halved its stake in camera and endoscope maker Olympus Corp to raise funds for a restructuring drive under which it is boosting investment in sensors and videogames while pulling back from unprofitable segments. Sony said it would book 46.8 billion yen (265 million pounds) in capital gains as it lowered …

  • Bentley designer raps new Ford model: report

    Bentley Motors' top designer has criticised Ford's new Lincoln Continental, fretting on social media about the car's similarities with one of its own models, Automotive News reported late on Tuesday. …

    Ford Motor Co. unveils the Lincoln Continental concept car at an event ahead of the New York International Auto Show in New York

    Bentley Motors' top designer has criticised Ford's new Lincoln Continental, fretting on social media about the car's similarities with one of its own models, Automotive News reported late on Tuesday. The Lincoln Continental luxury saloon, unveiled this week by Ford at the New York auto show, resembles the Bentley Flying …

  • Royal Bank of Canada selling Suriname unit to Republic Bank

    Royal Bank of Canada said on Wednesday it has entered into a definitive agreement to sell its Suriname operations to Republic Bank Ltd, as it continues to exit some of its marginal operations in the Caribbean …

    A Royal Bank of Canada logo is seen on Bay Street in the heart of the financial district in Toronto

    Royal Bank of Canada said on Wednesday it has entered into a definitive agreement to sell its Suriname operations to Republic Bank Ltd, as it continues to exit some of its marginal operations in the Caribbean region. Canada's largest bank did not disclose the financial terms of the transaction, but said the sale price …

  • Sears to set up REIT to raise $2.5 billion from shareholders

    (Reuters) - Sears Holdings Corp plans to raise more than $2.5 billion (1.7 billion pounds) from shareholders by offering rights to buy shares in a real estate investment trust that will hold some of its …

    People walk past the main Sears store in downtown Vancouver, British Columbia

    (Reuters) - Sears Holdings Corp plans to raise more than $2.5 billion (1.7 billion pounds) from shareholders by offering rights to buy shares in a real estate investment trust that will hold some of its stores. The REIT is the latest in a series of steps Chief Executive Eddie Lampert has taken to shore up the finances …

  • Canada manufacturing activity shrinks for second month in March

    The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, edged up marginally to a seasonally adjusted 48.9 last month from February's record low …

    Production Associates inspect cars moving along assembly line at Honda manufacturing plant in Alliston, Ontario.

    The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, edged up marginally to a seasonally adjusted 48.9 last month from February's record low of 48.7. The report signaled that the manufacturing sector continues to face headwinds, said Craig Wright, chief economist …