Business Buzz

Canadian home sales record in 2020
The Canadian Press - 11:48 am - Business Buzz

Home sales in December hit an all-time record for the month to end what was also a record year, the Canadian Real Estate Association said Friday. December sales were up 47.2% compared with December 2019, the largest year-over-year gain in monthly sales in 11 years, the association said. Sales for the month were also up […]

Loonie in rarified air
The Canadian Press - Jan 14, 2021 - Business Buzz

TORONTO — The loonie climbed to its highest level in nearly three years Thursday on anticipation that a global economic recovery will drive global demand for Canadian commodities. The Canadian dollar traded for 79.03 cents US after hitting an intraday high of 79.22, its strongest level since April 2018. It compared with 78.68 cents US […]

Ontario forbids new projects
The Canadian Press - Jan 14, 2021 - Business Buzz

TORONTO — Ontario homeowners who haven’t started work on their renovation projects as of Jan. 12 will have to put their plans on hold under the province’s new construction rules. The rules are part of tightened COVID-19 restrictions filed Wednesday in the Reopening Ontario Act, after Ontario entered a state of emergency to try and […]

Weed exec excited about Biden
The Canadian Press - Jan 14, 2021 - Business Buzz

Aphria Inc. chief executive Irwin Simon is seeing green as Democrat Joe Biden prepares to be sworn in as president of the United States next week. Simon said Thursday that he has his sights set on the burgeoning U.S. pot market for the Leamington, Ont.,-based cannabis company. “The recent election will likely provide a stronger […]

Refunds, returns not so easy
The Canadian Press - Jan 14, 2021 - Business Buzz

Canadians who weren’t happy with some of their holiday gifts or who changed their mind after making purchases might face trouble when trying to get their money back. Scores of retailers across the country have changed their return policies to quell the spread of COVID-19, making it trickier to get an exchange or refund, depending […]

COVID crushing Nav Canada
The Canadian Press - Jan 13, 2021 - Business Buzz

OTTAWA — Nav Canada saw profits and air traffic plummet in its first quarter as fallout from the COVID-19 pandemic continues to batter the air traffic control company. The “staggering” decline in flights prompted massive layoffs as well as a 45% year-over-year drop in revenue for the three months ended Nov. 30, said CEO Neil […]

Air Canada cutting costs
The Canadian Press - Jan 13, 2021 - Business Buzz

MONTREAL — Air Canada is cutting 1,700 jobs and scaling down its operations as the cumulative effects of lockdown restrictions, slumping travel demand and new COVID-19 testing rules take their toll on the airline industry. The 25% reduction in service for the first quarter of 2021 will also affect 200 employees at Air Canada’s Express […]

Trump’s business future cloudy
The Canadian Press - Jan 13, 2021 - Business Buzz

NEW YORK — The PGA cancelled its tournament at his golf course. Banks say they won’t lend to him anymore. New York City is ending his contract to operate the Central Park skating rink. Hits to President Donald Trump’s business empire since the deadly riots at the U.S. Capitol are part of a liberal “cancel […]

Shaw off to hot start in 2021
The Canadian Press - Jan 13, 2021 - Business Buzz

CALGARY — Shaw Communications Inc. says its fiscal year got off to great start despite the ongoing impact from the COVID-19 pandemic. Executive chairman and CEO Brad Shaw says the Calgary-based company’s strategy to “scale our wireless business and deliver profitable wireline results set new records this quarter.” “Consumers are embracing the launch of Shaw […]

Insurrections good for business
The Canadian Press - Jan 12, 2021 - Business Buzz

NEW YORK — The attack on the U.S. Capitol last week brought more viewers to CNN than any other single day in the network’s 40-year history. CNN averaged 5.2 million viewers last Wednesday, eclipsing its previous high of 5.1 million on Election Day 2016, the Nielsen company said. The network had 4.47 million viewers on […]