Business Buzz

Auction signifies better times
The Canadian Press - 12:51 pm - Business Buzz

CALGARY — An unexpected late bidding war for the right to sponsor veteran driver Troy Dorchester helped push the annual Calgary Stampede chuckwagon canvas auction to a $47,000 higher total than last year. Sponsorship bids for the 36 rigs competing at the annual tribute to cowboy culture totalled $3.29 million at the end of the […]

Canola issue hurting farmers
The Canadian Press - 12:16 pm - Business Buzz

Chinese companies have stopped buying canola seed from Canadian producers, says an industry group, leaving exporters trying to sell their supply to other markets. The ongoing trade dispute that started earlier this month when China revoked the permit of a major Canadian exporter is also hitting canola farmers, who are grappling with lower prices and […]

Air Canada, WestJet bought safety
The Canadian Press - Mar 21, 2019 - Business Buzz

TORONTO — Canada’s two largest airlines have at least one of the optional safety features on their Boeing 737 MAX 8 aircraft that were reportedly lacking on the jets that crashed in Ethiopia and Indonesia. Air Canada and WestJet Airlines both say they purchased disagree lights used by the aircraft’s software system during flight to […]

CPR’s first female chair
The Canadian Press - Mar 20, 2019 - Business Buzz

CALGARY — Canadian Pacific Railway has selected the first woman to head the board of directors of the country’s second-largest railway. Isabelle Courville, 56, has been designated to replace Andrew Reardon at the Calgary-based company’s annual meeting in May, according to a proxy circular. An independent director since 2013, Courville is one of four women […]

Google hit with big fine
The Canadian Press - Mar 20, 2019 - Business Buzz

BRUSSELS — Europe’s antitrust regulators slapped Google with a big fine Wednesday for the third time in less than two years, ordering the tech giant to pay 1.49 billion euros ($1.7 billion) for freezing out rivals in the online advertising business. The ruling brings to nearly $10 billion the amount in fines the European Union […]

Budget to help workers
The Canadian Press - Mar 20, 2019 - Business Buzz

OTTAWA — Canadians could soon be putting $250 a year in federal tax credits toward better skills while getting federal help to pay the bills. One of the showpieces in Tuesday’s federal Liberal budget, part of more than $1.7 billion in planned new spending over five years, aims to help workers prepare for tectonic digital […]

Budget hits stocks hard
The Canadian Press - Mar 19, 2019 - Business Buzz

OTTAWA — Executives at big established companies who get paid with large stock grants will owe more in tax under changes promised in the new federal budget. Under the current rules, employee stock option benefits are taxed at half the normal rate of personal income—the same rate as capital gains. The plan announced in the […]

Budget helps home buyers
The Canadian Press - Mar 19, 2019 - Business Buzz

The federal government is promising to pick up part of the cost of a mortgage for a new home and increase the amount of retirement savings Canadians can tap as part of budget measures unveiled today to help first-time homebuyers get into the market. Helping people buy first homes has been a preoccupation of the […]

Air Canada adjusts schedule
The Canadian Press - Mar 19, 2019 - Business Buzz

MONTREAL — Air Canada has decided to remove its grounded Boeing 737 MAX 8 jets from service until at least July 1 in order to provide more certainty for passengers that wish to book flights in the coming months. Canada’s largest airline announced Tuesday that it has taken several steps to adjust since the MAX […]

Budget focuses on housing
The Canadian Press - Mar 18, 2019 - Business Buzz

OTTAWA — The Trudeau government will take steps in Tuesday’s federal budget to make home-buying more affordable with changes affecting supply, demand and regulation, The Canadian Press has learned. Finance Minister Bill Morneau has promised the budget will focus on ways to help improve housing affordability for Canadians, and particularly for millennials, who are now […]