Business Buzz


From church to brewery
The Canadian Press - Oct 06, 2017 - Business Buzz

Ira Gerhart finally found a place last year to fulfil his yearslong dream of opening a brewery: a 1923 Presbyterian church. It was cheap, charming and just blocks from downtown Youngstown. But soon after Gerhart announced his plans, residents and a minister at a Baptist church just a block away complained about alcohol being served […]

10 months of job gains
The Canadian Press - Oct 06, 2017 - Business Buzz

A surge in full-time work in September fuelled a 10th-straight month of net job gains to match the economy’s longest monthly streak since the financial crisis nine years ago, Statistics Canada said Friday. The national unemployment rate stayed at a nine-year low of 6.2 per cent in September after Canada added 10,000 net new jobs, […]

Sears assessing revised bid
The Canadian Press - Oct 05, 2017 - Business Buzz

Sears Canada has just over a week to assess another revised bid from a buyer group led by its executive chairman as its lenders press for liquidation of the embattled retailer that could start as early as mid-October. Orestes Pasparakis, a lawyer for the insolvent retailer’s court-appointed monitor FTI Consulting Canada, told the court it […]

Morneau sunny on economy
The Canadian Press - Oct 05, 2017 - Business Buzz

The Minister of Finance says he is pleased with Canada’s economic situation even as the country’s latest export figures dropped for the third straight month. Bill Morneau met with private sector economists in Toronto this morning and says the consensus was that the economy is in a better place than would have been expected a […]

Energy East pipeline dead
The Canadian Press - Oct 05, 2017 - Business Buzz

TransCanada has cancelled plans for the Energy East pipeline and Eastern Mainline projects that were to take Alberta oilsands production to Quebec and New Brunswick. The Calgary-based company had announced last month that it was suspending its efforts to get regulatory approvals for the mega projects. It will now inform the federal and provincial regulators […]

Amazon taxed $295M
The Canadian Press - Oct 04, 2017 - Business Buzz

Amazon has to pay $295 million in back taxes to Luxembourg, the European Union ordered Wednesday, in its latest attempt to tighten the screws on multinationals it says are avoiding taxes through sweetheart deals with individual EU states. Margrethe Vestager, the EU official in charge of antitrust issues, also took Ireland to court for failing […]

Half of pot tax to provinces
The Canadian Press - Oct 04, 2017 - Business Buzz

Prime Minister Justin Trudeau is proposing to levy a federal excise tax on recreational marijuana once it becomes legal next July, with the provinces and territories receiving half the revenue. Under a federal proposal put to premiers during a first ministers meeting Tuesday, each gram of pot would be subject to an excise tax of […]

Monthly rentals through Airbnb?
The Canadian Press - Oct 03, 2017 - Business Buzz

Canada’s housing agency is looking to an unlikely ally in a bid to boost the stock of affordable rental housing: Airbnb. The head of Canada Mortgage and Housing says he believes short-term rental companies like Airbnb and Vacation Rental By Owner could help increase the rental supply and, in turn, possibly reduce rents. The government’s […]

Home sales up – and down
The Canadian Press - Oct 03, 2017 - Business Buzz

September home sales in Vancouver were up compared with year ago, however sales fell compared with August. The Real Estate Board of Greater Vancouver says there were 2,821 homes sold in the region last month. That was up 25.2 per cent from 2,253 in September last year, but down 7.3 per cent from the 3,043 […]

Sears running out of time
The Canadian Press - Oct 03, 2017 - Business Buzz

The court-appointed monitor for Sears Canada is warning that its available funds are running low and there may not be enough time to reach an acceptable deal with a buyer group headed by its executive chairman, Brandon Stranzl. In its third report to Ontario Superior Court, the monitor says Sears Canada is losing money on […]