Business Buzz

How much for legal weed?
The Canadian Press - May 16, 2017 - Business Buzz

Governments from across the country will meet next month to debate a key question about Canada’s eventual recreational-marijuana market — how much should users pay for their pot? Federal Finance Minister Bill Morneau said Monday that cannabis taxation will be on the agenda when he meets with his provincial and territorial counterparts. Morneau said the […]

Cyberattack wave ebbs
The Canadian Press - May 15, 2017 - Business Buzz

The “ransomware” cyberattack that has hit companies and governments around the world ebbed in intensity on Monday, though experts warned that new versions of the virus could emerge. Thousands more infections were reported Monday, largely in Asia, which had been closed for business when the malware first struck Friday. The cases were more contained, however, […]

Toshiba reports massive loss
The Canadian Press - May 15, 2017 - Business Buzz

Toshiba, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March. The Japanese electronics giant’s results have failed to win auditors’ approval from the previous quarter, after questions were raised over the acquisition of U.S. nuclear construction company CB&I […]

CEOs behaving badly
The Canadian Press - May 15, 2017 - Business Buzz

A new study on business leaders has found that CEOs in North America are increasingly being turfed for so-called “ethical lapses.” Price Waterhouse Cooper’s consulting branch has released its annual “CEO Success study,” which says there has been an increase in CEOs in the U.S. and Canada leaving their position due to scandal or improper […]

WestJet votes for union
The Canadian Press - May 12, 2017 - Business Buzz

The Air Line Pilots Association, International says more than 1,400 WestJet pilots have voted 62 per cent in favour of forming the first union at Canada’s second-largest airline. The ALPA says that once the results are certified by the Canada Industrial Relations Board, it will be the exclusive bargaining agent for WestJet pilots. WestJet chief […]

Teck to sell Waneta stake
The Canadian Press - May 12, 2017 - Business Buzz

Teck Resources Ltd. has signed a deal to sell its two-thirds interest in the Waneta Dam in B.C. to one of Canada’s largest utility companies. It says Fortis Inc. has agreed to pay $1.2 billion in cash for Teck’s stake in the dam and related assets. Under the deal, Teck will then be granted a […]

Canadian Tire adds delivery
The Canadian Press - May 12, 2017 - Business Buzz

Canadian Tire will launch a trial run with home delivery at the end of this year, its CEO said Thursday in what is likely a response to the rising threat posed from competitors such as Walmart and Amazon. The move marks a reversal for the national retailer, which for years had expressed no interest in […]

‘Massive’ NAFTA changes
The Canadian Press - May 11, 2017 - Business Buzz

President Donald Trump says he’s ready to start a major renegotiation of the North American Free Trade Agreement, now that his trade czar has achieved his long-awaited confirmation by the U.S. Senate. The upper chamber voted Thursday with a large bipartisan majority of 82-14 to approve Robert Lighthizer, giving the administration its U.S. trade representative […]

Second Cup CEO bolts
The Canadian Press - May 10, 2017 - Business Buzz

The Second Cup’s CEO is leaving the company abruptly, three years after the former Holt Renfrew executive was brought on to lead a rejuvenation of the Canadian coffee chain. The company says Alix Box’s departure is effective immediately, just two days before the company’s annual meeting on Friday. She had been one of seven people […]

Pot no threat to booze biz
The Canadian Press - May 10, 2017 - Business Buzz

The recreational marijuana industry is expected to take a sip of less than one per cent initially out of annual Canadian alcohol sales once it becomes legal, a new analysis says. The Anderson Economic Group, a business consulting firm in New York, says legalization of marijuana would sap $160 million out of the country’s $22.1 […]