Business Buzz

Transat, Cook to share jets
The Canadian Press - Oct 02, 2017 - Business Buzz

Tourism firm Transat A.T. Inc. and Thomas Cook Group Airlines say they have signed a deal to share aircraft on a seasonal basis. The companies say the seven-year partnership will allow both to utilize their fleet of planes more efficiently as their flight destinations shift with the seasons. Air Transat uses smaller aircraft in the […]

RioCan to sell 100 sites
The Canadian Press - Oct 02, 2017 - Business Buzz

Canada’s largest real-estate trust says it’s planning to sell about $2 billion worth of properties — primarily open-air malls or power centres — in secondary markets across the country. RioCan Real Estate Investment Trust expects to net about $1.5 billion after expenses from the sale of about 100 properties by late 2018 or 2019, with […]

Conde Nast chairman dies
The Canadian Press - Oct 02, 2017 - Business Buzz

Media titan Samuel Irving “Si” Newhouse Jr. has died at 89. His family said he died at home in New York on Sunday. Newhouse was the chairman of Conde Nast, which publishes some of the United States’ most prestigious magazines. He and his brother Donald owned Advance Publications Inc., the parent company of Conde Nast […]

Waive pipeline conditions?
The Canadian Press - Sep 29, 2017 - Business Buzz

Kinder Morgan Canada has asked the National Energy Board to waive an approval condition of the Trans Mountain pipeline expansion because it might delay completion of the project. Shawn Denstedt, a lawyer at Osler, Hoskin & Harcourt representing Kinder Morgan Canada subsidiary Trans Mountain, said in a letter to the NEB that it needs to […]

Newspapers on their own
The Canadian Press - Sep 28, 2017 - Business Buzz

The chair of News Media Canada says the country’s struggling newspaper industry is “on its own” thanks to a federal cultural strategy that all but snubs so-called legacy media. Bob Cox had lobbied the government to grow the Canadian Periodical Fund, which supports magazines, periodicals and local newspapers, from $75 million a year to $350 […]

Snoop backs Canadian pot
The Canadian Press - Sep 28, 2017 - Business Buzz

Rapper Snoop Dogg is investing in another Canadian cannabis venture. Toronto-based Trellis, a cannabis inventory management software provider, said Thursday the weed-loving rapper’s venture capital firm is leading its latest $2-million seed round. Snoop Dogg’s Casa Verde Capital invests in firms that support the cannabis industry but don’t directly touch marijuana. This investment comes about […]

Old wells go geothermal
The Canadian Press - Sep 27, 2017 - Business Buzz

An Alberta town is planning to pull a different kind of energy from the abandoned oil and gas wells that ring its outskirts. Hinton, west of Edmonton on the edge of the Rocky Mountains, is teaming up with academic researchers and the private sector to install what may be Canada’s first geothermal heating system in […]

Shock-and-awe trade fight
The Canadian Press - Sep 27, 2017 - Business Buzz

There’s no question: The shock-and-awe approach to trade disputes is playing out in the first year of the Trump administration, with the stunner of a 219-per-cent duty on Bombardier just the latest example of the new tariff-happy, America First climate in Washington. Donald Trump’s commerce secretary even bragged about it when announcing a first duty […]

WestJet unveils new carrier
The Canadian Press - Sep 27, 2017 - Business Buzz

WestJet says that its new no-frills, lower-fare airline will be named Swoop. The Calgary-based company has been gradually revealing details of its new carrier since April. Last month, WestJet said the new airline would begin service next summer, rather than late this year as initially announced. The airline said on Aug. 1 that it didn’t […]

Trans Mountain scolded
The Canadian Press - Sep 26, 2017 - Business Buzz

The National Energy Board is issuing a stern warning to the company building the Trans Mountain pipeline expansion for installing mats in streams to discourage fish from spawning where the pipeline is to be installed. In a letter on its website, the regulator orders the company building the line from Edmonton to Burnaby to stop installing […]