Business Buzz


Toys ‘R’ Us files in Canada
The Canadian Press - Sep 19, 2017 - Business Buzz

Toys “R” Us Canada has initiated bankruptcy proceedings in an Ontario court a day after it filed for creditor protection in the U.S. The company said Tuesday its 82 stores across Canada, as well as its e-commerce sites will continue to operate as usual during its restructuring process under the Companies’ Creditors Arrangement Act. “The […]

Facebook in the hot seat
The Canadian Press - Sep 19, 2017 - Business Buzz

The problems keep piling up for Facebook, and it’s unclear how long the internet giant will be able to brush them aside as it barrels toward acquiring its next billion users. The world’s biggest social network has unwittingly allowed groups backed by the Russian government to target users with ads. That’s after it took months […]

Toys-R-Us in financial mess
The Canadian Press - Sep 19, 2017 - Business Buzz

Toys-R-Us has filed for bankruptcy protection in the United States and says it intends to follow suit in Canada. The company filed Chapter 11 documents late Monday in U.S. Bankruptcy Court in Richmond, Virginia and says its Canadian subsidiary plans to seek protection in parallel proceedings under the Companies’ Creditors Arrangement Act in the Ontario […]

Gloves off in Boeing fight
The Canadian Press - Sep 18, 2017 - Business Buzz

Prime Minister Justin Trudeau is dropping the gloves in his fight with Boeing, saying his government won’t do business with a company that he’s accusing of attacking Canadian industry and trying to put aerospace employees out of work. The comments represent the strongest yet against the U.S. aerospace giant since Boeing launched a trade dispute […]

Foreign investment soars
The Canadian Press - Sep 18, 2017 - Business Buzz

Statistics Canada says foreign investment in Canadian securities totalled $24.0 billion in July, led by a record acquisition of Canadian bonds. The total for the month reversed the sale of $858 million in Canadian securities by foreign investors in June. Statistics Canada says non-resident investment in Canadian bonds totalled $23.8 billion in July, boosted by […]

Rolling Stone will sell
The Canadian Press - Sep 18, 2017 - Business Buzz

Rolling Stone founder Jann Wenner plans to sell his company’s controlling stake in the legendary magazine that chronicled the music and politics of the counterculture movement and changed music journalism forever. The New York Times reported Sunday that Wenner and his 27-year-old son, Gus, the president and chief operating officer of Wenner Media, hope to […]

Home sales expected to fall
The Canadian Press - Sep 15, 2017 - Business Buzz

The Canadian Real Estate Association has downgraded its sales forecast this year as national home sales slipped 9.9 per cent in August compared with a year ago. The association expects sales to decline by 5.3 per cent year-over-year to 506,900 changing hands this year, or 20,000 fewer than previously forecast in June. It projects sales […]

Household debt climbs
The Canadian Press - Sep 15, 2017 - Business Buzz

Statistics Canada says the amount Canadians owe compared with their disposable income climbed higher in the second quarter. The agency says household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter. That means for every dollar of household disposable income […]

Lumber demand to soar
The Canadian Press - Sep 14, 2017 - Business Buzz

Demand for wood products to help rebuild after two devastating hurricanes in the United States will put pressure on the White House to sort out the latest softwood dispute with Canada, Natural Resources Minister Jim Carr said Thursday. Carr made the comments about the storm damage following a speech at a meeting of the Canadian […]

Air Can reaches pilot deal
The Canadian Press - Sep 14, 2017 - Business Buzz

Air Canada says it has reached an agreement to expand the number of aircraft in its discount brand Rouge. The deal was made in co-operation with its 3,500 pilots represented by the Air Canada Pilots Association. Air Canada said the new arrangements amend the 10-year agreement it reached with its pilots in October 2014. The […]