Business Buzz

Banks held to account
The Canadian Press - Mar 15, 2017 - Business Buzz

Canada’s financial consumer watchdog said on Wednesday it was launching a review of business practices among the country’s major banks following reports citing unnamed employees who alleged that the lenders were selling services without the consent of their customers. Lucie Tedesco, commissioner of the Financial Consumer Agency of Canada, said she is concerned by the […]

Fire at Syncrude in oilsands
The Canadian Press - Mar 14, 2017 - Business Buzz

Syncrude Canada Ltd. says it is responding to a fire at an upgrader at one of its oilsands sites near Fort McMurray in northern Alberta. RCMP and Alberta Energy Regulator investigators have been dispatched to the site. Highway 63 — the main road to the site — has been reduced to one lane. A media […]

$5M intimate data lawsuit
The Canadian Press - Mar 14, 2017 - Business Buzz

A Canadian vibrator maker accused of secretly tracking the intimate habits of thousands of its customers through a smartphone app has agreed to spend $5 million to settle a privacy lawsuit in the United States. Under the deal, Ottawa-based Standard Innovation will pay those who bought its We-Vibe sex toy before Sept. 26, 2016, up […]

Goodyear retires blimps
The Canadian Press - Mar 14, 2017 - Business Buzz

Goodyear is letting the helium out of the last of its fabled fleet of blimps. But shed no tears, blimp fans, you’ll still see a familiar blue-and-gold form floating over your favourite sports event or awards show long after the California-based “Spirit of Innovation” goes flat Tuesday. But although its replacement, “Wingfoot Two,” will look […]

TD employees break law
The Canadian Press - Mar 13, 2017 - Business Buzz

Shares of TD Bank climbed Monday as the company defended itself against allegations that employees broke the law to keep their jobs. In a statement late Sunday, TD Bank CEO Bharat Masrani said he doesn’t believe the reports are an accurate portrayal of the bank’s workplace, but he takes the concerns the story raises seriously. […]

Captured carbon’s new uses
The Canadian Press - Mar 13, 2017 - Business Buzz

It has been derided as an expensive excuse to burn coal. But now, carbon capture technology may be leading to new commercial uses that could end up in your mouth. While business case questions have swirled over carbon capture and storage, companies are increasingly looking to turn emissions that would otherwise be buried in the […]

Free trips for tech workers
The Canadian Press - Mar 10, 2017 - Business Buzz

It sounds almost too good to be true: A free trip to New Zealand to interview for a job in the tech sector. But that’s what local authorities and businesses in the capital, Wellington, are offering to 100 talented workers from around the globe as they seek to boost the city’s growing tech hub. The […]

Pipeline cost now $7.4B
The Canadian Press - Mar 09, 2017 - Business Buzz

Kinder Morgan has increased the estimated cost of the Trans Mountain pipeline project to $7.4 billion and says it has confirmed shipping interest from producers. The cost is up from the $6.8 billion previously estimated, with Kinder Morgan citing increased compliance costs including the National Energy Board’s 157 conditions, thicker pipe walls, additional drilled water […]

Cora president kidnapped
The Canadian Press - Mar 09, 2017 - Business Buzz

A man kidnapped at gunpoint under mysterious circumstances from his home near Montreal and later released is the president of the Cora breakfast restaurant chain, the company confirmed Thursday. Nicholas Tsouflidis was nabbed Wednesday night in Mirabel, north of Montreal. A passerby found the bound businessman in a ditch in Laval. The unnamed witness told […]

RadioShack bankruptcy
The Canadian Press - Mar 09, 2017 - Business Buzz

Troubled electronics retailer RadioShack has filed for bankruptcy for the second time in just over two years. The Fort Worth, Texas-based retailer filed its petition in bankruptcy court in Delaware on Wednesday. The company says it’s closing about 200 stores and evaluating options on the remaining 1,300. In a statement, RadioShack President and Chief Executive […]