Business Buzz


Debt levels inch lower
The Canadian Press - Jun 14, 2017 - Business Buzz

The amount Canadians owe compared with their income ticked lower in the first quarter, but remained near record levels as mortgage debt continued to climb. Statistics Canada says the amount of household credit market debt as a proportion of household disposable income slipped to 166.9 per cent in the quarter compared with 167.2 per cent […]

Verizon takes over Yahoo
The Canadian Press - Jun 13, 2017 - Business Buzz

Verizon has taken over Yahoo, completing a $4.5 billion deal that will usher in a new management team to attempt to wring more advertising revenue from one of the internet’s best-known brands. Tuesday’s closure of the sale ends Yahoo’s 21-year history as a publicly traded company. It also ends the nearly five-year reign of Yahoo […]

Sears future in doubt
The Canadian Press - Jun 13, 2017 - Business Buzz

Sears Canada said Tuesday there is “significant doubt” about its ability to continue as a going concern and it could sell or restructure itself, the latest sign of how the retail sector is being upended by the rise of online shopping. The retailer, known for catalogues that were a staple in the homes of generations […]

Big banks on the defensive
The Canadian Press - Jun 13, 2017 - Business Buzz

Canada’s big banks defended their business practices Monday before a parliamentary committee that’s been exploring allegations of questionable sales methods at major financial institutions. The committee launched the hearings following media reports citing unnamed employees at the five largest banks who alleged they were pressured to sell unnecessary products and services in order to boost […]

CRTC chair won’t reapply
The Canadian Press - Jun 12, 2017 - Business Buzz

The chairman of Canada’s telecommunications regulator says he did not reapply for the role, days before his five-year term comes to an end. Jean-Pierre Blais says he believes he has made a difference since assuming the helm of the CRTC in June 2012 and plans to leave the job to others. He added he did […]

Marijuana sector eyes U.S.
The Canadian Press - Jun 12, 2017 - Business Buzz

Marijuana industry insiders say they have met with the operators of Canada’s largest stock exchange to devise a policy on investing in the U.S., where growing and selling cannabis violates federal laws. Lawyers who work with publicly traded Canadian marijuana producers say there is an unwritten rule that companies traded on the Toronto Stock Exchange […]

$2.6M lunch with Buffett
The Canadian Press - Jun 12, 2017 - Business Buzz

An anonymous bidder has agreed to pay more than $2.6 million for a private lunch with billionaire Warren Buffett, with the auction proceeds going to a California homeless charity. The winning bid of $2,679,001 was announced Friday night, as the online auction that started Sunday wrapped up. That’s lower than last year’s winning bid of […]

Today, you’re free from tax
Wayne Moore - Jun 09, 2017 - Business Buzz

Today is the day Canadians start working for themselves. According to the Fraser Institute, June 9 is Tax Freedom Day. It’s the day the institute says, if all taxes paid over the course of a year were paid up front, you’d begin to pocket your entire paycheque. The average Canadian family, with two or more […]

77,000 new jobs added
The Canadian Press - Jun 09, 2017 - Business Buzz

The labour market rode a surprisingly strong wave of new jobs last month as the country churned out 77,000 full-time positions, Statistics Canada said Friday. Overall, 54,400 jobs were added in May after accounting for declines in other categories including part-time work, the latest labour force survey says. The agency found that the national unemployment […]

The Bay cutting 2,000 jobs
The Canadian Press - Jun 08, 2017 - Business Buzz

Hudson’s Bay Co. announced Thursday it is eliminating 2,000 jobs throughout North America to help offset various challenges it’s facing within the retail sector, which has been beset by store closures with the advent of online shopping. The retail giant said the layoffs are intended to save $350 million annually once the plan is fully […]