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  • #16
    'A pretty greedy time' as profits soar for Canadian banks: Don Pittis

    The profits announced by Canada's banks over the last week have been nothing less than astounding.

    Whether the banks can keep on doing well matters to all Canadians, but are they being greedy?

    Yesterday the Bank of Montreal said it had made about $1.5 billion in three months.

    That may be hard to put in context until you hear that it is an increase in profit of nearly 40 per cent from the same period last year and dramatically higher than stock watchers had been expecting.



    More: http://www.cbc.ca/news/business/cana...sing-1.4002725

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    • #17
      Binary options—the latest investment scam that's costing victims everything


      Canadian securities regulators have started a task force to raise awareness and protect Canadians from the latest investment scam, so-called binary options that can cost investors everything they have — including their lives.

      "Binary options fraud is a leading type of investment fraud facing Canadians today," said Jason Roy, chair of the newly formed task force set up by Canadian Securities Administrators. "We want Canadians to know that there are no registered individuals or firms permitted to trade these products in Canada."



      More: http://www.cbc.ca/news/business/bina...scam-1.4007066

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      • #18
        Telecoms made $37 million last year charging to unlock cellphones

        Canadian telecoms made a total of $37.7 million last year by charging customers to unlock their cellphones. That's a whopping 75 per cent jump in this source of revenue compared to 2014.

        Telecoms often order locked phones from manufacturers that are programmed to work only with their service. Then they charge a fee — typically $50 — to unlock the phone if a customer wants to switch providers.

        The charge is unpopular with consumers. It has even been referred to it as a 'ransom fee.'



        More: http://www.cbc.ca/news/business/cell...crtc-1.4009436

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        • #19
          Royal Dutch Shell signs deals to sell oilsands assets

          Royal Dutch Shell says it has signed two agreements to sell its undeveloped oilsands interests in Canada for a net consideration of US$7.25 billion.

          Under the first agreement, the Anglo-Dutch energy giant will reduce its 60 per cent interest in the the Athabasca Oil Sands Project to 10 per cent and sell its 100 per cent interest in the Peace River Complex in-situ assets, including Carmon Creek, and a number of undeveloped oilsands leases in Alberta to a subsidiary of Canadian Natural Resources Ltd.




          More: http://www.cbc.ca/news/business/shel...ands-1.4016874

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          • #20
            Canada Jobless Rate Falls to Two-Year Low Even as Wages Lag


            Canada’s labor market continued its rally into February, bringing the unemployment rate to the lowest in more than two years, but with continued signs of sluggish wage increases.

            Canada added 15,300 jobs in February, and employment has increased by 288,100 over the past 12 months, Statistics Canada reported today in Ottawa. The unemployment rate fell to 6.6 percent, matching the lowest since January, 2015 which was the lowest since 2008. The net job gain reflected an increase of 105,100 full-time jobs and a drop of 89,800 part-time.



            More: https://www.bloomberg.com/news/artic...n-as-wages-lag

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            • #21
              7 things to watch for in today's federal budget

              Finance Minister Bill Morneau's second federal budget isn't expected to match last year's big-ticket spending commitments.

              The big Liberal moves for the middle class rolled out for 2016. The 12-year infrastructure plan was the headline of the fall economic statement.

              The cupboard is bare now. Liberals are borrowing for the foreseeable future.

              So, what's likely in 2017? Smaller, strategic moves. Here's what to look for.



              More: http://www.cbc.ca/news/politics/budg...ncer-1.4033985

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              • #22
                Husky crude oil spill in southwest Alberta estimated at 25k litres

                Husky Energy says about 25,000 litres of crude oil leaked from one of its pipelines in southwestern Alberta last week.

                Spokesman Mel Duvall said in an email to The Canadian Press that cleanup at the site at Cox Hill Creek west of Bragg Creek is progressing well.

                But he added the terrain where the leak happened is "very rocky and difficult."

                The area where the Husky pipeline leaked is popular for hiking, camping and other outdoor recreation.



                More: http://www.cbc.ca/news/canada/calgar...-oil-1.4037469

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                • #23
                  Bombardier defends pay structure after public outcry over executive pay increases

                  Bombardier was doing damage control Saturday in the face of an uproar over a hefty increase in compensation to senior management, but the company's explanations didn't satisfy all its critics.

                  Bombardier issued an open letter explaining the company's compensation policies and called it "inappropriate" to compare the 2016 compensation to that of the previous year.

                  Bombardier must compete with firms globally to recruit and retain talent, said the letter from Jean Monty, the head of Bombardier's human resources and compensation committee.



                  More: http://www.cbc.ca/news/canada/montre...ases-1.4051413

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                  • #24
                    Shoe chain Payless files for bankruptcy protection


                    Shoe chain Payless ShoeSource has filed for U.S. Chapter 11 bankruptcy protection, becoming the latest retailer to succumb to increasing competition from online rivals like Amazon.

                    The Topeka, Kan.-based retailer said Tuesday it will immediately close nearly 400 stores as part of the reorganization. It has over 4,400 stores in more than 30 countries, including Canada, and was founded in 1956.

                    Payless plans to reduce its debt by almost 50 per cent, lower how much it pays in interest and line up funds. The company says some of its lenders have agreed make available up to $385 million to keep the stores running.


                    More: http://www.cbc.ca/news/business/payl...tion-1.4055813

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                    • #25
                      Unnecessary care in Canada tops 1 million tests and treatments a year

                      Canadians have more than a million tests or treatments a year that don't help patients and may be harmful, according to a new report.

                      The report, Unnecessary Care in Canada, was released Thursday by Choosing Wisely Canada, a campaign to reduce unnecessary use of health care, and by the Canadian Institute for Health Information (CIHI).

                      "They're tests and treatments that don't help patients and can even in some cases be harmful and they certainly don't help the health-care system use its resources wisely," said Dr. Wendy Levinson, chair of Choosing Wisely Canada and a professor of medicine at the University of Toronto.




                      More: http://www.cbc.ca/news/health/tests-...cihi-1.4057702

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                      • #26
                        Canada added 19,400 jobs in March, unemployment up slightly

                        Canada's unemployment rate ticked up slightly in March to 6.7 per cent, after falling in February to its lowest level since October 2008.

                        Employment grew by 19,400 jobs in March, an increase of 0.1 per cent, according to Statistics Canada. But a rise in the number of people looking for work added to the unemployment rate, which rose by 0.1 points from 6.6 per cent.

                        On average, economists surveyed by Bloomberg had expected the Canadian economy to add 5,930 new jobs for the month.

                        Canada had added 15,000 jobs in February, and an unexpected 48,000 jobs in January.



                        More: http://www.cbc.ca/news/business/jobs...2017-1.4060044

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                        • #27
                          Loblaw plans to open 30 new stores and upgrade more than 500 others



                          BRAMPTON, Ont. - Loblaw said Thursday that it plans to open 30 new stores and renovate more than 500 existing stores as it continues to adapt to changes in the food retail sector.



                          More: http://www.ctvnews.ca/business/lobla...hers-1.3367002

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                          • #28
                            Ottawa to introduce legislation to address airline bumping


                            Canada will introduce new legislation this spring that will address the problem of travellers being bumped from flights, the federal government said Monday, as the violent dragging of a passenger off an overbooked flight in the U.S. unleashed anger over the practice.

                            A spokesperson for Transport Minister Marc Garneau said bumping rules will be included in an air passenger bill of rights that was promised last fall to establish clear, minimum requirements for compensation when flights are oversold or luggage lost.


                            More: http://www.cbc.ca/news/business/unit...neau-1.4065228

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                            • #29
                              Canada's GDP unchanged in February

                              Canada's economy didn't expand in February, as a slight uptick in the service sector was offset by a small decline in the goods-producing sector.

                              Statistics Canada reported Friday that the construction, real estate, finance and insurance sectors continued to expand, but manufacturing, mining, quarrying, and oil and gas extraction all declined.

                              The total output of the economy in February was about the same as the month before — a little over $1.7 trillion. While flat on a monthly basis, Canada's economy was 2.5 per cent bigger in February than the same time last year.



                              More: http://www.cbc.ca/news/business/canada-gdp-1.4089813

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                              • #30
                                Canada's GDP unchanged in February

                                Canada's economy didn't expand in February, as a slight uptick in the service sector was offset by a small decline in the goods-producing sector.

                                Statistics Canada reported Friday that the construction, real estate, finance and insurance sectors continued to expand, but manufacturing, mining, quarrying, and oil and gas extraction all declined.

                                The total output of the economy in February was about the same as the month before — on track for a little over $1.7 trillion, on an annualized basis. While flat on a monthly basis, Canada's economy was 2.5 per cent bigger in February than the same time last year.



                                More: http://www.cbc.ca/news/business/canada-gdp-1.4089813

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