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  • Pension funds are boosting bull market bets as stocks climb higher

    August 7, 2018 7:56 PM 12

    The risks to these systems are sizable losses during market downturns. Public pension funds lost hundreds of billions during the last financial crisis largely because of their exposure to public markets. They had 62% of their portfolio allocated to equities in 2007, according to Wilshire. The two largest public pensions in the U.S. — California Public

  • Air Transat, Flair Airlines sign on with Aimia as Aeroplan partners

    August 7, 2018 7:35 PM 14

    Partnership agreements between Aimia Inc. and two more Canadian airlines have taken flight, slated to take effect after the Montreal-based company’s current agreement with Air Canada ends in July 2020. One of Aimia’s new partners is Air Transat, a long-established airline owned by travel and leisure company Transat AT, based in Montreal. Aimia’s other

  • Bausch Health posts $873-million (U.S.) loss linked to tax cost, asset impairments

    August 7, 2018 7:14 PM 11

    MONTREAL—Bausch Health Companies Inc. posted a net loss of $873 million (U.S.) in the second quarter as the company formerly known as Valeant Pharmaceuticals experienced a bigger operating loss and a bigger provision for income taxes than last year. The company, which reports in U.S. currency, says it recorded a $138-million provision for income taxes

  • Elon Musk says he may take Tesla private and shares soar

    August 7, 2018 7:11 PM 14

    It’s highly unusual for the head of a major company make a significant announcement in such casual manner. The tweet prompted questions about how serious Musk’s intentions were. His asking price of $420 would be 22 per cent of Monday’s closing share price, and nearly 9 per cent above the stock’s all-time closing high of $385. The figure even drew some jokes

  • ‘Brady Bunch’ house sold to HGTV for home improvement show

    August 7, 2018 6:26 PM 11

    “I’m excited to share that HGTV is the winning bidder and will restore the Brady Bunch home to its 1970s glory as only HGTV can,” Discovery chief executive officer David Zaslav said on a conference call Tuesday. “More detail to come over the next few months, but we’ll bring all the resources to bear to tell safe, fun stories with this beloved piece of American

  • Saudi Arabia’s state airline will suspend its Canadian operations

    August 7, 2018 3:49 PM 14

    TORONTO—The diplomatic gulf between the federal government and Saudi Arabia widened to encompass travel on Tuesday as the country’s state airline announced it was suspending operations in Canada. A tweet from Saudia announced that its routes operating between the two countries would cease to function in a matter of days, marking the latest escalation

  • Lumber producer sees Canada-U.S. tussle over trees dragging on

    August 6, 2018 12:20 AM 10

    WINNIPEG—The odds of settling a long-running dispute between the U.S. and Canada over lumber are looking pretty bleak, according to a key producer. There’s been no progress to settle the Canada-U.S. fight over softwood lumber as governments have been more focused on renegotiating the North American Free Trade Agreement, said Yves Laflamme, CEO of Montreal-based

  • Canada overcomes Trump’s metal tariffs with record exports

    August 3, 2018 3:58 PM 15

    Exports rose 4.1 per cent to $50.7 billion, with energy shipments up 7.1 per cent to the highest since 2014 and aircraft sales jumping by almost 45 per cent. The return of several Canadian refineries to production after shutdowns also played a role in the 0.2 per cent decline in imports as demand for foreign gasoline tumbled. “Canadian trade was a large

  • A hidden Amazon fortune: Jeff Bezos’ parents could be worth billions, a stake that could be worth $30 billion today

    August 3, 2018 2:53 PM 13

    In 1995, Jackie and Mike Bezos plowed $245,573 into their son’s fledgling e-commerce website, according to a prospectus two years later. It was a big gamble, Mike Bezos, the stepfather of Amazon.com Inc. founder Jeff Bezos, recalled onstage during a 2015 event at the National Constitution Center in Philadelphia. “I want you to know how risky this is,” the son told his parents

  • Aimia in talks with Air Canada rival Oneworld alliance as potential Aeroplan partner

    August 2, 2018 7:54 PM 14

    Aeroplan operator Aimia Inc. and the Oneworld airline alliance confirmed Thursday they are in talks about a potential partnership for the loyalty points program, the same day a takeover offer led by Air Canada is set to expire. The Oneworld alliance, whose 13 members include British Airways, American Airlines and Cathay Pacific, is a direct competitor