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  • MetroCast acquisition pushes up Cogeco’s Q1 revenue, costs; profit declines

    January 11, 2019 2:23 PM 21

    MONTREAL - Cogeco Inc. says an acquisition by its cable and internet segment pushed up first-quarter revenue, but profit was down due to higher costs associated with integrating and restructuring the business. The Montreal-based company says last year’s acquisition of the MetroCast cable systems by Cogeco Communications Inc. was the main reason Cogeco

  • RBC’s CEO vows improvement to disappointing mortgage performance

    January 11, 2019 12:41 PM 23

    Margins in the domestic mortgage business “were challenged” and the market was “super competitive” last year, McKay said. Toronto-based Royal Bank, Canada’s largest mortgage lender, with $246.9 billion (Canadian) of home loans as of Oct. 31, will do better and gain back some market share this year, McKay said. He expects the domestic mortgage market

  • Draw for Ontario’s pot licence lottery expected today, with results within 24h

    January 11, 2019 9:00 AM 21

    TORONTO - Ontario could announce the results of a lottery to apply for the first 25 retail cannabis licences as early as today. Those seeking to open a pot shop in the province had from Monday to early afternoon Wednesday to submit an expression of interest. The Alcohol and Gaming Commission of Ontario, which will regulate the province’s retail cannabis

  • Postmedia’s Paul Godfrey passes baton to Andrew MacLeod, who takes on CEO’s job

    January 10, 2019 10:14 PM 28

    TORONTO - Paul Godfrey is stepping down as CEO of Postmedia Network Canada Corp. but will remain as executive chairman of the company, which owns the National Post, other newspapers and digital publications. Andrew MacLeod, who has been Godfrey’s second in command since 2016, becomes Postmedia’s chief executive officer. The announcements came as the owner

  • Japanese auto supply giant Denso joins Montreal AI cluster with new R&D lab

    January 10, 2019 9:22 PM 25

    Quebec premier Francois Legault, on hand for the downtown announcement, said AI will yield productivity gains across the globe and increase nominal GDP in Quebec by more than $4 billion annually. Over the past few years, Montreal’s booming big-data sector has lured corporate behemoths such as Facebook, Microsoft Corp., Google parent Alphabet Inc., Royal

  • From iPads to charcuterie, how realtors woo buyers to an open house

    January 10, 2019 3:07 PM 23

    “Food is what drives people in,” said Alles, a real estate agent at Sutton Group Summit Realty in Mississauga, Ont. “We’re trying to make it an event, as opposed to a traditional open house.” The open house at the townhouse in Burlington, Ont., west of Toronto, last May drew in more than 200 people over four hours on a sunny Sunday afternoon. There were free tacos

  • Aimia completes sale of Aeroplan loyalty program to Air Canada, repays debt

    January 10, 2019 2:17 PM 22

    MONTREAL—Aimia Inc. says it has completed the sale of its Aeroplan loyalty program to Air Canada and used the majority of the proceeds to repay debt. The company says gross proceeds from the sale totalled roughly $497 million (U.S.) after adjustments related to working capital. At closing, about $308 million was used to repay and terminate Aimia’s credit

  • Northwestern B.C. First Nation expects RCMP to enforce injunction

    January 9, 2019 4:12 PM 18

    HOUSTON, B.C.—Members of the Wet’suwet’en First Nation in northwestern British Columbia expect RCMP may serve an injunction at a protest camp on a remote forest service road southwest of Houston within hours. The camp was established almost 10 years ago as a checkpoint to manage entry to traditional territories, but an injunction issued late last year ordered

  • Bombardier signs $669M rail car deal with N.J., but no work north of border

    January 9, 2019 4:05 PM 26

    MONTREAL—Bombardier Inc. has signed a $669-million (U.S.) deal to provide 113 commuter rail cars to New Jersey. The company says the contract will yield no additional work in Canada, with Buy American rules prompting Bombardier’s plant in Plattsburgh, N.Y., to build the multi-level cars, rather than its facility in Quebec. As of 2018, at least 65 per cent of the cost of components

  • TransCanada drops ‘Canada’ from its name after 67 years

    January 9, 2019 2:10 PM 26

    “The name TC Energy clearly articulates our complete business – pipelines, power generation and energy storage operations – and reflects our continued continental growth into an enterprise with critical assets and employees in Canada, the United States and Mexico,” chief executive officer Russ Girling said in a statement Wednesday. Fittingly, the name change