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20:25 Ontario Budget 2017: Toronto gets new taxes, but not the big bucks it was looking for

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14:30 Toronto homeowners cash out of hot real estate market amid uncertainty

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Business

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  • Sears Canada seeks reinvention as it falls to insolvency

    June 22, 2017 10:06 PM 6

    Insolvent Sears Canada Inc. has got court protection from its creditors in a last-ditch effort to slim down and shape up after years-long attempts to transform its business, leaving industry insiders now questioning the retailer’s long-term viability. The money-losing retailer is preparing to close 59 of its 255 stores – including 20 of its 94 large

  • Sears to cut 2,900 jobs, close 59 stores in restructuring

    June 22, 2017 9:29 PM 9

    Sears Canada will close 20 department stores across Canada and 39 smaller store locations, after being granted court protection from creditors Thursday morning in Toronto in order to restructure the business. In all, 2,900 jobs will be lost, including 500 in administration, effective immediately and 2,400 from store closures over the coming weeks

  • Sears closures in Saint John, Bathurst mark end of retailing landmarks, cities say

    June 22, 2017 8:45 PM 15

    Sears Canada will close two of its four New Brunswick department stores, the retailer announced Thursday. Stores in Saint John and Bathurst will be shut down, although the timing has not been decided, Sears said. Sears has about 100 employees at the Saint John store and another 46 in Bathurst, said Vincent Power, a spokesperson for Sears Canada. Most of the employees

  • Postmedia selling Infomart division

    June 22, 2017 7:24 PM 10

    Proceeds to be use to pay down debt Postmedia Network Canada Corp. has signed a deal to sell Infomart, its media monitoring division, to Meltwater News Canada Inc. for $38.25 million. The cash-strapped media company says net proceeds from the sale will be used to repay debt. The arrangement includes Infomart's media monitoring business, direct feed business

  • Warren Buffett's company buys into troubled Home Capital Group

    June 22, 2017 6:29 PM 7

    Berkshire Hathaway plans to acquire $400 million of common shares in Home Capital Home Capital Group Inc. shares surged higher Thursday on news that the troubled mortgage lender has arranged $400-million in equity investments and other financial support from companies run by famed billionaire investor Warren Buffett. A subsidiary of Berkshire Hathaway

  • Sears Canada closing 59 locations, cutting 2,900 jobs

    June 22, 2017 5:24 PM 8

    TORONTO -- Sears Canada will close 59 stores and cut approximately 2,900 jobs under a court-supervised restructuring, the beleaguered retailer said Thursday following years of dwindling sales and a revolving door of top executives. The announcement came after the Ontario Superior Court of Justice granted the department store chain temporary protection

  • TSX rises in broad-based advance, Canadian dollar slightly up

    June 22, 2017 4:37 PM 9

    The Canadian dollar was trading at 75.63 cents U.S., up from Wednesday’s average price of 75.13 cents. Canada’s leading stock index was higher in morning trading today in a broad-based advance. The Toronto Stock Exchange’s S&P/TSX composite index was up 97.91 points to 15,246.44 after 90 minutes of trading. In New York, the Dow Jones industrial average

  • At midday: TSX lifted by energy, financial stocks, Home Capital jumps Add to ..

    June 22, 2017 4:17 PM 9

    Canada’s main stock index rose modestly on Thursday as the energy and financial sectors advanced, while non-bank lender Home Capital Group jumped after it said it would get a line of credit from Berkshire Hathaway Inc. Home Capital reached a settlement last week with the Ontario Securities Commission and accepted responsibility for misleading investors

  • Sears Canada to close 59 stores, cut 2,900 jobs Add to ..

    June 22, 2017 3:03 PM 7

    Ailing Sears Canada Inc. on Thursday got court protection from its creditors so it can close 59 stores – including 20 large department stores – and let go about 2,900 of its 17,000 employees to continue operating and possibly sell the business. Toronto-based Sears said it is closing 20 of its 94 department stores, plus 15 of its home stores, 10 outlet

  • Sears Canada closing 59 stores, including Cambridge location

    June 22, 2017 2:49 PM 11

    The Sears Canada outlet store at the Cambridge Centre mall is one of 59 Sears locations slated for closure, company officials announced Thursday. The announcement came as the company revealed that it is seeking court protection from its creditors so that it can restructure its business. All other local Sears Canada stores are expected to remain open. Other