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  • Number of EI recipients little changed in October: StatsCan

    December 19, 2013 2:07 PM 44

    OTTAWA -- Statistics Canada says the number of people receiving regular employment insurance benefits was little changed in October at 510,500, following a decline in September. It says the number of beneficiaries was down 8.4 per cent compared with October 2012. The agency says British Columbia, Alberta and Saskatchewan were the only provinces with notable

  • TSX to step back after big gains sparked by Fed decision to taper stimulus

    December 19, 2013 1:34 PM 48

    TORONTO -- The Toronto stock market looked set for a weak open Thursday, a day after markets responded enthusiastically to the Federal Reserve's decision to modestly cut back on a key stimulus program. The Fed also emphasized that short-term rates aren't going up any time soon. A stronger American currency pushed the Canadian dollar down to mid-2010 lows, moving

  • Ontario’s caribou faring poorly, parks report finds

    December 19, 2013 12:50 PM 56

    Caribou faring worse in Ontario than other provinces, a new report from the Canadian Parks and Wilderness Society has found. A new report says caribou conservation is failing across the country and gives middling to poor grades to nine provinces and territories, blaming industrial development within caribou ranges for a sharp decline in their population

  • Canadian consumer debt to hit record $28,853 in 2014: TransUnion forecast

    December 19, 2013 11:17 AM 47

    TORONTO, Ontario -- Credit-monitoring agency TransUnion says the non-mortgage debt of Canadians is likely to set a record next year. In its first such annual forecast, TransUnion predicts the average consumer's total non-mortgage debt will hit an all-time high of $28,853 by the end of 2014. That would be about $1,100 more than the $27,743 of debt consumers

  • Markets take off on Fed news

    December 19, 2013 9:18 AM 57

    Stimulus: $85 billion US in monthly bond purchases to be cut by $10 billion North American stock markets closed sharply higher Wednesday as the U.S. Federal Reserve ended months of speculation and announced it will start cutting back on its monthly asset purchases. The central bank said at the end of its twoday interest rate meeting that it would cut its $85 billion

  • WestJet wants to land jets at island airport: report

    December 19, 2013 2:45 AM 50

    TORONTO – WestJet is hoping to fly jets in and out of Billy Bishop Airport, according to a report in Bloomberg News. “We would like to have access to the island airport but there are no slots available,” WestJet CEO Gregg Saretsky told Bloomberg. “We would like to have the opportunity to fly jets ourselves from that airport. The 737 is capable of operating

  • Héroux’s lucrative deal with Boeing is being challenged

    December 18, 2013 11:06 PM 60

    MONTREAL — A “transformational” deal that Héroux Devtek Inc. signed with Boeing Co. in September is being dragged before arbitrators. The Longueuil landing-gear maker disclosed Wednesday that a long-standing business partner, now called UTC Aero Systems, is contesting that deal, alleging that it breaks a non-compete covenant signed by Héroux Devtek and UTC. Héroux

  • Nova Chemicals invests $300M in Sarnia-Lambton facilities

    December 18, 2013 8:49 PM 58

    NOVA Chemicals will invest $300 million in its existing Sarnia-Lambton facilities in western Ontario. The upgrades and increase in capacity will take place over the next four years. The investment is the next phase of NOVA Chemicals' long-term growth strategy in the region. It will help the company expand ethylene production capacity at its Corunna site and upgrade

  • Wall sees tighter budget belts in Sask.'s future

    December 18, 2013 5:56 PM 61

    Saskatchewan Premier Brad Wall is trying to manage expectations ahead of the next provincial budget. At a news conference to boast about population growth, Wall warned that just because the economy is strong that doesn't mean provincial coffers will be flush with revenue. He says the government is heading into a year where finances will be tighter, and the budget

  • Auction OK’d for railroad in Quebec derailment

    December 18, 2013 5:35 PM 64

    Microsoft says new CEO won’t be named until early 2014 Trustee Robert Keach said the goal is to sell the railroad’s operations in Maine and Canada in a way that allows the rail service to continue. “We think we’ll have a robust auction process that’ll produce a buyer or buyers who’ll operate the railroad in the public interest,” he said. Any proceeds