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  • Hong Kong-based company to spend $350M to expand capacity in Ontario, premier says

    December 2, 2017 5:16 PM 9

    HONG KONG -- Ontario Premier Kathleen Wynne says Johnson Electric will invest more than $350 million in new equipment and capacity in Ontario, which she says is expected to create 326 new jobs. Wynne, who is on a trade mission to China and Vietnam, made the announcement from Hong Kong, where Johnson Electric is based. She says the company, which makes

  • Class action lawsuit against PayPal alleges hidden currency conversion fees

    December 1, 2017 9:03 PM 9

    TORONTO - A class action lawsuit has been filed against PayPal Canada on behalf of an Ontario man alleging that the online payments company charges Canadians hidden currency conversion fees, violating its user agreement. Court documents filed to the Ontario Superior Court on Nov. 24 on behalf of Leonid Kaplan state that when PayPal Canada account holders

  • Bitcoin rebounds after U.S. regulator approves futures

    December 1, 2017 4:24 PM 8

    CME, CBOE to be 1st traditional U.S. regulated exchanges to list bitcoin-related financial contracts Bitcoin rebounded on Friday to hit the day's highs above $10,500 US, recovering from an earlier dip below $9,500 US, after the U.S. derivatives regulator said it would allow CME Group and CBOE Global Markets to list bitcoin futures. The announcement by the Commodity

  • National Bank reports fourth-quarter profit up from year ago, raises dividend

    December 1, 2017 12:10 PM 7

    MONTREAL - National Bank of Canada raised its dividend as it reported fourth-quarter net income grew to $525 million. The bank (TSX:NA) increased its quarterly payment to its common shareholders by two cents to 60 cents per share. The move came as National Bank says its net income amounted to $1.39 per diluted share for the quarter ended Oct. 31, up from $307 million

  • Maple Leaf further expands into alternative proteins with US$120M acquisition

    December 1, 2017 11:45 AM 9

    TORONTO - Maple Leaf Foods Inc. says it's acquiring Seattle-based Field Roast Grain Meat Co. for US$120 million in a bid to further strengthen its position in the alternative proteins market. CEO Michael McCain says the deal aligns with the Toronto-based packaged meats company's vision to be a leader in sustainable protein. Field Roast has products marketed

  • American Airlines says it has found pilots for most Christmas flights

    November 30, 2017 7:13 PM 13

    DALLAS -- American Airlines says only a few hundred of its late December flights remain without pilots scheduled to fly the plane. A spokesman said Thursday that pilots were picking up extra flights and the airline had more on-call pilots in December than during other months. He said American has not cancelled any December flights. The pilots' union

  • U.S. governors to Canada: Use NAFTA to relax duties on online purchases

    November 30, 2017 4:49 PM 17

    WASHINGTON - Several U.S. state governors are pressing Canada for freer trade in online goods. Eight governors have written a letter seeking a drastic expansion in the $20 duty-free limit Canada allows for online purchases. Their letter to Foreign Affairs Minister Chrystia Freeland and U.S. trade czar Robert Lighthizer says the NAFTA talks are an opportunity

  • Energy stocks lead TSX surge; Canadian dollar falls

    November 30, 2017 4:38 PM 10

    The S&P/TSX composite index was up 98.25 points to 16,065.97, after 90 minutes of trading while the loonie was trading at 77.62 cents U.S., down from 77.80 cents U.S. on Wednesday. Canada’s main stock index surged higher in late-morning trading, boosted by strength in the energy sector. The S&P/TSX composite index was up 98.25 points to 16,065.97, after

  • CIBC's Q4 net income up 25 per cent from year ago to cap record annual profit

    November 30, 2017 11:46 AM 18

    TORONTO -- The Canadian Imperial Bank of Commerce reported a 25 per cent jump in net income to $1.16 billion in its latest quarter on strong domestic earnings and better-than-expected performance in the U.S. after acquiring a Chicago-based bank. CIBC (TSX:CM) said Thursday its net income for the three months ended Oct. 31 amounted to $2.59 per diluted

  • News Correction for Nov. 30

    November 29, 2017 9:07 PM 9

    A headline on a Nov. 29 article about the Scarborough subway extension plan mistakenly said, 'Subway little better than LRT for Malvern residents'. In fact, as stated correctly in the article, replacing the Scarborough RT with an LRT would see transit travel times cut in half compared to the current SRT or a future subway. The Toronto Star and thestar