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  • Aimia adds new president and chief strategy officer in wake of Aeroplan deal

    August 27, 2018 6:15 PM 23

    MONTREAL—Aimia Inc. has named Nathaniel Felsher as president and chief strategy officer, less than a week after announcing a deal to sell its flagship Aeroplan loyalty program to a consortium led by Air Canada. Felsher, who joins Aimia from Deutsche Bank in New York, where he co-headed the firm's aviation corporate and investment banking group, will report

  • Tesla will remain public at request of shareholders, says Elon Musk

    August 25, 2018 4:08 AM 14

    The decision is a stunning reversal after Musk shocked the financial world Aug. 7, tweeting that he wanted to take the electric-car maker private at $420 a share and had “funding secured.” In a subsequent blog post, he indicated that no such financing deal had been closed. The tweet has drawn a subpoena from the Securities and Exchange Commission, according

  • Cannabis company Tidal takes cue from small-cap Canadian miners

    August 24, 2018 4:46 PM 11

    Aurora Cannabis Inc., the second biggest company in the sector, listed via a reverse takeover deal with Prescient Mining Corp. Meanwhile, investment bankers like GMP Capital Inc. and Canaccord Genuity Group Inc. moved into pot in a big way after mining deals dried up during the commodity slump that followed the financial crisis. Canaccord last year was the biggest

  • WTO warns U.K. faces difficult shift to Bloc’s rules post-Brexit

    August 24, 2018 4:30 PM 10

    The head of the World Trade Organization said the U.K. risks trade disruption in the event of a no-deal Brexit because it is “very unlikely” to have agreed tariffs and quotas with the other WTO members in time. “The moment that other countries begin to sense an opportunity to increase their market share or increase a quota here or there, they are going

  • Toronto stocks pushed higher by energy sector, loonie trades higher

    August 24, 2018 3:41 PM 10

    Strength in the energy sector, helped by a rising price for oil, helped Canada’s main stock index push higher in late-morning trading. In New York, the Dow Jones industrial average was up 134.10 points at 25,791.08. The S&P 500 index was up 15.05 points at 2,872.03, while the Nasdaq composite was up 64.06 points at 7,942.52. The Canadian dollar traded

  • Facebook bans myPersonality app over concerns used data misued

    August 24, 2018 2:53 AM 14

    Facebook said it would notify the app’s users that their data was misused. It’s only the second time Facebook has banned an app, after it blocked one linked to political data mining firm Cambridge Analytica that sparked a privacy scandal. The company said myPersonality was “mainly active” prior to 2012, and it wasn’t clear why Facebook was taking action

  • CIBC’s three-year streak of outpacing rivals on mortgages ends

    August 23, 2018 6:12 PM 14

    Mortgage balances rose 2.5 per cent to $208.5 billion ($160 billion) in the fiscal third quarter from a year earlier, the Toronto-based bank said Thursday in announcing earnings that beat analysts’ estimates. That’s the slowest in more than four years and about one-fifth the pace of a year ago. The deceleration ends CIBC’s three-year streak of outpacing

  • Migrant tailors stitch together new lives in Italy

    August 23, 2018 6:02 PM 12

    Doumbia said he fled ethnic tensions in Ivory Coast only to realize that the countries to which he had fled — Mali, Algeria and then Libya — were also dangerous. He undertook the risky sea crossing in a rubber dinghy, arriving in Italy in 2016. He received papers allowing him to work while he awaits a response on his asylum request. Bakary Bamba was also born and raised

  • Irving Oil signs deal to acquire Irish-based group of energy companies

    August 21, 2018 6:14 PM 16

    “We are looking forward to joining Irving Oil and continuing to grow and develop our business under its umbrella,” Top Oil chief executive Gerard Boylan said in a statement. A news release from Irving said Top Oil recently expanded operations into aviation fuel, and sells more than one billion litres of fuel every year to commercial and residential consumers

  • Aimia accepts Air Canada’s sweetened $450M bid for Aeroplan

    August 21, 2018 3:01 PM 19

    A group led by Air Canada agreed to buy Aimia Inc.’s Aeroplan for $450 million in cash, ending a takeover battle for one of Canada’s most popular loyalty programs. Air Canada and its banking partners sweetened their bid for Aeroplan, winning over Aimia’s board and an activist shareholder that was seeking a higher price. Air Canada initially made a $250 million