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  • Spotify suffers its worse day on the NYSE after releasing subscriber numbers

    May 3, 2018 5:19 PM 11

    Spotify’s now has a reported 75 million premium users, which matched its projections, but it wasn’t the breakout growth shareholders expected. “Sometimes, the market just gets stupid and just trades on its own momentum,” chief financial officer Barry McCarthy said. The broader music business is staging a comeback, and the big question surrounding Spotify

  • Canada's trade deficit surges to record $4.1B in March

    May 3, 2018 2:09 PM 25

    Trade surplus with United States narrowed for the fifth month in a row Canada's trade deficit ballooned to a record $4.1 billion in March as an import surge in consumer goods, cars and car parts far outweighed Canadian exports. Imports climbed six per cent to $51.7 billion, Statistics Canada said. More than one-fifth of that was cars and car parts, which

  • Canadian airlines to resume flights next winter to St. Maarten, Puerto Rico

    May 1, 2018 7:50 PM 20

    A recently released study says last fall’s hurricane season resulted in an estimated loss of 826,100 visitors to the Caribbean and about $741 million (U.S.) in spending. Air Canada says it is monitoring the situation on both islands and is expecting to operate its normal schedule to these seasonal destinations. Air Transat and Air Canada resumed service

  • Uber and Lyft threatening premiums on homes near public transit

    May 1, 2018 7:17 PM 18

    New York—The premium that a condo near the train has long commanded is under threat. Ride-sharing services such as Uber Technologies Inc. and Lyft Inc., and the advent of electric vehicles and driverless cars, are poised to chip away at the higher prices that real estate around subways and bus stops has earned, according to a report from MetLife Inc.’s asset-management

  • Yahoo owner changes terms of service after privacy watchdog investigation

    May 1, 2018 6:25 PM 18

    The federal privacy watchdog says Oath decided one of the clauses in the terms of service agreement is unnecessary. The company that operates the Yahoo email service has changed its Canadian terms of service to remove some of the new wording that has upset users and prompted an investigation by the federal privacy watchdog. The Office of the Privacy

  • Sainsbury's CEO Mike Coupe caught singing We're in the Money after buying Asda chain

    May 1, 2018 2:43 PM 31

    Chief executive saw his personal net worth increase by $870,000 with purchase deal The CEO of British supermarket chain Sainsbury's has apologized after being caught on camera singing We're in the Money after the takeover of Walmart's unit Asda. Mike Coupe was preparing for an ITV interview to discuss the $10 billion US deal when caught on microphone

  • CIBC hikes mortgage rates, too

    May 1, 2018 12:26 PM 16

    The Canadian Imperial Bank of Commerce says it will raise its five-year fixed-rate mortgage rate Tuesday by 15 basis points. Spokesman Tom Wallis says in an email that the rate will change from 4.99 per cent to 5.14 per cent. Wallis says seven-year and 10-year fixed-rate mortgage rates will also rise 15 basis points, whereas one- and two-year rates will go up 10 basis

  • WhatsApp co-founder to quit in loss of privacy advocate at Facebook

    April 30, 2018 10:19 PM 16

    Jan Koum's plan to exit comes after clashing with Facebook over strategy, use of personal data: report The co-founder of WhatsApp, a messaging service owned by Facebook Inc. with more than 1 billion daily users, said on Monday he was leaving the company, in a loss of one of the strongest advocates for privacy inside Facebook. Jan Koum's plan to exit comes

  • Amazon to expand Vancouver tech hub, create 3,000 jobs

    April 30, 2018 6:21 PM 15

    Amazon also plans on building a new office tower on the site of the city’s old post office. Dougherty says the current structure’s architectural features will be preserved, and the tower is expected to open in 2022. Prime Minister Justin Trudeau attended the announcement and said innovation will help drive economic growth and improve the lives of middle-class

  • Air Canada reports $170M first-quarter loss, revenue up from year ago

    April 30, 2018 3:42 PM 13

    Air Canada shares climb in morning trading on TSX Air Canada reported a smaller-than-expected loss in its first quarter as its revenue grew compared with a year ago, boosted by increased capacity and passenger traffic. The airline says it lost $170 million or 62 cents per diluted share for the quarter compared with a loss of $13 million or five cents