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

    April 30, 2018 2:06 PM 15

    The airline says its revenue was boosted by increased capacity and passenger traffic. MONTREAL—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

  • Canadian markets run by TMX Group close hours early due to technical problem

    April 27, 2018 6:51 PM 27

    The Toronto Stock Exchange and Montreal Exchange have shut down early for the day as a result of technical problems that erupted about 2 p.m. The Toronto-based company that owns the exchanges announced the unusual decision through Twitter. A spokesperson for Toronto-based TMX Group said the company was investigating the cause of the disruption but would

  • Amazon Prime membership price not going up in Canada

    April 27, 2018 4:51 PM 29

    U.S. price rising to $119 from current $99 annually The price of Amazon Prime in Canada isn't going up, despite a pending bump to the cost of the annual membership fee in the United States. Amazon revealed Thursday that the Prime fee for U.S. consumers will rise to $119 US a year, up from the current $99 US. The higher fee will go into effect for new members

  • 7 facts to help you understand how much money tech companies are making

    April 27, 2018 3:50 PM 26

    Facebook, Microsoft, Amazon and Google parent Alphabet reported unexpectedly large profits this week. Apple releases earnings on Tuesday. Everyone knows the tech industry is rich, but it can be challenging to get your head around just how much money it’s minting. Four of the industry’s giants — Facebook, Microsoft, Amazon and Google parent Alphabet — reported

  • Saks Fifth Avenue data breach lasted nine months: HBC

    April 27, 2018 3:26 PM 27

    Hudson Bay said Friday that the breach began as early as July 1 last year but has been contained since March 31. A previously announced data breach at Saks Fifth Avenue, Saks Off 5th and Lord & Taylor locations in the United States lasted about nine months before it was detected and shut down last month, Hudson’s Bay Co. said Friday. The Toronto-based

  • Canada's housing market still 'highly vulnerable,' CMHC says

    April 26, 2018 4:57 PM 20

    Overbuilding in Alberta and Saskatchewan combined with high prices in 4 cities hurt outlook High prices getting even higher in places like Toronto, Vancouver, Victoria and Hamilton are making Canada's national housing market "highly vulnerable," the CMHC said Thursday. The CMHC then rates each city and each category on a colour-coded system, whereby

  • Samsung chip exports soar as firm warns of smartphone struggle

    April 26, 2018 4:52 PM 24

    Seoul—Samsung Electronics Co. beat analysts’ profit estimates on booming exports of memory chips, but warned of challenges in smartphone demand in the coming months. Net income rose to 11.6 trillion won ($13.8 billion) in the three months ended March, the Suwon, South Korea-based company said in a filing Thursday, exceeding the 10.9-trillion-won average

  • Board fight brewing at DavidsTea

    April 26, 2018 3:36 PM 24

    Montreal-based DavidsTea says co-founder Herschel Segal is trying to gain control of the board without paying a premium by pushing the election of seven director nominees at its annual meeting June 14. The board of DavidsTea is fighting back against a co-founder's attempt to replace them with a dissident slate of nominees. In a statement today, the Montreal-based

  • ConocoPhillips wins $2 billion arbitration against Venezuela

    April 25, 2018 8:40 PM 21

    CARACAS, Venezuela—ConocoPhillips says it won a $2 billion arbitration award against Venezuela’s state oil company over the seizure a decade ago of investments in two projects in the OPEC nation. The award represents the equivalent of more than 20 per cent of the cash-strapped Venezuelan government’s foreign currency reserves. The Houston-based company

  • Saskatchewan government seeks Court of Appeal ruling on federal carbon tax

    April 25, 2018 6:31 PM 21

    The Saskatchewan government wants to know whether Ottawa’s plan to bring in a carbon price for provinces that don’t have one violates the Constitution. “Provinces are not subsidiaries of the federal government and in Saskatchewan we have a plan. Our plan reduces emissions without a carbon tax.” The federal climate plan calls for the taxing of greenhouse