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  • Restaurant chain Freshii withdraws 2019 outlook after widely missing third-quarter results

    November 8, 2018 12:28 AM 14

    The company, which reports in U.S. dollars, said its net loss attributable to shareholders was $459,000 or one cent per share during the period ended Sept. 30. That’s compared with a $514,000 or two cents per share loss a year earlier. Sales for restaurants open at least a year, a key retail metric, decreased 0.8 per cent compared with a same-store sales

  • Vancouver expects $30 million in first year of empty homes tax

    November 7, 2018 7:56 PM 14

    Owners who don’t declare that status will be taxed, which amounts to one per cent of a property’s assessed value, and owners who miss the due date by even a day will also face a $250 penalty. Mayor Kennedy Stewart says the tax is an important strategy in managing Vancouver’s unaffordable housing market. “Housing affordability is the most important issue

  • Telecom lobby group looks for relief from Internet rules

    November 7, 2018 7:53 PM 14

    A consortium representing 35 smaller telecom service providers is asking the federal regulator to adjust rules aimed at encouraging competition in the market for broadband Internet access that it says have inadvertently had the opposite effect. The Canadian Network Operators Consortium (CNOC) filed an application with the Canadian Radio-television and Telecommunications

  • Parmalat to acquire Kraft’s natural cheese division for $1.62B

    November 7, 2018 4:31 PM 13

    TORONTO — Parmalat Group says it has reached an agreement valued at $1.62 billion to acquire Kraft Heinz Canada’s natural cheese division. The deal would see Parmalat Canada take stewardship of the cheese brands Cracker Barrel, P’tit Quebec and Amooza. It would also include the purchase of Kraft’s Ingleside, Ont., processing plant, which employs nearly

  • Spin Master reports earnings of $107 million (U.S.) in Q3, lowers growth expectations

    November 6, 2018 11:44 PM 10

    TORONTO—Spin Master Corp. said it had a net income of $107.9 million (U.S.) in the third quarter for a slight drop from the same quarter last year. The company behind toy brands such as Paw Patrol, Air Hogs and Hatchimals said net income per share came to $1.06, compared with $108.8 million or $1.07 per share in the quarter ending Sept. 30 last year. Spin Master

  • Google Canada manager shares same ‘frustration’ as workers who walked out

    November 6, 2018 8:26 PM 11

    Speaking at a lunch hosted by the Canadian Club in Toronto, Geremia says Google has taken a much harder line on inappropriate behaviour, especially in the past two years, and that no one is more keen to solve issues around misconduct than its chief executive officer Sundar Pichai. Pichai has promised to collect feedback from workers after they walked

  • Home decor chains Bowring and Bombay declare insolvency

    November 6, 2018 7:52 PM 14

    According to documents, Bowring Canada and Bombay & Co., Inc., along with parent company Fluid Brands Inc., have obtained protection from creditors under the Bankruptcy and Insolvency Act. In documents dated Oct. 25, and Nov. 1, the amount claimed by creditors is just over $50 million, with $24 million claimed by the CIBC. In Canada, there are 43 Bombay

  • Higher oil prices take some heat off N.L.’s deficit

    November 6, 2018 6:01 PM 12

    ST. JOHN’S, N.L. — Newfoundland and Labrador had an unexpected oil price spike to thank for some slight deficit relief reported in Tuesday’s fiscal update. The cash-strapped Atlantic province reported a $547-million deficit on Tuesday, compared to the $683-million deficit projected in this spring’s budget. Finance Minister Tom Osborne pointed to the overbudget

  • Thomson Reuters reports Q3 profit down from year ago, revenue edges higher

    November 6, 2018 1:17 PM 9

    Thomson Reuters Corp. reported its third-quarter profit fell compared with a year ago, as its revenue edged higher. The news and information company, which keeps its books in U.S. dollars, earned a profit attributable to shareholders of $261 million (U.S.) or 37 cents per share for the quarter ended Sept. 30. The result compared with a profit attributable

  • Fertilizer company Nutrien permanently closes New Brunswick potash facility, takes $1.8B (U.S.) writedown

    November 5, 2018 11:56 PM 10

    It said the decision to close the facility reflects the company’s ability to increase potash production at a significantly lower cost than resuming operations in New Brunswick. Nutrien, then known as the Potash Corp. of Saskatchewan before a merger, shut down its Piccadilly mine near Sussex, N.B., at a loss of about 430 jobs close to three years ago to focus