Business News

As Canadians look to Ottawa to repair an economy ravaged by COVID-19, there’s a growing focus on our savings accounts as a source of potent fiscal stimulus just waiting to be “unleashed.” 

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The U.K. agreed with Canada to maintain the trading conditions it has through its European Union membership and to begin talks on a broader deal that would pave the way for even closer links with Britain’s 12th-biggest trading partner.

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Suncor Energy Inc. has been lagging behind its energy sector peers for months, but market watchers say the integrated oil-and-gas company is on the verge of a turnaround.

The company’s stock saw a 25-per-cent rally this week and Randy Ollenberger, managing director of oil and gas equity research at BMO Capital Markets, says there is more upside on the way.

Business sentiment in Canada improved over the summer but remains near historical lows as uncertainty around the path of the virus curbs demand and sales prospects, according to the Bank of Canada.

The results from the autumn Business Outlook Survey show businesses report conditions have improved as warmer weather and lower Covid-19 case counts encouraged consumers to go out and buy goods and services. However, businesses are still worried about future demand and sales prospects with some economic restrictions still in place.

Brookfield Asset Management will buy an Indian developer’s commercial properties for US$2 billion, the biggest real estate deal in the South Asian nation.

The Canadian asset manager is acquiring 12.5 million square feet of rent-yielding offices and co-working spaces from RMZ Corp., the privately held developer said in a statement on Monday. The Indian firm said it will have zero debt after the transaction and will use the money to expand its portfolio.

TORONTO -- Unifor has reached a tentative agreement for 9,000 workers at Fiat Chrysler Automobiles in Canada, a deal the union says could see the automaker invest $1.5 billion and add 2,000 jobs.

Unifor national president Jerry Dias said Thursday the 11th-hour deal was hammered out "moments before midnight" Wednesday, averting a strike at six plants across the country.

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Air Canada slashed the purchase price for tour operator Transat AT Inc. to almost a quarter of its earlier offer, citing the impact of the COVID-19 outbreak on the air transport industry.

The Montreal-based airline said it’s cutting the offer for Transat to $5 a share from $18 when the deal was announced in August 2019, valuing the company at about $190 million . Transat’s investors can choose between receiving a cash payment or 0.2862 Air Canada shares for each stock they hold, according to the statement Saturday. The previous offer was an all-cash deal.

They're dressed in an all-black uniform, faces distorted behind gas masks, using umbrellas as shields, and following a sophisticated set of hand motions which act as their form of communication. 

For more than three months, millions of civilians have been protesting the Hong Kong government.

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The Monday after last Thanksgiving, Mary Barra, chief executive officer of General Motors Co., announced the automaker’s biggest layoff since its 2009 bankruptcy. Five North American factories were marked for closure. Six thousand hourly jobs in the U.S. and Canada would soon be eliminated, and about 18,000 salaried employees would have until the end of the year to consider a buyout package. GM needed more than a third of the salaried personnel to accept. Fewer than 2,000 did. The remainder would have to be let go, which they were, starting in February.

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Prime Minister Justin Trudeau pledged a major personal income tax break if re-elected, as the Canadian leader tries to recover from revelations he wore blackface makeup on multiple occasions.

The governing Liberal Party would raise the basic personal income tax deduction -- the threshold under which no taxes are paid -- by slightly more than 20% over the next four years. That’s expected to cost an annual C$5.6 billion ($3.8 billion) by the time it’s fully implemented, and paid for by soon-to-be-announced “measures that make our tax system fairer for Canadians,” the Liberals said in a statement Sunday.

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