Hydro-Quebec considers special rates for Bitcoin miners as demand surges

Hydro-Quebec considers special rates for Bitcoin miners as demand surges
MONTREAL — Hydro-Quebec may consider raising its rates for energy-hogging cryptocurrency miners who are rushing to establish themselves in the province. Spokesman Marc-Antoine Pouliot says more than 100 cryptocurrency companies have expressed interest in coming to Quebec as they look for cheap sources of energy to power the computers that solve the equations that support the currency. He says the sheer volume of demand is forcing the... Read More

Former Canada Post CEO Moya Greene replaces Paul Tellier on Rio Tinto board

Former Canada Post CEO Moya Greene replaces Paul Tellier on Rio Tinto board
LONDON — Global miner Rio Tinto Ltd., which owns large aluminum smelters in Canada, has appointed former Canada Post chief executive Moya Greene to its board. Greene, who currently heads Britain’s Royal Mail Group, will replace veteran Canadian business leader Paul Tellier. The former head of CN Rail and Bombardier Inc. plans to step down in May after 11 years.... Read More

Home sales fall across Canada to reach their lowest level in 3 years: CREA

Home sales fall across Canada to reach their lowest level in 3 years: CREA
Canadian home sales fell 14.5 per cent between December and January, marking the lowest sales level in three years as the housing market was hit last month by a double whammy of tighter mortgage rules and lending rate hikes. Data released by the Canadian Real Estate Association Thursday suggested that January activity was down in three-quarters of all local markets and virtually all major urban... Read More

Shopify tops expectations, reports Q4 revenue up 71 per cent from year ago

Shopify tops expectations, reports Q4 revenue up 71 per cent from year ago
OTTAWA — Shopify Inc. reported a better-than-expected fourth quarter as its revenue jumped 71 per cent compared with a year ago. The Ottawa-based online store platform company, which keeps its books in U.S. dollars, said it lost $3 million or three cents per share in the last three months of 2017. That compared with a loss of $8.9 million or 10 cents per... Read More

Weston family’s Choice Properties buying Canadian REIT for $3.9 billion

Weston family’s Choice Properties buying Canadian REIT for $3.9 billion
TORONTO — The Weston family is poised to create Canada’s largest real estate investment trust through a $3.9-billion deal for its publicly traded Choice Properties REIT to buy Canadian Real Estate Investment Trust. The combination of Choice Properties, which counts Loblaw as its principal tenant and largest unitholder, and CREIT will create a company with a diversified portfolio of 752... Read More

3,300 Shaw employees accept voluntary buyouts, one-quarter of workforce

3,300 Shaw employees accept voluntary buyouts, one-quarter of workforce
TORONTO — Shaw Communications says 3,300 of its employees have decided to take a voluntary buyout package — far above the company’s original estimate of about 650. The Calgary-based company says about one-quarter of its workforce will be departing over an 18-month period as part of a previously announced multi-year transformation of its business. Among the departures will be chief... Read More