Some facts about the Canada Infrastructure Bank

Some facts about the Canada Infrastructure Bank
OTTAWA — Facts and figures on the Canada Infrastructure Bank: What is it: An arms-length Crown corporation that will use federal dollars to leverage private investments to build revenue-generating infrastructure projects in the national interest. What will it build: Projects will fall into three categories: urban transit, transport and commerce and green infrastructure. They have to be revenue-generating projects, so it... Read More

Bell Media cancels two shows, lays off workers, citing financial pressure

Bell Media cancels two shows, lays off workers, citing financial pressure
TORONTO — Bell Media says it eliminated a number of jobs in Toronto after deciding not to renew two programs. Spokesman Scott Henderson says in an email the company cancelled Daily Planet and Innerspace. A company memo obtained by the Canadian Press says 17 positions, including taped segment producers and a director, were “declared surplus.” The memo says the company will meet with the... Read More

TD, RBC second-quarter profit bump helped by rising rates, macro environment

TD, RBC second-quarter profit bump helped by rising rates, macro environment
TORONTO — Two of Canada’s biggest banks reported second-quarter earnings Thursday that benefited from bigger profit margins on the back of rising interest rates, though the bump could be less pronounced in coming quarters as pressure mounts for banks to raise the interest rates they pay on deposits. Toronto-Dominion Bank and Royal Bank of Canada handily beat analysts expectations with double-digit growth in the quarter ended Apr. 30, helped by a strong economy... Read More

Canada blocks Aecon takeover by Chinese state-owned firm over national security

Canada blocks Aecon takeover by Chinese state-owned firm over national security
OTTAWA — The federal government has blocked the proposed $1.5-billion takeover of Aecon Group Inc. by a Chinese state-owned company for reasons of national security. After markets closed Wednesday, Economic Development Minister Navdeep Bains confirmed the government’s decision to prevent CCCC International Holding Ltd. (CCCI) from acquiring the Aecon construction firm. The move could have an impact on Canada-China relations,... Read More

Car2Go to end Toronto operations in May over city parking regulations

Car2Go to end Toronto operations in May over city parking regulations
TORONTO — Car2Go is suspending its Toronto operations at the end of the month because of forthcoming parking regulations. The car-sharing company’s president Paul DeLong says it will be impossible to operate in Toronto come June, when a city-run pilot program will forbid the use of almost 10,000 parking spaces where users usually pick up or leave Car2Go vehicles. He is also complaining that Toronto’s city council recently passed parking permit fees, requiring... Read More