Rising interest rates could negatively impact Ontario’s economy:Report

Rising interest rates could negatively impact Ontario’s economy:Report
TORONTO — Rising interest rates could have a “significant” impact on Ontario’s economy as the already ballooning household debt is projected to continue to grow, warns the province’s fiscal watchdog. The Financial Accountability Office said in a report released Tuesday that an average Ontario household owed nearly $154,000 in 2016, up from $119,000 in 2010. Its analysis shows that paying down that debt cost an average Ontario family about $12,500 in 2016. As interest... Read More

QuickQuotes from business on Canada agreeing to revised TPP trade deal

QuickQuotes from business on Canada agreeing to revised TPP trade deal
Canadian business sectors had mixed reactions to news that Canada and the remaining members of the Trans-Pacific Partnership had agreed to a revised trade agreement. Here’s what a few are saying. ___ “It’s a pretty sombre day for the 220,000 Canadians that depend on dairy for their livelihood…The domestic dairy sector has already been carved out once with CETA, now with... Read More

Wynne wants Ontario interests, such as the auto sector, defended in revived TPP

Wynne wants Ontario interests, such as the auto sector, defended in revived TPP
TORONTO — Ontario’s premier says the revised Trans-Pacific Partnership must not come at the expense of key Ontario sectors, including the auto industry. Kathleen Wynne says while freer trade and diversification is a good thing, she has heard concerns from many in the automotive sector over the course of TPP negotiations. Wynne says she will continue to stand up for those Ontario jobs and for all of... Read More

10 Safeway stores to be shuttered in B.C., impacting 1,000 employees

10 Safeway stores to be shuttered in B.C., impacting 1,000 employees
NEW WESTMINSTER, B.C. — A union representing Safeway employees in British Columbia says 10 stores in the province will be permanently closed, affecting about 1,000 employees, as labour negotiations are set to begin. United Food and Commercial Workers Union Local 1518 says Sobeys Inc. informed members of the decision this morning on the eve of bargaining between its union and Sobeys for... Read More

CN Rail raises dividend after earning $5.5 billion last year on lower U.S. taxes

CN Rail raises dividend after earning $5.5 billion last year on lower U.S. taxes
MONTREAL — CN Rail is raising its quarterly dividend 10 per cent after its 2017 profits surged 51 per cent to nearly $5.5 billion helped by lower U.S. taxes. The country’s largest railway says it will pay 45.5 cents per common share on March 29, to shareholders of record on March 8. During the fourth quarter, the Montreal-based railway earned $2.61... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,357.55, up 9.57 points) Aurora Cannabis Inc. (TSX:ACB). Healthcare. Up 29 cents, or 2.00 per cent, to $14.79 on 25.2 million shares. Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Unchanged at $3.15 on 10.5 million shares. Trican Well Service Ltd. (TSX:TCW). Oil and gas. Up 16 cents, or 3.89 per cent,... Read More

Canada, TPP members agree to revised deal without the United States

Canada, TPP members agree to revised deal without the United States
OTTAWA — Canada and the remaining members of the old Trans-Pacific Partnership agreed Tuesday to a revised trade agreement that will forge ahead without the United States, opening distant new markets at a time of uncertainty closer to home. The deal comes exactly one year after U.S. President Donald Trump withdrew his country from the agreement, leaving Japan as the... Read More

Bell Canada alerts customers who may be affected by data breach

Bell Canada alerts customers who may be affected by data breach
TORONTO — Bell Canada is alerting some customers that their information has been illegally accessed in a potential data breach. The company’s notice doesn’t say how many Bell customers were affected but media reports say the total could be 100,000. Bell says the information consisted primarily of names and email addresses and that there’s no indication that any credit card, banking or... Read More

Twitter Operating Chief Anthony Noto resigns

Twitter Operating Chief Anthony Noto resigns
Twitter’s chief operating officer is leaving the social media giant to lead another company. Anthony Noto joined Twitter in July 2014 after a stint at Goldman Sachs. He has also served as chief financial officer at Twitter. Noto is considered a key part of the company’s leadership team. Shares of Twitter Inc. slid almost 3 per cent at the opening bell Tuesday.... Read More

Household debt growing in Ontario, creating risk for broader economy: FAO

Household debt growing in Ontario, creating risk for broader economy: FAO
TORONTO — Ontario’s fiscal watchdog says household debt in the province has increased since 2010, and is projected to continue to grow, which could spell trouble for the economy as interest rates also climb. Ontario’s Financial Accountability Office says low interest rates have fuelled spending in the province and the household debt has grown by 5.6 per cent on average each year between 2010... Read More