Creativity key for the future of HMV and Sunrise: music industry experts

Creativity key for the future of HMV and Sunrise: music industry experts
TORONTO — If Sunrise Records and Entertainment Limited wants the 100 HMV stores it just purchased across the UK to succeed, industry experts say it will need to get creative and quick. The music retail landscape has been plagued in recent years by the rise of streaming platforms and the dramatic decline of CDs and DVDs, making ventures like the one Sunrise is embarking on tough, said music... Read More

Indigo Q3 earnings ‘severely hurt’ by Canada Post strike, says retailer’s CEO

Indigo Q3 earnings ‘severely hurt’ by Canada Post strike, says retailer’s CEO
TORONTO — Indigo Books and Music Inc. says the Canada Post strike “severely hurt” its third-quarter earnings, contributing to a roughly 50 per cent drop in net earnings. The Toronto-based retailer says in the period ending Dec. 29 it earned $21.5 million, down from the $42.6 million it reported for the same period the year before. Indigo’s diluted earnings per share amounted to 79... Read More

Peladeau may be interested in restarting Teo Taxi if industry rules changed

Peladeau may be interested in restarting Teo Taxi if industry rules changed
MONTREAL — The head of media conglomerate Quebecor Inc. has confirmed his personal financial interest in restarting insolvent electric transportation firm Teo Taxi, provided that certain rules about the industry are changed. Pierre Karl Peladeau tweeted his interest Tuesday, saying that as one of the service’s original customers, he has always believed in electric mobility and its potential for Quebec. However, he later warned... 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 (15,702.69, up 100.37 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 21 cents, or 1.99 per cent, to $10.34 on 29.3 million shares. Aphria Inc. (TSX:APHA). Health care. Down 14 cents, or one per cent, to $14.07 on 16.4 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 37 cents,... Read More

Cryptocurrency exchange gets court orders amid hunt for elusive assets

Cryptocurrency exchange gets court orders amid hunt for elusive assets
HALIFAX — Canada’s largest cryptocurrency exchange was granted protection from its creditors Tuesday as it deals with the fallout from its founder’s death and the virtual company’s inability to gain access to $180 million in digital assets believed to be locked in his laptop. Gerald Cotten, CEO and sole director of the trading platform QuadrigaCX, was travelling in India on Dec. 9 when he died... Read More

Ottawa home sales jump 16 per cent, marks most January sales in decades

Ottawa home sales jump 16 per cent, marks most January sales in decades
OTTAWA — Home sales in Ottawa and the surrounding area surged nearly 16 per cent in January, as homebuyers showed they were undeterred by record cold temperatures and snowfalls. The Ottawa Real Estate Board says 829 residential properties were sold through its multiple listing service system last month, up from 708 sales in the same month a year earlier. Condo sales... Read More

Cape Breton coal mine cited for breaking reporting rules in ‘massive’ cave-in

Cape Breton coal mine cited for breaking reporting rules in ‘massive’ cave-in
HALIFAX — Officials at an undersea Cape Breton coal mine broke a provincial regulation by not reporting a massive roof cave-in until government inspectors showed up 15 days after the first rock crashed down, according to provincial documents citing the firm for contravening rules last fall. Documents obtained through freedom-of-information legislation outline the inspections, citations and fines imposed on the Donkin mine, prompting safety experts to... Read More

Banking regulator defends stress test, open to change when warranted

Banking regulator defends stress test, open to change when warranted
TORONTO — Canada’s financial regulator hit back at criticisms of its stress test for uninsured mortgages, which has made it harder for borrowers to qualify and weighed on national home sales. But a senior official at the Office of the Superintendent of Financial Institutions’ told a Toronto event that the regulator continues to monitor the environment and when changes are... Read More

WestJet Airlines reports $29.2M Q4 profit, down from $47.8M a year ago

WestJet Airlines reports $29.2M Q4 profit, down from $47.8M a year ago
CALGARY — WestJet Airlines Ltd. says it earned $29.2 million in its fourth quarter, down from $47.8 million in the same period a year earlier. The Calgary-based airline says the profit amounted to 26 cents per diluted share for the three months ended Dec. 31, compared with 41 cents per diluted share in the fourth quarter of 2017. Revenue in... Read More