Canada Jetlines sues WestJet co-founder Neeleman over damaging interference

Canada Jetlines sues WestJet co-founder Neeleman over damaging interference
VANCOUVER — Canada Jetlines Ltd. says it is suing WestJet Airlines co-founder David Neeleman in the United States for allegedly interfering in the fledgling discount carrier’s efforts to get off the ground. Executive chairman Mark Morabito says it launched legal proceedings in the U.S. district court in Connecticut against Neeleman, DGN Corp. and Breeze Aviation Group, for “tortious interference with business expectancy... Read More

Stocks in Toronto hit by broad-based decline, U.S. stock markets mixed

Stocks in Toronto hit by broad-based decline, U.S. stock markets mixed
TORONTO — The health-care and the industrials sector helped lead a broad-based decline on the Toronto Stock Exchange in late-morning trading as Canada’s main stock index traded lower. The S&P/TSX composite index was down 54.06 points at 16,945.13. In New York, the Dow Jones industrial average was up 31.85 points at 27,798.14. The S&P 500 index was down 1.16 points... Read More

MEG Energy stock rises on plan to lower spending, pay debt, maintain output

MEG Energy stock rises on plan to lower spending, pay debt, maintain output
CALGARY — Shares in oilsands producer MEG Energy Corp. rose by as much as 3.9 per cent Friday after it announced lower capital spending and a continued focus on debt retirement in 2020. Analysts applauded the Calgary-based company’s plan to spend $250 million next year — about $20 million less than some expected — with production that is still forecast... Read More

Two in five indebted Canadians don’t ever expect to escape debt, says survey

Two in five indebted Canadians don’t ever expect to escape debt, says survey
TORONTO — Two in five indebted Canadians don’t expect to escape debt in their lifetimes, says a new survey. The Manulife Bank of Canada debt survey released Friday also found that 94 per cent of respondents agree that the average household has too much debt while 67 per cent of those in debt assume everyone else is as well. The spending-to-income ratio is... Read More