Cineplex sues former buyer Cineworld, seeking damages over failed deal

Cineplex sues former buyer Cineworld, seeking damages over failed deal
TORONTO — Cineplex Inc. has filed a lawsuit against its former suitor Cineworld Group PLC, seeking damages over the U.K. company’s failed acquisition that could exceed the $2.18 billion outstanding on the deal. The Canadian movie theatre operator filed the suit in Ontario Superior Court on Friday, detailing what it claims was “a case of buyer’s remorse” on the part of the U.K. company in... Read More

Greater Vancouver home sales start to tick up, with prices holding steady

Greater Vancouver home sales start to tick up, with prices holding steady
VANCOUVER — The Real Estate Board of Greater Vancouver says home sales are starting to return to more typical levels, while prices continue to edge up from 2019. The board reports 2,443 residential sales last month, a 17.6 per cent year-over-year increase — but still 21.9 per cent below the 10-year sales average for June. Board chair Colette Gerber says realtors... Read More

Advocates say new bill gives an unfair advantage to landlords over tenants

Advocates say new bill gives an unfair advantage to landlords over tenants
TORONTO — Ontario tenants’ rights advocates are voicing concerns over a new bill they say will make it easier for landlords to obtain evictions once the COVID-19 crisis eases. Several advocacy groups say Bill 184, also known as the Protecting Tenants and Strengthening Community Housing Act, would provide a number of new avenues for landlords to both evict and collect unpaid rent from current and past... Read More

Fashion retailers confront consumer shifts amid ‘long slow ramp’ to new normal

Fashion retailers confront consumer shifts amid ‘long slow ramp’ to new normal
TORONTO — COVID-19 has slammed Canada’s fashion sector like a hurricane, causing serious damage and likely leaving a few casualties in its wake. The mass closing of malls and offices along with the cancellation of celebrations and big events has been devastating, says the head of Harry Rosen, one of the country’s leading men’s clothing retailers. “We’re surviving,” said company... Read More

S&P/TSX composite down in early trading, U.S. markets closed for holiday

S&P/TSX composite down in early trading, U.S. markets closed for holiday
TORONTO — Canada’s main stock index edged lower in early trading as the financial and materials sectors ticked down. The S&P/TSX composite index was down 23.44 points at 15,598.96. U.S. stock markets were closed in observance of Independence Day. The Canadian dollar traded for 73.69 cents US compared with 73.61 cents US on Thursday. The August crude contract was down 53... Read More

Organigram lays off 220 workers, will cultivate less cannabis than expected

Organigram lays off 220 workers, will cultivate less cannabis than expected
MONCTON, N.B. — Organigram Holdings Inc. is laying off at least 220 employees in an effort to better align its production capacity with prevailing market conditions. The Moncton-based cannabis company says the cuts will impact a quarter of its workforce. Organigram says it will move forward with a leaner and more flexible workforce. It now has a total workforce of 609 employees including 84 staff members... Read More