Experts say counterfeit hand sanitizer recall at Dollarama is a lesson for retailers

Experts say counterfeit hand sanitizer recall at Dollarama is a lesson for retailers
TORONTO — Dollarama Inc. is removing a counterfeit and recalled hand sanitizer from its shelves, which experts say should serve as a reminder of how important it is for retailers and consumers to do their due diligence when shopping. “Since coronavirus started, it’s just been a huge Wild West of personal protective equipment (PPE),” said Yue Gao, a pharmacist and... Read More

Cogeco and Cogeco Communications boards officially reject revised offer

Cogeco and Cogeco Communications boards officially reject revised offer
MONTREAL — The boards of directors at Cogeco Inc. and Cogeco Communications Inc. have unanimously rejected a revised unsolicited takeover offer from Altice USA Inc. and Rogers Communications Inc. The companies say the boards met Tuesday to consider the $11.1-billion proposal, which was up from a previous offer of $10.3 billion. At the meeting, Louis Audet, president of the family’s... Read More

Tennessee factory to become GM’s 3rd electric vehicle plant

Tennessee factory to become GM’s 3rd electric vehicle plant
DETROIT — General Motors plans to spend $2 billion to convert its Spring Hill, Tennessee, assembly plant into a third U.S. site to build future electric vehicles. The Detroit automaker also says it will spend another $153 million to upgrade five Michigan factories for future vehicles. The company will build the Cadillac Lyriq, a small electric SUV at the Spring... Read More

Kinross unveils decade-long gold production plan based on current portfolio of assets

Kinross unveils decade-long gold production plan based on current portfolio of assets
TORONTO — Kinross Gold Corp. says it intends to rely mainly on internally generated opportunities to continue to produce an average of 2.5 million gold equivalent ounces per year over the next decade. In a news release and conference call Tuesday, the Toronto-based miner didn’t directly acknowledge a media report last week suggesting it is looking at selling its operations... Read More

Sweden bans Huawei, ZTE from 5G, calls China biggest threat

Sweden bans Huawei, ZTE from 5G, calls China biggest threat
Sweden is banning Chinese tech companies Huawei and ZTE from building new high-speed wireless networks after a top security official called China one of the country’s biggest threats. The Swedish telecom regulator said Tuesday that four wireless carriers bidding for frequencies in an upcoming spectrum auction for the new 5G networks must not use equipment from Huawei or ZTE. Wireless... Read More

US home construction up 1.9% in September to 1.4 million

US home construction up 1.9% in September to 1.4 million
WASHINGTON — U.S. home construction rose a solid 1.9% in September after having fallen in the previous month, as home building continues as one of the bright spots of the economy. The increase last month pushed home construction to a seasonally adjusted annual rate of 1.42 million homes and apartments after a 6.7% drop in August, the Commerce Department reported... Read More

Magna CEO Don Walker to retire at end of 2020, Seetarama Kotagiri named as next CEO

Magna CEO Don Walker to retire at end of 2020, Seetarama Kotagiri named as next CEO
AURORA, Ont. — Magna International Inc. says Seetarama Kotagiri will become chief executive on Jan. 1, 2021, replacing Don Walker who will retire at the end of this year after a 33-year career at the auto parts company. Walker served as Magna’s chief executive between 1994 and 2001 before returning to the job in 2005. During his time at Magna,... Read More

Laurentian Bank names former Scotiabank executive Rania Llewellyn as next CEO

Laurentian Bank names former Scotiabank executive Rania Llewellyn as next CEO
MONTREAL — The Laurentian Bank of Canada named former Scotiabank executive Rania Llewellyn as its next president and chief executive, making her the first woman to lead a major Canadian bank. Llewellyn takes over the job on Oct. 30 She joins Laurentian after a 26-year career at Scotiabank, where she was most recently executive vice-president, global business payments. Llewellyn had... Read More

S&P/TSX composite down in late-morning trading as U.S. stock markets climb higher

S&P/TSX composite down in late-morning trading as U.S. stock markets climb higher
TORONTO — Canada’s main stock index edged lower in late-morning trading, weighed down by losses in the technology, utility and industrial sectors, while U.S. stock markets moved higher. The S&P/TSX composite index was down 7.37 points at 16,266.70. In New York, the Dow Jones industrial average was up 116.68 points at 28,312.10. The S&P 500 index was up 14.65 points... Read More