Staples Canada transforms business model with co-working spaces, cafes and more

Staples Canada transforms business model with co-working spaces, cafes and more
TORONTO — Regular customers of certain Staples Canada Inc. locations may not recognize their local stores the next time they visit. The company is transforming its business model at two locations in Kirkland, Que. and Toronto to include a range of features including co-working spaces, a technology discovery zone and a “stadium-style” area that can be used for community events. It’s also dabbling in opening journal, pen... Read More

Canadian firm says it has found largest diamond ever unearthed in North America

Canadian firm says it has found largest diamond ever unearthed in North America
YELLOWKNIFE — A Canadian mining firm says it has unearthed the largest diamond ever found in North America. Dominion Diamond Mines says the 552-carat yellow diamond was found at its Diavik mine in the Northwest Territories. It says the stone “far surpasses” the previous record-holder, known as the Diavik Foxfire, which was found at the same mine in 2015. Dominion,... Read More

Apple upstages Amazon in selecting new tech hub locations

Apple upstages Amazon in selecting new tech hub locations
AUSTIN, Texas — One tech giant strung dozens of North American cities through a circus-like contest that led mayors and governors to desperately pitch their regions — and offer huge sums of public money — in hopes of landing a gleaming new corporate campus. The other swept in quietly before making its big move. The outcome was largely the same:... Read More

Suncor warns forced provincial oil cutbacks pose safety, operational risks

Suncor warns forced provincial oil cutbacks pose safety, operational risks
CALGARY — Forced Alberta government crude oil production cuts next year will result in “unintended consequences” that could include increased safety hazards for its employees, Suncor Energy Inc. warned Friday. Despite the cuts that begin Jan. 1, Canada’s largest integrated oil and gas company forecasts production will grow by 10 per cent in 2019 on a stand-pat capital budget of between $4.9 billion and $5.6... Read More

Canada Goose delays Beijing store opening because of construction

Canada Goose delays Beijing store opening because of construction
TORONTO — Canada Goose Inc. says the opening of its Beijing store has been delayed. The Toronto-based luxury parka maker says in a statement to The Canadian Press that the delay is due to ongoing construction. The company has not said when the store will open, but is promising to update consumers as soon as plans progress. The announcement comes amid growing tensions between China... Read More

Councillors in Toronto, Ottawa vote to allow retail cannabis stores

Councillors in Toronto, Ottawa vote to allow retail cannabis stores
TORONTO — Councillors in Toronto have voted to allow retail pot shops in Canada’s most populous city. Councillors voted 20-4 Thursday evening to allow privately run cannabis stores to operate in Toronto. The decision came on the same day councillors in Ottawa voted to allow pot shops to open in the nation’s capital, and a day after councillors in Markham... Read More

Statistics Canada reports key debt ratio ticked higher in third quarter

Statistics Canada reports key debt ratio ticked higher in third quarter
OTTAWA — The amount Canadians owe relative to their income ticked higher in third quarter. Statistics Canada says household credit market debt as a proportion of disposable income was 177.5 per cent in the third quarter on a seasonally-adjusted basis. That compared with 177.4 per cent in the second quarter. In other words, Canadians owed nearly $1.78 in credit market debt, which... Read More

Suncor plans 10% production increase for 2019, holds capex spending steady

Suncor plans 10% production increase for 2019, holds capex spending steady
CALGARY — Suncor Energy Inc. is planning to grow production by about 10 per cent, even after Alberta’s mandatory production curtailments. The company says it expects average upstream production of 780,000 to 820,000 barrels of oil equivalent per day, up from about 730,000 boepd this year. Suncor says its guidance assumes the curtailments are in place for three months before... Read More

SNC-Lavalin cuts 100 jobs as politicians say it is vulnerable to takeover

SNC-Lavalin cuts 100 jobs as politicians say it is vulnerable to takeover
MONTREAL — SNC-Lavalin Inc. is eliminating about 100 positions in Canada at the same time as the Quebec engineering firm is being described by political leaders as being vulnerable to a foreign takeover. The Montreal-based firm says the workforce reduction is attributable to the completion of various projects across the country. “We are hiring employees based on the needs of... Read More

Delta’s 2019 forecast helps send airline stocks lower

Delta’s 2019 forecast helps send airline stocks lower
Delta Air Lines said Thursday that its profit will rise next year but not as much as Wall Street expected, and that helped push airline stocks lower. Forecasts of slower global economic growth are weighing on airlines because a slowdown would likely hurt demand for travel, which has been strong throughout 2018. Delta’s forecast also demonstrated how volatile fuel prices... Read More