Statistics Canada reports pace of inflation ticked higher in February

Statistics Canada reports pace of inflation ticked higher in February
OTTAWA — The annual pace of inflation edged higher in February as gains in most spending categories offset lower gasoline prices, Statistics Canada said Friday. The agency reported the consumer price index in February climbed 1.5 per cent compared with a year ago. The move compared with a year-over-over increase of 1.4 per cent in January. Economists had expected a reading of... Read More

Chinese importers have stopped buying Canadian canola seed: Industry group

Chinese importers have stopped buying Canadian canola seed: Industry group
Canola seed exporters report Chinese companies — one of their major markets — have stopped buying their product, according to an industry group. The ongoing trade dispute that started earlier this month when China revoked the permit of a major Canadian exporter is also causing woes for canola farmers, grappling with lower prices and delayed shipments. Canola seed exporters have told the... Read More

Export slump deepens for American whiskey producers

Export slump deepens for American whiskey producers
LOUISVILLE, Ky. — American whiskey producers are suffering a worsening hangover from the Trump administration’s trade disputes. Overall exports of bourbon, Tennessee whiskey and rye whiskey fell 11 per cent during the second half of 2018 compared to the prior-year period, as the impact of tariffs started to be felt, the Distilled Spirits Council said in a report Thursday. The... Read More

Anchor store expected to help largely vacant mall attract merchants, shoppers

Anchor store expected to help largely vacant mall attract merchants, shoppers
CALGARY — Ten months after tenants started moving into the still mostly empty New Horizon Mall just north of Calgary, its first anchor tenant is being announced this week. That means the grand opening originally scheduled for October could take place — at last — this spring, says Eli Swirsky, president of The Torgan Group, which developed the Asian bazaar-style centre in conjunction with its partner, MPI Property Group.... Read More

US wholesale prices ticked up 0.1 per cent in February

US wholesale prices ticked up 0.1 per cent in February
WASHINGTON — U.S. wholesale prices barely increased last month after falling for three straight months, a sign there is little inflation pressure in the economy. The producer price index — which measures price changes before they reach the consumer — rose 0.1 per cent in February, the Labor Department said Wednesday. It slipped 0.1 per cent in January. Excluding volatile... Read More

Sobeys parent reports higher Q3 net income, but lower adjusted earnings

Sobeys parent reports higher Q3 net income, but lower adjusted earnings
STELLARTON, N.S. — The company behind Sobeys and Safeway grocery stores reports its third-quarter sales and net income were higher than the same time last year, but adjusted earnings were down. Empire Company Ltd. of Stellarton, N.S., says its net income was $65.8 million or 24 cents per share in the 13 weeks ended Feb. 2. That’s up from $58.1... Read More

Growing trend of solo living creating opportunities for businesses

Growing trend of solo living creating opportunities for businesses
TORONTO — One of the fastest-growing demographics in Canada and around the world has long been ignored by mainstream businesses and politicians, but that may be about to change. “Society is geared towards families,” says Jean-Pierre Bissonnette, a 52-year-old single medical physicist at the Princess Margaret Hospital who counts himself as part of a growing cohort of people who choose to live... Read More

Recipe Unlimited Corp. raises dividend by 5%, reports profit down

Recipe Unlimited Corp. raises dividend by 5%, reports profit down
VAUGHAN, Ont. — Recipe Unlimited Corp. raised its dividend five per cent as its profit fell in its most recent quarter, hurt by restructuring and other costs. The company formerly known as Cara Operations says its profit for the 13 weeks ending Dec. 30, 2018, totalled$9 million or 14 cents per diluted share, down from $27.3 or 45 cents per diluted share... Read More

China revokes Richardson Int. canola shipping permit as Huawei dispute escalates

China revokes Richardson Int. canola shipping permit as Huawei dispute escalates
WINNIPEG — One of Canada’s largest canola exporters has confirmed that China has revoked the company’s permit to export product to the country as a diplomatic feud between Canada and China escalates. The loss of the export permit for Richardson International Ltd. comes as Ottawa moves to proceed with the extradition hearing of Huawei Technologies Co. Ltd. executive Meng Wanzhou. The Canola Council of Canada says news... Read More

Maple Leaf experienced challenging 2018, but sees success in plant-based future

Maple Leaf experienced challenging 2018, but sees success in plant-based future
Maple Leaf Foods Inc. called 2018 a challenging year with essentially flat sales, but one that sets it up for a successful future as it touted itself as a leader in plant-protein products. Global trading relationships created unprecedented volatility that reverberated across the pork industry, said Michael McCain during a conference call with analysts Thursday after the company released its... Read More