BC to have only one store selling cannabis on first day of legalization

BC to have only one store selling cannabis on first day of legalization
VANCOUVER — On the morning of Oct. 17, British Columbians shouldn’t expect to wake up and see marijuana stores opening their doors. At least that’s the message from the province’s minister of public safety and solicitor general, Mike Farnworth. In a news release issued Sunday, Farnworth said the government’s first  and only BC Cannabis Store will open in Kamloops and more... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: The House is back The House of Commons resumes sitting on Monday. The Trudeau government is expected to face pointed questions from the opposition on a number of fronts including its purchase of the Trans Mountain pipeline and the ongoing trade talks with the... Read More

N.B. Liberal leader promises to impose pay equity on private businesses

N.B. Liberal leader promises to impose pay equity on private businesses
MONCTON, N.B. — New Brunswick Premier Brian Gallant says he would impose pay equity on the province’s large businesses if his party is re-elected. He says new pay equity measures would apply to government and other public sector groups by 2020, and to private firms with more than 50 employees by 2022. The 2020 deadline would apply to quasi-public organizations, like universities and... Read More

CIBC chief calls for clearer foreign investment rules, more competitive tax scheme

CIBC chief calls for clearer foreign investment rules, more competitive tax scheme
TORONTO — The CEO of the Canadian Imperial Bank of Commerce says Canada must boost its global competitiveness and prepare for a future downturn by offering clearer foreign investment rules, matching a U.S. policy which allows companies to immediately write off the full cost of capital investments and attracting more immigrants. Victor Dodig says a lack of clarity on foreign... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Bread and butter Empire Company Ltd. releases first-quarter results and holds its annual meeting on Thursday. Empire CEO Michael Medline said in June that tariffs on some U.S. food products that went into effect July 1 could mean higher prices for Canadian shoppers. Roots... Read More

Canadian decision within weeks on steel safeguards, says Bains

Canadian decision within weeks on steel safeguards, says Bains
HAMILTON — The federal government plans to make a decision on safeguards against steel dumping in the coming weeks, Economic Development Minister Navdeep Bains said Friday. Speaking at a summit on the steel industry in Hamilton, Ont., Bains said the government is looking at the data and feedback it received from recent consultations on how to protect the industry from the risk of cheap steel imports. “The Department of Finance, my... Read More

Canada’s ever-volatile labour report posts ‘messy’ results for August

Canada’s ever-volatile labour report posts ‘messy’ results for August
OTTAWA — Canada’s seesawing employment report posted particularly volatile numbers last month that showed big, mid-summer gains had essentially been wiped out by August. The economy lost 51,600 net jobs last month in a decrease that helped drive the national unemployment rate to six per cent, up from 5.8 per cent in July, Statistics Canada reported Friday in its monthly labour force survey. Last month’s drop, fuelled by the loss of 92,000 part-time positions, largely eliminated July’s healthy net... Read More

Local governments should get 40 per cent of B.C.’s pot revenue: advocacy group

Local governments should get 40 per cent of B.C.’s pot revenue: advocacy group
VANCOUVER — The advocacy group for local governments in British Columbia wants the provincial government to fork over a 40 per cent share of its marijuana tax revenue when the drug becomes legal. The Union of B.C. Municipalities has tabled a resolution asking the provincial government to provide local governments with $50 million of the projected provincial cannabis excise tax revenue of... Read More

Suncor won’t approve more oil production expansions until pipeline progress: CEO

Suncor won’t approve more oil production expansions until pipeline progress: CEO
NEW YORK — The head of Suncor Energy Inc. says Canada’s largest oil and gas producer won’t move ahead with additional crude production expansions until there’s physical progress on getting pipelines approved. Chief executive Steve Williams told a Barclays investor conference in New York that recent judicial rulings affecting Keystone XL and Trans Mountain pipeline don’t have any short-term impacts on... Read More

Labour shortage is the ‘new norm’ that will last a decade: BDC economist says

Labour shortage is the ‘new norm’ that will last a decade: BDC economist says
TORONTO — Canada’s small and mid-sized companies must find ways to adapt to a “new norm” of worker shortages that will likely persist for a decade, says Pierre Cleroux, chief economist for the Business Development Bank of Canada. “They represent about 50 per cent of the Canadian economy. So they are very important. Also, they are very important in smaller communities,” Cleroux said... Read More