Brookfield and the Caisse buy automotive battery business from Johnson Controls

Brookfield and the Caisse buy automotive battery business from Johnson Controls
MONTREAL — Brookfield Business Partners LP and the Caisse de depot et placement du Quebec, together with a group of institutional partners, have signed a deal to buy Johnson Controls’ power solutions business for US$13.2 billion. The business produces batteries for automakers and aftermarket distributors and retailers. The companies say it is well positioned to benefit from the growth in demand for... Read More

From Audible to Whole Foods: A look at Amazon’s empire

From Audible to Whole Foods: A look at Amazon’s empire
NEW YORK — Amazon is hard to escape. Whether you’ve bought shoes at Zappos, picked up milk at Whole Foods or listened to an audiobook on Audible, you’ve been caught up in Amazon’s growing web of businesses. And now, Amazon’s sprawling empire will stretch even further. The company is expected to announce Tuesday that it will open two more bases... Read More

Amazon to split second HQ between New York, Virginia

Amazon to split second HQ between New York, Virginia
RICHMOND, Va. — A person familiar with the plans say Amazon will split its second headquarters between Long Island City in New York and Crystal City in northern Virginia. The online retailer is expected to make an official announcement later Tuesday. The person was not authorized to speak publicly ahead of that announcement and spoke on condition of anonymity. The... Read More

HBC won’t say why Saks Off Fifth store at Montreal Eaton Centre is cancelled

HBC won’t say why Saks Off Fifth store at Montreal Eaton Centre is cancelled
TORONTO — Hudson’s Bay Company says it and mall developer Ivanhoe Cambridge have mutually agreed to no longer open a Saks Off Fifth location at the Montreal Eaton Centre. The Toronto-based department store chain owner tells The Canadian Press that plans for the location have been abandoned “due to a number of factors,” but refused to reveal what those factors are. A spokesperson for the... Read More

Amazon HQ favourites: Similar basics, different vibes

Amazon HQ favourites: Similar basics, different vibes
NEW YORK — The communities said to be favoured to become homes to a pair of big, new East Coast bases for Amazon are both riverfront stretches of major metropolitan areas with ample transportation and space for workers. But there are plenty of differences between New York’s Long Island City and Crystal City in northern Virginia. Set within eyeshot of... Read More

Aurora Cannabis ramping up production but recreational pot shortages to linger

Aurora Cannabis ramping up production but recreational pot shortages to linger
TORONTO — Aurora Cannabis saw “strong demand” for recreational pot during the initial few weeks of legalization in Canada and it expects consumer appetite to continue to outstrip supply for “some time.” The Edmonton-based pot producer was able to meet “just about all” of its supply obligations leading up to and after pot for adult use was legalized on Oct. 17, but it will take time to ramp... Read More

Recipe Unlimited reports $23.8M Q3 profit up from $21.2M year ago

Recipe Unlimited reports $23.8M Q3 profit up from $21.2M year ago
VAUGHAN, Ont. — Recipe Unlimited Corp. earned $23.8 million in its latest quarter, up from $21.2 million a year ago. The company formerly known as Cara Operations says the profit amounted to 37 cents per diluted share for the three-month period ended Sept. 30, up from 34 cents per share a year ago. System sales totalled $879.8 million, up from... Read More

Money Monitor: How much pricier are organic groceries? Some items nearly on par

Money Monitor: How much pricier are organic groceries? Some items nearly on par
MONTREAL — Vanessa Baratta is cut up about purchasing organic produce. “Price factors into it now that I’m a homeowner. Beforehand I didn’t really care,” said the 29-year-old urban planner, reaching hesitantly for a package of pesticide-free mixed greens. “I used to go with mostly organic, but it’s much more expensive.” Baratta tries to eat and drink with an environmental... Read More

MEC CEO David Labistour to step down in June after 11 years with the company

MEC CEO David Labistour to step down in June after 11 years with the company
VANCOUVER — Mountain Equipment Co-op’s chief executive office David Labistour will be stepping down from his role in June. The outdoor gear brand also known as MEC has not given a reason for Labistour’s forthcoming departure or announced who will replace him, but says he has spent 11 years at the company. Labistour became CEO in January 2008, but first joined the company... Read More