Canadian business sentiment drops from high levels: central bank survey

Canadian business sentiment drops from high levels: central bank survey
OTTAWA — A new Bank of Canada survey says business sentiment has fallen from elevated levels, with companies underlining uncertainty around global trade, the housing sector and the energy industry. The central bank’s measure for business sentiment dropped from its near-record heights last year into negative territory for the first time since the third quarter of 2016. The more-upbeat reading in the previous report was based on a November poll taken... Read More

Walmart buys ad tech startup

Walmart buys ad tech startup
NEW YORK — Walmart says it’s buying San Francisco-based ad tech startup Polymorph Labs as it looks to better compete with rival online juggernaut Amazon in targeting shoppers online. The world’s largest retailer has been quietly building its own advertising business with a unit called Walmart Media Group, though that business is still smaller than Amazon’s. Amazon’s total ad revenue... Read More

Toronto’s second legal pot store opens in ritzy Yorkville neighbourhood

Toronto’s second legal pot store opens in ritzy Yorkville neighbourhood
TORONTO — Some of Toronto’s wealthiest residents now have easy access to cannabis with Sunday’s opening of the city’s second legal retail store. A couple dozen eager buyers stood in line in Yorkville to make the first purchases at Ameri, a small store in the shadows of high-rise condominium towers. “There’s always the anxious people but I can assure everybody we’re... 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: Housing starts CMHC releases its latest read on the Canadian housing market on Monday when it publishes its preliminary data on housing starts for March. The annual pace of housing starts cooled in February as higher mortgage rates and less stimulative economic conditions helped... Read More

B.C. government to consider ‘relief’ for record gas prices: Horgan

B.C. government to consider ‘relief’ for record gas prices: Horgan
VICTORIA — Premier John Horgan says the B.C. government will consider “some relief” for those who can’t afford record high gas prices. Horgan says his government will monitor prices at the pumps over the summer after they reached the benchmark record of almost $1.64 a litre today in Metro Vancouver, but he also suggested provincial taxes aren’t the only factor affecting prices. He says... Read More

Supreme Court: consumer protection law doesn’t permit businesses to sue Telus

Supreme Court: consumer protection law doesn’t permit businesses to sue Telus
OTTAWA — Telus has scored a victory at the Supreme Court of Canada, which says its business customers are contractually prevented from joining class action suits filed on behalf of individual consumers. A majority of judges in the 4-3 decision ruled an Ontario judge erred in allowing Avraham Wellman to be included in a class action case against Telus even though he was a business customer... Read More

Hudson’s Bay Co. reports Q4 revenue slips lower, comparable store sales fall

Hudson’s Bay Co. reports Q4 revenue slips lower, comparable store sales fall
TORONTO — Hudson’s Bay Co. reported its fourth-quarter revenue slipped to $2.89 billion, down from $3.05 billion a year earlier when the quarter included an extra week. Excluding the extra week, revenue in the quarter ended Feb. 2 was down $47 million or 1.6 per cent compared with a year ago. Overall comparable store sales for the quarter were down... Read More

Retailer Roots reports fourth-quarter profit down from year ago, sales up

Retailer Roots reports fourth-quarter profit down from year ago, sales up
TORONTO — Roots Corp. reported a fourth-quarter profit of $18.3 million, down from $20.9 million a year earlier, as its revenue edged higher. The retailer says the profit for the quarter ended Feb. 2 amounted to 43 cents per share, down from 50 cents per share in the same quarter a year earlier. On an adjusted basis, Roots says it... Read More

UK Parliament rejects alternatives to May’s Brexit deal

UK Parliament rejects alternatives to May’s Brexit deal
LONDON — Britain’s Parliament has spoken — and it has said no, again. Lawmakers seeking a way out of the country’s Brexit morass on Monday rejected four alternatives to the government’s unpopular European Union divorce deal that would have softened or even halted Britain’s departure. With just 12 days until the U.K. must come up with a new plan or... Read More