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

Bombardier defends CEO’s absence from special meeting following 5,000 layoffs

Bombardier defends CEO’s absence from special meeting following 5,000 layoffs
MONTREAL — Bombardier Inc. was on the defensive Monday after chief executive Alain Bellemare steered clear of a special meeting, hastily arranged to deal with the imminent layoff of 2,500 of the company’s Quebec workers. The province’s economy minister called the early-morning sit-down in downtown Montreal between Bombardier representatives, union and aerospace leaders and the government, with a view to finding a path... Read More

Air Transat president resigns after five years at the helm of the airline

Air Transat president resigns after five years at the helm of the airline
MONTREAL — The president of Air Transat is leaving the airline after five years at the helm. Tour company Transat A.T. Inc. announced Friday that Jean-Francois Lemay will leave the subsidiary in a few months. Lemay, who has been with the company for seven years, is leaving to “take on new challenges,” chief operating officer Annick Guerard says in a release. A... 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

Tesla names new board chair in settlement with regulators

Tesla names new board chair in settlement with regulators
DETROIT — Tesla’s board has named one of its own as chairman to replace Elon Musk, complying with terms of a fraud settlement with U.S. securities regulators. The electric car and solar panel company’s board on Thursday named Australian telecommunications executive Robyn Denholm as chairman, effective immediately. Denholm will step down as chief financial officer and strategy head at Telstra,... Read More

Bombardier cutting about 5,000 jobs as part of restructuring plan

Bombardier cutting about 5,000 jobs as part of restructuring plan
MONTREAL — Bombardier Inc. announced Thursday it will cut about 5,000 jobs across the organization over the next 12 to 18 months as part of a new restructuring plan. The cuts are expected to lead to about US$250 million in annualized savings by 2021. The company also announced the sale of what it called a number of non-core assets. Bombardier... Read More

CP Rail says it moved record shipments of grain and biofuels in October

CP Rail says it moved record shipments of grain and biofuels in October
CALGARY — Canadian Pacific Railway says it delivered record shipments of grain and biofuels in October. The Calgary-based railway says it moved 2.64 million tonnes of Canadian grain and grain products in the month, breaking the previous high set in September 2017. CP Rail says it has shipped more than 7.5 million tonnes of grain and grain products through 14... 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: Poloz in the UK Bank of Canada governor Stephen Poloz will give a speech to the Canada-UK Chamber of Commerce in England on Monday. Soft wage growth numbers from Statistics Canada on Friday have some economists predicting a slower rise in interest rates. Housing... Read More

US regulators subpoenaed Tesla production data, company says

US regulators subpoenaed Tesla production data, company says
DETROIT — U.S. securities investigators have subpoenaed information from Tesla about production forecasts for the Model 3 electric car that were made last year, the company acknowledged in a regulatory filing Friday. The disclosure in Tesla’s quarterly financial report also says the Securities and Exchange Commission subpoena covered other public statements made about Model 3 production. The filing adds that... Read More

Taxi drivers’ lawsuit can proceed against Quebec over Uber’s arrival

Taxi drivers’ lawsuit can proceed against Quebec over Uber’s arrival
MONTREAL — Cab drivers have been given the green light to sue the Quebec government over its alleged inaction as Uber increasingly moves into their market. A lawyer for the taxi drivers says if they win their claim, it could cost the province $1 billion to compensate drivers for lost revenues and a drop in the value of their taxi permits. Quebec Superior Justice... Read More