Business

Walmart-Visa Truce Could Mean Higher Fees: CFIB

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The head of the Canadian Federation of Independent Business says he is concerned that a deal struck between Walmart Canada and Visa over merchant fees could lead to higher costs for smaller businesses. Details of the agreement, which was announced Thursday and ended a months-long dispute between the two corporate behemoths, have not been provided by the companies. But Dan ...

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Canada on Track for Decades of Deficits, Federal Analysis Warns

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OTTAWA—Federal numbers released quietly by the government late last month are painting a bleak picture of Canada’s financial future — one filled with decades of deficits. The report, published on the Finance Department website two days before Christmas, predicts that barring any policy changes the federal government could be on track to run annual shortfalls until at least 2050-51. The ...

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Vancouver Real Estate Board Releases 2016 Home Sales Figures

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VANCOUVER—Home sales in Metro Vancouver dropped by 5.6 per cent in 2016, the city’s real estate board said Wednesday, wrapping up a tumultuous year in one of the country’s most watched housing markets. The composite benchmark price for all residential properties in Metro Vancouver, as measured by the Multiple Listing Service home price index, hit $897,600 in December. That’s a ...

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Canadian Dollar Surges as Stock Markets Gain for Second Straight Day

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The Canadian dollar surged today against a lower greenback, while rising commodities helped push the Toronto stock market higher. The loonie was up 0.70 of a U.S. cent to 75.14 cents U.S. as other currencies also rose against the U.S. dollar. In Toronto, the S&P/TSX composite index advanced for a second day in a row, climbing 113.72 points to 15,516.75. ...

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New Leaf Cancels Flights, Saying Competitor Copied Plan

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WINNIPEG—Discount air carrier NewLeaf Travel says it is cancelling plans to offer flights between Alberta and the Phoenix-Mesa airport in Arizona this year because another airline copied the idea. Jim Young, president and CEO of the Winnipeg-based company, made the announcement Tuesday on the company’s Facebook page. He said within hours of NewLeaf announcing the Arizona route, another airline “lowered ...

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Encana Expects 2017 Profit to be 25% Above Projections

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CALGARY—Encana Corp. says it’s even more optimistic about its prospects in 2017 than it was a few months ago. The Calgary-based oil and gas company now expects its corporate profit margin to be above $10 (U.S.) per barrel of oil equivalent. That’s 25 per cent higher than the $8 per barrel margin anticipated at Encana’s investor day in October. Encana ...

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TCT Teases New BlackBerry Smartphone with Physical Keyboard

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TORONTO—TCL Communication Technology Holdings Ltd. (TCT) has previewed a new BlackBerry-branded smartphone with a physical keyboard ahead of the Consumer Electronics Show in Las Vegas. TCT released a 22-second video showing the phone with a touchscreen, physical keyboard and a BlackBerry logo on the back. BlackBerry inked a deal with TCT last month that allows the company to design, manufacture ...

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McDonald’s Canada Still Fighting to Change Junk Food Reputation

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TORONTO—The head of McDonald’s Canada wants you to know one thing as the Golden Arches prepares to mark their golden anniversary. “I will tell you straight out that the reputation we have for food is absolutely unfair, unrealistic and a total . . . fill in the blank,” president and CEO John Betts says, slamming his hand on a table ...

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Coca-Cola Remains Top Drink Maker in Japan, But not Because of Coke

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EBINA, JAPAN—Coca-Cola has been the No. 1 beverage maker in Japan for half a century, but it’s not thanks to the popularity of Coke. Instead, the American soft-drink brand has adapted to the quirky ways this society quenches its thirst. Coca-Cola’s nearly 1 million vending machines account for about half of all the vending machines in Japan. Many of them ...

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North American Markets Pull Back on Last Trading Day of 2016

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Major equity markets in Toronto and New York capped off a strong performing year Thursday with a whimper, much like how it began 2016, as most commodities softened. The S&P/TSX composite index, which had been flat at the start of the session, lost 134.53 points at 15,287.59 by day’s end — weighed down by a broad decline in nearly all ...

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