Financing
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Loblaw cutting 500 office workers as it grapples with ‘variety of pressures’
A Loblaw spokesperson said the cuts don’t relate to any particular trend, but analysts believe the layoffs came in preparation for Ontario’s rising minimum wage
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Mold maker Weber Manufacturing investing $7.9M to expand Midland, Ont. plant
The project will boost the plant’s capacity by about 30 per cent and create 17 new jobs
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Bombardier exploring sale of Q400, CRJ units amid CSeries trouble: report
The company is looking into selling its Toronto- and Montreal-based turboprop and regional jet programs as Boeing puts the screws to its new CSeries jets in a subsidy dispute, Bloomberg reports
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BoC says business optimism is moderating
The Bank of Canada says several indicators in its most recent survey have been tempered from strong summer survey results, including businesses’ plans to increase spending over the next 12 months
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Ottawa to reduce small business tax rate to 9 per cent
The addition of a tax cut to the federal Liberal government’s small business tax reform plan appears to be the political equivalent of a spoonful of sugar to quell an angry backlash to proposed tax reform
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Toronto’s Pearson Airport’s ground crew ends strike against employer Swissport
The 700 ramp equipment operators, baggage handlers, cabin cleaners and other ground crew workers went on strike July 27 to protest pay and benefits cuts and scheduling issues
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CAMI workers to vote on tentative agreement
The contract proposal was hammered out last week and Unifor, which represents the 2,800 workers affected, is recommending the deal be accepted
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Sodecia opens new $30M London, Ont. stamping plant, will add 44 jobs
The 200,000 sq. ft. facility will boost the company’s capacity for lightweight parts and help it add new products
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SDTC invest $5.4M in Halifax firm working on breakthrough ultra-thin solar cells
Metamaterial Technologies is developing solar cells 70 per cent thinner than those on the market today; they could be integrated into planes and cars to slash transportation emissions
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Head of Samsung’s sizzling electronics unit announces surprise resignation
Kwon Oh-hyun, chairman of the board for Samsung Electronics Co. thinks Samsung urgently needs to find new ways to fuel growth before the record-breaking performance resulting from earlier decisions fades