Financing
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Metro to cut 280 jobs in modernization of Ontario distribution network
The Canadian grocer is investing $400 million to overhaul its Ontario logistics. It plans to bring in new automated systems in the wake of the province’s planned $15 minimum wage hike
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Marijuana grower Canopy plans big B.C. expansion in lead up to legalization
The company says it will develop three million sq. ft. of greenhouse space, more than doubling Canada’s biggest marijuana producer’s production footprint
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Sears Canada seeks court approval to liquidate all stores, 12,000 to lose jobs
“Frankly, it was all a little, too little, too late,” one analyst said of the iconic retailer’s efforts to reinvent itself. After failing to find a buyer, the company is seeking approval to close all of its 130 remaining stores
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Federal ‘supercluster’ program narrowed down to nine candidates
Justin Trudeau puts a lot of stock in Canada’s ability to innovate, something his supercluster research program will depend on. Five of these initiatives will be selected to receive a portion of the initial $950 millions investment. Here is a look at shortlist
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The art of not getting a deal; it’s becoming clear that U.S. demands are intended to seal NAFTA’s demise
A trade expert involved in the first NAFTA negotiation said the U.S. behaviour in the current NAFTA talks is a vivid and unprecedented example of how not to negotiate. He called it a tactic designed to ensure failure
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UK defence mega-company BAE cutting 2,000 jobs
A union official decried the cuts, saying they will undermine Britain’s sovereign defence capability and “devastate communities across the U.K. who rely on these skilled jobs.”
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Craft beer brewers’ success hinges on economies of scope, not scale
Canadian-owned players can simply never match the reach and cheap retail prices of international brewing companies, but can find success by catering to a niche
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Canadians more pessimistic about their financial future: Poll
In a recent survey, the number of Canadians who self-identify as “middle class” sits at 43 per cent, the lowest recorded since 2002 when about 70 per cent of Canadians defined themselves in those terms
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Canada’s economic growth will lead G7, says IMF
The Washington-based International Monetary Fund is now estimating Canada’s gross domestic product for 2017 will be 3.0 per cent, half a percentage point higher than its July estimate
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Honeywell spins-off more than US$7B in operations, keeps aerospace division
Industrial giant Honeywell is becoming two separate and publicly traded companies, spinning off its homes product portfolio and ADI global distribution business, along with its transportation systems business