Business
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Water bombers are aging but demand is increasing: experts
Montreal – Aviation experts say Canada is losing its expertise in building seaplanes as demand for them increases. A purpose-built water bomber, the Canadair CL-415 was last produced in 2015. This plane and its predecessor, the CL-215, are the only water bombers in service with Quebec and play a major role in other provinces’ fleets. . On Monday, Montana water…
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Irving Oil says it may sell its assets
Irving Oil said it was conducting a “strategic review” of the potential sale. Wednesday’s release the company says The company is considering several options for the future, including selling assets. “No decisions have been made as to what direction this strategic review will take,” the company said in a release. “A new ownership structure, a sale of all or part,…
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Workers at Barnes & Noble in Manhattan’s Union Square vote to unionize, continuing trend
new york – Workers at Barnes & Noble in Manhattan’s Union Square, one of the retail chain’s flagship stores and home to its corporate headquarters, voted to form a union. They join a handful of other Barnes & Noble store employees in the Northeast who have joined unions in recent weeks, following a wave of union activity at independent bookstores…
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The pause on student loan payments is ending. Can borrowers find room in their budgets?
Washington – In a good month, Serena Chantanuvong would have about US$200 left after rent, groceries and car insurance. This does not take into account her student loans. It has been on hold since the pandemic began and is estimated to cost $300 a month. A moratorium on payments has become a lifeline for the 25-year-old. “I don’t even know…
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Canadian Pacific found guilty of contempt of court
Ottawa – A federal judge has found Canadian Pacific Kansas City guilty of contempt of court for excessive employee overtime. In 22 cases in 2018 and 2019, railway operators failed to comply with stop orders issued by arbitrators, according to the ruling. The order was for a rest clause that would drastically limit working hours to 10 or 12 hours,…
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Dollarama sees 21 per cent increase in sales year-over-year
Montreal – Dramarama posted a 21% year-over-year increase in sales in the latest quarter as discount retailers lured consumers seeking cheaper products amid high inflation. The company said strong demand continued across the board for the quarter ended April 30, from consumables to seasonal to general merchandise, resulting in a 23% year-over-year increase in profit. Same-store sales saw a nearly…
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Rate hike ‘may be the last straw’ for some homeowners: mortgage broker
The hike has pushed Canada’s key interest rates to levels not seen since 2001, and a mortgage broker may be the ‘last straw’ for some homeowners with variable mortgages. warned. Ontario mortgage broker Ron Butler told the CTV News channel on Wednesday, “In the last three weeks, I’ve started hearing from people that they’re actively considering selling their homes.” “They…
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Canadian hydropower limits concern U.S. decarbonizing plans
Hartford, Connecticut – Policymakers seeking to make the U.S. grid less dependent on fossil fuels have long turned to Canada and its abundant surplus hydropower in the north, to push more cheap, clean electricity to the south. has advocated the construction of new transmission lines to bring But even north of the border, demand for green energy is growing, raising…
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Bank of Canada to announce interest rate decision this morning
Ottawa – The Bank of Canada is set to announce a rate decision this morning as speculation of another rate hike heats up. Recent economic data suggest Canada’s economy is doing better than forecasters expected, raising concerns about the inflation outlook. Statistics Canada reported last week that real gross domestic product (GDP) grew at an annualized rate of 3.1% in…
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Cenovus restarts oil production after Alberta wildfires
Calgary-based Cenova Energy announced that it has safely restarted some of its production that had been halted due to the threat of wildfires in northern and central Alberta. The company said on Monday it had restarted about 62,000 BOE/day of its 85,000 BOE/day oil equivalent that was affected by wildfire risk. Its production was from Rainbow Lake, Kaybob Edson, Elmworth…
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