Update: Qatar Investment Authority Songbird bid rejected
The Qatar Investment Authority along with Brookfield Property Partners L.P. made an offer to buy Songbird Estates, which was rejected on Friday. The Qatari...
CRTC bans 30-day notice to cancel cable, internet, or phone services
The CRTC has made it easier to cancel a cable subscription, by banning telecom companies from requiring customers to provide 30 days’ cancellation notice to...
Canadian Tire Corp. posts 22 percent boost in third quarter profit
Canadian Tire Corp. reported an impressive 22 percent increase in third quarter profit, mainly driven by strong sales across all of its banners stores.
The...
SNC-Lavalin cutting 4,000 jobs, downgrades earnings forecast
SNC-Lavalin Group Inc., Canada’s largest engineering and construction company, has announced it will be cutting 4,000 jobs as part of its restructuring plan to...
Honda unveils C$857m plant investment in Ontario, backed with local support
Honda Canada Inc. says it is investing C$857 million (US$752 million) in its Ontario production operations. Japan’s second largest automotive company said the province...
Dairy Crest sells milk division to Müller, posts 95% profit nosedive
British company Dairy Crest Group plc said it has agreed to sell its milk business to Müller UK and Ireland Group for £80 million...
UK interest rates stay at 0.5% record low, quantitative easing extended
The Bank of England’s Monetary Policy Committee voted on Thursday to keep interest rates at their record low of 0.5% and to extend its...
German factory orders slightly up, but 3rd quarter GDP decline likely
German factory orders recovered slightly in September, increasing by 0.8% after a sharp -4.2% (revised) decline in August. Economists had expected factory orders to...
Morrisons posts 6.3% sales fall, starts price-matching discounters
The UK’s fourth-largest supermarket chain Morrisons posted a 6.3% decline in sales. The Bradford-based company has started price matching the discounters in its drive...
Tesla posts bigger loss and massive revenue jump
Electric car and vehicle power train component maker Tesla Motors Inc. posted an increased third quarter loss and revenue that almost doubled from $431...