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Sears Canada Inc faces another $100-million class action lawsuit from its dealers

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TORONTO • Sears Hometown store dealers have filed a second $100-million class action suit against Sears Canada Inc., its biggest shareholders and board of directors, alleging they approved hundreds of millions of dollars in special dividends in 2013 that would only benefit the big shareholders. Sears Canada decided to liquidate …

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3 reasons to be bullish on gold in 2016

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Gold prices recently hit yet another five-year low, but HSBC is calling for a bounce back in 2016. James Steel, the firm’s chief precious metals analyst, highlighted three primary reasons to get a little more bullish on bullion. The first is emerging-market demand for gold, particularly the likelihood of increased …

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‘Dr. Copper’ plunges to US$2 for first time since 2009: ‘Things are quite horrible and about to get worse’

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Copper goes by the nickname “Dr. Copper,” because the red metal is viewed as a barometer for the global economy. And unfortunately, it hasn’t been saying anything cheery of late. Copper prices plunged back to US$2.00 a pound this week, the first time they have touched that level since the …

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Black Friday, Cyber Monday sales expected to boom in Canada this year

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TORONTO — Despite recent challenges faced by Canada’s retail sector, analysts have a rosy outlook for the looming holiday shopping season — particularly on Black Friday and Cyber Monday. Cross-border shopping, reversed: This Black Friday, Canadian malls set to be packed with Americans It’s likely that this year there will …

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Canada’s investment dealers urged to make detailed plans to respond to cyber attacks

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Canada’s investment industry association is urging dealers to make detailed plans at the most senior levels to prepare for and respond to cyber attacks. “The cyber threat is far too sophisticated and serious to relegate it simply to the firm’s IT department,” Ian Russell, chief executive of the Investment Industry …

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Mainstreet Equity offering ‘at least’ 200 apartment units for Syrian refugees, says CEO who was also a refugee

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The Calgary-based public company Mainstreet Equity Corp. is offering “at least” 200 of its apartment units, all in Western Canada, to help house the Syrian refugees who will start arriving in Canada this week. “What we are trying to do,” said Bob Dhillon, Mainstreet’s founding chief executive officer, “is to …

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Resolute Forest Products says it won’t pursue new FSC certifications

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MONTREAL — Resolute Forest Products is threatening not to seek new Forest Stewardship Council certifications for its Canadian forests over fears that possible changes to the designation process could constrain its supply of wood. Chief among the Montreal-based company’s concerns is a proposal by Greenpeace that would see “the vast …

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‘This is not a jet’: Pratt & Whitney exec explains why CSeries is quieter than critics think

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When politicians and activists talk about Porter Airlines’ plan to fly “jets” out of Toronto’s downtown airport, they show a fundamental misunderstanding of the technology on Bombardier Inc.’s CSeries aircraft, according to the executive who developed the plane’s engine. Ottawa says ‘no’ to jets at Toronto island airport, dealing blow …

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Maple Leaf Foods Inc set to emerge from years of restructuring leaner, more competitive

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Maple Leaf Foods Inc.’s plan to cut 400 jobs to streamline operations suggests the food processor will emerge as a leaner, more competitive company after years of costly restructuring, analysts say. The company, which employs 12,000 people, has spent seven years and $1 billion in an operational overhaul that saw …

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TransAlta Renewables gets $200M investment from Alberta fund manager AIMCo

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CALGARY – Alberta’s provincially owned investment management company bought a $200-million stake in a local renewable power provider Monday, the day after the province announced it would phase out coal-fired electricity generation. Alberta Investment Management Corp., which manages more than $75-billion worth of investments from the province’s government pension funds, …

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