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Bombardier Inc CSeries jet gets green light for service from Transport Canada

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MIRABEL, Que. — After delays and cost overruns, Bombardier’s US$5.4-billion CSeries passenger jet has been given the green light to enter into commercial service. The largest plane built by the Montreal-based manufacturer was formally certified on Friday by Transport Canada. Transport Minister Marc Garneau announced the go-ahead during a news …

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Innovation, efficiency the new mantra for manufacturers as they await sustained recovery

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OTTAWA — Ever since the recession — the big one in 2008-09, not the mini-downturn of 2015 — manufacturers have been wishing and hoping for a big turnaround in their sector. Canada’s economy unexpectedly stalls, setting uncertain tone for end of the year Growth in Canada’s economy was flat in …

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Canadian lawsuit names Bank of Nova Scotia in gold price manipulation

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TORONTO — Bank of Nova Scotia, embroiled in a lawsuit in the United States along with a handful of international banks over alleged manipulation of a key benchmark based on the gold price, is facing a fresh lawsuit filed in Canada. Lawyers at Sotos LLP, Koskie Minsky LLP and Camp …

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GMP Capital Inc to cut 97 jobs, suspend dividend, exit U.K. and Australia

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Independent Canadian investment dealer GMP Capital Inc. is pulling out of the United Kingdom and Australia and suspending its quarterly common share dividend to deal with the effects of weak commodity prices and increasing regulation. Offices in London, Perth and Sydney will be closed, and 97 jobs will be cut, …

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Scrap crowdfunding to help TSX Venture Exchange, IIAC CEO urges

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The Investment Industry Association of Canada is calling on provincial securities regulators to scrap equity crowdfunding to help turn around the fortunes of the TSX Venture Exchange. “The TSXV is a far more effective vehicle for raising capital than crowd-funding, and provides far better protection for investors,” Ian Russell, chief executive …

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BHP Billiton dividend cut looms as it takes US$7.2-billion shale charge

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MELBOURNE —Global miner BHP Billiton said on Friday it will write down the value its U.S. shale assets by US$7.2 billion on a bleak outlook for oil and gas prices, cementing expectations it will be forced to cut its dividend for the first time in over 25 years. Investors have …

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Ontario set to issue green bonds in second issue, seeks a minimum of $500 million

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The stage is set for a second green bond issue by the province of Ontario. The province, which raised $500 million of four-year debt at 1.75 per cent in October 2014, has announced the lead managers for an upcoming offering. Given that marketing has started, the deal could be priced …

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Alberta losing reputation as energy investment destination in wake of higher taxes

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Alberta, home to Canada’s oilsands, slid lower in a global ranking of energy investment destinations as the industry’s mounting woes are compounded by higher provincial levies. Just as its oil and gas producers reel from a price crash and hurdles to pipeline projects like TransCanada Corp.’s Keystone XL, an increase …

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Northern Gateway pipeline gets handed another setback from B.C. Supreme Court

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VANCOUVER — An alliance of First Nations is celebrating a British Columbia Supreme Court ruling that it says could set back the Northern Gateway pipeline by years and throw a wrench into another high-profile project review. The case was brought forward by the Gitga’at First Nation and Coastal First Nations, …

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Bank of Nova Scotia sets earnings target for four Latin American nations

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Bank of Nova Scotia, Canada’s third-largest lender by assets, aims to increase earnings by as much as 11 per cent in four key Latin American countries within three to five years by adding more customers, embracing technology and cutting costs. “Combined, our operations in Mexico, Peru, Chile and Colombia are …

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