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Brace for another year of slow growth and loonie below 70 cents, Canada’s top forecasters warn

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TORONTO — Canada is headed for a rocky year as low oil prices continue to drag on economic performance, the chief economists of some of Canada’s biggest banks said Tuesday. Bank of Montreal chief economist Douglas Porter told a morning gathering of leading economists that it’s going to be a …

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WestJet Airlines Ltd faces challenging 2016 thanks to high exposure to weak Alberta

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The bloom came off the rose for Canadian airline stocks in 2015 despite plunging fuel costs, and 2016 could prove to be even more challenging as capacity additions continue to eclipse economic growth. The quotable Gregg Saretsky: WestJet CEO on Air Canada competition, unionization and more On Air Canada’s decision …

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Chipotle Mexican Grill Inc sales plunge as foodborne illness outbreak brings federal subpoena

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Chipotle Mexican Grill Inc., struggling to rebound from multiple outbreaks of foodborne illness, reported a bigger plunge in fourth-quarter sales than the restaurant chain expected and said it got served with a subpoena in a federal criminal investigation. How Chipotle is changing its cooking methods after a devastating E. coli outbreak …

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Freshii facing lawsuit from Vancouver-area franchisees over exclusivity claims

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TORONTO • Healthy fast food purveyor Freshii Inc. is being sued by franchise holders for the Vancouver area, who allege the food chain allegedly reneged on a planned master franchise agreement with the group. Three Fresh Guys Inc., which operates five Freshii restaurants in greater Vancouver, issued a statement of …

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Saudi Arabia considers bringing world’s biggest oil company Aramco to market: report

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CALGARY  • The Kingdom of Saudi Arabia is reportedly considering selling shares in its crown jewel: its state-owned oil-producing company Saudi Aramco. The kingdom’s deputy crown prince Muhammad bin Salman said in an interview with The Economist published Thursday that a sale of shares in Saudi Aramco is “something that is …

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Hyundai unveils Ioniq, its first hybrid-dedicated car to take on Toyota’s Prius

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SEOUL — South Korea’s Hyundai Motor on Thursday unveiled its first dedicated gasoline-electric vehicle, becoming one of a handful of automakers to challenge Toyota Motor’s Prius as low oil prices weigh on demand for fuel-efficient vehicles. Hyundai Motor Senior Vice President Lee Ki-sang said automakers had no choice but to …

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Deficit concerns heighten as economy teeters on the edge of another downfall

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OTTAWA — It could be time to end the debate over the benefits of using monetary policy versus government fiscal muscle to stop the economy from going over the edge. How the Liberal 'revenue neutral' tax plan could cost billions and push top talent south The biggest hit will be …

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‘Currency instability’ now a serious concern for Canada

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TORONTO • Canada’s economy is being threatened by “currency instability” as the loonie’s rapid decline against the U.S. dollar is hurting business and consumer confidence, economists warn. What living with a low dollar means to ordinary Canadians Jack Mintz: Canadians now need to make $100,000 a year to make the …

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Every Chipotle in the United States will close briefly next month for a staff meeting on food safety

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In the wake of a nightmare year for Chipotle, in which hundreds of people were sickened after eating at the popular Mexican-inspired fast food chain, the company says it is taking another step to clean up its act. How Chipotle is changing its cooking methods after a devastating E. coli …

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Lundin Gold Inc completes development agreement for Ecuador Fruta del Norte project

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TORONTO — Canadian mining company Lundin Gold Inc said on Thursday it will pay the government of Ecuador an advance royalty of $65 million under an agreement setting out the financial terms for development of its Fruta del Norte project. A windfall tax will not apply until Lundin has recouped …

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