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More information on HollisWealth settlement with MFDA could have been useful


It was unfortunate timing: In the same week when Bank of Nova Scotia was announcing the launch of its new Scotia Wealth Management brand, another one of its units was being fined and censured by its industry association, the Mutual Fund Dealers Association of Canada. But you would never know …

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TMX CEO waves off competitive threats as rivals gather at the gates


TORONTO — Lou Eccleston, the CEO of TMX Group Ltd., puffed his chest and dismissed the wave of new entrants that run, or likely plan to run, a rival stock exchange to the ones he operates. Besides, did you assume he was just going to sit back and watch it all unfold? No, he says …

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Bombardier Inc’s Pierre Beaudoin expected to step down as chairman, source says


WASHINGTON/MONTREAL — Pierre Beaudoin is expected to step down as executive chairman of Canada’s Bombardier Inc in early 2016, according to a source familiar with discussions about the issue, a move that could erode family control of the plane and train maker. The source, who was not authorized to speak …

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Canada well positioned to become Islamic banking hub, according to report


TORONTO — Islamic banking is being touted as the next big thing for Canada’s financial services sector, but experts say it’s up to the new federal government to demonstrate that it welcomes Shariah-compliant investments. “It’s absolutely fundamental that the Canadian government signal that, in fact, it is open to Islamic …

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Oilfield services companies face a 2016 where there’s little left to cut


While some of his peers are shuttering their business or moving their rigs out of Canada to friendlier jurisdictions, Rene Amirault is staying put. Deficit, belt-tightening and new taxes: Like Alberta, Saudi Arabia is finally feeling oil crash pain Claudia Cattaneo: Too bad the world’s top oil exporter isn’t saving …

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


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


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


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


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


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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