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Long-time Bay Streeter Bill Morneau brings rich experience to Canada’s top finance post

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OTTAWA — When it comes to finance ministers, Canada’s new budget czar is no small potatoes. A millionaire many times over, Bill Morneau — until now a hugely successful businessman and adviser to people in high places — is, by all accounts, a very smart guy, who is also married …

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Slamming Obama’s Keystone decision on Twitter

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Everybody seems to have an opinion about President Obama’s decision to kill the Keystone XL pipeline by rejecting TransCanada Corp.’s application. Here are some of the more notable and amusing tweets. The billionaire energy guru… From start to finish, President @BarackObama handling of #KeystoneXL pipeline is a national embarrassment & …

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Obituary: Keystone XL, age 7, choked on political baloney

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The Keystone XL project, age 7, passed away on Friday, the victim of protracted political gamesmanship. In its short life, the humble pipeline was able to achieve a symbolic power that elevated its public profile beyond its actual importance. Keystone XL may be gone, but its status as an exaggerated …

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Wal-Mart Stores Inc employees demanding discount on food in latest labour flashpoint

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After successfully lobbying Wal-Mart Stores Inc. to raise wages, workers have a new demand: Give employees a discount on food. For the world’s largest retailer, that could cost more than US$400 million. Wal-Mart cutting workers’ hours after pay raise boosts costs Wal-Mart Stores Inc., in the midst of spending US$1 …

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Starbucks Canada targets youth unemployment with program to hire at-risk young people

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TORONTO — Starbucks Canada is expanding a program to address “a crisis” in youth unemployment by committing to hire 10 per cent of its work force from among the country’s disadvantaged young people. The Opportunity Youth program was launched as a pilot in Toronto in April. Starbucks will expand the …

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Bank of Canada’s Carolyn Wilkins says innovation key, as central bank policy ‘stretched to its limits’

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OTTAWA — When it comes to monetary policy, there appear to be few limits to innovation, both during and after the global economic and financial meltdown between 2007-09. “Confident as we are in how we do things,” says Canada’s No. 2 monetary policymaker, the Bank of Canada is examining how …

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How Canada is becoming the orphan equity market nobody wants

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Canada is the orphan equity market nobody wants. First oil, now Canada's corporate heroes are crashing — no wonder bond investors are running for the exit Turmoil with market heavyweights Valeant Pharmaceuticals and Bombardier has helped push Canadian high-yield bonds to their worst performance since 2008. Read on Hammered by …

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Pandora acquiring Rdio technology for US$75M, promises more streaming features by late 2016

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OAKLAND, Calif. — Pandora says it is acquiring technology and intellectual property from Rdio and will add new features to its Internet music streaming service by late next year. The US$75 million cash deal depends on Rdio seeking bankruptcy protection and gaining court approval for the deal. Rdio will wind …

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Analysts weigh in on Hydro One: Four holds, four buys and $22-$26 target

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The first batch of analyst’s reports on Hydro One, the former distribution and transmission utility owned by the government of Ontario which recently made its initial public offering, has just been published. In all, according to Bloomberg, eight analysts have published their views on the company that sold 81.1 million …

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Riots destroy Canadian mine in Mozambique, Pacific Wildcat Resources’ second project to face trouble

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TORONTO — Rioters have destroyed a Canadian-owned tantalum mine in Mozambique, injuring security officers and setting fire to the site, the company says. Pacific Wildcat Resources, in a press release issued late last week, said company representatives had fled its Muiane mine to the city of Nampula, around 120 kilometres …

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