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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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Toronto’s Mink Mile is Canada’s most expensive place to rent retail space, but still a long way from Fifth Avenue

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TORONTO — Toronto’s famed “Mink Mile,” home to some of the world’s most luxurious retail brands, is the most expensive place to rent space in Canada, according to a new study. But even making it to the top spot in Canada only places the country’s largest city at 21st in …

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Trans Mountain pipeline costs rise to $6.8 billion, but Kinder Morgan says project worth the price

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CALGARY — The Trans Mountain pipeline expansion is getting more expensive, but the company planning to build it says the economic case for the project is still strong. Kinder Morgan, the U.S. company behind the pipeline project, doesn’t yet have a formal estimate of how the price tag has changed …

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Tim Hortons abruptly shutters some stores in New York and Maine

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TORONTO — Turns out not everyone has time for Tim Hortons, especially in the United States. The coffee and doughnut chain took surprise measures this week when it pulled the plug on some restaurants in New York and Maine as part of a performance review. The closures sparked plenty of …

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Already stung by UberX, traditional cabs may face new challenge with Téo — Canada’s first electric taxi fleet

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MONTREAL — Canada’s first electric taxi service will be out on the streets of Montreal next week, though some worry this green innovation may only add to the struggles for traditional cab owners already hit hard by the UberX car-sharing app. Montreal entrepreneur and investor Alexandre Taillefer presented the new company, called …

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Sun Life CEO to Trudeau government: Go easy on CPP reforms

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TORONTO — The chief executive of Sun Life Financial says Canada’s new federal government should go easy in proceeding with promised changes to the country’s public retirement system, the Canada Pension Plan. “CPP was designed to provide basic income replacement, not to be a panacea,” Dean Connor, CEO of Sun …

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