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Bombardier Inc rejects Toronto Transit Commission request for public explanation of streetcar delays


No Bombardier Inc. executives will attend Monday’s Toronto Transit Commission board meeting despite the TTC’s request that the company’s CEO appear in person to explain persistent streetcar production delays. “There’s no provision (in the contract) that says we have to go discuss this publicly before their board,” Bombardier spokesman Marc …

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Investors rights at most REITs not up to standards, governance group warns


TORONTO — Real estate income trusts, which are proliferating on public stock exchanges in Canada, are coming under pressure to make it easier for discontented unit holders to be heard and to seek remedies. The push is coming from a corporate governance group backed by some of Canada’s largest pension …

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‘It has been hard and it’s going to get harder’: Calgarians share their stories of being laid off


Earlier this month, the Calgary Herald asked Calgarians to share their stories of how losing their job in the economic downturn has changed their lives. They received dozens of replies. Here are some of them. Laid-off Calgarians losing hope as prospects dwindle and money runs short Almost 15,000 Albertans have …

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Sears Canada Inc faces another $100-million class action lawsuit from its dealers


TORONTO • Sears Hometown store dealers have filed a second $100-million class action suit against Sears Canada Inc., its biggest shareholders and board of directors, alleging they approved hundreds of millions of dollars in special dividends in 2013 that would only benefit the big shareholders. Sears Canada decided to liquidate …

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Bank of Canada keeps key rate at 1/2 per cent as economy faces ‘complex and lengthy adjustment’


OTTAWA — Despite some obvious rough patches in the economy, the Bank of Canada appears content to ride over them for the next few months — and perhaps a lot longer. Governor Stephen Poloz and his policy team reinforced that view on Wednesday, choosing to keep their trendsetting interest rate …

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Canadian companies have ‘false sense of security’ when it comes to cyber threats: report


Many Canadian businesses have “wrapped themselves in a false sense of security” when it comes to resisting cyber attacks, according to a new survey by Deloitte. A false feeling of preparedness, often because there has been no attack to date, leaves the door open “even wider for the would-be attackers,” …

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Oil tanks below US$40 a barrel after OPEC mantains output amid global glut


NEW YORK — Oil prices fell on Friday after news that the Organization of Petroleum Exporting Countries was planning to maintain its production near record highs despite depressed prices, as the producer group continued to guard its share of an oversupplied market. The group failed to agree on a new …

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More ‘bruises and bloodshed’ expected for Air Canada and WestJet


Canadian airline investors aren’t reaping the benefits of the sharp decline in oil prices, and one analyst thinks he knows why. Air Canada and WestJet Airlines Ltd. are both down about 25 per cent in the past six months, while WTI oil prices have declined more than 30 per cent …

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Rio Tinto suddenly has a pair of 60-year-old legal problems in Canada that miners worry will scare off investors


Rio Tinto Group has found trouble on both ends of Canada. The global mining giant is being told it can’t skirt a pair of lawsuits that reach back to projects built in the 1950s, a quarter-century before it first set foot in Canada. On a single day in October, the …

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From politics to Bay Street: first Ian Robertson and now Jenni Byrne


For the second time in the past year a former director for the losing Conservative Party campaign has moved to the financial world from the world of politics. On Friday Bayfield Strategy Inc., which defines itself as “a leading financial communications firm,” welcomed Jenni Byrne to its team. Byrne was …

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