OTTAWA — Canada’s major banks and credit card companies have reached a deal with the federal government to cut the fees charged to merchants for credit transactions, sources familiar with the negotiations say.
The voluntary agreement could mean cost savings for up to 700,000 large, medium-sized and small businesses across the country.
DETROIT — Fiat Chrysler is recalling more than 566,000 trucks and SUVs, including some 68,000 in Canada, in two recalls to fix malfunctioning fuel heaters that can cause fires and a software glitch that can disable the electronic stability control.
OTTAWA — The federal government’s battle to lower the fees retailers pay to use credit cards — and theoretically cut costs for consumers — may be coming to an end.
Ottawa could announce an agreement among the credit card companies, big banks and the Competition Bureau today that may result in a reduction of so-called interchange rates.
WOODLAND, Calif. — California’s deepening drought is shrinking its rice harvest, and that’s bad news for farmers, migratory birds and sushi lovers.
The $5 billion industry exports rice to more than 100 countries and specializes in premium grains used in risotto, paella and sushi. Nearly all U.S. sushi restaurants use medium-grain rice grown in the Sacramento Valley.
TORONTO — The landmark Royal York Hotel in downtown Toronto will have new owners under an agreement between InnVest Real Estate Investment Trust (TSX:INN.UN), the KingSett real estate company and Ivanhoe Cambridge.
The joint venture will acquire the 1,363-room hotel for a total of $186.5 million.
TORONTO—Unifor says Ford Motor Co. has decided to build its new engine in Mexico after it was unable to reach a deal with the federal and Ontario governments.
Unifor national president Jerry Dias said the union is disappointed the company and the two levels of government could not reach an agreement after months of talks.
OTTAWA—It is essential for the bulk of Canadian economic activity to begin shifting from the backs of households to business investment and exports, the Bank of Canada said yesterday as it kept its trend-setting interest rate fixed at one percent.
TORONTO — Canadian consumers have been shopping online more frequently this year and plan to hit the web for more of their gift buying this December, suggests a recent survey.
NEW YORK — Next year HBO is cutting the cord and selling its popular streaming video service HBO Go as a stand-alone product, as more Americans choose to watch the Web, not the TV. Viewers longing to see “Game of Thrones”, “True Detective” and “Veep” will no longer have to pay big bucks for cable and satellite contracts. So, is this the end of pay-TV as we know it?
TORONTO—Future growth at Canadian Tire depends on the retailer staying young, the company’s new top manager predicts.
The Toronto-based company’s incoming chief executive says Canadian Tire will be focused on targeting a younger clientele across all of its brands over the next three years.