Wednesday, September 3, 2014

Business

Applications up, approvals slow for Health Canada medical marijuana licences

OTTAWA — The number of Canadian firms applying for lucrative medical marijuana licences has topped 1,000, as a so-called “greenrush” continues to overwhelm Health Canada.
So far, only two new licences have been approved this summer even as the department tightens the application rules — and as nervous investors await decisions on their multimillion-dollar bids.

Federal legislation will end fees for getting monthly bills on paper: minister

OTTAWA — Although the big telecom companies have agreed to exempt some customers from fees charged for paper invoices, the federal government says it’s going to end the whole practice.
Industry Minister Jams Moore says the government will introduce legislation to end what is called pay-to-pay, that is charging people for a monthly bill on paper.

Canadians pay more than $500M in fees a year for paper bills, statements: report

TORONTO — Canadians are probably paying more than half a billion dollars a year to receive printed bills and bank statements by mail, suggests a report released Wednesday by the Public Interest Advocacy Centre.

Canada Post earns profit, gets boost from parcels and lower pension costs

OTTAWA — The Canada Post Group of Companies reported Wednesday a net profit of $67 million in the second quarter, boosted by growth in its parcel delivery business and lower pension costs

Housing more affordable in second quarter as low rates offset high home prices

TORONTO — The Royal Bank (TSX:RY) says housing was more affordable across Canada in the second quarter as low mortgage rates offset solid price increases.
In its latest Housing Trends and Affordability Report, the bank says it found that owning a home was more affordable in virtually all provincial and major local markets in the quarter.

Saskatoons or Juneberries? Name debate brewing between Canada and U.S.

REGINA — A food fight of sorts could be growing between Canada and the United States over a tiny berry.
A U.S. researcher with the Cornell University Co-operative Extension is suggesting Canadians use the name Juneberries when selling Saskatoons south of the border.
The Saskatoon berry, which mostly grows on the Prairies, looks similar to a blueberry but is considered more nutritious.

Tim Hortons and Burger King to join forces to form a new company

OAKVILLE, Ont. — Miami-based Burger King is buying Canada’s iconic coffee chain Tim Hortons for about US$11-billion in a deal that will allow the two fast food companies to operate as independent brands.
The companies say the transaction will create a new company that will form the world’s third-largest quick service restaurant company.

Families of victims in recent airline crashes could seek compensation above normal limits

Families of passengers who were on the Malaysia Airlines plane shot down over Ukraine are starting to sort through the long process of gaining compensation for their loss.
Officials in the Netherlands, where the majority of Flight 17 victims lived, say that Malaysia Airlines has been making $50,000 payments to the families without admitting any wrongdoing in the crash.

Burger King in talks to buy Tim Hortons, creating new publicly listed company based in Canada

MIAMI — Burger King is in talks to buy Tim Hortons in hopes of creating a new, publicly traded company with its headquarters in Canada.
With a new base in Canada, Burger King, now based in Miami, could shave its U.S. tax bill. Tax inversions have become increasingly popular among U.S. companies trying to cut costs.

Greenpeace says defamation lawsuit an attempt to muzzle criticism

THUNDER BAY, Ont. — An environmental group has filed court documents saying a lawsuit against it is an attempt to silence its criticism of a forestry company’s harvesting practices.

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