Friday, October 24, 2014

Business

Ford opts for Mexico

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.

Interest rate holds steady

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.

Canadians plan to do more holiday shopping online this year: poll

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.

HBO going after 80 million US homes with no HBO with stand-alone streaming service next year

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?

Canadian Tire targets ‘generational shift’

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.

Cell users near U.S. border can face roaming charges due to interference: group

REGINA — A consumer advocacy group says wireless customers living near the border are at risk of accidental roaming charges due to interference from U.S. carrier signals.
Bruce Cran, president of the Consumers’ Association of Canada, said it’s a national problem that affects every cellphone provider in the country.

Postmedia to buy Sun operations

TORONTO—Postmedia Network Canada Corp. today announced an agreement to buy Sun Media Corp.’s English-language operations from Quebecor for $316 million in a deal it says gives it the scale to compete in the changing media environment.
Postmedia chief executive Paul Godfrey said Sun Media’s digital properties, including the Canoe website in English Canada, were key to the deal.

Encore shaking up Canadian regional flying as it prepares east and U.S. expansion

MONTREAL — WestJet Encore is shaking up Canada’s regional airline market, pressuring rivals to cut fares and lower costs as it prepares to expand its presence in Eastern Canada and enter the United States.
Launched more than a year ago, the Calgary-based carrier claims to be “liberating Canadians from the high cost of air travel” and stimulating demand.

Canadian satellite delayed by political dispute with Russia to be launched by India

MONTREAL — The launch of a Canadian satellite, postponed amid tensions in the Ukraine, is finally scheduled for liftoff — one year behind schedule.
The M3M communications satellite, which was originally to be launched aboard a Russian rocket, will instead blast into orbit from India next July.

Harper says 2013-14 deficit projected at $5.2 billion, down from $16.6B

BRAMPTON, Ont. — The federal deficit for the last fiscal year is expected to come in at $5.2 billion — well below earlier forecasts, says Prime Minister Stephen Harper.
In the last federal budget, the deficit for 2013-14 was projected at $16.6 billion, Harper told a business audience Thursday in Brampton, Ont.

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