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BMO ran $288M 'abusive' tax dodge: CRA

cbc news - Wed, 11/08/2017 - 05:00

The Bank of Montreal ran an "abusive" tax avoidance scheme and inflated its losses by $288 million using foreign shell companies, deliberately thwarting Canada's tax laws, the federal government alleges.

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How TransCanada and 'dark money' groups pumped millions into Keystone XL

cbc news - Wed, 11/08/2017 - 05:00

A new investigation by The Fifth Estate explores the hidden role of money and power in the battle over the Keystone XL pipeline.

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BMO's offshore dealings detailed in Paradise Papers leak

cbc news - Wed, 11/08/2017 - 05:00

The Paradise Papers leak has provided an unprecedented look at the offshore manoeuvrings of a big Canadian bank, including what senior BMO executives fretted about behind closed doors as they ran a subsidiary based in a tax haven.

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New immigration program helping Canada in the global war for high-tech talent

cbc news - Wed, 11/08/2017 - 05:00

The Global Skills Strategy, a fast-track immigration program designed to bring high-tech talent to Canada, has hooked more than 1,600 people in its first two and a half months, according to numbers obtained by CBC News.

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Snap's shares tumble as user growth falls short of expectations

cbc news - Tue, 11/07/2017 - 17:23

Snapchat-owner Snap Inc. on Tuesday reported slower user growth than Wall Street expected and said it was redesigning the app, sending shares down about 20 per cent on concerns it was being beaten by established rivals such as Facebook's Instagram.

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Bank of Canada governor not worried about expectation for low inflation

cbc news - Tue, 11/07/2017 - 16:16

Canada's central bank is not worried that people will expect very low inflation to continue because it has repeatedly fallen short of the Bank of Canada's two per cent target, governor Stephen Poloz said Tuesday.

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Are you not entertained? Canadian sports tech companies want to change that

cbc news - Tue, 11/07/2017 - 14:09

As sports media companies deal with declining viewership, several Canadian tech startups have joined the race to change the way people consume sports.

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Cineplex CEO says weak Q3 attendance was due to one month, Q4 looks better

cbc news - Tue, 11/07/2017 - 14:07

Despite Cineplex's lowest third-quarter attendance numbers in more than a decade, the head of Canada's largest movie theatre chain says 2017 will probably end up on a par with last year thanks to a strong roster of new titles in the final months.

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How Apple used Jersey to keep its Irish tax loophole under wraps

cbc news - Tue, 11/07/2017 - 12:25

After coming under fire for stashing billions in profits in Ireland's low-tax jurisdiction, Apple set up other tax-reducing subsidiaries, including one in the British island of Jersey.

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OPEC seeks consensus on duration of oil cut pact before meeting

cbc news - Tue, 11/07/2017 - 12:02

OPEC is seeking to achieve consensus agreement before a meeting on Nov. 30 on how long to extend a global pact to curb oil production, OPEC's secretary general said on Tuesday, with no country unwilling to prolong the accord.

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'Back to Alberta': Laid-off Donkin mine workers ponder their future

cbc news - Tue, 11/07/2017 - 11:48

Forty-nine Donkin mine workers are considering returning to work in Alberta after getting their layoff notices Tuesday.

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Valeant shares surge after drugmaker reports $1.3B US quarterly profit

cbc news - Tue, 11/07/2017 - 10:42

Shares of Valeant Pharmaceuticals International Inc. surged Tuesday after the company reported a profit of $1.3 billion in its latest quarter, boosted by a one-time gain related to an internal tax reorganization.

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BCE offers $16 a share to buy AlarmForce

cbc news - Tue, 11/07/2017 - 09:22

Telecom conglomerate BCE Inc. is offering to buy home security firm AlarmForce Industries Inc. for $166 million.

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Paul Martin's former company one of offshore firm's 'largest clients,' Paradise Papers show

cbc news - Tue, 11/07/2017 - 09:00

The Paradise Papers leak shows a bigger chunk of former prime minister Paul Martin's financial legacy has been routed through offshore jurisdictions than was previously known.

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How many billions of potential tax dollars aren't collected each year? Don't ask CRA

cbc news - Tue, 11/07/2017 - 05:00

It's no secret that many wealthy Canadians are squirrelling away fortunes offshore to avoid — or even evade — taxes. What is secret is just how much money it's costing fellow Canadians and the national treasury each year.

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'A joke': Some TD customers say e-transfers still down a week later

cbc news - Tue, 11/07/2017 - 05:00

CBC News continues to hear complaints from TD Canada Trust customers after the bank said last week it had resolved its e-transfer payment problem.

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Stephen Bronfman denies link to offshore trust, but documents show it helped expand family business

cbc news - Mon, 11/06/2017 - 22:45

Liberal fundraiser Stephen Bronfman, under fire for his ties to an offshore trust in the Cayman Islands exposed in the Paradise Papers, insisted Monday that he "has never funded nor used offshore trusts." But documents point to close business ties between his investment company Claridge and the Cayman Islands-based Kolber Trust.

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Murray Koffler, founder of Shoppers Drug Mart, dead at 93

cbc news - Mon, 11/06/2017 - 18:14

Murray Koffler, the founder of Shoppers Drug Mart, has died at the age of 93, according to Loblaw Companies Ltd.

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Canadian airlines suspend winter flights to hurricane damaged St. Maarten

cbc news - Mon, 11/06/2017 - 17:44

Canadian travellers hoping to vacation in St. Maarten this winter will have to make alternative plans after hurricane damage forced several airlines to suspend service for the season.

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