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Wells Fargo shareholders disrupt meeting as fate of board members awaited

cbc news - Tue, 04/25/2017 - 12:06

Wells Fargo & Co.'s annual meeting turned raucous when it was repeatedly interrupted by angry shareholders on Tuesday as the bank's chairman and chief executive tried to calm nerves ahead of a vote that could oust the majority of its board.

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New Ontario rent control rules may prompt some condo owners to sell: report

cbc news - Tue, 04/25/2017 - 11:50

New rent control measures unveiled last week by the Ontario government could wind up pushing some small investors out of the condominium market, according to a new report.

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Nasty slice may have put golf balls in hash browns in U.S.

cbc news - Tue, 04/25/2017 - 11:44

The American division of McCain Foods is recalling several brands of frozen hash browns because they may be contaminated with "extraneous golf ball materials."

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Canadian dollar falls in face of U.S. softwood lumber duties

cbc news - Tue, 04/25/2017 - 10:45

The value of the Canadian dollar tumbled on Tuesday morning after news that countervailing duties of up to 24 per cent will be placed on Canadian lumber exports to the U.S.

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Great-West Lifeco to lay off 13% of its Canadian workforce

cbc news - Tue, 04/25/2017 - 08:27

Insurance conglomerate Great-West Lifeco plans to lay off 1,500 Canadian workers this year and next year as part of a cost-cutting plan.

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'Get lined up': Alberta gas producer's demise leaves long list of creditors and costly messes

cbc news - Tue, 04/25/2017 - 05:00

Lexin Resources leaves behind more than 1,500 wells to be sold or cleaned and a list of debt that adds up to millions of dollars. So who will be left with the bill?

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Basic income finds support on right as 'most transparent' form of redistribution

cbc news - Tue, 04/25/2017 - 05:00

One might assume that the Ontario Liberal government's pilot project to provide a guaranteed basic income would be roundly dismissed by those on the political and economic right as yet another government-led social welfare scheme doomed to failure. But the policy has adherents among some free-market economists and libertarian thinkers.

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U.S. imposes preliminary duties up to 24% on 'subsidized' Canadian softwood lumber

cbc news - Mon, 04/24/2017 - 21:03

Canada's forest industry felt the slap of the countervailing duties they were bracing for late Monday, with confirmation out of Washington that a U.S. Commerce Department investigation has once again concluded that softwood lumber imports are unfairly subsidized. Canadian imports face new duties ranging from three to 24 per cent.

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Barrick Gold sees profits rise in quarter but misses analyst expectations

cbc news - Mon, 04/24/2017 - 17:57

Barrick Gold's first quarter results fell short of expectations despite swinging to a profit of $679 million US compared to a net loss of $83 million US in the same quarter last year.

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CN raises 2017 outlook on record Q1 volumes, helped by higher grain

cbc news - Mon, 04/24/2017 - 17:02

Canadian National Railway raised its outlook for the year after profits increased 12 per cent on record first-quarter volumes, helped by an increase in Western Canadian grain.

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Creditors over environment: Alberta Court of Appeal upholds Redwater Energy decision

cbc news - Mon, 04/24/2017 - 16:11

The Alberta Court of Appeal has upheld the Redwater Energy decision, which ruled that creditors have priority over environmental clean-up in the case of an energy company bankruptcy.

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Car rental companies agree to pay $1.25M penalty for advertising impossible discounts

cbc news - Mon, 04/24/2017 - 15:47

Two of Canada's largest car rental companies have agreed to pay $1.25 million in penalties for falsely advertising discount prices that are essentially impossible to obtain.

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Capital markets not a place for 2nd chances, OSC lawyers tell Drabinsky hearing

cbc news - Mon, 04/24/2017 - 13:32

Lawyers for Ontario's securities regulator said today in their closing statements that Garth Drabinsky, who defrauded investors of an estimated $500 million, should not be allowed to participate in the capital markets.

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U.S. Supreme Court rejects GM appeal to block ignition switch lawsuits

cbc news - Mon, 04/24/2017 - 12:14

The United States Supreme Court has turned away an appeal from General Motors Co. seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims.

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Home Capital says founder Gerald Soloway to leave board, CFO to change role

cbc news - Mon, 04/24/2017 - 11:34

Home Capital Group Inc. said Monday that two people named in an Ontario Securities Commission action against the company will be moving out of their roles.

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After 4 straight gains, Canadian wholesale trade ticks down to $58.9B in February

cbc news - Mon, 04/24/2017 - 11:15

Wholesale trade between Canadian businesses inched down by 0.2 per cent to $58.9 billion in February, a step back after four straight months of gains.

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Transaction declined: The sad saga of North Korea's ATMs

cbc news - Mon, 04/24/2017 - 08:59

New automated teller machines at Pyongyang's Sunan International Airport don't dispense North Korean currency. Employees of Ryugyong Commercial Bank blame Chinese sanctions.

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Financial markets higher after French centrist Macron comes out on top

cbc news - Mon, 04/24/2017 - 08:44

U.S. stocks joined a worldwide rally Monday morning after election results in France over the weekend raised expectations that the European Union and euro currency will remain intact.

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