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Mainstream Business News

RBC hikes dividend as it reports flat first quarter profit of $3 billion

By Armina Ligaya THE CANADIAN PRESS TORONTO- The Royal Bank of Canada hiked its dividend and delivered flat profits in the first quarter, as new U.S. tax reforms weighed on its latest earnings but also boosted the bank’s business south of the border. The Toronto-based lender increased its quarterly payment ...

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Milan Fashion Week opens with #metoo moment of reflection

By Colleen Barry THE ASSOCIATED PRESS Milan Fashion Week got underway Wednesday with a moment’s pause to put focus on women who have come forward as victims of sexual misconduct. Ambra Battilana Gutierrez, who accused Harvey Weinstein of groping her in 2015 and worked with investigators on a sting targeting ...

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Hudbay Minerals Inc. swings to higher profits and revenue in latest quarter

TORONTO – Hudbay Minerals Inc. has reported that it profits and revenue rose in the latest quarter, as the miner saw an increase in cash flow due to higher realized copper and zinc prices.   The Canadian metals and mining company reported net income for the quarter ended Dec. 31 ...

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New mortgage rules sending borrowers down the credit ladder to alt. lenders 

By Armina Ligaya THE CANADIAN PRESS TORONTO -Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance. As a ...

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Suncor Energy says driverless trucks will eliminate a net 400 positions

By Dan Healing THE CANADIAN PRESS CALGARY- About 400 jobs are expected to disappear at Suncor Energy Inc.’s oilsands mines in northern Alberta as it deploys driverless ore-hauling trucks to replace the ones humans operate now. “We have about 500 roles that will get eliminated through this and we’re going ...

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Legal marijuana shops could boost nearby properties: experts, study

TORONTO- While Ontario landlords are looking to ban marijuana use in their rental units and several municipalities don’t want legal cannabis stores in their neighbourhoods, experts and a U.S. study suggest that recreational pot could lift property values. Property prices for homes in Denver near shops which converted from medical ...

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Rising interest rates could negatively impact Ontario’s economy:Report

Rising interest rates could n THE CANADIAN PRESS TORONTO- Rising interest rates could have a “significant” impact on Ontario’s economy as the already ballooning household debt is projected to continue to grow, warns the province’s fiscal watchdog. The Financial Accountability Office said in a report released Tuesday that an average Ontario ...

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Bank of Canada hikes interest rate on strong economy, but underlines NAFTA risks 

By Andy Blatchford THE CANADIAN PRESS OTTAWA- The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer, but looking ahead it warned of growing uncertainties about NAFTA. The central bank pointed to unexpectedly solid economic numbers as ...

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