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World’s second-largest diamond sells for $53 Million

World's second-largest diamond sells for $53 Million

The world’s second-biggest diamond has finally found a buyer. After failing to sell at a Sotheby’s auction last year, the 1,109-carat uncut stone has now fetched $53 million in a private sale to luxury jeweler Graff Diamonds. London-based jeweller Laurence Graff bought the Lesedi La Rona diamond, which was found in Botswana in 2015. The seller was the Canadian Lucara ... Read More »

Vibrator maker to pay out $3 million for tracking customer usage

Vibrator maker to pay out $3 million for tracking customer usage

We-Vibe, the vibrator manufacturer, has agreed to pay $3.75 million because their sex toys were tracking users’ sexual activity without their knowledge. After being spanked in the court case, We-Vibe has agreed to pay customers up to $10,000 each after its “smart vibrator” and the connected app was found to be secretly tracking owners’ use and recording metrics such as ... Read More »

Diamonds discovered for first time in Manitoba

Diamonds discovered for first time in Manitoba

Very small diamonds have been discovered in Manitoba, a first for the province, says a Winnipeg geologist. Mineral prospecting reports confirm the existence of diamond mining potential after Manitoba Geological Survey geologists and Lynx Consortium discovered diamonds for the first time in the province’s history. Read More »

New $240 million water tunnel to withstand quake now operational

New $240 million water tunnel to withstand quake now operational

Metro Vancouver has opened a new $240-million tunnel built under the Fraser River to ensure drinking water keeps flowing to Surrey and South-of-Fraser residents in the event of an earthquake. The Port Mann connection is one of the key links between Metro Vancouver’s watersheds and the communities south of the Fraser. Replacing this crossing was the first in a series ... Read More »

Canadian market extends record high, Report

Canadian market extends record high, Report

The TSX has seen four straight record closes and seven straight winning sessions as it continues to build on its post-election momentum. At the close in Toronto, the S&P/TSX Composite rose 0.37% to hit a new all time high. The best performers of the session on the S&P/TSX Composite were ProMetic Life Sciences Inc. (TO:PLI), which rose 8.47% or 0.200 ... Read More »

Payless reportedly in talks to close 1,000 stores: Report

Payless reportedly in talks to close 1,000 stores: Report

Payless Inc. is in talks with its lenders over a restructuring plan that includes closing about 1,000 stores as it wrestles with an unsustainable debt load, according to people with knowledge of the matter. According to “people with knowledge of the matter” who spoke to Bloomberg Markets, bankruptcy could be an option for the chain if lenders don’t allow it ... Read More »

HMV Canada to Shut Down All Stores

HMV Canada to Shut Down All Stores

HMV is shutting down all of its stores in Canada. According to legal documents obtained by the CBC, all remaining stores in Canada must cease operations by April 30. The majority of HMV Canada’s head office staff has been laid off, and the company owes its major suppliers, which include music labels and media studios, a reported $56 million as ... Read More »

Honda Canada plans $492 million investment in Ontario plant

Honda Canada plans $492 million investment in Ontario plant

Honda Canada Inc. will invest $492 million in its plant in Alliston, Ontario, the automaker said in an announcement in Monday which coincided with the long-awaited changes to the federal government’s automotive innovation fund. The new investment brings Honda’s total Canadian facilities investment to over $4.7 billion. In 1986, Honda became the first Japanese auto maker to build a manufacturing ... Read More »

De Beers abandons diamond search at the Western Athabasca Basin in Saskatchewan

De Beers abandons diamond search at the Western Athabasca Basin in Saskatchewan

De Beers Canada is ending an agreement with another company to hunt for diamonds at the Western Athabasca Basin in Saskatchewan. The world’s largest diamond mining company says it is walking away from its search for the precious stones on a 43,000-acre property in northern Saskatchewan after several “targets” turned out to be magnetic minerals mixed with organic materials. De ... Read More »

Many Canadians plan to spend less on holiday shopping, CIBC Poll

Many Canadians plan to spend less on holiday shopping, CIBC Poll

Canadians plan to spend less than last year this holiday season, yet more than half expect to go over budget. According to a new CIBC poll, Canadians will spend, on average, $567 during their holiday shopping, compared to $652 last year. “The danger comes from what’s not wrapped — the entertaining, travelling, or even tempting Boxing Day sales and New ... Read More »

Jollibee opens first restaurant in Canada

Jollibee opens first restaurant in Canada

Jollibee, known as the “McDonald’s of the Philippines,” will open its first Canadian store in the city on Thursday. Jollibee is famous for its signature crispylicious and juicylicious fried chicken, which is delicately breaded to be crispy on the outside, and its secret marinade makes it juicy inside. Kids love the Jolly Spaghetti’s signature sweet-style sauce, loaded with slices of ... Read More »