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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 »

Canada new housing prices rise in 2017

Canada new housing prices rise in 2017

A new report from RE/Max forecasts the GTA’s average housing prices will rise eight per cent compared to Greater Vancouver’s two per cent in 2017. The average residential sale price increased 13 per cent in Greater Vancouver to approximately $1,020,300 and rose 17 per cent in the Greater Toronto Area (GTA) to an estimated $725,857. Although demand remains high in ... Read More »

Canadian existing home sales fall in June from month earlier, Report

Canadian existing home sales fall in June from month earlier, Report

Canadian home sales for the second month in a row, dropping 0.9% from May to June, but average prices rose 11.2% year-on-year to $503,301, the latest data shows. The Canadian Real Estate Association, the industry group representing realtors across the country, on Friday said existing-home sales fell 0.9% from May. Sales in Canada’s most closely watched areas of Vancouver and ... Read More »