Saturday , 18 February 2017
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Sumner Redstone Competency Trial Brings Soap Opera to Courtroom, Report

Sumner Redstone Competency Trial Brings Soap Opera to Courtroom, Report

A legal challenge over media mogul Sumner Redstone’s mental competency goes to trial in Los Angeles on Friday. The outcome will have implications far beyond the small Los Angeles courtroom where the trial will examine Redstone’s mind and the inner workings of his mansion in recent months. The 92-year-old through his company National Amusements controls CBS Corp. and Viacom Inc., ... Read More »

Canadian bank fined $1.1 million by anti-money laundering agency, Report

Canadian bank fined $1.1 million by anti-money laundering agency

The federal agency responsible for monitoring money laundering across the country said that it has fined a Canadian bank more than $1.1-million for failing to report a suspicious transaction, a hefty penalty that is designed to send a message of deterrence in the financial sector. The Financial Transactions and Reports Analysis Centre of Canada, or FINTRAC, published an overview of ... Read More »

Cara Operations to Buy Restaurant Chain St-Hubert, Report

Cara Operations to Buy Restaurant Chain St-Hubert, Report

Cara to buy the Quebec-based fast-food rotisserie chicken chain for C$537 million. Cara Operations Limited, the Ontario-based company that owns restaurant brands like Swiss Chalet, Kelsey’s Neighbourhood Bar & Grill, Harvey’s, Milestones Grill and Bar, and Montana’s Cookhouse, purchased Quebec’s iconic St-Hubert chicken brand today for just over half a billion dollars. The Wall Street Journal reports that the juggernaut ... Read More »

CRTC Approves Corus Entertainment’s Acquisition of Shaw Media, Report

CRTC Approves Corus Entertainment’s Acquisition of Shaw Media, Report

The federal broadcast regulator has cleared the way for Corus Entertainment Inc.’s $2.65-billion acquisition of Shaw Media, removing the final obstacle to a deal that endured a public dissection at the hands of shareholders. “We are very pleased with the CRTC’s decision to approve the acquisition of Shaw Media by Corus Entertainment,” said Doug Murphy, President and Chief Executive Officer, ... Read More »

Sherwin-Williams buying rival Valspar for about $11.3 billion, Report

Sherwin-Williams buying rival Valspar for about $11.3 billion, Report

Paint maker Sherwin-Williams has agreed to acquire coatings supplier Valspar in an all-cash deal valued at $11.3 billion that is expected to help its international expansion. The two companies appear to understand the potential hurdles they face from antitrust concerns and have included in the agreement a drop in the price Sherwin-Williams will pay depending on demands from regulators for ... Read More »

Canadian household debt soars to yet another record, Report

Canadian household debt soars to yet another record, Report

Canadians ended 2015 with a record-high debt burden, as low interest rates and still-soaring regional housing markets fuelled the fastest year of household debt growth since 2011. Household sector net worth at market value rose 1.6% in the fourth quarter to $9,479 billion. On a per capita basis, household net worth was $263,200, up 1.5% from the previous quarter. Financial ... Read More »

Brink employee accused of stealing $200000 in quarters

Brink employee accused of stealing $200000 in quarters

A former Brink’s employee is facing a bank theft charge after being accused of taking $200,000 worth of quarters in early 2014. According to the Department of Justice, the 49-year-old man from Alabama is accused of taking the coins while he was working as a money processing manager. “What [the suspect] may have thought was a nickel and dime theft ... Read More »

Danier Leather starts store closing sales, Report

Danier Leather starts store closing sales, Report

Danier Leather will begin selling off its remaining inventory today at its 76 stores across Canada. The company, which sells leather clothing and accessories, entered insolvency proceedings in February after losing almost $20 million in 2015. “Because of the compelling discounts and highly desirable assortment of merchandise, we expect this will be a short sale,” the companies conducting the shut ... Read More »

Vancouver property sells for $1 million over its asking price

Vancouver property sells for $1 million over its asking price

A four-bedroom home in Point Grey, with a stunning view of downtown Vancouver and the North Shore mountains, has sold for more than $1 million above its asking price after just a couple days on the market. The 88-year-old home at 4655 Bellevue Drive sold for just over $9 million. It was listed at $7.888 million. Realtor Bo Park said ... Read More »

Amisk Hydroelectric Project–environmental assessment referred to review panel, Report

Amisk Hydroelectric Project--environmental assessment referred to review panel, Report

The Minister of Environment and Climate Change, the Honourable Catherine McKenna, today announced the referral of the environmental assessment of the proposed Amisk Hydroelectric Project in Alberta to an independent review panel. The decision to refer the environmental assessment of the project to a review panel was made after considering its potential to cause significant adverse environmental effects and concerns ... Read More »