Money

Saputo is closing three of its facilities in eastern Canada. The move, which the company says is to improve operational efficiency, means 230 jobs will go in Ottawa, Ontario; Sydney, Nova Scotia; and Princeville, Québec.

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 …

Alberta’s soaring unemployment rate climbed higher than Quebec’s last month, the first time that’s happened in nearly 30 years. Alberta’s February unemployment rate is up half a percentage point to 7.9 per cent as we continue to see the fallout from low oil prices.

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 …

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 …

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 …

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 …

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 …

Oil futures enjoyed their best one-day rally on Friday. West Texas Intermediate crude jumped more than 12% as a major oil producer again raised the possibility of a coordinated cut in crude output. Despite the gain, oil prices were poised to end the week down with significant losses. But WTI settled up more than 12 percent, for the best one-day …

Hasbro and Mattel are in ongoing discussions about a potential merger; one that could create one of the largest toy companies in the world. The companies shares jumped after it was reported Hasbro approached Mattel about a potential transaction late last year, with the companies since holding on-and-off talks about a potential.

Legalizing marijuana in Canada could create a $10 billion a year industry, according to a new report released by CIBC World Markets. Using Colorado’s legalization experience as a financial model, economists say Canada’s marijuana market could become much larger than earlier predictions of $3 billion annually.