Category: Canada

Vancouver’s foreign buyer tax sparked Chinese interest in rest of Canada, report finds

TChinese enquiries of the listings in the Vancouver real estate market slumped by 81 per cent year-over-year in July 2016, the month the city’s 15 per cent foreign buyers tax tax was announced, according to a new report from Sotheby’s and Juwai.com. Chinese property enquiries in several big Canada markets spiked in the months after Vancouver introduced its foreign buyers tax, according to a report based on data culled from searches on a top Chinese foreign property website.

Yen Gains, Topix Falls on Korean Missile Report: Markets Wrap

U.S. stock futures were also lower as Japan Prime Minister Shinzo Abe said the government will hold a National Security Council meeting today after North Korea fired four ballistic missiles. The move comes as South Korea and the U.S. undertake annual military drills that Pyongyang has called a prelude to an invasion. Tensions have been rising over North Korea, which also conducted a missile test during Abe’s state visit to the U.S. last month and is suspected of being behind the assassination of its leader’s half brother in Malaysia.

Yen Gains, Topix Falls on Korean Missile Report: Markets Wrap

U.S. stock futures were also lower as Japan Prime Minister Shinzo Abe said the government will hold a National Security Council meeting today after North Korea fired four ballistic missiles. The move comes as South Korea and the U.S. undertake annual military drills that Pyongyang has called a prelude to an invasion. Tensions have been rising over North Korea, which also conducted a missile test during Abe’s state visit to the U.S. last month and is suspected of being behind the assassination of its leader’s half brother in Malaysia.

Is the Ivanka Trump brand boycott anti-feminist?

Ivanka Trump shouldn’t be punished for her father’s actions, say some critics of the movement to boycott her products. Sophia Harris has worked as a CBC video journalist across the country, covering everything from the start of the annual lobster fishery in Yarmouth, N.S., to potash prices in Saskatchewan.

North America’s Biggest Auto-Parts Maker Sees Border Tax Danger

North America’s largest auto parts maker said a border adjustment tax being studied by President Donald Trump would probably hurt the automobile industry, while also increasing the odds that future factories will be located in the U.S. Canada’s Magna International Inc. said the growth of “protectionist sentiments” could hurt its operations and profitability, according to a company statement Friday. The manufacturer is closely watching a potential tax overhaul in the U.S., Chief Executive Don Walker said on a conference call with analysts and investors.

CRTC hearing to tackle costly and hard-to-control cellphone charges

The current wireless code didn’t help cellphone customer Rosemary Pick, who got dinged for about $1,700 in data overage charges when her son approved exceeding the cap without her knowledge. Sophia Harris has worked as a CBC video journalist across the country, covering everything from the start of the annual lobster fishery in Yarmouth, N.S., to potash prices in Saskatchewan.

Canadian Pacific accelerates CEO’s retirement

Canadian Pacific Railway Ltd. is accelerating the retirement of CEO Hunter Harrison by about six months after he inquired about the possibility of working with other major freight railroads. The Calgary, Alberta, railroad said Wednesday that Harrison will forfeit roughly 118 million Canadian dollars in stock options and pension benefits as part of a separation agreement.

Internal document raises possibility of ‘Netflix tax’

A briefing note for MA lanie Joly, minister of Canadian Heritage, weighs the pros and cons of enforcing a sales tax on the digital services of foreign companies such as Netflix. The Liberal government is reviewing whether to enforce a so-called Netflix tax on the digital services Canadians buy from foreign-based firms over the internet.

DIARY-Top Economic Events to Feb. 22

Canadian Finance Minister Bill Morneau will meet with Canada’s leading private sector economists to gather their views on the Canadian and world economies – 1500 GMT. WASHINGTON – Federal Reserve Board Chair Janet Yellen will host a townhall meeting with educators from across the Country United States – 0000 GMT.

Valeant Sells $2.1 Billion in Assets to Ease Debt Burden

Valeant Pharmaceuticals International Inc. agreed to sell about $2.1 billion in assets in two deals, an important first step in the struggling drugmaker’s endeavor to get cash and begin easing its debt burden. L’Oreal SA, the Paris-based cosmetic giant, will pay Valeant $1.3 billion for three skin-care brands, according to a statement Tuesday.

Valeant to Sell $2.1 Billion in Assets to Pay Down Debt

Valeant Pharmaceuticals International Inc. agreed to sell about $2.1 billion in assets as the embattled Canadian drugmaker seeks to streamline its businesses and ease its debt burden. L’Oreal SA will pay Valeant $1.3 billion for three skincare brands, the Paris-based company Tuesday said in a statement.

TD Leads Canadian Stock Sales as Energy Deals Fuel Record Year

Toronto-Dominion Bank took top spot for managing Canadian stock sales in 2016 as large energy deals led by pipeline operator TransCanada Corp. helped set a record for equity financings. The amount raised from initial public offerings, secondary sales and equity-linked securities reached C$50.4 billion , up 17 percent from 2015, according to data compiled by Bloomberg.

BlackBerry Opens Site to Shore Up Self-Driving Car Research

BlackBerry Ltd. and Canada are opening a research center for self-driving cars that raises the possibility of government backing for the former smartphone maker’s automotive software unit. Chief Executive Officer John Chen and Prime Minister Justin Trudeau announced the center at QNX’s headquarters near Ottawa, Ontario, where it will be based.