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Business News Summary Headlines

Company releases, economic news, and business coverage.

SNC-Lavalin reaches agreement to repay Quebec municipalities for contracts

MONTREAL - Engineering giant SNC-Lavalin has reached agreement to pay restitution to seven Quebec municipalities for obtaining contracts through questionable means.

Neil Bruce, CEO of the Montreal-based engineering and construction firm, says the settlements under the province's voluntary reimbursement program are "final and fair."

Monday, December 11, 2017 | 11:02 AM

Canadian Solar CEO seeks to take it private in cash deal, board considering

GUELPH, Ont. - Shares in Canadian Solar Inc. rose Monday after the company revealed it has received a non-binding takeover offer from its chairman, Shawn (Xiaohua) Qu, who is also CEO and president.

Qu is tentatively offering US$18.47 in cash for each share not already owned by him and his wife Hanbing Zhang, who together have about 23.5 per cent of Canadian Solar's stock.

Monday, December 11, 2017 | 10:56 AM

Fingerlings propel Montreal-based company to Christmas retail success

MONTREAL - Just like for a Christmas cookie, there's a recipe that goes into the making of a best-selling toy.

Each year, toymakers hope they've found the perfect balance of technology, whimsy and price to appeal to children and their parents alike, sending their products racing to the top of the coveted "Hot Toy" lists.

Monday, December 11, 2017 | 10:32 AM

Feds, provinces cautiously optimistic they can reach revenue-sharing deal on pot

OTTAWA - The country's finance ministers are cautiously optimistic a deal can be reached Monday on how to divvy up the tax proceeds from the eventual sale of legalized marijuana.

Provincial and territorial finance ministers met in Ottawa for a second day to discuss a range of issues but the dominant topic has been negotiations on how they will share revenue from a federal excise tax on recreational cannabis.

Monday, December 11, 2017 | 10:31 AM

Batali steps down after sexual misconduct allegations

NEW YORK - Mario Batali is stepping down from daily operations at his restaurant empire following reports of sexual misconduct by the celebrity chef over a period of at least 20 years.

The online site Eater New York reported Monday that the incidents involve at least four women, three who worked for Batali. In a prepared statement sent to The Associated Press, Batali said the complaints match up with his past behaviour.

Monday, December 11, 2017 | 10:25 AM

Will misconduct scandals make men wary of women at work?

NEW YORK - Some women, and men, worry the same climate that's emboldening women to speak up about sexual misconduct could backfire by making some men wary of female colleagues.

Forget private meetings and get-to-know-you dinners. Beware of banter. Think twice before a high-ranking man mentors a young female staffer.

Monday, December 11, 2017 | 09:48 AM

Bill Morneau insists federal government still has no plans for a Netflix tax

OTTAWA - Finance Minister Bill Morneau says the federal government still has no intention of imposing a Netflix tax because it would result in a financial hit for middle-class Canadians.

Morneau's remarks about the online streaming giant come a couple of days after Heritage Minister Melanie Joly insisted she never agreed to exempt Netflix from any sales tax as part of a deal that has been a political nightmare in her home province of Quebec.

Monday, December 11, 2017 | 08:59 AM

Swiss group says it's out of the running for Montreal's Just For Laughs

MONTREAL - Swiss-based GF Productions says it's out of the running in the ongoing bidding for Just For Laughs.

The company behind the Montreux Comedy Festival says it has signed a confidentiality agreement with the financial institution mandated to deal with the sale of Montreal entertainment company and will let it know they are bowing out.

Monday, December 11, 2017 | 08:55 AM

Canadians swindled out of $1.7M via cryptocurrency scams this year to date

TORONTO - Canadians have been swindled out of than $1.7 million via scams involving cryptocurrencies such as bitcoin so far this year more than double the amount during all of 2016.

The Canadian Anti-Fraud Centre says that's more than five times the amount people lost to these types of scams in 2015, which was roughly $284,000.

Monday, December 11, 2017 | 08:45 AM

B.C.'s Premier John Horgan to announce decision on Site C hydroelectric dam

VICTORIA - British Columbia Premier John Horgan will be giving his government's decision on the future of the controversial Site C hydroelectric dam this morning.

The New Democrat government has been debating whether to continue the construction of the $8.3-billion dam or cancel the work midway through the job.

Monday, December 11, 2017 | 08:45 AM