Business News Summary Headlines

Company releases, economic news, and business coverage.

Hearing on Toronto's short-term rentals rules set to wrap Tuesday

TORONTO - A hearing on the future of Toronto's rules covering short-term rentals like Airbnb is set to wrap up Tuesday.

The hearing at the Local Planning Appeal Tribunal has squared city lawyers against several property owners who appealed the city's recently amendedshort-term rental bylaw.

Tuesday, October 15, 2019 | 04:28 PM

Shares of Aphria jump as cannabis company reports $16.4M Q1 profit

Shares of Aphria Inc. jumped by as much as 18 per cent as the cannabis company reported a profit of $16.4 million in its latest quarter — its second consecutive quarter of profitable growth.

The Leamington, Ont.-based pot producer's stock closed at $7.17 on Tuesday afternoon on the Toronto Stock Exchange, up roughly 15.5 per cent, after reaching as high as $7.33 earlier in the day.

Tuesday, October 15, 2019 | 04:08 PM

GM CEO Barra joins talks; deal to end strike may be near

DETROIT - General Motors CEO Mary Barra joined negotiators at the bargaining table, an indication that a deal may be near to end a monthlong strike by the United Auto Workers union that has paralyzed the company's factories.

Barra and GM President Mark Reuss were in the bargaining room early Tuesday, a person briefed on the talks said, but they left later in the morning as committees began work on specific contract language. The person didn't want to be identified because the talks are confidential.

Tuesday, October 15, 2019 | 01:30 PM

CREA reports home sales in September up 15.5 per cent from year ago

OTTAWA - Home sales in Canada's big cities continued a rebound in September with a 15.5 per cent increase in sales compared with a year ago, according to the Canadian Real Estate Association.

The association said Tuesday that sales compared with a year ago were up in Canada's large urban markets, including B.C.'s Lower Mainland, Calgary, Edmonton, Winnipeg, the Greater Toronto Area, Hamilton-Burlington, Ottawa and Montreal, while data showed markets were still in balanced territory.

Tuesday, October 15, 2019 | 01:23 PM

Aimia's largest investor says dissident shareholders' board picks 'well-suited'

Aimia Inc.'s largest investor is expressing tentative support for board nominees put forward by dissident shareholders amidst an ongoing civil war at the loyalty company.

The nominees are "qualified and well-suited" based on an initial review, Mittleman Brothers LLC said in a statement Tuesday. It will "seek to engage" with them as soon as the rebellious shareholders' information circular is mailed in order to hear their ideas, share its own views and determine how much support it might grant them.

Tuesday, October 15, 2019 | 12:08 PM

Meal kits vary, so do your research before signing up for a subscription

When nutritionist Lonie Murdock started prepared meal service Eat Train Live in 2015, she had few competitors in the Toronto market.

But in the last few years, she's noticed new prepared meal or meal kit services springing up constantly.

Tuesday, October 15, 2019 | 10:53 AM

IMF downgrades outlook for world economy; 2019 estimate for Canada unchanged

WASHINGTON - The International Monetary Fund is further downgrading its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis primarily because of widening global conflicts.

The IMF's latest World Economic Outlook foresees a slight rebound in 2020 but warns of threats ranging from heightened political tensions in the Middle East to the threat that the United States and China will fail to prevent their trade war from escalating.

Tuesday, October 15, 2019 | 10:03 AM

Alamos shares fall after work stops at project in Turkey due to concession delay

TORONTO - Shares in Alamos Gold Inc. fell in early trading after the company said it has stopped construction on its Kirazli project pending the renewal of its Turkish mining concessions.

The company says the concessions expired on Oct. 13 and work cannot resume until they are renewed.

Tuesday, October 15, 2019 | 10:01 AM

Ahead of 2020, FB ensnared in heated political climate

Mark Zuckerberg defended meetings he's reportedly had with conservative leaders after #DeleteFacebook began trending on social media.

Politico reported this week that the Facebook CEO held private meetings with, among others, Fox News' Tucker Carlson and conservative radio host Hugh Hewitt.

Tuesday, October 15, 2019 | 09:40 AM

Ecuador crisis weakens president, strengthens indigenous

QUITO, Ecuador - Thousands of indigenous demonstrators, student volunteers and local residents launched a mass cleanup Monday of a Quito park where anti-austerity protesters fought police for days, leaving piles of burning tires, trees and construction material.

President Lenín Moreno signed a new decree returning gas prices to traditionally low, subsidized levels a day after striking a deal to cancel a disputed austerity package and end nearly two weeks of protests that paralyzed the Ecuadorian economy and left seven dead.

Monday, October 14, 2019 | 09:41 PM