TD Bank Group, which is mired in a money-laundering scandal in the U.S., said Raymond Chun will replace chief executive Bharat Masrani, who is retiring next year. Chun, who stepped into the role of head of Canadian personal banking last December, will become chief operating officer on Nov. 1 before taking over the top job … Read more
The massive electric vehicle battery plant in southwestern Ontario should produce its first module this month as the project looks to hire another 200 employees before the end of the year. Windsor’s NextStar Energy plant, expected to be the first facility of its kind to begin production in Canada, will eventually employ 2,500 people and spur a supply … Read more
Hundreds of workers are facing an uncertain future after logging giant Canfor announced Wednesday it would close its sawmills in Vanderhoof and Fort St. John, B.C., by the end of the year. It’s the latest blow to the beleaguered B.C. forestry sector, which has seen a wave of mill closures over the last few years. Last … Read more
China has submitted a request to Canada for consultation at the World Trade Organization on additional tariffs it has imposed on Chinese electric vehicles as well as steel and aluminum products, the Commerce Ministry said on Friday. “On Sept. 6, China lodged a request for consultations with Canada at the WTO regarding Canada’s additional tariffs … Read more
Hotter summers in Canada that have sparked wildfires in tourist areas, intense hailstorms and thunderstorms with severe flooding in major cities, all likely linked to climate change, are leading to personnel shortages and potentially claims adjustment delays, according to insurance sector insiders. The industry depends on teams of insurance adjusters to look into claims and … Read more
Alberta is putting itself in the race for a slice of the soaring growth of data centres in North America. A pair of Alberta cabinet ministers set off for Silicon Valley last week with the sole focus of promoting the province as a “prime location” to build the physical structures that store and process our digital information. Major … Read more
The U.S. is dramatically increasing the duty it charges on softwood lumber imports from Canada, setting the rate at 14.54 per cent. The previous duty was 8.05 per cent. The new rate was shared with trade groups and government officials on Tuesday, but was not immediately posted to the U.S. Federal Register. In a written statement, Mary Ng, … Read more
Prime Minister Justin Trudeau named two new senators on Saturday, with broadcaster Charles Adler and health-care executive Tracy Muggli joining the ranks of members of Canada’s upper legislative chamber. “The Senate of Canada will be stronger with its newest independent senators. Mr. Adler and Ms. Muggli will put their vast experience and knowledge to work for all Canadians in their … Read more
Léa Paquette’s graduation gala in April was awkward to say the least. Recent 3D-animation graduates dressed to the nines, mingled in a room of industry professionals in downtown Montreal, exchanging LinkedIn profiles and polite smiles while everyone desperately tried to ignore the CGI elephant in the room: there’s no work. When they got into school, … Read more
Extreme weather events like fires, floods, heat waves and droughts pose an increasing risk to Canada’s food supply chain, putting pressure on prices all the way to the grocery store shelf, say experts. “Anytime you have major weather-related events, it tends to increase costs,” said Frank Scali, vice-president of industry affairs at Food, Health & … Read more
