Business

Inflation unexpectedly accelerates as Canadians pay 28% more for airfares, 15% more for vegetables

Canadians paid 14.9 per cent more for fresh vegetables.Postmedia News OTTAWA — Canada’s annual inflation rate accelerated to two per cent last month as higher costs for airfares and fresh vegetables offset cheaper prices at the pump, Statistics Canada said Friday. Year-over-year prices picked up their pace in December after inflation was just 1.7 per […]

Business

Top-performing hedge fund is shorting Canadian banks on all the usual suspects — and something even more worrying

"Canadian banks will be left holding the bag and the ones to suffer from what is likely to be a major economic recession," Tavi Costa, a global macro analyst at Denver-based Crescat, says.Canadian Press/Tijana Martin A small U.S. hedge fund that was a top performer last year is shorting Canadian banks. Crescat Capital sees the […]

Business

B.C.’s money laundering problem may involve billions of dollars, documents say

Attorney General David Eby says information gaps between governments are allowing organized crime to thrive.Chad Hipolito/The Canadian Press VICTORIA — Documents that say money laundering in British Columbia now reaches into the billions of dollars are startling to the province’s attorney general who says the figures have finally drawn the attention of the federal government. […]

Business

Amazon knows what you buy, and it’s built a $125-billion dollar ad business off it that’s a marketer’s dream

Ads sold by Amazon, once a limited offering at the company, can now be considered a third major pillar of its business, along with e-commerce and cloud computing.Jason Alden/Bloomberg SEATTLE — When a chain of physical therapy centres wanted new patients, it aimed online ads at people near its offices who had bought knee braces […]

Business

Deciem founder Brandon Truaxe dead at 40

Deciem founder Brandon Truaxe is shown in this undated handout photo posted to Instagram. Truaxe has passed away at age 40.Handout/The Canadian Press TORONTO — The chief operating officer of Toronto beauty brand Deciem says the company’s founder Brandon Truaxe has died. In an email to The Canadian Press, Stephen Kaplan confirmed that 40-year-old Truaxe, […]

Business

Canadian meat giant Maple Leaf debuts its new plant-based burger

Maple Leaf Foods has high expectations for its new plant-based burger.Robyn Beck/AFP Watch out, Impossible. Beware, Beyond. A new competitor is entering the plant-based burger market. Lightlife Foods, the brand behind Gimme Lean meatless “beef,” Tofu Pups hot dogs, Organic Fakin’ Bacon Tempeh Strips and other vegetarian staples, is joining the looks-like, cooks-like, smells-like, tastes-like-the-real-thing veggie burger fray. The […]

Business

Eddie Lampert sweetens bid to keep Sears open to more than $5 billion

Signage is displayed outside of a Sears Holdings Corp. store in San Bruno, California.David Paul Morris/Bloomberg Eddie Lampert’s ESL Investments is sweetening its offer to keep Sears Holdings Corp. in business, outlining a US$5-billion plan to buy the retailer out of bankruptcy. The new bid, about US$600 million more than Lampert previously offered, should satisfy […]

Business

Tim Hortons’ parent hikes dividend and makes changes to management

Burger King and Tim Hortons' parent Restaurant Brands International Inc. raised its dividend as it announced changes in its executive suite.Canadian Press/Sean Kilpatrick / THE CANADIAN PRESS TORONTO — The parent company of Tim Hortons and other fast food chains doubled down on its plans for fast international expansion, shaking up its executive suite in […]