Canada & World

Canadian and international business news relevant to local business leaders here in Ottawa. Includes stories related to inflation, interest rates, employment, major government announcements and more.

Canadian cannabis, psychedelics industries cheer state measures in U.S. election

Gaining a U.S. toehold could be a step to reversing layoffs hitting cannabis companies, Canadian pot producers say.

Electricity subsidy for businesses part of Ontario’s pandemic-era budget

Starting Jan. 1, 2021, the change will see industrial businesses save 14% and commercial businesses save 16% on their average bill.

How Canadian businesses are navigating U.S. election uncertainty

The most vulnerable industries to the election results are those in the oil and gas, raw materials, agriculture and tech sectors that depend on or have heightened levels of interaction with the U.S.

Proposed Broadcasting Act changes may raise $800M from streaming services

Measures are meant to ensure online streaming platforms experiencing booming revenues face the same regulations as traditional broadcasters, which have seen profits decline in recent years.

Five Canadian business stories to watch this week

A preview of the national stories that will be making headlines in the days ahead.

Nokia profit up, new CEO pledges to boost 5G investments

New CEO says Nokia will do “whatever it takes” to achieve 5G leadership; plans reorganization of company into four business units.

Freeland says aid needed, but not infinite, as central bank targets 2022 for recovery

Central bank holds overnight rate target at 0.25%, which is where it will stay until the economy has recovered.

HBC sues landlord Oxford Properties Retail Holdings, claiming failure to run ‘first class’ malls

The retailer is seeking a declaration that it does not have to pay rent until the landlord fixes the issues

PM says budget update won’t have fiscal anchor, suggests one coming after crisis over

Trudeau said it would be premature to lock in a spending anchor while the country is still dealing with the pandemic.

Clothing retailer Le Chateau files for CCAA protection, plans to close its doors

Montreal-based retailer has spent much of the COVID-19 pandemic trying to refinance or sell its business to a third party that would keep it in operation.
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