Money

Nortel pension deal approved

Wednesday, March 31st, 2010 | 2:46 pm

Two groups representing former Nortel Networks employees say their members will have their health, pension and long-term disability benefits extended thanks to an agreement with the bankrupt company approved by Ontario Superior Court Wednesday.

A new $57-million agreement, reached on Monday,…

Labatt to close Lakeport plant

Wednesday, March 31st, 2010 | 2:45 pm

Labatt Breweries announced on Tuesday plans to close its Lakeport Brewery facilities in Hamilton, Ont., and lay off 143 workers.

It will shift all production of Lakeport beer to its southwestern Ontario operations in London effective April 30.

Labatt said it's a…

Quebec City dumps controversial marketing guru

Wednesday, March 31st, 2010 | 2:44 pm

Quebec City Mayor Regis Labeaume has cancelled a $300,000 contract with controversial French marketing consultant Clotaire Rapaille.

Labeaume said Monday the termination of the contract is due to reports published last weekend that New York-based Rapaille misrepresented himself in his resumé.

During…

Productivity must rise: Bank of Canada

Wednesday, March 31st, 2010 | 2:44 pm

Canadian business needs to do a better job of boosting productivity if it's to win market share in a rapidly evolving global economy, the Bank of Canada reiterated Monday.

Senior deputy governor Paul Jenkins told a Toronto business audience that emerging…

Honda to add 400 jobs in Ontario

Wednesday, March 31st, 2010 | 2:44 pm

Honda Canada Inc. announced plans Tuesday to add a second production shift to its Plant 2 facility in Alliston, Ont. — a move that would create 400 jobs in 2011.

The second shift, to be added early next year, will allow…

Bombardier nears Chinese lease financing deal

Wednesday, March 31st, 2010 | 2:44 pm

Montreal-based Bombardier Aerospace has taken a step closer to signing a deal with one of China's top aircraft leasing finance companies, the firm announced Tuesday.

Bombardier has signed a memorandum of understanding — essentially an agreement to do a deal in…

Saputo to close Brampton, Ont., plant

Wednesday, March 31st, 2010 | 2:44 pm

Montreal-based cheese maker Saputo Inc. announced plans Tuesday to close its milk and cream products plant in Brampton, Ont., by the end of October.

Saputo says about 190 employees will be affected but almost two-thirds of them — 120 people —…

Quebec budget takes aim at deficit: Bachand

Wednesday, March 31st, 2010 | 2:44 pm



Quebec's budget will be austere with limited spending to tackle the province's $5-billion deficit, warned finance minister Raymond Bachand.

He will roll out his fiscal plan for the province on Tuesday at the national assembly in Quebec City.

Bachand set a…

Bombardier nears China lease financing deal

Wednesday, March 31st, 2010 | 2:44 pm

Montreal-based Bombardier Aerospace has taken a step closer to signing a deal with one of China's top aircraft leasing finance companies, the firm announced Tuesday.

Bombardier has signed a memorandum of understanding — essentially an agreement to do a deal in…

Canadian reno tax credit boosted U.S. sales

Wednesday, March 31st, 2010 | 2:44 pm

A federal government program designed to stimulate the Canadian economy appears to have been a boon for home improvement retailers in the United States.

The $3 billion home renovation tax credit (HRTC) was introduced last year to help spur the economy…