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Hudson's Bay says it's not just a retailer, but a hangout for shoppers

The Canadian PressJune 19, 2013 17:30

TORONTO - Hudson's Bay Co. says the only way its business will continue to thrive is for it to move away from being seen as just a department store. "We believe we need to be in more than the business of selling commodity items," chief executive Richard Baker said at the company's annual general meeting Wednesday. "We're in the entertainment business. We don't just offer products. We deliver an experience." Baker said Hudson's Bay (TSX:HBC) is focused on being a destination for shoppers but also a place where people can come and hang out.

Liberal MP, former leader Bob Rae stepping down to focus on First Nations

The Canadian PressJune 19, 2013 12:01

OTTAWA - Bob Rae, a fixture on Canada's political scene for more than three decades, is giving up his seat in the House of Commons to devote himself to another of his Canadian passions: working on behalf of First Nations. The Toronto Liberal MP and one-time Ontario premier announced Wednesday he's leaving politics so he can focus on his new role: chief negotiator for the Matawa Tribal Council in talks with the province about development of the Ring of Fire mining project in northern Ontario.

Most actively traded companies on the TSX, TSX Venture Exchange markets

The Canadian PressJune 19, 2013 18:33

TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (12,268.29 down 99.17 points): Bombardier Inc. (TSX:BBD.B). Plane and train maker. Up seven cents, or 1.54 per cent, at $4.63 on 8.97 million shares. Bombardier won an order from Nigerian carrier Arik Air for seven commercial aircraft valued at US$297 million. B2Gold Corp. (TSX:BTO). Miner. Up a penny, or 0.42 per cent, at $2.41 on 7.36 million shares.

Metis buzzing about possible return of bell of Batoche, missing over 20 years

The Canadian PressJune 19, 2013 13:05

WINNIPEG - It looks like a significant piece of Canadian Metis history will soon be returned to public view after disappearing more than 20 years ago. But one of the country's top Metis leaders is not excited that the bell of Batoche may finally be brought back to its home in Saskatchewan. David Chartrand, president of the Manitoba Metis Federation, says the historical significance of the bell has been tarnished by those who have held it for the last two decades and tried to sell it to the highest bidder.

Loblaw tests out new smaller discount grocery store format in Calgary

The Canadian PressJune 19, 2013 12:31

Canada's largest grocer is trying out a new discount small-store format in a bid to attract more customers in urban areas. Loblaw Cos. Ltd. (TSX:L) said it opened the new 10,000-square foot store a few weeks ago in Calgary. The location, named Box by No Frills, offers "hard discounts and an everyday low price" on groceries and other merchandise, Sarah Davis, Loblaw's chief financial officer said in a conference call Wednesday.

NDP proposes independent scrutiny of MP expenses after killing Liberal proposal

The Canadian PressJune 18, 2013 15:31

OTTAWA - One week after defeating Liberal Leader Justin Trudeau's attempt to open MPs' expenses to public scrutiny, the NDP has won approval for a proposal of its own. New Democrat MP Peter Julian won unanimous consent late Tuesday for a motion aimed at creating an independent body to oversee House of Commons spending, including MPs' expenses. The new oversight body would replace the secretive board of internal economy, a multi-party committee that is currently responsible for the financial administration of the Commons.

TSX advances, traders hope Fed meeting will shed light on future of stimulus

The Canadian PressJune 18, 2013 09:02

TORONTO - The Toronto stock market was higher Tuesday as traders hope a two-day meeting of the U.S. Federal Reserve will yield some guidance on the future of the central bank's stimulus measures. The S The Canadian dollar was lower amid a stronger greenback, down 0.29 of a cent to 97.97 cents US. U.S. indexes were also higher as traders also looked to data showing that U.S. builders began construction on more single-family homes and apartments in May.

U.S. hedge fund increases its ownership stake in Tim Hortons to 5.5%

The Canadian PressJune 18, 2013 14:30

TORONTO - A New-York based hedge fund is putting pressure on Tim Hortons Inc. (TSX:THI) to make changes to boost profitability just months after it got a similar request from another U.S. investor. Scout Capital Management has upped its ownership stake in the Canadian restaurant chain to 5.5 per cent, according to documents filed Monday with the U.S. Securities and Exchange Commission. The hedge fund had a 1.48 per cent stake in the coffee and doughnut chain at the end of March.

Loonie down, U.S. dollar up , traders hope for stimulus clarity from Fed meeting

The Canadian PressJune 18, 2013 09:31

TORONTO - The Canadian dollar closed lower Tuesday while the greenback advanced as the U.S. Federal Reserve started its scheduled two-day meeting on interest rates. The loonie was down 0.32 of a cent at 97.94 cents US. Traders hope the meeting of Fed policy-makers and a news conference Wednesday afternoon by Fed chairman Ben Bernanke will provide clarity on whether the U.S. central bank thinks that it can start to slowly let up on its program of bond purchases, which has been aimed at keeping interest rates and yields low.

Most actively traded companies on the TSX, TSX Venture Exchange markets

The Canadian PressJune 18, 2013 18:01

TORONTO - Some of the most active companies traded Tuesday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (12,367.46 up 78.56 points): Bombardier Inc. (TSX:BBD.B). Plane and train maker. Down 14 cents, or 2.98 per cent, at $4.56 on 18.86 million shares. Bombardier announced at the Paris Aire Show that VistaJet has placed an order of up to 40 new Challenger 350s that would be worth US$1.035 billion at current list prices. However, the Montreal-based concern has yet to announce a CSeries order at the premier aerospace event.