3 hours ago
TORONTO — Ontario is refusing to lower its levies on alcohol as it moves towards tax harmonization and may also increase the cost of buying a privately sold used car.
Under its deal with Ottawa, Ontario is supposed to standardize its eight per cent provincial tax on products and services as it merges the [...]

The numbers are in….and Canada’s economy is in big trouble. It shrank 0.7 per cent in January, in line with expectations from economists and a slight improvement over December, when economic output plunged a full 1 per cent.
No one is celebrating: The decline marks the sixth consecutive monthly contraction in the economy, with gross domestic [...]

BERTRAND MAROTTE
Globe and Mail update
March 31, 2009 at 2:22 PM EDT
CAE Inc. plans to invest up to $714-million over the next five years in an ambitious research and development program aimed at expanding the company’s role in flight simulation and training, as well as diversifying into other areas.
Montreal-based CAE said today the federal government [...]

TARA PERKINS
Globe and Mail Update
March 31, 2009 at 9:49 AM EDT
Prime Minister Stephen Harper gave Canadian banks some unsolicited advice on the pages of the Financial Times Tuesday, saying that they should capitalize on the relative strength of their balance sheets by acquiring assets abroad.
“I’m not going to try running banks, but I hope [...]

BRENT JANG
Globe and Mail Update
March 31, 2009 at 3:11 PM EDT
Air Canada has made another key appointment that it hopes will help it stave off filing for bankruptcy protection as new president and chief executive officer Calin Rovinescu prepares to streamline the company.
The appointment of Duncan Dee as chief operating officer is seen as [...]

CALGARY — Investors have long been frustrated by Petro-Canada’s share price, so it’s not surprising if some are pressing for the company (TSX:PCA) to change its direction but it might be difficult to do so in the current environment, an analyst said Monday.
One source reported that the Ontario Teachers Pension Plan, which owns about three [...]

Others expect short recession and sharp rebound
Alia McMullen, Financial Post
Published: Monday, February 02, 2009
The federal government’s fiscal stimulus package, while eventually expected to exert some positive economic influence, will not prevent Canada’s slide into a deep recession in 2009, said David Wolf, the Canadian economist and strategist at Merrill Lynch.
He said the Bank of Canada [...]

By Doug Alexander and Sean B. Pasternak
Feb. 2 (Bloomberg) — Royal Bank of Canada Chief Executive Officer Gordon Nixon agreed to forgo C$4.95 million ($4 million) in bonuses, more than half his total compensation, after profit fell for the first time in four years on debt writedowns.
Nixon was awarded about C$3.8 million in salary [...]

STEVE LADURANTAYE
Globe and Mail Update
February 2, 2009 at 10:59 AM EST
Maple Leaf Foods Inc. says its $27-million settlement in a food-poisoning class-action lawsuit is heading to court for final approval, with victims receiving payments ranging from $750 to $125,000.
The company said Tuesday it would pay $125,000 to the estates of those who died from [...]

8 hours ago
TORONTO — The economic slump and a drop in consumer confidence caused house prices to dip during fourth quarter, according to the latest figures from Royal LePage.
It says the real estate market in Canada posted an overall decline in both unit sales and in prices during the fourth quarter of 2008.
Royal LePage says [...]