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National Business

Hydro One board resigns, CEO retires as Ford makes good on campaign promise

TORONTO — Premier Doug Ford says he has made good on a key campaign promise, announcing the immediate retirement of the CEO of Hydro One and the resignation of the utility's entire board of directors.
Godfrey: tough decisions ahead as  Postmedia focuses on 'areas where we can win'

Godfrey: tough decisions ahead as Postmedia focuses on 'areas where we can win'

TORONTO — Postmedia Network Canada Corp. must make tough decisions in markets where revenue from digital services isn't growing fast enough to offset declines in print revenue, executive chairman Paul Godfrey said Wednesday.
Resource stocks weigh on Toronto market, loonie down despite rate hike

Resource stocks weigh on Toronto market, loonie down despite rate hike

A rise in trade tensions after the U.S. released details of more planned tariffs against China helped send commodities and North American markets down Wednesday, while the loonie also slipped despite a rate hike by the Bank of Canada.

Most actively traded companies on the TSX

Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,417.32, down 131.40 points) Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up three cents, or 0.56 per cent, to $5.43 on 14.
BoC rate hike means higher costs for variable-rate loans but better returns for savers

BoC rate hike means higher costs for variable-rate loans but better returns for savers

TORONTO — The Bank of Canada's latest interest rate hike means higher borrowing costs for consumers with variable-rate mortgages, loans or lines of credit, but it is also good news for savers and future homeowners.

SaskTel plans to close gaps in coverage for northern, rural communities

REGINA — Government-owned Sasktel is looking to fill holes in its existing coverage network rather than extending it. Acting president and CEO Doug Burnett says there are still gaps in northern and rural areas.

Aritzia reports 15th consecutive quarter of comparable sales growth

VANCOUVER — Aritzia Inc. says it recorded its 15th consecutive quarter of comparable sales growth after it jumped nearly 11 per cent in its most recent quarter. The Vancouver-based clothing retailer says comparable sales rose 10.
Banks raise prime rate to 3.7 per cent following Bank of Canada rate hike

Banks raise prime rate to 3.7 per cent following Bank of Canada rate hike

TORONTO — All of Canada's Big Six banks say they will raise their prime lending rate after the Bank of Canada increased its overnight lending rate to financial institutions.

Cancelling wind project could cost over $100 million, company warns

TORONTO — Cancelling an eastern Ontario green energy project that has been under development for nearly a decade could cost more than $100 million, the president of the company said Wednesday, warning that the dispute could be headed to the courts.
JetBlue says Airbus joint venture with Bombardier secondary reason to order A220

JetBlue says Airbus joint venture with Bombardier secondary reason to order A220

MONTREAL — Shares of Bombardier Inc. hit a nearly seven-year high Wednesday after the C Series jet it developed secured the largest order since the announcement of a joint venture with Airbus. JetBlue Airways Corp.