Gun maker Remington files for Chapter 11 bankruptcy protection — again

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Share Remington Arms, weighed down by lawsuits and retail sales restrictions following the Sandy Hook school massacre in 2012, is seeking bankruptcy protection for the second time in as many years.  In a Chapter 11 filing in U.S. Bankruptcy court for Northern District of Alabama this week, the nation’s oldest gun maker listed assets and…Read moreRead more

Barbados offers work visa program to encourage Canadians to work from home, from Barbados

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Share The government of a Caribbean island has a tantalizing suggestion for quarantine-weary Canadians: Working from home is a lot more palatable when you’re doing it remotely from a tropical paradise. The Island nation of Barbados has launched something it’s calling a Barbados Welcome Stamp, a one-year working visa that gives foreigners the right to live…Read moreRead more

Swimco in creditor protection as it tries to survive pandemic’s economic strain

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Share Swimco chief executive Lori Bacon had a date in mind. The first day of summer sounded like the perfect time for the head of a Canadian swimsuit retailer to set off on retirement. But the arrival of COVID-19 changed a lot of plans, including hers.  Instead of retirement, Bacon is working on restructuring the…Read moreRead more

Charity fundraising concerns, the future of retail, Canadians working from home | Business Panel

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Share The WE Charity controversy has cast a spotlight on charities that have for-profit arms and how they function. Where does the money go and what do you need to know before you give? Plus, many businesses are closing shop due to the coronavirus pandemic. What does it mean for the future of the retail…Read moreRead more

Online shopping has doubled during the pandemic, Statistics Canada says

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Share Canadian consumers flocked to online shopping as lockdowns to combat the COVID-19 pandemic were instituted, according to a Statistics Canada report. A new report from the agency found that total retail sales fell by 17.9 per cent as Canadians increasingly sheltered in place between February and May and brick-and-mortar stores closed their doors. Even so,…Read moreRead more

Goldman Sachs settles with Malaysia, will pay $3.9B over sprawling 1MDB corruption case

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Share U.S. investment bank Goldman Sachs has reached a $3.9 billion US settlement with the Malaysian government over the multibillion-dollar 1MDB scandal, the two sides said on Friday. The deal includes a $2.5 billion cash payout by Goldman and a guarantee by the bank to return at least $1.4 billion in assets linked to 1MDB…Read moreRead more

Outage knocks Garmin devices offline for more than a day

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Share GPS device-maker Garmin’s online fitness tracking service has gone down, leaving runners and cyclists struggling to upload data from their latest workouts. Garmin Connect, an app and website that works with the company’s popular line of fitness watches, remained out of service on Friday. The U.S. company had apologized for the disruption a day…Read moreRead more

Suncor CEO encouraged by Trans Mountain pipeline, less sure of Keystone XL’s completion

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Share The chief executive of one of the country’s largest energy companies has more faith in the federal government’s Trans Mountain expansion project being completed, compared with the Keystone XL pipeline, which has Alberta government backing. That’s based on comments by Suncor Energy’s Mark Little on Thursday morning during a conference call with the investment…Read moreRead more

Inflation rate swings back to positive territory in June, up 0.7% for the year

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Share Canada’s inflation rate swung back into positive territory in June, with consumer prices rising at a 0.7 per cent annual pace. In May, during the depths of COVID-19 lockdowns, Canada’s inflation rate dipped to  -0.4 per cent, the second straight month below zero. If inflation below zero persists, that’s a very worrisome economic trend known…Read moreRead more

CEO of Toronto-based cryptocurrency exchange Coinsquare resigns after regulatory probe

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Share Coinsquare Ltd. CEO Cole Diamond will step down after securities regulators accused the cryptocurrency company of misleading investors and manipulating the market. Founder and president Virgile Rostand will also step aside from the Toronto-based company, which creates tools for people to access digital currency markets, as part of the settlement agreement approved on Tuesday…Read moreRead more