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Biggest U.S. banks strong enough to withstand recession: Fed

In this Thursday, Nov. 17, 2016, file photo, Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, before the Joint Economic Committee. (AP Photo/Susan Walsh, File)
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Postmedia selling Infomart division

Postmedia Network Canada Corp. has signed a deal to sell Infomart, its media monitoring division, to Meltwater News Canada Inc. for $38.25 million.
The cash-strapped media company says net proceeds from the sale will be used to repay debt.
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Canadian retail sales top April forecasts

Canadian consumer spending in April was stronger than expected, which economists say lends weight to the Bank of Canada's recent suggestions that interest rate hikes could be on the way.
Statistics Canada reported Thursday that retail sales for April rose by 0.8 per cent on a monthly basis to $48.6 billion.
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A new platform for Whole Foods? How deal could upend grocery

NEW YORK -- Seeing Whole Foods products first in Amazon searches? Breezing through the grocer's stores with an app that scans affordable fruits and seafood?
Those are among the possible scenarios that unnerved the food industry last week, when Amazon announced a $13.7 billion megadeal to acquire Whole Foods.
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Warren Buffett’s company buys into Toronto-based Home Capital

Home Capital Group Inc. says American investment firm Berkshire Hathaway Inc. has agreed to indirectly acquire $400 million of its common shares in a private placement and provide a new $2 billion line of credit to its subsidiary, Home Trust Company.
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Foreign home buyers surge 37 per cent in Montreal on growth in Chinese purchases

MONTREAL -- Canada's federal housing agency says the number of foreign buyers in the Montreal area surged by 37 per cent in the first four months of the year.
The 236 purchases by foreigners accounted for 1.8 per cent of all real estate transactions from January to April, the Canada Mortgage and Housing Corp.
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Sears Canada cutting 2,900 jobs, closing 59 locations

TORONTO — Sears Canada said Thursday it is seeking court protection from its creditors in order to restructure its business.
The struggling retailer has piled up losses and seen its stock dive, losing more than 80 per cent of its value in the last year, despite efforts to reinvent itself at a time when more Canadians are shirking bricks-and-mortar in favour of online shopping.
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Qatar Airways seeks 10% stake in American Airlines

State-owned Qatar Airways is attempting to buy 10 per cent of American Airlines, a surprising move that would trigger an antitrust review by the U.S. government and carry political and trade-policy implications.
American Airlines Group Inc.
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New cryptocurrencies offering more than just a way to pay for things online

OTTAWA -- The success of bitcoin has spurred the launch of hundreds of copycat digital payment systems looking to cash in on the popularity of the cryptocurrency.
But now a new generation of digital assets are gaining momentum, offering to do more with blockchain -- the technology that powers bitcoin as a currency -- than just allow a way to pay for things online using virtual Internet money.
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Boeing plays down Bombardier dispute, still hopes to sell fighter jets to Canada

OTTAWA - A senior Boeing official says the U.S. aerospace giant's trade dispute with Montreal-based rival Bombardier is a "company-to-company issue."
And Leanne Caret, the head of Boeing's massive defence, security and space division, still hopes to sell Super Hornet fighter jets to Canada.
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Warren Buffet’s company buys into Toronto-based Home Capital

Home Capital Group Inc. says American investment firm Berkshire Hathaway Inc. has agreed to indirectly acquire $400 million of its common shares in a private placement and provide a new $2 billion line of credit to its subsidiary, Home Trust Company.
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Full list of 59 Sears Canada stores slated to close

Sears Canada will be closing stores in every province except Prince Edward Island, as the retailer slashes 2,900 jobs amid a major restructuring effort.
Sears filed for court protection from creditors on Thursday, before announcing that it will close 20 full-line locations, 15 Sears Home stores, 10 outlet stores and 14 Sears Hometown locations.
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Sears Canada seeking court protection from creditors

TORONTO — Sears Canada said Thursday it is seeking court protection from its creditors in order to restructure its business.
The struggling retailer has piled up losses and seen its stock dive, losing more than 80 per cent of its value in the last year, despite efforts to reinvent itself at a time when more Canadians are shirking bricks-and-mortar in favour of online shopping.
See Full Article