Latest news with #LauraProctor
Toronto Sun
18 hours ago
- Business
- Toronto Sun
B.C. mall owner's push to buy 25 Hudson's Bay leases faces landlord opposition: Docs
Published Jun 19, 2025 • 1 minute read A Hudson's Bay store in Etobicoke on Friday, March 24, 2025. Photo by Laura Proctor / Bloomberg New court documents show that the landlords of former Hudson's Bay properties overwhelmingly oppose the department store's sale of leases to a B.C. entrepreneur. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The documents filed by a court monitor appointed to help the Bay through creditor protection say landlords representing 23 leases in a group of 25 Ruby Liu purchased won't approve the plan. Court monitor Alvarez & Marsal says the landlords have also said they will oppose any future moves that would force them to accept the lease deal the Bay signed with Liu. As well as the group of leases the landlords oppose Liu also plans to buy three real estate contracts the Bay had at B.C. malls she owns. The Bay will ask a court to approve that deal Monday. In addition to the Liu deals, Alvarez & Marsal say an unnamed party is interested in up to eight leases in Ontario, Alberta, Saskatchewan and Manitoba. It says another lease transaction the Bay signed fell through after an unnamed company refused to correct errors in an agreement and then backed away from the purchase. Read More News NHL Editorial Cartoons MMA Soccer
Toronto Star
a day ago
- Entertainment
- Toronto Star
‘Elbows Up' anthology to include prominent patriots Margaret Atwood, Jay Baruchel, Atom Egoyan
Margaret Atwood is pictured at The Hollywood Reporter Women In Entertainment Canada Tribute Awards at The Ritz-Carlton Hotel in Toronto, on Thursday, May 29, 2025. THE CANADIAN PRESS/Laura Proctor LGP flag wire: true flag sponsored: false article_type: : sWebsitePrimaryPublication : publications/toronto_star bHasMigratedAvatar : false :
Toronto Sun
22-05-2025
- Business
- Toronto Sun
TD plans to cut about 2% of workforce amid restructuring program
A strategic review aimed at finding efficiencies in part by automating processes. Published May 22, 2025 • Last updated 0 minutes ago • 2 minute read The Toronto-Dominion (TD) bank headquarters in the financial district of Toronto. Photo by Laura Proctor / Bloomberg Toronto-Dominion Bank said it will cut about 2% of its workforce as part of a restructuring program begun in the second quarter following its historic anti-money laundering settlement. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The bank, with about 95,000 employees, said the restructuring will cost up to C$700 million in pre-tax charges over the next several quarters, according to a statement Thursday. It expects the effort will generate about C$100 million in pre-tax savings this fiscal year and annual savings of up to C$650 million going forward. Canada's second-largest lender reported earnings that beat estimates after setting aside less money than expected for souring loans. It earned C$1.97 per share on an adjusted basis in its fiscal second quarter, topping the C$1.78 average analyst forecast. Provisions for credit losses totaled C$1.34 billion for the three months through April, less than the C$1.41 billion analysts had forecast. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Under new Chief Executive Officer Raymond Chun, the bank embarked on a strategic review after it agreed to pay almost $3.1 billion to settle with US authorities last year over anti-money-laundering failures. The firm is also constrained from growing its American retail assets and has said it will direct new capital spending to its domestic banking and capital-markets operations. Kelvin Tran, the bank's chief financial officer, said the cost-cutting program is part of the strategic review aimed at finding efficiencies in part by automating processes. 'We're looking at how we can structurally reduce costs across the bank,' he said in an interview, adding that some of the employee exits will be 'managed through attrition.' This advertisement has not loaded yet, but your article continues below. The bank said it already incurred C$163 million of pre-tax restructuring charges, tied to 'real estate optimization, employee severance and other personnel-related costs, and asset impairment and other rationalization, including certain business wind-downs.' Toronto-Dominion is the first of its large rivals to report earnings since US tariffs on a range of Canadian imports kicked in, raising the specter of slowing growth and job losses. That's focused attention on the credit quality of businesses and consumers — and on the money lenders are setting aside in case they start to default on their debt. 'TD delivered strong results this quarter, with robust trading and fee income in our markets-driven businesses as well as deposit and loan growth in Canadian personal and commercial Banking,' Chun said in a statement. The bank's wealth-management and insurance division as well as its capital-markets business also saw revenue growth in the quarter, TD said. Toronto-Dominion has ample capital — it raised $13.9 billion after selling its 10.1% stake in Charles Schwab Corp. earlier this year — and plans to buy back up to C$8 billion worth of its shares. Its stock has steadily climbed after settling the US money-laundering probes and its shares are up about about 18% year-to-date. Sunshine Girls Sunshine Girls World Canada Sports
Toronto Sun
15-05-2025
- Business
- Toronto Sun
Canada's retaliatory tariffs on U.S. drop to ‘nearly zero' with exemptions
Tariffs on some US goods remain, including on food items such as orange juice, alcohol and coffee, as well as clothing and cosmetics Published May 15, 2025 • Last updated 0 minutes ago • 2 minute read A truck crosses the Peace Bridge at the Canada-US border in Fort Erie, Ont., on Wednesday, April 2, 2025. Photo by Laura Proctor / Bloomberg Canada has effectively suspended almost all of its retaliatory tariffs on US products, tamping down inflation risks and improving its growth outlook, according to Oxford Economics. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The government imposed new import taxes of 25% on about C$60 billion ($43 billion) of US-made goods in March in response to the first round of tariffs from the Trump administration. Canada also retaliated against US auto tariffs in early April by putting its own levies on US vehicles. But Prime Minister Mark Carney's government then announced a six-month tariff exemption for products used in Canadian manufacturing, processing and food and beverage packaging, and for items related to health care, public safety and national security. Automakers got a break, too: companies that manufacture in Canada, such as General Motors Co., are allowed to import some vehicles into Canada tariff-free. Those exemptions mean Canada's tariff-rate increase on the US is 'nearly zero,' according to calculations by Oxford. This advertisement has not loaded yet, but your article continues below. 'It's a very strategic approach from a new prime minister to really say, 'We're not going to have a retaliation,'' Tony Stillo, Oxford's director of Canada economics, said in an interview. 'It's a strategic play on the government's part to not damage the Canadian economy.' Retaliatory tariffs on some US goods remain, including on food items such as orange juice, alcohol and coffee, as well as clothing and cosmetics. Carney fought and won an election last month by convincing millions of Canadian voters that he was the best candidate to handle a trade war with the US, which buys about three-quarters of Canada's exports. The prime minister said Canada will have to strengthen its own domestic economy — partly through government-backed infrastructure and housing initiatives — and seek out new trade and security alliances with other countries. But he's also made it clear that he doesn't necessarily endorse 'dollar for dollar' retaliation, which former Prime Minister Justin Trudeau said he supported in 'principle.' A spokesperson for Finance Minister Francois-Philippe Champagne, whose department is responsible for administering the tariffs, did not reply to a request for comment on the Oxford report. Oxford still sees the Canadian economy slipping into recession this year, but it upgraded its growth forecast to 0.9% for this year and 0.3% next year. Government spending should soften the blow of the trade war, the firm said. It's forecasting that the rate of inflation will briefly rise to 3% in 2026, but should quickly ease. Toronto Maple Leafs Relationships World Sunshine Girls Sunshine Girls
Winnipeg Free Press
07-05-2025
- Politics
- Winnipeg Free Press
Ontario to ask for appeal of court order pausing Toronto bike lane removal
TORONTO – Ontario is seeking to appeal a temporary court order stopping it from ripping up three major Toronto bike lanes while a judge weighs whether the plan is unconstitutional. The government served notice of its intent to appeal last month's injunction to lawyers for a cycling advocacy group challenging its plan to remove lanes on Bloor Street, Yonge Street and University Avenue. Superior Court Justice Paul Schabas ordered the government last month to keep its hands off the 19 kilometres of bike lanes until he could decide the case. A cyclist rides in a bike lane on University Avenue in Toronto on December 13, 2024. THE CANADIAN PRESS/Laura Proctor His injunction ruling cited the public interest in protecting cyclist safety and a lack of evidence backing the government's claim that removing the lanes would reduce congestion. In response to Wednesday's notice, a spokesperson for Ontario's transportation minister said, 'we need to keep our busiest roads moving.' Cycle Toronto, the advocacy group leading the removal challenge, called the government's intent to appeal a 'distraction, fuelled by spite.' 'The facts are clear: ripping out bike lanes won't solve congestion and will put people's lives at risk. The provincial government's own experts agree. Today the provincial government confirmed they don't care about the facts,' the group said in a statement. Last week, Premier Doug Ford singled out the injunction in a self-described 'rant' critical of court decisions overruling the government and suggested Ontario should pursue an American-style system where judges are elected. Winnipeg Free Press | Newsletter Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Sign up for The Warm-Up The suggestion, widely panned as an attack on judicial independence and impartiality, was later walked back by Ontario's attorney general. This report by The Canadian Press was first published May 7, 2025.
