Tobacco companies ask that a $50-billion lawsuit be dismissed
November 5th, 2012 | Comments (0)
Two tobacco companies want an Ontario lawsuit dismissed. British American Tobacco and RJ Reynolds Tobacco are asking Ontario’s top court to dismiss a $50-billion lawsuit brought against them by the province. The companies’ lawyers argue that the suit is based on the false theory that in the 1950s tobacco companies conspired to keep information about the harmful effects of cigarettes from smokers. The province launched the lawsuit against 14 companies in 2009, in an effort to recoup billions of dollars in health care casts.
Overstating fuel mileage lands Hyundai and KIA in hot water with US environmental agency
November 2nd, 2012 | Comments (0)
Two automakers finding themselves in trouble with the US Environmental Protection Agency. The EPA says Hyundai and KIA overstated the gas mileage on most of their models from the past three years. Both companies apologize for the error and will reimburse customers for the difference between the mileage figures. One model’s highway fuel economy was inflated by six miles per gallon. There’s no word on whether the companies will be fined.
Jobs picture for October a little bit gloomy
November 2nd, 2012 | Comments (0)
Not a very inspiring jobs outlook Friday as Stats Canada released unemployment numbers for October. While the rate stayed at 7.4 percent, only 1,800 jobs were added last month. Canadian Labour Congress Senior Economist Angela McEwen hopes the federal government realizes they still have a job to do with the economy and now is not the time to back off on infrastructure projects. In Oshawa the unemployment rate is up slightly to 9.1 percent while Toronto is at 8.6 percent, also a slight jump. In the US, the jobs reports shows American employers added 171,000 jobs in October even though the unemployment rate still inched up to 7.9 percent.
Mr Christie cookie factory to close
November 2nd, 2012 | Comments (0)
A landmark in west Toronto will close next year. 550 people will lose their jobs when the Christie Cookie factory closes in the third quarter of 2013. The plant has been making cookies for 64 years. Mondelez Canada says the facility is old and the area is changing to homes and shops.
New car sales in Canada set a record
November 2nd, 2012 | Comments (0)
It seems many people were shopping for new cars in October. Figures out this week show new vehicle sales were the highest they have been in more than 10 years for October, and 8 percent higher that the same month last year. There were just over 135,000 new vehicles sold in October in Canada. General Motors didn’t have a good month with sales down 4.6 percent
Canadians should worry about debt
November 1st, 2012 | Comments (0)
Bank of Canada Governor Mark Carney is advising Canadians not to ge to comfortable about their financial security if it’s tied to the value of their homes. Carney says he has seen Canadians who feel financially secure because their assets are bigger than their debts. However, he says they will get a rude shock when house prices plummet, and they’re unable to sell their homes but still face monthly mortgage payments.
Interest rates in Canada will rise in 2014
October 31st, 2012 | Comments (0)
Canadian interest rates will eventually rise and Bank of Canada Governor Mark Carney suggests the hike will occur before the end of 2014. The Bank’s key benchmark has been held at 1 per cent from more than 2 years. Carney made the comments to the Commons Finance Committee.
CAW reaches tentative agreement with Lear in Whitby
October 30th, 2012 | Comments (0)
Workers at Lear in Whitby are back on the job, after the CAW came to a tentative agreement with the company. About 400 employees walked out on Saturday night after contract talks broke down. The company makes seats for GM vehicles that are assembled in Oshawa. No details of the deal have been released, but a ratification vote will be held on the weekend.
Deadline fast approaching for talks at Lear Seating in Whitby
October 27th, 2012 | Comments (0)
The CAW says talks are continuing with Lear Seating in Whitby, with a deadline fast approaching. Officials say the current contract expires at midnight Saturday. The union represents 350 workers at Lear in Whitby and officials say any kind of labour disruption, would bring operations at GM in Oshawa to a stand-still.
Gas prices climbing 2 cents a litre overnight
October 26th, 2012 | Comments (0)
Hurricane Sandy is being blamed, as gas prices are finally expected to start climbing. According to TomorrowsGasPriceToday.com, the price at the pump is going up 2 cents a litre at midnight, to 117.7 cents a litres for regular in Toronto and 114.3 in Whitby/Oshawa. The hurricane has been tearing through the Caribbean and is expected to hammer the US east coast.
Covanta Energy provides update on construction of Energy From Waste facility in Clarington
October 24th, 2012 | Comments (0)
The company contracted to build and operate the Energy From Waste facility in Clarington, Covanta Energy, is working towards being open and transparent with the community. A tour of the construction site was held Wednesday and officials say work is about 15 percent complete and they’re on schedule for a late 2014 opening. Once up and running, the facility will incinerate up to 140,000 tonnes of post recycled waste per year, and generate enough electricity to power between 12,000 and 14,000 homes. That power will be sold back to the grid and there’s also the potential to sell steam for heating purposes to other tenants of the Clarington Energy Park. Officials say this will be the most state-of-the-art facility of its kind in North America and Resident Construction Manager Jim Delaney says all water, other than sewage, will be re-used within the plant and once complete, you could stand beside the building, and not smell any garbage as it will operate in a negative pressure air environment. Covanta is also exploring ways that the left-over ash can be used so as to further limit the impact on landfills. Durham Region put some of the most stringent environmental protection rules in place, during the planning process and company officials say both construction and operations, will be subject to internal and third party audits to ensure those requirements are being met or exceeded. Durham has set a target of a 70 percent waste diversion rate by 2020. The $260-million project will create close to 700 jobs during construction and roughly 40, good paying full time jobs once it’s complete. For more information on the project, click here.
Gas prices hit lowest mark in 20 months
October 24th, 2012 | Comments (0)
Gas prices in the GTA have hit levels not seen this year. The price at the pump is expected to fall another 1.4 cents a litre overnight, putting prices at their lowest since February 21st, 2011. Founder of TomorrowsGasPriceToday.com, Dan McTeague says prices have decreased dramatically at this point, but it’s unlikely they’ll fall below the dollar mark, in part because of the addition of the HST, but also because refineries would shut down or limit production before that ever happened. McTeague says gas prices are determined on a day-to-day basis and futures markets only operate on a 30 day forward basis, making it impossible to speculate what might happen months down the road. McTeague expects in the coming weeks that could swing 5 cents, in either direction.