Report on Business - The Globe and Mail

The close: TSX notches biggest gain in two months as China jitters ebb and investors take Fed’s hawkish turn in stride

evergrande

China’s Evergrande mess is spreading and hurting big mining companies. The iron ore and steel party is over

But even before the Evergrande debacle, steel prices were falling as production slowed in China

Eric Reguly

China Evergrande’s domestic debt deal calms immediate contagion concern

Heavily indebted Evergrande is so intertwined with China’s broader economy that its fate and fears of contagion have kept global stock and bond markets on tenterhooks

What’s behind Evergrande’s debt struggle and why it’s rattling investors around the world

A look at the anxiety swirling around China’s second-largest property developer, which is on the brink of collapse

energy

Quebec government faces lawsuit over its plan to ban oil and gas production

Utica Resources Inc. filed a lawsuit last month alleging the government acted illegally and with political motives in refusing the company’s application for an exploratory drilling licence

Financial services powerhouses, led by former Bank of Canada governor Mark Carney, commit to net-zero push

Seventeen organizations, including London Stock Exchange Group, Moody’s Investors Service, S&P Global Inc., PricewaterhouseCoopers and MSCI Inc., have committed to ‘aligning’ their products and services to meet climate targets

streetwise

Ontario Teachers’ Pension Plan buys alternative mortgage lender

Teachers is acquiring HomeEquity Bank from owner Birch Hill Equity Partners Management Inc.; none of the parties disclosed terms of the deal

CIBC launches first new logo in decades as part of plan to revitalize image

The change to CIBC’s logo for the first time in decades is the most visible part of its attempt to recast the bank’s corporate culture and its relationships with clients

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Featured

Carrick on Money

These are the credit cards with the most satisfied customers

Rob Carrick September 21

Rob Carrick

‘More damage beneath the surface’ of TSX offers opportunity: Scotiabank

Pressure on employers to retain employees rises as turnover increases

OMERS, CPPIB sell New York property to Google for US$2.1-billion

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CN Rail to slash capital spending, resume stock buybacks as shareholder battle looms

Canadian National Railway says it will focus on ‘redefining railroading, driving profitable growth and making structural improvements for the next generation’

BMO’s Rotenberg to head Fidelity’s US$4.1-trillion personal investing division

Bank of Montreal’s wealth management head, Joanna Rotenberg, announced last week that she is leaving her role at the bank

Activist shareholder’s bid to oust CN Rail executive, board members is misguided

CN Rail was not successful in its bid to acquire Kansas City Southern, but that is no reason to replace CEO Jean-Jacques Ruest and four directors as activist investor Christopher Hohn seeks

With its takeover of Kansas City Southern, CP sees access to Mexico and profit growth

Canadian Pacific Railway CEO touts benefits of planned Mexico expansion following takeover of Kansas City Southern

Vancouver software firm Copperleaf looks to kick off fall season for Canadian tech IPOs

Could be first TSX new issue since July following record stretch

Ask an expert: Can we ask staff who moved during the pandemic to take pay cuts if they’re now living in smaller, lower-cost communities?

Also: I’ve gained weight over the past 18 months and my office wear is now snug. Should I buy new clothes or hit the gym?

Rosemary Counter

Good grief: Why doesn’t any one talk about the emotional toll closing down has on small business owners?

Academics have started to investigate the kind of grief that hits entrepreneurs who’ve taken their one moonshot and failed

A score to settle: Edmonton software ace looks to upend one of the world’s most entrenched industries

Credit ratings agencies haven’t changed much in over a century, but tech entrepreneur Evan Chrapko says he has a better digital-age idea

Why CI Global’s Lee Goldman is bullish on industrial REITs

The real estate investment manager is also watching Chartwell Retirement Residences as pandemic restrictions loosen and demand picks up

The pandemic may have sapped your employees’ ambition. Here’s how you can help them get their hustle back again

Managers should first avoid dismissing the situation as a pandemic blip. It’s unlikely that COVID-19 is the only factor influencing employee apathy

The globe Women's Collective: Accelerating career progression at every stage

The globe Women's Collective

Accelerating career progression at every stage

The Globe Women’s Collective is a unique online space for sharing the stories, struggles and successes of women in the workplace

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Latest Business news

BlackBerry beats quarterly revenue expectations on cybersecurity boost

Large firms more likely to set up environmental practices than smaller ones

Jeffrey Jones September 22

Jeffrey Jones

Pure Gold stumbles in Ontario’s notoriously tricky-to-mine Red Lake mining district

September 22 Updated

Celestica stock jolts awake on news of Singapore acquisition

Quebec government faces lawsuit over its plan to ban oil and gas production

Ontario Teachers’ Pension Plan buys alternative mortgage lender

Dapper Labs raises US$250-million for expansion into new sports leagues

Great Canadian Gaming names new CEO as U.S. private equity fund Apollo takes control

September 22 Updated

Video

Facebook unveils its first smart glasses

Facebook launched its first smart glasses on Thursday in a step toward its aim of offering true augmented-reality spectacles, partnering with popular brand Ray-Ban. Conway G. Gittens has more on the launch.

Vaccine panel says Pfizer, Moderna are 'preferred' as second doses

The National Advisory Committee on Immunization now says people who got the Oxford-AstraZeneca vaccine as their first dose should get either Pfizer or Moderna for their second. Chief public health officer Dr. Theresa Tam says the new guidance is based on more evidence that mixing vaccines is not only safe, it is producing an even stronger immune response.

Meet the robot built to produce water on Mars

An Egyptian mechatronics engineer has devised a robot that he says can absorb moisture on Mars and turn it into drinkable water.

Ransom payment my 'hardest decision', says Colonial Pipeline CEO

The chief executive of the massive fuel pipeline hit by ransomware last month told senators on Tuesday that authorizing a multi-million-dollar payment to hackers was the right thing to do.

Mobile hairdresser for seniors on the road again as COVID-19 restrictions ease

A mobile hairdressing service that specializes in seniors is on the road for the first time since November as Ontario eases COVID-19 restrictions. Haircuts on Wheels started out doing kids cuts, but interest from seniors lead to a rethink.

Video: Drawing Conclusions: How much does it cost to break a mortgage?

Personal finance expert Preet Banerjee explains the two formulas you need to know: Three Months' Interest and Interest Rate Differential (IRD)

Light work: How a roll of film is processed

In the lab at Toronto's Downtown Camera, the staff is busy fulfilling developing and scanning jobs for photographers who are shooting on film. Here's a peek at how they processed a roll of Portra 800 120mm for The Globe's story on the expansion of the store to meet the growth of film usage.

In case you missed it

Restaurants across Canada face labour shortages as growing number of hospitality workers leave industry

Wednesday’s analyst upgrades and downgrades

Edesa stock soars after Toronto biotech shares data showing COVID-19 antibody saves lives

In order to reduce the gender wage gap, make all salaries transparent

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More business news

Vancouver’s Thinkific prices IPO at top end of marketing range after strong investor demand

Sunwing strikes resort marketing deal with Marriott, extending reach to hotel giant’s customer base

HR software helps Vancouver tech company keep pace amid hiring ‘hurricane’

International Business

Existing U.S. home sales fall in August, price growth slows

Robinhood to begin testing cryptocurrency wallets next month, with broader launch in early 2022

General Electric, EDF in preliminary talks over possible sale of operations in France

How small business owners are managing the 4th wave

Pandemic pivots: Facing layoffs and financial worries, women launch new careers

Are small businesses headed back to the office?

Pressure on employers to retain employees rises as turnover increases

In order to reduce the gender wage gap, make all salaries transparent

True corporate transparency means embracing the good, bad and otherwise

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