Report on Business - The Globe and Mail

The Globe’s stars and dogs for the week

COVID-19

COVID-19 pandemic finally takes financial toll on Canada’s big banks

The Omicron variant of COVID-19, as well as persistent supply-chain problems and labour shortages, are clouding the chances of a swift economic recovery

dual-class shares

Couche-Tard’s end of special voting rights will be closely watched by critics, defenders of dual-class share structures

What happens to Couche-Tard in the months and years ahead could have broader repercussions for the Canadian corporate landscape, observers say

The Rogers family feud does not make dual-class shares a bad idea

This sort of incident is extraordinarily rare. Most of the time dual-share companies tick along just fine – according to some studies, better than companies with more conventional share structures.

Andrew Coyne

tax and spend

Alberta rides higher oil prices toward a balanced budget

The energy-producing provinces of Alberta, Saskatchewan and Newfoundland have unveiled much improved revenue numbers in the past week, driven by the rebound in crude prices. But the lurch upward is most breathtaking in Alberta

Alberta benefits from higher crude prices but anxiety also runs high

Omicron variant’s arrival adds to widespread existing worries about financial and emotional insecurity

Kelly Cryderman

Kelly Cryderman

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Featured

The highest-yielding stocks on the TSX, plus risk data

New rules for advisers mean they should be saying a big, fat no to a lot of new investing products

December 3 Updated

Bank dividend yields are hard to ignore. But here’s why you should

Why companies need to double down on employee cross-training

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Condo owners face growing insurance bills for damage to common areas

More condo buildings have increased their deductibles over the past year and many condo boards only communicate the changes in annual updates that are usually mailed out in newsletters

RBC and National Bank earnings fall short as revenue stalls

Both banks hiked dividends, but still failed to meet Bay Street’s expectations

Bank bonuses expected to balloon amid surge in deals, fierce competition for talent

Canadian bankers who worked on mergers and acquisitions, equity issuances and initial public offerings this year are expected to be handsomely rewarded

Britain-based litigation firm to finance lawsuit against Canadian advisers of failed payday lender

Augusta Ventures has agreed to finance lawsuits against KPMG LLP, Cassels Brock & Blackwell LLP and Canaccord Genuity Corp., which were brought by a group of Cash Store creditors in 2015

Laurentian Bank faces financial hit as new CEO unveils restructuring plans

Laurentian will take $209-million in writedowns and other charges, which are expected to push the bank into a fourth-quarter loss

Young lawyers are increasingly saying no to big law firms because of the gruelling hours. Inside the efforts to woo them back

The legal industry is struggling to find its footing as the pandemic has forced a reset of worker expectations, particularly among young associates

Canada’s top wealth advisors 2021

In partnership with SHOOK Research, The Globe and Mail presents its inaugural ranking of the country’s most effective financial advisors

Best Law Firms in Canada: Our complete listings

The Globe and Mail partnered with Statista to determine which law firms in Canada are held in the highest esteem by their colleagues

Meet Carl Hansen, the scientist-turned-CEO behind AbCellera’s life-saving COVID-19 treatment

The company garnered lots of attention for a COVID-19 treatment that has been administered to hundreds of thousands of patients and led to a huge IPO. But AbCellera is no one-hit wonder. Hansen has proven its drug discovery process works—fast—and now he wants to build a giant right here in Canada

Rebecca McKillican took over thousands of pharmacies – just in time to help lead the vaccine rollout

McKillican was heading Well.ca when Texas-based giant McKesson acquired it in 2017. They were so impressed by what she’d managed to do they made her CEO of their entire Canadian operation, including pharmacies nationwide—just in time for the her to help lead the vaccine rollout

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

founding partner

Latest Business news

Toshiba walked away from potential buyout talks, offer for minority stake in Brookfield, sources say

China Evergrande shares hit 11-year low after firm says no guarantee it can meet repayments

December 5 Updated

Alibaba appoints new CFO as it faces regulatory crackdown, economic slowdown

December 5 Updated

Global coalition presses Meta on ‘moral obligation’ to release youth mental-health data

December 5 Updated

Couche-Tard’s end of special voting rights will be closely watched by critics, defenders of dual-class share structures

December 5 Updated

National Bank hires mining investment banking team from Scotiabank

Hiking U.S. duties on Canadian softwood could damage our relationship with the U.S.

Michael Kelly-Gagnon and Anthony B. Kim December 5

Sun Life plans to continue acquisition spree as it aims to grow outside of Canada

Video

GV70 luxury crossover shows Genesis is no longer an underdog

With the GV70, Genesis shows it is ready to battle the European manufacturers in the competitive luxury crossover segment. James Engelsman and Thomas Holland from Throttle House say the GV70 makes up for being a little down on performance with plenty of style and tech.

Bank of Canada warns of prolonged inflation

Bank of Canada governor Tiff Macklem says inflation will remain higher for longer, largely driven by global supply-chain problems, which could pose a challenge for households.

Google delays mandatory return to office indefinitely

Alphabet Inc's Google said on Thursday it is indefinitely pushing back its January return-to-office plan globally amid growing concerns over the Omicron variant of the coronavirus and some resistance to company-mandated vaccinations. Jayson Albano reports.

What supply chain problems in the U.S. means for Canadians

Pent-up demand, overwhelmed U.S. ports and COVID-19 are affecting how goods are making their way to Canada. David Soberman from the Rotman School of Management says it could be months until a new equilibrium is found in global shipping and Canadian businesses and consumers need to be ready to adapt.

Facebook whistleblower: buck stops with Zuckerberg

Testifying before Congress, a former Facebook data scientist accused the company of being aware of apparent harm to some teens from Instagram and being dishonest in its public fight against hate and misinformation.

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

Did you bring home a pandemic pet? The costs have never been higher

B.C. fusion energy developer of no-carbon emission, no-meltdown reactors raises US$130-million to build pivotal test plant

Booming cash flows have Canadian energy producers hungry for tax pools, helping fuel PrairieSky’s latest acquisition

Where did all the self-employed workers go?

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More business news

The next big trends in omnichannel commerce

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

International Business

Amid Evergrande crisis, more Chinese developers to issue ABS

EU watchdog tells banks to not be ‘overly generous’ with bonuses due to risk of abrupt market pullbacks

Ford aims to be world’s second largest electric vehicle manufacturer within two years, executive says

Where did all the self-employed workers go?

Business closings overtake openings for first time since May, 2020

Restaurant owners say they have the answer to the current labour shortage: Better pay, benefits and balance

Why companies need to double down on employee cross-training

How GTA’s Top Employers 2022 by Mediacorp are building stronger organizations

To-do lists don’t have to be intimidating

Topics

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