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Shopify shares slide after company called ‘get-rich-quick scheme’

Shopify Inc. tumbled as much as 10 per cent after Citron Research began shorting the stock, saying the Canadian e-commerce company’s claims that it’s minting millionaires should be investigated, and questioning its ability to scale up. In a stinging tweet and video rebuke, Citron founder Andrew Left called Ottawa-based Shopify a “get-rich-quick” scheme and “dirtier” than Herbalife Ltd., which has …

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Bombardier could eventually join Siemens-Alstom, says French finance minister

MONTREAL—The merger between European railway manufacturers hasn’t ended with Alstom and Siemens, and could eventually see other players such as Bombardier joining the fold, France’s finance minister said Wednesday. Testifying before France’s economic affairs committee, Bruno Le Maire described the Franco-German railway merger as inevitable as the industry consolidates in an attempt to compete with Chinese state-owned CRRC. Pressed by …

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Stricter mortgage regulations to be finalized

Stricter regulations aimed at tightening mortgage lending to take some of the risk out of the market will be finalized by the end of the month, the federal financial regulator said Tuesday. Final changes to the Office of the Superintendent of Financial Institutions’ (OSFI) residential mortgage lending guidelines, also known as B-20, will come into force two or three months …

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Banks aren’t keen on letting consumers share their data

Canada’s banking industry has issued a warning to government about giving Canadians more control of their own banking data: proceed with caution. The federal finance department is weighing the merits of making it easier for consumers to share their banking data, as part of a regular review of legislation governing Canada’s banks. The so-called open banking model — which is being …

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Cineplex to open 10 to 15 new Playdium locations across the country

Cineplex is rebooting its Playdium brand and plans to open 10 to 15 new arcade and amusement centres across the country. The Canadian entertainment and media company says these new locations in mid-sized communities are aimed at teens and families, and will offer video games and activities such as virtual reality and bowling. Construction is due to start in early …

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Uber appeals landmark U.K. ruling that gives drivers employee rights

LONDON—Uber Technologies Inc. said a court ruling that found drivers were employees of the car-sharing service was “perverse,” saying the workers didn’t have contracts and so shouldn’t benefit from pay and vacation policies. The San Francisco-based company is appealing the October decision by a three-judge tribunal that gave U.K. drivers the right to overtime and holiday pay, threatening how firms …

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Snoop Dogg invests in Toronto-based seed-to-sale cannabis tracking software

Rapper Snoop Dogg is investing in another Canadian cannabis venture. Toronto-based Trellis, a cannabis inventory management software provider, said Thursday the weed-loving rapper’s venture capital firm is leading its latest $2-million seed round. Snoop Dogg’s Casa Verde Capital invests in firms that support the cannabis industry but don’t directly touch marijuana. This investment comes about a year after Tweed Inc. …

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Alberta creates advisory team to assist cities bidding for second Amazon headquarters

CALGARY—The Alberta government is joining the fray to help Edmonton and Calgary bid for retail giant Amazon’s second headquarters. Premier Rachel Notley says a consultation team of business and academic leaders will assist the cities to make the best bids possible. “Our object is to get that headquarters into this province,” Notley said Monday. “We brought this group together to …

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Canadians curious about marijuana edibles, but concerned about children: survey

HALIFAX—Canadians appear to have an appetite for marijuana-infused munchies, according to a new survey that found a healthy majority both supported the legalization of recreational pot use but had clear concerns about children’s access to edible products containing cannabis. The poll by researchers at Dalhousie University in Halifax found that about 68 per cent of people across the country favour …

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Plus-size lingerie a big business opportunity for U.S. clothiers

Ask any woman. Shopping for bras is a pain, sometimes literally. And if you’re what they call curvy? Good luck with that. But there’s fresh hope on the plus-size horizon, with brands including Calvin Klein and specialty retailers such as Brayola introducing more brassieres in 40DD and beyond. It’s part of a new push by clothiers to appeal to full-figured …

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