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When Startups Fail, Employees and Customers are often hit Hard

SAN JOSE, CALIF.—Silicon Valley has long lured ambitious entrepreneurs into shiny co-working spaces and startup accelerators, promising them the chance to create the next Google, Facebook or Uber. But the reality is most startups fail, a risk that some say is growing as funding that once poured into the booming tech market begins to slow. For founders and employees, the …

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Toronto Startup Edges Closer to Cashless Future With its Mobile Wallet

Liberty Villagers have been leaving their wallets in their condos when they buy tools from the hardware store, stop in for sushi or purchase bouquets from the florist as part of a local currency experiment that could be a breeding ground for a cashless future. The university campus-like Toronto enclave has been a “working lab” for MintChip, the digital currency …

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Probability of Netflix entering Chinese market ‘doesn’t look good,’ CEO says

Netflix Inc.’s likelihood of entering the Chinese market, one of the few countries where it doesn’t offer streaming video service, “doesn’t look good,” Chief Executive Officer Reed Hastings said. “We’re focused on the rest of the world,” Hastings said Friday at the New Yorker TechFest in New York. “Disney, who is very good in China, had their movie service shut …

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Samsung stops production of Galaxy Note 7 after reports of devices catching fire

SEOUL, SOUTH KOREA—South Korea’s Yonhap news agency says that Samsung Electronics has temporarily halted production of Galaxy Note 7 smartphones. Citing an unnamed official at a Samsung supplier on Monday, Yonhap reported that the tech giant took the unprecedented measure for consumer safety. The move comes after reports that Samsung’s replacement devices had, like those initially released, caught fire. The …

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Canadian Drugmaker Concordia Faces Their Biggest one-day Decline

Concordia International Corp.’s $6.5 billion debt-fueled acquisition spree is coming back to haunt the drugmaker’s lenders. Bonds of the junk-rated company lost about $245 million Monday, in their biggest one-day decline, after the company posted disappointing third-quarter earnings results and suspended its forecast. The Canadian drugmaker’s biggest note now yields about 28.5 per cent, which is close to what investors …

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How Middle America Became Trump Country: Wells

Michael Hicks lives in the Democratic hole of the Republican doughnut otherwise known as the state of Indiana, home state to Donald Trump’s vice-presidential running mate, Mike Pence. I met Hicks four years ago, when Caterpillar was shutting its Electro-Motive Diesel operation in London, Ont., vacating hundreds of jobs from the region. New jobs were pledged instead to Muncie, Indiana, …

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How Trudeau’s Carbon Price Plan will Affect Five Canadian Industries

The national minimum price on carbon proposed by Prime Minister Justin Trudeau on Monday has sparked fears from several Canadian industries that their costs and product prices will rise and their ability to compete with international rivals will suffer. The actual impact is unclear, they say, as implementation details are missing from the federal plan to impose a carbon price …

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Canadian Oil Industry’s Losses to Stretch Into Third Year, think-tank Predicts

OTTAWA—Canada’s oil extraction industry will have to ride through $21 billion in losses before it returns to profitability some time in 2017, according to the latest estimate from the Conference Board of Canada. The Ottawa-based think-tank says the industry is headed for a $10-billion loss this year after a record-setting $11-billion loss last year, the first time on record it …

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Broadview Hotel Prepares to Strip Off Its Veil

It’s the full-frontal makeover of a landmark that’s been teasing east-end residents for months. This week the scaffolding and construction mesh finally get ripped off the restored red Romanesque Revival facade of the Broadview Hotel, formerly Jilly’s strip club. As the lights go up on the northwest corner of Queen St. East and Broadview Ave. on Wednesday, the veil comes …

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Trudeau Replaces Pipeline Uncertainty With Carbon Price Uncertainty

By announcing a hefty price on carbon, Prime Minister Justin Trudeau seems to be moving closer to finally approving an oil export pipeline. But he is also creating a new problem: His targeted minimum price on carbon emissions is so high, how it will be implemented so unclear, he’s replacing pipeline uncertainty with carbon price uncertainty — hardly the recipe …

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