Rolls-Royce Investing $225M to Develop Turbines

Rolls-Royce Investing $225M to Develop TurbinesRolls-Royce Canada is investing $225 million, including a $30-million loan from the Quebec government, to develop new technologies for its industrial power generation turbines. The research and development funding over five years will focus on improving existing turbines and possibly developing new products used by the oil and gas and power industries. The Montreal-based division of the British aerospace engine giant said it is seeking to develop new combustion technology…

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Bankruptcies Down in 2010

Bankruptcies Down in 2010The total number of Canadian businesses and individuals claiming bankruptcy dropped 11.5 per cent in 2010 compared to the previous year, new data released Friday shows. The Office of the Superintendent Of Bankruptcy Canada said consumer involvencies were 11 per cent lower last year over 2009, while commercial insolvencies declined by 22.3 per cent. The term insolvency refers to people who undergo formalized bankruptcy proceedings, but also those who make…

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Canada Slipping Back in Economic Rankings

Canada Slipping Back in Economic RankingsAfter pulling ahead following the Great Recession, Canada is once again slipping in the economic rankings as other economies improve at a faster pace, according to a Conference Board of Canada report card. Canada is likely to get a high C grade for its performance in 2011, putting it in ninth place out of 17 peer nations. That grade’s down from a low B in 2010, which earned Canada a…

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RESP Contribution Rules For 2011

RESP Contribution Rules For 2011One of the main benefits of RESP accounts is the federal Canadian Educational Savings Grant (CESG). This grant is 20% of any eligible contributions in an RESP account. How the RESP Grant System Works Let’s say you open an RESP account for your bouncing new baby and contribute $1,000 into the account. Your financial institution will send the account and contribution information to the Canadian government for grant approval. If…

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Why Men Make More Money Than Women

Why Men Make More Money Than WomenWe often hear statistics about how men and women doing the same jobs aren’t paid the same. I’ve heard that women make anywhere from 60% to 90% of what men make. I don’t trust these figures because the people who quote them often have axes to grind, but I do believe that a gap exists. I don’t think this gap is likely to close completely any time soon. The reason…

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Canada Post, CBC Get Failing Grades

Canada Post, CBC Get Failing GradesA federal watchdog has handed Canada Post and the CBC failing grades for dragging their feet on answering information requests from the public. Information Commissioner Suzanne Legault branded the post office with red-alert status Thursday for refusing to respond to many requests filed under the Access to Information Act. Canada’s public broadcaster fared only slightly better, receiving an F on its report card. Legault also called for improvements to the…

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Couples Huge Bills Unexplained by Bell

Couples Huge Bills Unexplained by BellA couple from Merritt, B.C., have been battling Bell Canada for months over enormous bills — which they call outrageous and unwarranted — for thousands of dollars in unexplained data charges on their smartphone. “They basically made us scared of our phone,” said Daniel Methot. “We just stopped using it. We shut it off,” added his wife, Kate. The Methots got their first shock soon after Kate signed up for…

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