Ford Motor Co. announced the addition of 400 new jobs to its assembly plant in Oakville, Ont., Thursday as it officially launched production of the new Edge crossover SUV â€” a vehicle which will be built for Canada, the U.S. and a number of other countries. "It is my privilege to celebrate the start of production of the all new 2015 Ford Edge, redesigned from wheels to roof and everything in between," Joe Hinrichs, president of Ford's Americas division, said at the Oakville plant.
Embattled Quebec Education Minister Yves Bolduc quit politics on Thursday and will return to practising medicine. Bolduc told reporters he has also resigned his Quebec City-area seat in the provincial legislature in addition to quitting cabinet. The abrupt departure comes following a number of controversies surrounding Bolduc, including a recent one over strip searches at Quebec schools. Premier Philippe Couillard stood with Bolduc as he made the announcement in Quebec City, following a brief meeting with the Liberal caucus and Couillard himself.
By Jeffrey Hodgson TORONTO (Reuters) - Canadian Imperial Bank of Commerce , the country's No 5 lender, reported better-than-expected first-quarter earnings on Thursday, helped by strong growth in its wholesale banking business, and unexpectedly raised its dividend. Excluding items, CIBC earned C$2.36 ($2) per share in the quarter ended Jan. 31, topping the average analyst estimate of C$2.27, according to Thomson Reuters I/B/E/S. CIBC shares rose 2.9 percent to C$94.89 in Toronto, the biggest gain among the country's major banks. CIBC CEO Victor Dodig told analysts the bank was still looking at buying U.S. asset management and private banking providers. He had previously said the bank could do deals in the C$1 billion to C$2 billion range.
(Reuters) - International Business Machines Corp , which ruled computing in the age of the mainframe, is targeting $40 billion in annual revenue from the cloud, big data, security and other growth areas by 2018. The aggressive target, set by IBM executives at the company's annual investor meeting in New York on Thursday, is the latest step for the technology giant towards emerging, high-margin businesses, and away from its previous strongholds in hardware and servers. The $40 billion will come from areas which IBM calls its "strategic imperatives," namely cloud, analytics, mobile, social and security software. The company said it would shift $4 billion in spending to its "strategic imperatives" this year.
TORONTO (Reuters) - Canada's main stock index opened higher on Thursday as gains in Toronto Dominion Bank and Canadian Imperial Bank of Commerce helped offset weakness in the energy sector. The Toronto Stock Exchange's S&P/TSX composite index was up 19.64 points, or 0.13, at 15,248.21 shortly after the open. (Reporting by John Tilak)
Rob Ford has more items up for auction on eBay, including what appears to be the tie he wore on Nov. 5, 2013, when he admitted to smoking crack cocaine. Ford dropped his bid for re-election after the cancer diagnosis and ran successfully instead for city council. His assistant has said Ford is selling items on eBay as part of a spring cleaning, but hasn't said what is being done with the rest of the funds raised. Among the latest items put up for auction by Ford is the tie, which he describes as the "only one of these in existence." It features logos from NFL teams past and present.
Britain's Prince William had afternoon tea on his first visit to Japan on Thursday, but it was green and served by a master in the Japanese ceremonial art in a traditional tea house. William began his four-day stay with the tea ceremony, an almost sacred dance-like ritual, at Hama Rikyu Gardens in Tokyo.
The Islamic State group released a video on Thursday showing militants using sledgehammers to smash ancient artifacts in Iraq's northern city of Mosul, describing the relics as idols that must be removed. They are also believed to have sold ancient artifacts on the black market in order to finance their bloody campaign across the region. The five-minute video shows a group of bearded men inside the Mosul Museum using hammers and drills to destroy several large statues, which are then shown chipped and in pieces. The video then shows a black-clad man at a nearby archaeological site inside Mosul, drilling through and destroying a winged-bull Assyrian protective deity that dates back to the 7th century B.C.
Premier Kathleen Wynne says she has no doubt homophobia motivated some of the hundreds of people who protested Ontario's new sex education curriculum this week. Wynne says people will have to draw their own conclusions about why Progressive Conservative leadership candidate Monte McNaughton says she is not qualified to propose a new sex-ed curriculum. "It's not the premier of Ontario's job, especially Kathleen Wynne, to tell parents what's age-appropriate for their children," McNaughton had said after the changes were announced.
A visitation is scheduled for today for a Toronto boy who died after wandering outside in the middle of a bitterly cold night dressed only in a shirt, diapers and boots. Three-year-old Elijah Marsh died a week ago after leaving his grandmother's apartment building, sparking a search that gripped people across the country. An online fundraising campaign to raise money for Elijah's funeral brought in a total of $173,557.
(Reuters) - Canadian meat processor Maple Leaf Foods reported a smaller quarterly loss on Thursday, as it worked through a plan to close older packing plants. Maple Leaf, one of Canada's biggest pork processors, is nearing the end of a multiyear program to upgrade its meat operations as it seeks to boost profits and better compete with U.S. rivals. Chief Executive Officer Michael McCain said the company will close a large plant in Kitchener, Ontario, this week, leaving only one plant in Toronto left to shut. The fourth-quarter net loss from continuing operations narrowed to C$23 million ($18. ...