Shock: Russia raises interest rate to 17 percent
by •
Russia has raised its key interest rate from 10.5 percent to 17 percent in a desperate attempt to stop the slide of the ruble. Some say the economy cannot sustain the shock for very long. Bloomberg
Jolly good luck to cheapie Canada Jetlines
by •
Still on the ground B.C.-based airline is buying new Boeing jets and plans to have fares in Canada that are 30 to 40 percent lower than Air Canada’s. Good luck. Globe and Mail
Dawn Librach’s Rewind opens on Mt. Pleasant
by •
A smart new shop specializing in re-purchased clothing has opened at 598 Mt. Pleasant Rd just north of Penrose Rd. Rewind is the concept of owner Dawn Librach (seen above on the right with a customer). Dawn is proud of her method of acquisition and handling of all clothing, including shoes and other accessories. “We buy the goods outright from sources all over the U.S. and Canada. There’s no consignment so we are able to sell at a better price.” Inventory may range across many decades, she says. Dawn is a Bachelor of Commerce graduate from Ryerson University, where she learned her interest in retailing. Her business is fully-described as Rewind: couture revisited/vintage resale.
U.S.-based PetSmart sold to Canadian consortium
by •
PetSmart, the pet supply and associated goods chain with a store in the Leaside Centre at Laird Drive and Eglinton Ave. E., has been sold by its U.S. owners to a Canadian consortium that includes B.C. Investors and the Quebec based Caisse de depot. The price was $8.3-billion (U.S.) in what is being called the biggest leveraged deal for an American company this year. The group will pay $83 a share, according to a statement Sunday. The business background involves continuing erosion of PetSmart’s business by online mammoth Amazon and others. The company continues to be profitable but major shareholders in the U.S. wanted out at the highest price possible. Globe and Mail and others.
Ontario to get $1.25 billion windfall from Ottawa
by •
Ontario will receive an additional $1.25 billion from the federal government next year, following a concerted campaign by the premier to get Ottawa to hand over more money in transfers. Premier Kathleen Wynne and her finance minister had complained that the federal government shortchanged the province in 2014-15 by $640 million when it unilaterally tweaked the transfer calculations. CP
Carols and Friends at St. Cuthberts December 22
by •
A South Bayview tradition will return next Monday, December 22, 2014, when friends gather to sing carols at St. Cuthbert’s Church, 1399 Bayview Ave at St. Cuthberts Rd. As usual, the event will be accompanied by cider and cookies. A non-perishable gift of foodstuffs will be welcome for donation to the Flemingdon Park Food Bank. That’s Carols with Friends Monday December 22 at 7 p.m.
Unconfirmed by CBC: 2 dead, 3 seriously hurt
by •
Awaiting details of what has happened from police.
Reports: Police have stormed Sydney cafe
by •
Yonge-Eglinton hi-rise condo sells for $649,800
by •
A 1200-sq. ft. condominium unit in the Minto Midtown at 2181 Yonge St. just south of Eglinton Ave. E. has sold for its asking price, $649,800. It had previously sold in 2007 for $474,300 perhaps when it was new. Toronto Star
Uber jacks up rate for panic-stricken Aussie riders
by •
The Washington Post is saying that Uber responded to the hostage-taking in downtown Sydney by immediately jacking prices for a ride out of the crisis zone to about $100 Canadian. It later stopped this tactic in the face of media criticism. Uber tweeted the price change as the crisis broke. The company has defended what it calls “surge-pricing” as necessary to encourage more drivers to pick up passengers when demand is high. Uh-huh.