More business looking to be downtown, says Colliers

Thu, 17 Apr 2014 00:00:00 GMT
Location is trumping space as more businesses look to move to the downtown core and downsize their offices at the same time, says a new report from leasing brokerage Colliers International. The downtown commercial vacancy rate dropped slightly to 3.8 per cent in the first quarter of 2014 from 4.1 per cent a year earlier, it says. But vacancies have started creeping up in suburban markets as more “non-traditional tenants” – beyond the usual financial services and legal firms — migrate downtown. Read Article

Canada and Australia host world’s strongest banking systems: Moody’s

Thu, 17 Apr 2014 00:00:00 GMT
Canada and Australia are host to a couple of the world's strongest, most profitable banking systems — where they differ is what they do with their earnings, notes a new report from Moody's Investors Service. The rating agency issued a new report today comparing the two countries' banking systems. It finds that the major banks in both Canada and Australia enjoy "favourable industry structures and strong domestic retail franchises that support solid earnings and internal capital generation." Read Article

On location filming in Toronto exceeds $1 billion for third straight year

Thu, 17 Apr 2014 00:00:00 GMT
A presentation to the City of Toronto's Economic Development Committee today outlined the ongoing success of Toronto's screen-based industry – film, television, commercials and animation. Read Article

Moving Commuters and Businesses More Quickly Across the Greater Toronto and Hamilton Area

Thu, 17 Apr 2014 00:00:00 GMT
The new Moving Ontario Forward plan would work toward phasing in electric train service every 15 minutes on all GO lines. GO Regional Express Rail would provide faster, more frequent service on GO corridors, in both directions, all day long. The service would create a viable alternative for people driving on busy highways from communities in the Greater Toronto and Hamilton Area (GTHA) by providing a faster, more flexible way to get in and out of Toronto's downtown core. It would also give commuters within Toronto another way to get downtown by increasing service between GO stations and Union Station. A commuter could get to Union Station from Danforth GO Station in just 9 minutes, or from Bloor GO Station in just 15 minutes. Read Article

Wahlburgers restaurant destined for Toronto

Wed, 16 Apr 2014 00:00:00 GMT
Brothers Mark, Donnie and Paul Wahlberg have decided to call Toronto their new home — or at least a home for their burgers. Wahlburgers, a casual burger restaurant founded by the siblings, announced Monday they will open a new joint downtown this summer at 46 Blue Jay Way. “The Toronto location is in a perfect, high traffic spot and fits the needs of our local partners,” Rick Vanzura, CEO of Wahlburgers, said in an emailed statement. Read Article

A Thought-Provoking Argument on Why Canada May Be a Better Choice for Startups Than America

Wed, 16 Apr 2014 00:00:00 GMT
I’m a Canadian citizen who sold my last startup Attassa in 2010 to Silicon Valley’s Yousendit. I also led mobile Product at Zecter, a Y-Combinator company that was later sold to Motorola/Google. In the last five years in the Bay area, I’ve built a healthy Rolodex of Silicon valley connections. But in January 2013, I moved back and incorporated my a new company in Canada; and not because of SR&ED, not because of IRAP, not because of soaring engineering costs in Silicon Valley, not even because of the US’s luddite immigration policy which makes it difficult for foreigners to start companies in the US. At the end of the day, my advice to Canadian startups is to stay in Canada, but build connections and spend real time in the valley focusing on business development and marketing. And finally to surround yourself with other local startups shooting for the moon. Read Article

INTERVIEW: RENATO DISCENZA, THE MAN WHO SELLS TORONTO

Wed, 16 Apr 2014 00:00:00 GMT
Discenza became President & CEO of Invest Toronto in early 2010. Since that time, his office has already dealt with almost 750 clients, and the number of leads is increasing to such a point that today, Invest Toronto’s staff members can be selective about who they help. A clear example of this is the number of people who work in the office: there are currently 12 employees and they expect to eventually grow to 20. The CEO talked to PAW about business opportunities for Latin American companies in Toronto, emphasizing the need to change the investment flow in such a way that they not only go from North to South, but take the "opposite course’’ as well. Discenza stated that Latin companies have a wide range of opportunities to expand their businesses in Toronto and gain access to market of 180 million people in just one hour and a half. Read Article

PNC Bank Canada Branch President Hines talks service expansion

Tue, 15 Apr 2014 00:00:00 GMT
Two months ago, PNC (NYSE:PNC) obtained a license from Canada’s Office of the Superintendent of Financial Institutions that allows bank to include deposits and a range of services to both Canadian companies and U.S. companies doing business in Canada. “That’s what’s exciting,” Hines said., “We can now complement the lending services we were offering with the full range of product services to support our clients who do business with us in Canada more aggressively. It means we can grow through these clients as they open new operations in Canada or expand existing ones.” Read Article

Creating Cleaner Air in Ontario: Province Has Eliminated Coal-Fired Generation

Tue, 15 Apr 2014 00:00:00 GMT
Ontario is now the first jurisdiction in North America to fully eliminate coal as a source of electricity generation. The Thunder Bay Generating Station, Ontario's last remaining coal-fired facility, has burned its last supply of coal. Operated by Ontario Power Generation, Thunder Bay Generating Station was the oldest coal-fired station in the province. The plant is scheduled to be converted to burn advanced biomass, a renewable fuel source. The province has replaced coal generation with a mix of emission-free electricity sources like nuclear, waterpower, wind and solar, along with lower-emission electricity sources like natural gas and biomass. Read Article

Toronto tops survey of world's most 'resilient' cities

Mon, 14 Apr 2014 00:00:00 GMT
Toronto, Vancouver and Calgary have topped a survey that ranked 50 international cities according to their “resiliency.” Toronto came in first, with Vancouver and Calgary following in second and third place. No other Canadian cities were on the list. The findings were part of a research report by Grosvenor, an international real estate development company. Chicago, Pittsburgh and Stockholm also rated well, following in 4th, 5th and 6th place overall. Read Article

IMF upgrades Canada’s economic forecast

Mon, 14 Apr 2014 00:00:00 GMT
The International Monetary Fund has nudged its economic forecast for Canada higher, saying the country stands to benefit from a resurging U.S. economy this year. Canada’s economy is expected to grow 2.3 per cent this year, up from 2 per cent growth in 2013 and one-tenth of a point higher than its January forecast, the IMF said. It left its 2015 prediction at 2.4 per cent. Read Article

Four Canadian cities to present opportunities for foreign property buyers

Mon, 14 Apr 2014 00:00:00 GMT
Four Canadian cities are increasingly punching above their weight on the global stage, and are poised to attract more capital from foreign real estate investors, Jones Lang LaSalle says in a new report. “A marked shift in international interest in Canadian cities will occur over the next five years,” its report predicts, singling out Toronto, Vancouver, Montreal and Calgary. Read Article

Deputy Mayor Roundtable hears from Toronto's small-business community

Mon, 14 Apr 2014 00:00:00 GMT
Deputy Mayor Norm Kelly and Economic Development Committee Chair Councillor Michael Thompson co-chaired a small business roundtable that received input and advice from Toronto small business owners, stakeholders and entrepreneurs. "Continuing to build relationships with small business leaders is important to the success of our City", said Deputy Mayor Kelly. "Small businesses are incredibly dedicated to improving the communities they do business in and provide a wide range of exciting employment opportunities." Read Article

Eglinton LRT plan calls for $150 million in streetscaping

Mon, 14 Apr 2014 00:00:00 GMT
There were plenty of kudos this week for the city’s plans to beautify Eglinton Ave. after the Eglinton-Scarborough Crosstown LRT opens in 2020, including construction of what would be Toronto’s longest bike lanes. Because the existing bus lanes will no longer be needed, city planners and transportation staff are recommending that road space be redistributed among buffered sidewalk-height bike lanes, wider sidewalks and more greenery on the 11-kilometre stretch between Black Creek Dr. and Brentcliffe Rd. That’s where the LRT will run in a tunnel under the road. Read Article

New Ryerson building shaping up to be a lively addition to Yonge

Mon, 14 Apr 2014 00:00:00 GMT
Ryerson's oddly named but Snohetta-designed Student Learning Centre is fast taking shape, with work just completed on the seventh of nine floors. Though calling a campus building a student learning centre is like calling a wing of a hospital the patient care centre, the SLC is obviously going to be among Yonge Street's most aesthetically distinctive façades. Read Article

Bay Street eyes high-speed trading link to New York

Mon, 14 Apr 2014 00:00:00 GMT
Amid a burgeoning debate about using faster data connections to give some stock traders an advantage, there are growing expectations that a high-speed microwave network may soon link markets in Toronto and New York and that TMX Group Inc. may be the operator. Brokerage firm ITG Canada has predicted that someone will build a chain of microwave towers between Toronto and the New Jersey market-data hubs for U.S. exchanges. Read Article

Moving Ontario Forward With Large New Investment

Mon, 14 Apr 2014 00:00:00 GMT
Today, Premier Kathleen Wynne announced the Ontario government's plan to build a seamless and integrated transportation network across the province -- Moving Ontario Forward -- to create jobs, boost productivity and help every part of Ontario grow and prosper. The robust plan would put in place dedicated and substantial funding for public transit and transportation infrastructure. It would make nearly $29 billion available over the next 10 years for investments in priority infrastructure projects across the province such as public transit, roads, bridges and highways. The province would create two dedicated funds - one for the Greater Toronto and Hamilton Area (GTHA) with up to $15 billion available for investment in transit and one for the rest of the province with nearly $14 billion available for investment in roads, bridges, transit and other critical infrastructure. Read Article

Discovery, Canada's Premier Innovation Showcase, Returns May 12-13

Mon, 14 Apr 2014 00:00:00 GMT
Discovery, Canada's premier innovation showcase returns for its ninth installment May 12 and 13 at the Metro Toronto Convention Centre, South Building. Every year, Discovery, presented by Ontario Centres of Excellence (OCE), brings some of the latest and greatest technological advances out of the lab and on to the show floor. It also features internationally renowned speakers, networking, investment and career advancement opportunities, and competitions. Read Article