Browse "Business & Economics"

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Mercantilism

Mercantilism is an economic theory that holds there is a fixed amount of wealth in the world and that a nation's prosperity depends on its success in accumulating wealth by exporting more than it imports, thereby earning profits from its exports.

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Metropolitan Opera

Metropolitan Opera. This illustrious and venerable (founded 1883) New York company has influenced the development of opera in Canada through its tours, broadcasts, and talent-development programs.

Macleans

Mexican Peso Slides

While Canada's dollar crisis reached a boiling point last week, Mexican Foreign Minister José Angel Gurria was in Canada for emergency meetings with bankers and senior federal ministers in an effort to shore up confidence in his country's own floundering currency.

Macleans

Microsoft Under Siege

The man is clearly frightened. Insisting on anonymity, he lowers his voice and lets loose a stream of criticism. As one of Canada's largest sellers of desktop computers, he rails against the "massive power" of Microsoft Corp.

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Sutherland Steam Mill

The Sutherland Steam Mill, situated in Denmark, NS, is a provincial HISTORIC SITE. Most of the early sawmills in NOVA SCOTIA relied on water power, but in the 1890s, when Alexander Sutherland built this mill, steam power was rapidly replacing water power for most industrial uses.

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Minimum Wage

Minimum wage is the lowest hourly wage that an employer is legally permitted to pay to employees. There are 2 sets of minimum-wage laws, reflecting the division of powers between the federal and provincial governments.

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Ocean Mining

Several types of valuable mineral deposits exist under the oceans and other large bodies of water. Where water is shallow, placer deposits can be recovered by large dredges (eg, tin minerals off the coasts of Java and Borneo).

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Mining

Mining is one of Canada’s primary industries and involves the extraction, refining, and/or processing of economically valuable rocks and minerals.

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Minting

The early years saw the Mint efficiently producing gold Sovereigns, Canadian coins and millions of ounces of refined gold. The Mint even produced gun parts for Britain during World War I.

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Monetary Policy

Monetary policy refers to government measures taken to affect financial markets and credit conditions, for the purpose of influencing the behaviour of the economy. In Canada, monetary policy is the responsibility of the Bank of Canada, a federal crown corporation that implements its decisions through manipulation of the money supply.

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Mortgage

A Mortgageis a legal paper in which borrowers agree to surrender their property to a lender if they do not pay back the money they owe, with INTEREST.

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Musgrave

Musgrave. Toronto music dealer and publisher, located in the Yonge St Arcade. The business was opened in 1909 by the brothers Charles E. and George A. Musgrave; about 1914 it was briefly A.L.E. Davies and Musgrave Brothers; after 1926 it was run as Charles E. Musgrave & Son (Edward C.

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Nortel

Nortel Networks Corporation, or simply Nortel, was a public telecommunications and data networking equipment manufacturer. Founded in 1895 as the Northern Electric and Manufacturing Company, it was one of Canada’s oldest technology companies. Nortel expanded rapidly during the dot-com boom (1997–2001), purchasing many Internet technology companies in a drive to remain competitive in the expanding information technology (IT) market. At its height in 2000, the company represented over 35 per cent of the value of Toronto’s TSE 300 index. It was the ninth most valuable corporation in the world and employed about 94,000 people worldwide at its peak. But Nortel soon entered an extended and painful period of corporate downsizing, and in 2009, the company filed for bankruptcy protection in the largest corporate failure in Canadian history. Shareholders, employees and pensioners suffered losses as a result. Company executives, however, were paid a total US$190 million in retention bonuses between 2009 and 2016. Nortel sold off its assets for a total US$7.3 billion. Those assets were scheduled to be distributed to Nortel’s bondholders, suppliers and former employees in 2017.

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Oil Sands

The Canadian oil sands (or tar sands) are a large area of petroleum extraction from bitumen, located primarily along the Athabasca River with its centre of activity close to Fort McMurray in Alberta, approximately 400 km northeast of the provincial capital, Edmonton. Increased global energy demand, high petroleum dependency and geopolitical conflict in key oil producing regions has driven the exploration of unconventional oil sources since the 1970s which, paired with advances in the field of petroleum engineering, has continued to make bitumen extraction economically profitable at a time of rising oil prices. Oil sands are called “unconventional” oil because the extraction process is more difficult than extracting from liquid (“conventional”) oil reserves, causing higher costs of production and increased environmental concerns.

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On to Ottawa Trek

In 1935, residents of federal Unemployment Relief Camps in British Columbia went on strike and traveled by train and truck to Vancouver, Regina and Ottawa to protest poor conditions in the Depression-era camps.