TVA Group cutting 68 positions in bid to reduce costs blames unfair

MONTREAL — TVA Group is cutting 68 positions as it looks to reduce operating expenses.The company blamed what it called “numerous” unfair practices that have undermined the television industry.TVA called for changes to help modernize the system, including changes to subscription fees for specialty channels and a refocusing of CBC/Radio-Canada’s mandate to make its programming complementary to the private broadcasters.The company also says sales tax and income tax should apply to Netflix and other businesses, foreign and domestic, physical and virtual.Quebecor, TVA’s corporate parent, was embroiled in a dispute with Bell earlier this year over the royalties paid to specialty channels.The company criticized Bell for not paying it royalties that reflect the fair value of its specialty channels, especially TVA Sports. Companies in this story: (TSX:TVA.B, TSX:QBR.B, TSX:BCE) The Canadian Press read more

Billions change hands as April home sales set record in British Columbia

VANCOUVER — More property sales records tumbled in April according to the British Columbia Real Estate Association.A release from the association says a record 12,969 homes were sold last month in B.C., a 30 per cent increase over the same period last year.Sales also eclipsed the record of 12,560 units set in March.Is it time to tax foreign property owners? CIBC economist weighs inHousing critic questions how ‘student’ can afford $31.1 million mansion in VancouverThe release says $9.64 billion changed hands in April, a leap of almost 53 per cent compared to April 2015.Year-over-year sales dollar volume rocketed to $31.2 billion, up 64 per cent.The real estate association reports the average price of a home in B.C. nudged $744,000 last month, a 17 per cent hike in one year.“Housing demand is exceptionally strong across the southern regions of the province,” said Cameron Muir, BCREA chief economist.The Vancouver Island, Fraser Valley and Thompson/Okanagan regions are particularly active, he said.Modest movement away from Vancouver came as sky-high prices and a lack of properties were blamed by the Canadian Real Estate Association for a minor sales dip in the city in March, but experts see no end to healthy sales in B.C.“Strong employment growth is helping underpin consumer confidence,” said Muir.The BCREA points to statistics showing the provincial economy employed more than 78,000 additional workers during the first four months of 2016, up 3.5 per cent compared to last year. read more