Posts

Showing posts from August, 2017

Vancouver a great city to set up a tech company

Image
A report by Commercial Real Estate Research(CBRE) found that of 50 US and Canadian markets, Vancouver was the cheapest city to start up a new tech company.
CBRE has afull time staff of about 30 researchers spread across Canada. A typical tech company setting up in Vancouver would cost about $24 million a year US to cover both employee salaries and rent in Vancouver. In contrast the same company in the San Francisco Bay area, the most expensive area, would cost $67 million more than twice as much. CBRE, Research Director, Colin Yasukochi said that the lower start up costs in Vancouver are due in part to the lower-priced Canadian dollar, but also more favourable immigration policies, and lower rental rates than many major US tech centers play a significant role. Yasukochi said: "I think there's a better supply demand balance in Canada with regard to the account workforce and the demand for it." The average salary of a tech worker in Vancouver is $79,402 a year which is $34…

Canadian company Bombardier considering options for its train business

Image
The Quebec-based Canadian company Bombardier says that it is considering `multiple options` for its train business as the unit continues to provide strong profits and sales, enabling the company to break even in its latest quarterly results.
Overall, the Montreal-based company that makes mainly planes and trains used up $570 million US in the quarter that ended June 30. While the company lost $296 million or 13 cents per share this was an improvement over the same period last year when they lost $24 million or 24 cents a share. However, revenue fell 5 percent to $4.09 billion. However if special charges such as employee severance, and also benefits from a tax adjustment are considered, analysts had expected the company to post a one cent loss per share. Instead the company broke even. Investors were actually buoyed by the results with shares up 5.4 percent on Friday AM to $2.54. This is a rise of 63 percent from its low of $1.56 last September. Alain Bellemare the CEO said of the trai…