Major Shifts in Canadian Business Landscape

Top Canadian news stories include Onex's acquisition of Farsound Aviation, Nutrien's operational scale-back in Brazil, massive layoffs at Paper Education, and TTC's funding delays. These developments significantly impact the business and transport sectors within Canada.

Onex, a Toronto-based firm, announced its acquisition of the aircraft logistics company Farsound Aviation from a Hong Kong private equity fund. This move underscores Onex's strategic growth plans.

In a setback for the agricultural sector, Nutrien, the world's largest potash producer, is scaling back its operations in Brazil after facing multiple regional challenges, including a $220 million loss due to unauthorized derivatives trades.

Online tutoring company Paper Education has terminated its entire Canadian tutor workforce. This follows significant layoffs at its head office and the replacement of its CEO Philip Cutler.

Rick Leary, the outgoing head of the Toronto Transit Commission (TTC), confirmed delays in securing funding essential to upgrade one of Toronto's aging subway lines, indicating potential future disruptions for commuters.

(With inputs from agencies.)