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Business News Summary Headlines

Company releases, economic news, and business coverage.

BRP vows to remain in Mexico even if Trump's withdrawal from NAFTA raises tariffs

MONTREAL - The maker of Ski-Doos, personal watercraft and off-road vehicles says it will maintain low-cost production in Mexico even if Donald Trump withdraws from NAFTA.

BRP Inc. (TSX:DOO) says it expects to take a $20-million to $25-million hit if tariffs are restored on more than $1 billion of goods traded annually between Mexico and the United States.

Friday, December 09, 2016 | 12:37 PM

Alberta Crown drilling rights auctions deliver lowest payoff in 39 years

CALGARY - Sales of Crown drilling rights in Alberta have fallen to their lowest levels in 39 years.

Statistics posted on the Alberta Energy website this week, following the last auction of 2016, show that oil and gas producers paid $137 million this year for the right to drill oil and gas wells on land where the province owns the mineral rights.

Friday, December 09, 2016 | 12:27 PM

Consumer debt and delinquency rates climb in third quarter: Equifax

TORONTO - A new Equifax Canada report says low interest rates and falling oil prices drove up consumer debt and delinquency rates in the third quarter.

The credit reporting agency found that average debt not including mortgages increased by 3.6 per cent to $22,081 in the quarter endedSept. 30 compared to the same period last year.

Friday, December 09, 2016 | 12:16 PM

'Buy American': Trump wants domestic procurement in big infrastructure bill

WASHINGTON - Donald Trump has made clear he wants buy-American rules in the massive infrastructure program he's planning, launching an ardent defence of domestic-purchase requirements that can cause tensions with other countries.

Critics of such buy-American provisions say it not only freezes out foreign competition, but hurts Americans too, by driving up the cost of construction, which means taxpayers get fewer roads and bridges for their buck and fewer construction jobs in the long run.

Friday, December 09, 2016 | 11:46 AM

Michigan lets autonomous cars on roads without human driver

DETROIT - Companies can now test self-driving cars on Michigan public roads without a driver or steering wheel under new laws that could push the state to the forefront of autonomous vehicle development.

The package of bills signed into law Friday comes with few specific state regulations and leaves many decisions up to automakers and companies like Google and Uber.

Friday, December 09, 2016 | 11:10 AM

US wholesalers cut stockpiles, clearing way for new orders

WASHINGTON - U.S. wholesale businesses cut back their stockpiles while sales rose in October. That's a trend that could boost demand for factory goods in the months ahead.

The Commerce Department says that wholesale inventories fell 0.4 per cent, the largest drop in eight months. Sales rose 1.4 per cent.

Friday, December 09, 2016 | 10:01 AM

Quebec to offer lumber companies loan guarantees even without Ottawa

Quebec has committed to providing loan guarantees to companies adversely affected by the softwood lumber dispute with the United States, even if the federal government doesn't come on board.

Premier Philippe Couillard confirmed the establishment of a system, if necessary, in response to a question Thursday from Opposition leader Jean-Francois Lisee.

Friday, December 09, 2016 | 08:59 AM

Medical clinic collects too much personal info through surveillance: B.C. audit

VANCOUVER - British Columbia's privacy office is calling on a medical clinic to immediately stop collecting video and audio of patients, employees and contractors because it is not legally authorized to do so.

Acting privacy commissioner Drew McArthur said an audit of the clinic in the Lower Mainland was the first of a private business in B.C. and began after a complaint was filed.

Thursday, December 08, 2016 | 06:22 PM

Lightstream Resources asset sale to creditor-owned firm wins court approval

CALGARY - Oil and gas producer Lightstream Resources Ltd. says it has court approval to sell its assets to a new company that will be owned by its creditors.

The sale to newly created private firm Ridgeback Resources Inc. is to close by Dec. 29 and represents the final act of the company which will then be wound down.

Thursday, December 08, 2016 | 06:07 PM

Trump picks fast food executive Andrew Puzder for Labour

WASHINGTON - President-elect Donald Trump plans to add another wealthy business person and elite donor to his Cabinet, saying he would nominate fast-food executive Andrew Puzder as labour secretary.

Puzder heads CKE Restaurants Holdings, the parent company of Carl's Jr., Hardee's and other chains. In 2010, he published a book called "Job Creation: How it Really Works and Why Government Doesn't Understand It."

Thursday, December 08, 2016 | 05:34 PM