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Business News Summary Headlines

Company releases, economic news, and business coverage.

A look at what minimum-wage workers get paid across Canada

The Manitoba government is set to announce a new minimum wage after a labour-management committee failed to reach a consensus on what should happen to the $11 hourly rate. Here's a look at what minimum-wage workers are paid across the country:

Alberta $12.20 an hour, rising to $13.60 this year and reaching $15 an hour on Oct. 1, 2018.

Friday, April 28, 2017 | 04:57 PM

Cameco posts bigger Q1 loss than expected as uranium market rut drags on

SASKATOON - Cameco Corp. (TSX:CCO) posted a worse-than-expected first-quarter loss Friday as it felt the latest effects of the Fukushima Daiichi nuclear disaster that occurred in 2011.

The results pushed the company's already depressed stock price down $1.19 or 8.33 per cent to $13.09.

Friday, April 28, 2017 | 04:56 PM

Bombardier faces lengthy legal battle with Boeing that could hurt CSeries sales

MONTREAL - Bombardier faces a lengthy legal battle with Boeing after the aerospace giant filed a complaint with the U.S. government and the process could hurt sales of the new CSeries commercial jet, say trade experts and industry analysts.

While the outcome of the case is uncertain, they said the Montreal-based company's efforts to sell the plane into the American market could be hampered by the prospect of preliminary duties resulting from Boeing's anti-dumping petition.

Friday, April 28, 2017 | 04:54 PM

New Brunswick announces efforts to fight for continued Atlantic tariff exemption

FREDERICTON - The New Brunswick government is calling for an immediate start to negotiations between Canada and the United States to ensure softwood lumber from Atlantic Canada is exempt from countervailing duties.

Provincial governments in the region have warned that the duties could lead to mill closures and lost jobs.

Friday, April 28, 2017 | 04:51 PM

US economy expanded at weakest pace in 3 years

WASHINGTON - The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result fell far short of President Donald Trump's ambitious growth targets and underscores the challenges of accelerating economic expansion.

The gross domestic product, the total output of goods and services, grew by just 0.7 per cent in the first quarter following a gain of 2.1 per cent in the fourth quarter, the Commerce Department reported Friday.

Friday, April 28, 2017 | 04:40 PM

Home Capital troubles may translate to higher interest rates for some borrowers

TORONTO - Troubles at Home Capital Group may translate to higher mortgage rates for less creditworthy borrowers if concerns about the sector increase funding costs for other subprime lenders, experts say.

"Inevitably this will likely effect all lenders in the alternative space as it puts the spotlight on the risk, and questions the integrity of some of the mortgages they are lending on," said Steve Pipkey co-founder of Vancouver-based Spin Mortgage.

Friday, April 28, 2017 | 04:39 PM

Alex Acosta sworn in as US labour secretary

WASHINGTON - Vice-President Mike Pence swore in Alex Acosta as the nation's new labour secretary Friday, filling out President Donald Trump's Cabinet as he approaches his 100th day in office.

The oath-taking came after the Senate's 60-38 confirmation vote Thursday, in which eight Democrats and one independent joined Republicans in voting yes.

Friday, April 28, 2017 | 04:38 PM

Liberals seeking trade deal with powerful Latin American trading bloc

OTTAWA - The federal government is reviving efforts to negotiate a trade agreement with a major Latin American trading bloc.

The Global Affairs Department has opened consultations on a potential deal with Mercosur the customs union of Argentina, Brazil, Paraguay and Uruguay.

Friday, April 28, 2017 | 04:20 PM

Imperial Oil CEO defends absence from oilsands consolidation trend

CALGARY - CEO Rich Kruger said Friday his company has not been idle while other major Canadian producers snapped up oilsands assets from foreign rivals over the past year.

The head of Imperial Oil (TSX:IMO) said the Calgary-based company, one of the top four oilsands producers in Canada, has been busy building and commissioning its Kearl oilsands mining project where the first phase started in 2013 and the second phase in 2015. It has also been dealing with operational issues at its Nabiye steam-driven oilsands project, which started production in 2015.

Friday, April 28, 2017 | 03:28 PM

Orchard owners look to robots as labour shortage worsens

SPOKANE, Wash. - Harvesting Washington state's vast fruit orchards each year requires thousands of farmworkers, and many of them work illegally in the United States.

That system eventually could change dramatically as at least two companies are rushing to get robotic fruit-picking machines to market.

Friday, April 28, 2017 | 03:10 PM