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Business News Summary Headlines

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Global stocks steady as Fed minutes fail to sway investors

LONDON - Global stock markets were trading in narrow ranges Thursday after the minutes to the last policymaking meeting of the Federal Reserve failed to provide much of a steer as to the timing of the U.S. central bank's next interest rate increase.

KEEPING SCORE: In Europe, the FTSE 100 index of leading British shares was down 0.1 per cent at 7,294 while Germany's DAX fell 0.2 per cent to 11,981. The CA 40 in France bucked the trend somewhat to trade 0.1 per cent higher at 4,890. U.S. stocks were poised for a steady opening with Dow futures and the broader S&P 500 futures unchanged.

Thursday, February 23, 2017 | 07:38 AM

Hawaii bill would ban licenses for some foreign fishermen

HONOLULU - Hawaii lawmakers are considering a proposal with the potential to cripple the state's commercial fishing industry after an Associated Press investigation found foreign fishermen confined to boats and living in subpar conditions.

A 2016 AP investigation found that some fishermen earned less than $1 an hour and worked without most basic labour protections while catching premium seafood. The boats often have crews of fishermen from Southeast Asia and Pacific Island nations, and the men are restricted to their vessels when docked in Honolulu because they lack proper documentation to enter the U.S.

Wednesday, February 22, 2017 | 10:23 PM

Nobel-winning economist Kenneth J. Arrow dies at 95

PALO ALTO, Calif. - Kenneth J. Arrow, the youngest-ever winner of a Nobel prize for economics, whose theories on risk, innovation and the basic mathematics of markets have influenced thinking on everything from voting to health insurance to high finance, has died. He was 95.

Arrow died Tuesday at his home in Palo Alto, in the San Francisco Bay Area, according to his son, David Arrow.

Wednesday, February 22, 2017 | 10:21 PM

Manitoba entrepreneurs pitch wares to celebrities at Academy Awards

WINNIPEG - A couple of Manitoba entrepreneurs are headed to this weekend's Oscars to pitch their locally made products.

Colleen Dyck of the Great GORP Project and Peter Fehr of Gourmet Inspirations will be handing out their yummy treats in the Celebrity Luxury Gifting Suite at the Academy Awards.

Wednesday, February 22, 2017 | 09:27 PM

Republican US senator: I'm open to subpoena of Trump's taxes

PORTLAND, Maine - U.S. Sen. Susan Collins said on Wednesday she's open to using a subpoena to investigate President Donald Trump's tax returns for potential connections to Russia.

Collins, a Republican who has served as a U.S. senator from Maine since 1997, sits on the Senate Intelligence Committee, which is investigating Russian interference in the 2016 election. She appeared on Maine Public radio to talk about issues including the investigation.

Wednesday, February 22, 2017 | 07:24 PM

Most oil pipeline opponents leave North Dakota protest camp

CANNON BALL, N.D. - Most of the Dakota Access pipeline opponents abandoned their protest camp Wednesday ahead of a government deadline to get off the federal land, and authorities moved to arrest some who defied the order in a final show of dissent.

The camp has been home to demonstrators for nearly a year as they tried to thwart construction of the pipeline. Many of the protesters left peacefully, but police made some arrests two hours after the deadline.

Wednesday, February 22, 2017 | 07:23 PM

NY lawmakers: Cuomo is moving to cut funds to fight cancer

ALBANY, N.Y. - New York Gov. Andrew Cuomo is proposing a $25 million reduction to programs that fight cancer, diabetes and other public health challenges a move intended to eliminate inefficiencies that is being fought by some lawmakers and health advocates who oppose the cuts.

Critics worry the cutbacks in Cuomo's $152 billion budget proposal represent a reversal for a Democratic governor who last year made cancer screenings a key issue after his longtime companion, celebrity chef Sandra Lee, successfully overcame breast cancer.

Wednesday, February 22, 2017 | 06:54 PM

Gucci presents otherworldly fall-winter collection in Milan

Milan fashion designers launched six days of fall-winter fashion previews on Wednesday, as the long-accepted runway format undergoes challenges like never before.

Brands like Gucci and Bottega Veneta sat out last month's menswear previews to combine their efforts this round, while some labels, like Roberto Cavalli, were taking breaks during creative transitions.

Wednesday, February 22, 2017 | 05:24 PM

S&P/TSX composite index loses ground after record rallies, Wall Street mixed

TORONTO - Some stock markets in North America lost ground Wednesday after minutes released by the Federal Reserve from its January meeting indicated the U.S. central bank may raise its key interest rate as soon as next month.

On Bay Street, the Toronto Stock Exchange's S&P/TSX composite index dropped 92.15 points at 15,830.22 after a record-setting session Tuesday. Materials, energy, base metals and gold stocks racked up some of the biggest losses.

Wednesday, February 22, 2017 | 05:17 PM

Paramount Pictures CEO leaving after 12 years

NEW YORK - Paramount Pictures Chairman and CEO Brad Grey is leaving the movie studio after 12 years at the helm.

In a memo to employees, Grey said his duties end effective immediately but he will help his successor transition into the post. Paramount parent Viacom said they are searching for a new CEO.

Wednesday, February 22, 2017 | 04:51 PM