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Business News Summary Headlines

Company releases, economic news, and business coverage.

Cheaper food offsets rising gas prices, easing inflation last month

OTTAWA - The annual pace of inflation ticked higher last month, but the increase was smaller than expected as food prices continued falling, offsetting gas price hikes at the pump.

Statistics Canada said Friday the consumer price index in December was up 1.5 per cent from where it was a year ago, a higher rate of inflation compared with November's increase of 1.2 per cent. Economists had expected a rise of 1.7 per cent year-over-year in December.

Friday, January 20, 2017 | 03:03 PM

Brazil investigates crash that killed Car Wash probe judge

SAO PAULO - Brazilian authorities on Friday were investigating a plane crash that killed the Supreme Court justice in charge of a major corruption case just weeks before he was scheduled to issue a ruling that could have revealed accusations against politicians in several Latin American countries.

The death of Justice Teori Zavascki, 68, in Thursday's crash is likely to delay, though not derail, the "Car Wash" investigation, the largest corruption investigation in Brazil's history. Investigators allege inflated contracts with state oil giant Petrobras and other state-run companies yielded billions of dollars for bribes and election campaigns.

Friday, January 20, 2017 | 01:39 PM

BC Hydro says plan for underground substations leaves scarce land for other uses

VANCOUVER - BC Hydro says it is looking underground as it considers future electricity demand in downtown Vancouver.

The utility says in a news release that it will upgrade electrical infrastructure by proposing to build two new substations underground, leaving the space above available for developments such as schools.

Friday, January 20, 2017 | 01:23 PM

Thee publishers and Apple reach deal to sell ebooks at a discount

TORONTO - Three major publishers have signed an agreement with Canadian competition authorities that will permit retailers to sell the ebooks they publish at a discount a practice limited in some of their contracts.

Publishers Holtzbrinck (doing business as Macmillan), Simon & Schuster, and Hachette signed the agreement with the Competition Bureau, as has Apple, an ebook retailer.

Friday, January 20, 2017 | 01:07 PM

Markets Right Now: Dow starts higher after 5 straight losses

NEW YORK - The latest on developments in financial markets (All times local):

9:35 a.m.

Friday, January 20, 2017 | 09:43 AM

Breakdown of annual inflation rate in December for selected Canadian cities

OTTAWA - Canada's national annual inflation rate was 1.5 per cent in December, Statistics Canada said Friday. The agency also released rates for major cities, but cautioned that figures may fluctuate widely because they are based on small statistical samples (previous month in brackets):

St. John's, N.L., 4.1 per cent (3.8)

Friday, January 20, 2017 | 09:28 AM

Breakdown of December inflation rates for provinces and territories

OTTAWA - Canada's national inflation rate was 1.5 per cent in December, Statistics Canada said Friday. Here's what happened in the provinces and territories (previous month in brackets):

Newfoundland and Labrador, 4.1 per cent (3.6)

Friday, January 20, 2017 | 09:24 AM

China's growth in 2016 slumps as Trump trade struggle looms

BEIJING - China's economic growth sank to a three-decade low in 2016 as its struggling exporters brace for a possible trade battle with President-elect Donald Trump.

Growth in the quarter ending in December ticked up to 6.8 per cent over 2015, supported by government spending and a real estate boom, a gain from the previous quarter's 6.7 per cent, government data showed Friday. Still, for the full year, growth came in at a lacklustre 6.7 per cent, down from 6.9 per cent in 2015 and the weakest since 1990's 3.9 per cent.

Friday, January 20, 2017 | 09:22 AM

Sears, N.B. partner for a 2nd new business centre expected to create 360 jobs

TORONTO - The New Brunswick government and Sears Canada Inc. announced their second partnership this week to open a business centre in the province with the help of millions of dollars of government funding.

The provincial government is providing Sears (TSX:SCC) with about $5.2 million of funding to open its second new business centre in the province.

Friday, January 20, 2017 | 09:00 AM

Paramount inks $1B film co-finance deal with 2 Chinese firms

HONG KONG - Paramount Pictures said Friday it has inked a co-financing deal with two Chinese companies for the Hollywood studio's slate of movies over the next three years.

Under the terms of the deal, Shanghai Film Group and Huahua Media will also set up an office on Paramount's lot later this year, the studio said in a statement.

Friday, January 20, 2017 | 08:38 AM