Home > News & Features > Business News > Business News Summary Headlines

Business News Summary Headlines

Company releases, economic news, and business coverage.

Alberta Energy Regulator says will appeal Redwater case to Supreme Court

CALGARY - The Alberta Energy Regulator said Friday it will appeal to the Supreme Court of Canada a case that pits creditors' rights to oil and gas assets against environmental liabilities.

The lawsuit involving bankrupt Redwater Energy Corp. has been closely watched as a precedent-setting case, as financial difficulties continue to afflict the oil and gas industry after more than two years of low commodity prices.

Friday, April 28, 2017 | 02:56 PM

Federally-backed study on social impact of arts to be used to justify funding

OTTAWA - As the federal government looks to new ways to fund social programs, the arts community is looking for new ways of its own to justify why it deserves money.

Officials in the arts sector and Canadian Heritage quietly decided last year they need to measure social impacts of investments in culture and the arts, such as their effects on well-being, and willingness to pay for a show or service.

Friday, April 28, 2017 | 01:29 PM

Correction: Exploding Air Bags-New Problem story

LAS VEGAS - In a story April 19 about a woman injured by an exploding air bag inflator, The Associated Press reported erroneously that there is no federal law prohibiting salvage yards from selling recalled parts taken out of wrecked cars. A law prohibiting this was passed in 2000, although it is seldom enforced.

A corrected version of the story is below:

Friday, April 28, 2017 | 01:05 PM

Ottawa runs $11.5B deficit over first 11 months of 16-17 fiscal year

OTTAWA - The federal government ran a deficit of $11.5 billion over the first 11 months of its 2016-17 fiscal year, putting it well ahead of its spring budget forecast with one month to go.

The result compared with a surplus of $7.5 billion during the April-to-February period a year earlier.

Friday, April 28, 2017 | 12:10 PM

Trump tower fated not to rise in Indonesian isle of the gods

TANAH LOT, Indonesia - Thousands of people flock daily to the centuries-old, sacred Hindu temple at Tanah Lot, a rock formation that juts into the Indian Ocean. An island at high tide and flanked by sheer cliffs, it's among Bali's most photographed sites, particularly for the mesmerizing sunsets that transform the waters into a shimmering orange vista.

It's getting a new neighbour, described as "Trump International Hotel and Tower" in the Trump Organization's promotions for what will be its first resort in Asia. They promise breathtaking views, a super-sized golf course overlooking the temple and an "enchanting and unrivaled getaway from the current luxury hotels" in Bali. For those weary of mere five-star opulence, it offers six.

Friday, April 28, 2017 | 11:16 AM

Trump finds that CEO-as-president isn't always a natural fit

WASHINGTON - Donald Trump won the White House by arguing that what America needed was a president who had proved himself as a steely and successful corporate leader with no political baggage someone, say, like himself.

If Abraham Lincoln relied on a team of rivals, Trump would command a team of "killer" CEOs. He cast himself as a gifted manager who could rewrite flawed trade deals, bridge gaps between Democrats and Republicans, work financial magic on the tax code and restore prosperity to devastated factory towns.

Friday, April 28, 2017 | 10:48 AM

AP FACT CHECK: Claims about Trump's tax plan don't hold up

WASHINGTON - Getting to the bottom of President Donald Trump's tax plan is difficult because it exists so far as bullet points on a single page, with no detail. Still, there are reasons to be wary about some of the claims coming out of the White House about it.

CLAIM: TAX CUT IS BIGGEST EVER

Friday, April 28, 2017 | 10:46 AM

Canadian gross domestic product flat in February after hot start to 2017

OTTAWA - Canadian economic growth took a pause in February after the break-neck pace seen at the start the year.

Statistics Canada said Friday gross domestic product was unchanged in February, matching the expectations of economists, according to Thomson Reuters.

Friday, April 28, 2017 | 10:34 AM

US employment costs climbed steadily in first quarter

WASHINGTON - Wages and benefits paid to U.S. civilian workers grew steadily in the first three months of the year.

The Employment Cost Index, which tracks wages and benefits, was up 0.8 per cent in the first quarter, the Labor Department said Friday, That's the biggest quarterly growth since December 2007 and slightly faster than the 0.5 per cent growth in the last quarter of 2016.

Friday, April 28, 2017 | 09:46 AM

Russian prosecutors seek 3 1/2 years for 'Pokemon Go' blogger

MOSCOW - Russian prosecutors requested a 3 1/2 year prison sentence Friday for a blogger charged with inciting religious hatred for playing "Pokemon Go" in a church.

Prosecutors made the request as the trial of Ruslan Sokolovsky, 22, wrapped up in the city of Yekaterinburg. A judge said a verdict in the case would be issued May 11.

Friday, April 28, 2017 | 09:40 AM