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Business News Summary Headlines

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Amaya hikes 2016 adjusted earnings estimates, announces CFO's plan to retire

MONTREAL - Amaya Inc. (TSX:AYA) is raising its estimate for 2016 adjusted net earnings by about six per cent, compared with guidance it issued in November.

The Montreal-based company which owns PokerStars and other online gambling sites says it now estimates 2016 adjusted net earnings will be between US$364 million and US$374 million.

Friday, January 20, 2017 | 08:29 AM

Royal LePage reports sharp rise in American interest in Canadian real estate

TORONTO - A new report from Royal LePage suggests many Americans who oppose incoming president Donald Trump continue showing a desire to purchase property in Canada.

In a report released early Friday, the company says American web traffic on its website surged 329 per cent the day after the U.S. election on Nov. 8 and has climbed 210.1 per cent year-over-year the week after Trump's victory.

Friday, January 20, 2017 | 04:59 AM

Global shares steady ahead of Trump's inauguration

KUALA LUMPUR, Malaysia - Global shares were steady in cautious trading Friday ahead of the inauguration of President-elect Donald Trump. China's report that its economy grew at a 6.8 per cent pace in October-December was in line with expectations.

KEEPING SCORE: Germany's DAX was steady at 11,599.05. The CAC 40 of France added 0.2 per cent to 4,848.81. Britain's FTSE 100 lost 0.5 per cent to 7,208.44. Wall Street looked headed for a subdued start, with the future for the Dow Jones industrial average down 0.1 per cent and the S&P 500 future up 0.2 per cent.

Friday, January 20, 2017 | 04:13 AM

Tim Hortons, Burger King plan to launch app in latest push towards automation

TORONTO - The parent company of Tim Hortons and Burger King plans to launch an app Canada-wide this spring that would allow customers to order and pay in advance on their smartphone without lining up to pay a cashier.

The move by Restaurant Brands International (TSX:QSR) follows a similar one by Starbucks and is the latest push towards more automation in the food service industry.

Friday, January 20, 2017 | 04:00 AM

'Dance Moms' star's 2-day sentencing hearing set to begin

PITTSBURGH - "Dance Moms" reality TV star Abby Lee Miller is scheduled to appear in Pittsburgh federal court Friday for the start of her sentencing hearing in her bankruptcy fraud case.

The two-day hearing won't wrap up until Feb. 24. It was scheduled so numerous witnesses could address a key question: Did Miller intend to cheat her creditors when she hid $775,000 in income from a bankruptcy court.

Friday, January 20, 2017 | 01:16 AM

Trump expects 'big results' from his choice to lead USDA

WASHINGTON - Donald Trump said Thursday that he expects that former Georgia Gov. Sonny Perdue, his choice to lead the Agriculture Department, will "deliver big results for all Americans who earn their living off the land."

Agriculture secretary was the final Cabinet post to be announced by Trump, who is set to take office Friday.

Thursday, January 19, 2017 | 11:40 PM

Samsung to announce cause of Galaxy Note 7 fire on Jan. 23

SEOUL, Korea, Republic Of - Samsung Electronics said Friday it will announce on Jan. 23 the reason why its Galaxy Note 7 smartphones overheated and caught fire.

The announcement will be livestreamed in Chinese, English and Korean on its websites. Koh Dong-jin, Samsung's mobile president, will give details of the probe.

Thursday, January 19, 2017 | 10:22 PM

Treasury pick defends foreclosure actions, asset disclosure

WASHINGTON - Steven Mnuchin, President-elect Donald Trump's pick as Treasury secretary, clashed with Democrats during a lengthy confirmation hearing Thursday over his handling of thousands of mortgage foreclosures and his failure to initially disclose to the committee nearly $100 million in assets and interests in a Cayman Islands corporation.

Mnuchin said the failure to disclose the assets was an oversight that he had corrected when it was brought to his attention by staffers of the Senate Finance Committee. He said he had followed the advice of a lawyer who believed the disclosures were not necessary.

Thursday, January 19, 2017 | 07:16 PM

Car makers concerned about Trump, says Canadian innovation minister

OTTAWA - Automakers on both sides of the border fear the potential negative effects of a Donald Trump presidency, Canada's economic development minister said Thursday as he met with international business and political leaders in Switzerland.

Navdeep Bains said he's been having nervous conversations with concerned automakers, both at the recent auto show in Detroit and during his current visit to the World Economic Forum in Davos.

Thursday, January 19, 2017 | 06:17 PM

Energy pick vows to boost agency he had pledged to eliminate

WASHINGTON - Former Texas Gov. Rick Perry, tapped by President-elect Donald Trump to head the Energy Department, vowed to be an advocate for an agency he once pledged to eliminate and promised to rely on federal scientists, including those who work on climate change.

Perry told a Senate committee on Thursday that he regrets his infamous statement about abolishing the department and insisted it performs critical functions, particularly in protecting and modernizing the nation's nuclear stockpile.

Thursday, January 19, 2017 | 05:57 PM