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Business News Summary Headlines

Company releases, economic news, and business coverage.

Japan's economic growth in July-Sept revised to 1.3 per cent

TOKYO - Japan's economy grew 1.3 per cent in July to September from a year earlier, according to revised data reflecting weaker business investment and exports.

It was the third-straight quarter of expansion, but well below forecasts by most economists of an upward revision. The preliminary estimate put annual growth at 2.2 per cent in the last quarter.

Thursday, December 08, 2016 | 08:13 AM

Congress cracks down on 'bots' that snap up concert tickets

WASHINGTON - Congress sent legislation to President Barack Obama that could make it easier to get tickets to popular shows, sports events and concerts.

Legislation passed by voice vote in the House on Wednesday would crack down on computer software used by some ticket brokers to snap up tickets. The so-called "bots" rapidly purchase as many tickets as possible for resale at significant markups, and are one of the reasons why tickets to a Bruce Springsteen concert or "Hamilton" performance can sell out in just a few minutes.

Thursday, December 08, 2016 | 08:00 AM

Trump chooses former WWE exec McMahon for small business

WASHINGTON - President-elect Donald Trump is adding former wrestling executive Linda McMahon to his Cabinet as leader of the Small Business Administration.

McMahon and her husband, Vince, founded and built World Wrestling Entertainment Inc., now a publicly traded sports entertainment company. She stepped down as the company's chief executive in 2009 and earlier this year launched a joint venture, Women's Leadership LIVE, which promotes opportunities for women in business and public service.

Wednesday, December 07, 2016 | 09:05 PM

Commercial real estate sales hit quarterly record as investors hunt yields

CALGARY - Real estate firm CBRE says Canada hit a record level for commercial real estate sales in the third quarter and is on track to beat an annual record set during the 2007 boom.

The firm says sales of office space, apartments, land and other commercial properties hit $11.2 billion in the quarter ended Sept. 30 and forecast that for the full year there will be more than $35 billion in deals across the country to surpass the current $32.1-billion record.

Wednesday, December 07, 2016 | 05:33 PM

Dow Jones, S&P 500 rallies to record highs; TSX racks up 100 points

TORONTO - Major North American stock markets pushed higher Wednesday, with the Dow Jones and S&P 500 hitting all-time records, as anticipation continued to build over the corporate policies of incoming U.S. president-elect Donald Trump.

In New York, the Dow Jones industrial average surged 297.84 points at 19,549.62, while the S&P 500 added 29.12 points at 2,241.35. The tech-heavy Nasdaq composite gained 60.76 points at 5,393.76.

Wednesday, December 07, 2016 | 05:09 PM

Dollarama says China's soft economy helping to offset currency challenge

MONTREAL - Dollarama says China's soft economy is helping the discount retailer offset the challenges of a weakened Canadian dollar and higher freight costs.

"The Chinese economy does remain soft from our perspective, which provides us with some opportunities to purchase goods at favourable prices to offset some of these headwinds," CEO Neil Rossy said Wednesday in a conference call to discuss the company's third-quarter results.

Wednesday, December 07, 2016 | 03:09 PM

Consumers boost borrowing $16 billion in October

WASHINGTON - Consumers increased their borrowing in October at the slowest pace in four months as growth in credit card debt and the category that covers auto loans and student loans slowed.

The Federal Reserve says total borrowing rose $16 billion after a $21.8 billion increase in September. The October increase was the smallest since a gain of $14.5 billion in June.

Wednesday, December 07, 2016 | 03:09 PM

A look at the five women in contention to grace the front of the next banknote

TORONTO - Finance Minister Bill Morneau and Bank of Canada governor Stephen Poloz will announce Thursday which Canadian woman will be the first to grace the front of a banknote. Here's a look at the five women in contention:

Viola Desmond, 1914-1965:

Wednesday, December 07, 2016 | 01:22 PM

TransCanada to proceed with $655-million northern Alberta natural gas pipeline

CALGARY - TransCanada Corp. says it's moving ahead with a $655-million expansion of its Nova Gas Transmission Ltd. system in northwestern Alberta.

The company (TSX:TRP) says the Saddle West Expansion Project will add 29 kilometres of pipeline capacity to existing routes, as well as five compressor units, that together will increase the capacity of the system by about 355 million cubic feet per day.

Wednesday, December 07, 2016 | 01:08 PM

UK steel jobs safe after multinational commits to plants

LONDON - A deal between multinational Tata Steel and unions secured some 8,000 jobs across Britain on Wednesday in an agreement that ended months of uncertainty for steelworkers and their families.

Tata pledged to keep two blast furnaces operating for five years and to invest in the massive plant in Port Talbot, in south Wales. Compulsory redundancies will be avoided.

Wednesday, December 07, 2016 | 12:58 PM