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Business News Summary Headlines

Company releases, economic news, and business coverage.

Companies raise concerns that new AER reporting could be misleading

CALGARY - Some oil and gas companies are raising concerns that information in a new reporting program launched by the Alberta Energy Regulator could be misleading.

The regulator launched the pipeline performance report web page Tuesday in an effort to make it easier for the public to see which oil and gas companies are falling behind on pipeline safety, and to push companies to improve.

Wednesday, February 22, 2017 | 01:57 PM

National Business Book Award long list revealed

TORONTO - A memoir by Canadian business magnate and philanthropist Charles Bronfman is among the titles longlisted for the National Book Award.

"Distilled: A Memoir of Family, Seagram, Baseball, and Philanthropy" (HarperCollins), co-written by the Montreal-born Bronfman and Howard Green, is among the books in contention for the $30,000 prize.

Wednesday, February 22, 2017 | 01:55 PM

Awards mocking wasteful spending target Ontario government, CRA and B.C. bridge

OTTAWA - Ontario's government, the City of Victoria and Canada Revenue Agency have won awards for wasteful government spending, as judged by the Canadian Taxpayers Federation.

The federation has announced the annual Teddy Government Waste Award winners, handing two of the pig-shaped trophies to the Government of Ontario.

Wednesday, February 22, 2017 | 01:33 PM

CBS rules in prime time, claiming 16 of week's Top 20 shows

NEW YORK - CBS had a gleam in its eye again last week as the network held on to its Nielsen crown. In prime-time viewership, CBS could claim the most-watched show, "NCIS," and another 15 of the Top 20 programs. (Remarkably, six of those CBS shows are freshman series.)

AMC's "The Walking Dead" placed third. NBC's "This Is Us" was ninth. ABC had a pair of entries with "Grey's Anatomy" and "The Bachelor" (14th and 15th, respectively).

Wednesday, February 22, 2017 | 01:24 PM

Curtain call: A look at key events in the Livent Entertainment fraud scandal

TORONTO - The story behind the Livent Entertainment financial fraud scandal is one of deception and defiance that culminated with a spectacular fall from grace for one of Canada's best-known theatre impresarios. Here's a look at key events in the saga:

1989: Livent Entertainment is formed. The theatre production company builds a reputation for putting together smash hits with the success of "Show Boat," "Ragtime" and "The Phantom of the Opera."

Wednesday, February 22, 2017 | 12:34 PM

Americans buy existing homes at fastest pace in a decade

WASHINGTON - Americans shrugged off rising mortgage rates and bought existing homes in January at the fastest pace since 2007. That has set off bidding wars that have pushed up prices as the supply of available homes has dwindled to record lows.

Home sales rose 3.3 per cent in January from December to a seasonally adjusted annual rate of 5.69 million, the National Association of Realtors said Wednesday.

Wednesday, February 22, 2017 | 11:48 AM

Maple Leaf Foods Q4 profit jumps to $76.2 million, dividend going up

MISSISSAUGA, Ont. - Maple Leaf Foods (TSX:MFI) said on Wednesday its net income more than doubled in the fourth quarter and that it will allow its largest shareholder hold a larger stake in the company.

The Toronto-area food processing company said fourth-quarter net income was $76.2 million, or 57 cents per share, up from 24 cents per share or $33.3 million in the same quarter of 2015.

Wednesday, February 22, 2017 | 11:35 AM

Retail sales fall 0.5 per cent in December as holiday shopping slowed

OTTAWA - A weak holiday shopping season took a bite out of retail sales, which were softer than expected in December.

Statistics Canada said Wednesday that retail sales fell 0.5 per cent in December as shops typically associated with the holiday season saw sales fall.

Wednesday, February 22, 2017 | 11:26 AM

Russia military acknowledges new branch: info warfare troops

MOSCOW - Along with a steady flow of new missiles, planes and tanks, Russia's defence minister said Wednesday his nation also has built up its muscle by forming a new branch of the military information warfare troops.

Sergei Shoigu's statement which came amid Western allegations of Russian hacking marked the first official acknowledgement of the existence of such forces.

Wednesday, February 22, 2017 | 11:23 AM

Freshii heads across the pond to United Kingdom

TORONTO - Freshii Inc. says it is taking its healthy-food eateries across the pond to the United Kingdom.

The Toronto-based eatery has partnered with a local Starbucks and Domino's Pizza franchisee, Anil Patil, who operates 40 and 20 locations of each chain respectively.

Wednesday, February 22, 2017 | 11:05 AM