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Business News Summary Headlines

Company releases, economic news, and business coverage.

Ontario balances budget, but debt rises to $312 billion

TORONTO - Ontario's Liberal government has finally eliminated its deficit, but its debt is rising to new heights.

The province's first balanced budget in a decade gets rid of a deficit that had at one point reached about $20 billion, and the government is projecting that balance will continue through to 2020.

Thursday, April 27, 2017 | 06:29 PM

Judge orders Volkswagen to pay $2.1B in class-action suit over emissions scandal

TORONTO - Members of a Canadian class-action lawsuit against Volkswagen can submit claims for reimbursement starting on Friday after an Ontario court approved a $2.1-billion settlement plan.

The 105,000 people who purchased or leased certain Volkswagen or Audi vehicles with two-litre diesel engines that were caught up in an emissions cheating scandal will each receive a payment between $5,100 and $8,000, wrote Superior Court Justice Edward Belobaba in his judgment Wednesday.

Thursday, April 27, 2017 | 05:56 PM

B.C. Liberal leader says all Canadians involved in U.S. softwood offer balked

VANCOUVER - British Columbia's Liberal leader says everyone involved in a potential softwood lumber agreement said No when the United States offered a "lousy" deal that would have cost her province 20,000 forestry jobs.

Christy Clark said Thursday that talks with former president Barack Obama ended because of opposition by the prime minister, the international trade minister and lumber employers in B.C.

Thursday, April 27, 2017 | 05:43 PM

Industry group raises oil and gas drilling forecast again on price stability

CALGARY - An oil and gas industry group is once again raising its drilling forecast for the year after seeing higher than expected activity.

The Petroleum Services Association of Canada now expects 6,680 wells to be drilled across Canada in 2017, up about 60 per cent from what it had forecast in November.

Thursday, April 27, 2017 | 04:59 PM

Jean Coutu hopes Quebec can reach deal with drugmakers to avoid tendering

MONTREAL - The Jean Coutu Group hopes Quebec can reach an agreement with generic drug manufacturers to reduce drugs costs without resorting to the tendering of certain medications that will hurt its business.

"It's always best when you have a deal with the players of the industry," CEO Francois Coutu said Thursday during a conference call about its latest financial results.

Thursday, April 27, 2017 | 04:56 PM

Canam stock nearly doubles on going-private offer for Quebec-based company

MONTREAL - Canam Group is preparing to end its 33-year run as a public company after partnering with a U.S. company and Quebec investors to take the structural steel specialist private.

After a few years of reflection, the leadership of the company founded in 1960 concluded that the constraints of being public not longer fit with its vision.

Thursday, April 27, 2017 | 04:53 PM

Most actively traded companies on the TSX

Some of the most active companies traded Thursday on the Toronto Stock Exchange:

Toronto Stock Exchange (15,506.47, down 143.07 points):

Thursday, April 27, 2017 | 04:46 PM

Toronto stock index drops sharply, U.S. benchmarks make small gains

TORONTO - Slumping oil prices and an ongoing scandal involving a Canadian mortgage lender dragged down the Toronto Stock Exchange's main index, which shed nearly 150 points.

The S&P/TSX composite index fell 143.07 points to 15,506.47 for a two-day loss of 238.72 points.

Thursday, April 27, 2017 | 04:43 PM

Five things to know about the Ontario budget delivered Thursday

TORONTO - Ontario's Liberal government delivered its first balanced budget in a decade on Thursday. Here are five things you need to know about the financial plan:

POLITICAL CONTEXT: The $141-billion budget which includes measures aimed at youth, seniors, parents, homeowners and anyone who uses the health-care system comes as the provincial Liberals prepare for next year's election campaign. The party, which has been at the helm for 14 years, has seen its popularity falter in recent polls.

Thursday, April 27, 2017 | 04:35 PM

Highlights of the Ontario budget unveiled Thursday

TORONTO - Ontario's finance minister delivered the province's fiscal plan Thursday, the government's first balanced budget in a decade. Here are the highlights:

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Thursday, April 27, 2017 | 04:12 PM