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Business News Summary Headlines

Company releases, economic news, and business coverage.

TSX, Wall Street finish flat amid lower commodities, disappointing earnings

TORONTO - Signs that the Bank of Canada is open to the idea of an interest rate cut sent the loonie down more than a half a cent Thursday, as worries grew that the Canadian dollar will continue to face negative pressure over the short-term.

The loonie lost 0.55 of a cent to 75.63 cents US, a day after the central bank said slashing the rate is one of the options up for consideration amid a weak economic outlook.

Thursday, October 20, 2016 | 05:18 PM

Harry Rosen reflects on building brand loyalty, keys to retail success

TORONTO - Menswear giant Harry Rosen is supposed to be retired.

But on a recent weekday afternoon, he's found in his 16th floor Bloor Street office, surrounded by files for the various causes he fundraises for.

Thursday, October 20, 2016 | 04:17 PM

Computer "scalper bots" that scoop up concert tickets to be outlawed in Ontario

TORONTO - Computer "scalper bots" that scoop up huge blocks of tickets to concerts and major sporting events, forcing customers to the more expensive resale market, could soon be outlawed in Ontario.

Attorney General Yasir Naqvi says the government plans to introduce legislation next spring that would make it illegal to use sophisticated computer software for bulk ticket purchases.

Thursday, October 20, 2016 | 04:07 PM

Energy East pipeline 'will happen,' but taking too long:Arthur Irving

HALIFAX - The chairman of Irving Oil confidently predicted Thursday the proposed Energy East Pipeline still being examined by federal regulators "will happen," though he thinks the process is taking too long.

Arthur Irving said Thursday that Alberta's struggling economy urgently needs the pipeline to transport its crude oil, and his firm is eager to partner with TransCanada (TSC:TRP) to build a deepwater terminal in the Bay of Fundy.

Thursday, October 20, 2016 | 03:58 PM

France warns UK premier of tough time ahead in Brexit talks

BRUSSELS - France warned Britain at the start of a European Union summit on Thursday that it would face a tough, unyielding opponent if it sought too many concessions during its negotiations to leave the 28-nation EU.

British Prime Minister Theresa May, who was attending her first EU summit as leader, was expected to brief her European counterparts on the way ahead for Britain's exit from the trade bloc. Many uncertainties about the divorce remain because Britain has yet to trigger the two-year negotiations for "Brexit" and is unlikely to do so until the end of March.

Thursday, October 20, 2016 | 03:56 PM

Local TV news coverage more important than station finances, says CRTC chair

OTTAWA - TV stations have a responsibility to produce local news, even if it hurts their bottom line, the head of the country's broadcast regulator told a Commons committee Thursday.

Financial profits aren't everything, said Jean Pierre Blais, chairman of the Canadian Radio-television and Telecommunications Commission. He lamented the "disturbing number of television stations" that have cut staff, centralized operations and reduced the length of their newscasts.

Thursday, October 20, 2016 | 03:52 PM

Finance Department says Morneau to deliver fall economic update Nov. 1

OTTAWA - Finance Minister Bill Morneau is to deliver his fall economic update to the House of Commons on Nov. 1.

These updates typically contain little more than fresh economic and fiscal projections, although in the past they have included budgetary measures.

Thursday, October 20, 2016 | 03:26 PM

PM Trudeau on hand as Amazon Canada opens new Brampton, Ont., warehouse

BRAMPTON, Ont. - Prime Minister Justin Trudeau was on hand Thursday for the official opening of Amazon Canada's new warehouse and distribution centre in Brampton, Ont.

Trudeau says the high-tech facility will create more than 700 full-time jobs.

Thursday, October 20, 2016 | 02:46 PM

5 Energy Stocks to Watch for Gains This Earnings Season

Thursday, October 20, 2016 | 02:40 PM

A look at some of this year's blows to Canada's print media industry

TORONTO - Canada's print media landscape has suffered more than its fair share of casualties this year, with buyouts and layoffs a common recurrence in the industry. On Thursday, Postmedia announced it plans to reduce its salary expenses by 20 per cent through voluntary staff buyouts, though it acknowledged layoffs are possible if its target isn't met.

Here's a look at some of the other blows sustained by the print media sector in 2016:

Thursday, October 20, 2016 | 02:02 PM