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Business News Summary Headlines

Company releases, economic news, and business coverage.

US employers post fewer jobs, though openings stay healthy

WASHINGTON - U.S. employers posted fewer jobs in October than the previous month, but job openings are still at a mostly healthy level that points to steady hiring ahead.

Job openings slipped 1.8 per cent to 5.5 million, the Labor Department said Wednesday . Hiring also fell to just under 5.1 million, while the number of people quitting declined to about 3 million.

Wednesday, December 07, 2016 | 12:32 PM

Bank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economy

OTTAWA - The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face "undiminished" uncertainty.

In making the scheduled announcement Wednesday, the central bank said its decision also came as the economic environments in Canada and abroad had largely moved forward in line with its expectations.

Wednesday, December 07, 2016 | 12:06 PM

Notley won't weigh in on B.C. election after meeting anti-pipeline NDP leader

VANCOUVER - For Alberta Premier Rachel Notley, pipeline politics begin and end at home.

Her support of Kinder Morgan Canada's $6.8-billion Trans Mountain pipeline expansion has put her at odds with British Columbia's Opposition NDP Leader John Horgan, and on Tuesday she declined to endorse a candidate in the province's upcoming election.

Wednesday, December 07, 2016 | 09:01 AM

EU fines 3 banks $520 million over rate market rigging

BRUSSELS - European Union regulators on Wednesday fined banks JPMorgan Chase, HSBC and Credit Agricole a combined $520 million for colluding to manipulate the price of financial products linked to interest rates.

EU antitrust Commissioner Margrethe Vestager said the banks illegally exchanged sensitive information and colluded to make big profits in the market on the specialized financial products.

Wednesday, December 07, 2016 | 08:41 AM

Study: Thousands of Bangladesh kids working 64 hours a week

DHAKA, Bangladesh - Thousands of Bangladeshi children who live in the capital's slums are working illegally for an average of 64 hours a week, with many employed by the garment industry making clothing for top global brands, according to a report released Wednesday.

The report by the London-based Overseas Development Institute found that 15 per cent of children aged 6-14 were not attending school so they could work full time.

Wednesday, December 07, 2016 | 08:40 AM

Pfizer fined for hiking epilepsy drug price 2,600 pct in UK

LONDON - British regulators fined U.S. drugmaker Pfizer and distributor Flynn Pharma a record 89.4 million pounds ($112.7 million) Wednesday for increasing the cost of an epilepsy drug by as much as 2,600 per cent.

Pfizer and Flynn Pharma charged "excessive and unfair prices" for the drug used by 48,000 people in Britain, the Competition and Markets Authority said. Pfizer was fined 84.2 million pounds and Flynn Pharma 5.2 million pounds.

Wednesday, December 07, 2016 | 08:31 AM

Drake tops iTunes' year-end music lists

NEW YORK - Drake was all over Apple Music this year, so perhaps no surprise the rapper tops the iTunes music lists as well.

Drake's album "Views" was the bestseller in iTunes, while his hit "One Dance" was the most popular single. Drake debuted his album on Apple Music's Beats 1 Radio in the spring.

Wednesday, December 07, 2016 | 08:25 AM

Parton, Christmas tree lighting, Cowboys give NBC big week

NEW YORK - With the help of Dolly Parton, an iconic Christmas tree lighting, "The Voice" and the Dallas Cowboys, NBC enjoyed one of its best weeks in television ratings in years.

Aside from times when NBC had the Olympics or Super Bowl, the week ending Sunday was the network's most-watched in 19 years, said Bob Greenblatt, NBC chairman.

Wednesday, December 07, 2016 | 08:24 AM

7 dead in latest China mine blast; 60 miners killed in week

BEIJING - Seven coal miners are dead and another four still missing after a gas explosion in a central province in the latest deadly accident to strike China's mining industry, authorities said Wednesday.

Rescuers were still trying to reach miners trapped underground after the Monday night blast in Hubei province, according to a statement from the local propaganda department. Rescue workers are pumping air into the mine shaft to aid the rescue effort.

Tuesday, December 06, 2016 | 10:56 PM

Trump interjects himself in Air Force One, business deals

FAYETTEVILLE, N.C. - President-elect Donald Trump, a political newcomer who touts his corporate skills, turned businessman-in-chief Tuesday, first demanding the government cancel a multibillion-dollar order for new presidential planes and then hailing a Japanese company's commitment to invest billions in the U.S.

"We will defend American jobs. We have to look at it almost like a war," Trump thundered in North Carolina, vowing to keep companies from moving overseas during the second stop of his "thank you" tour to salute his supporters. "We want the next generation of innovation and production to happen right here in America."

Tuesday, December 06, 2016 | 10:29 PM