Business News Summary Headlines

Company releases, economic news, and business coverage.

Ontario shipyard accuses feds of unfairly stacking deck in Davie's favour

OTTAWA - An Ontario shipyard is accusing the federal government of trying to unfairly award Quebec's Chantier Davie shipyard potentially billions of dollars in work without a competition.

The allegation is contained in a complaint from Hamilton-based Heddle Marine to the Canadian International Trade Tribunal over the government's search for a third shipyard to add to its multibillion-dollar shipbuilding strategy.

Friday, August 23, 2019 | 04:36 PM

Most actively traded companies on the TSX

TORONTO - Some of the most active companies traded Friday on the Toronto Stock Exchange:

Toronto Stock Exchange (16,037.58, down 215.88 points).

Friday, August 23, 2019 | 04:30 PM

Cargojet Inc. shares surge on deal with Amazon to grow partnership

MISSISSAUGA, Ont. - Shares in Cargojet Inc. shot to a record high Friday after the company announced a new deal with Amazon.com that could see the online retailer acquire a stake in the company that provides overnight air cargo services.

The company's shares opened up more than 20 per cent before closing up $11.66, or 12.86 per cent, at $102.33 on the Toronto Stock Exchange.

Friday, August 23, 2019 | 04:25 PM

Ottawa takes promised steps to prevent transshipments of aluminum, steel

Ottawa is taking promised steps to prevent aluminum and steel from entering Canada as a way to circumvent trade measures that led to the U.S. lifting tariffs earlier this year.

Starting Sept. 1, certain aluminum products will be added to the Import Control List (ICL) under the Export and Import Permits Act.

Friday, August 23, 2019 | 04:04 PM

Top publishers sue Audible for copyright infringement

NEW YORK - Some of the country's top publishers are suing Audible, citing copyright infringement as they ask a federal judge to enjoin the audiobook producer-distributor's planned use of captions for an education-driven program.

The so-called "Big Five" of publishing Penguin Random House, Hachette Book Group, Simon & Schuster, HarperCollins Publishers and Macmillan Publishers are among the plaintiffs in the suit filed Friday in U.S. District Court for the Southern District of New York. The legal action comes in response to "Audible Captions," which Audible announced in July and indicated would be formally launched as students return this fall, with titles including "Catch-22," ''The Hunger Games" and "The Hate U Give."

Friday, August 23, 2019 | 03:12 PM

Peppa Pig maker's shares soar more than 30% after Hasbro acquisition offer

TORONTO - The producer of the popular preschool cartoon Peppa Pig saw its shares soar more than 30 per cent after an American toy titan announced a deal to acquire it for US$4 billion.

Toronto-based Entertainment One. Ltd's shares gained about 1.42 British pounds or 31.94 per cent to 5.85 pounds on the London Stock Exchange.

Friday, August 23, 2019 | 02:31 PM

TC Energy applauds Nebraska court victory over opponents of Keystone XL pipeline

CALGARY - One of the last major hurdles for the Keystone XL crude oil pipeline was removed on Friday by the Nebraska Supreme Court which rejected an attempt to force the developer to reapply for state approval.

The court upheld the decision of regulators who voted in November 2017 to greenlight a route through the state. The court's decision was a victory for the US$8-billion project, which has been mired in lawsuits and regulatory hearings since it was proposed in 2008.

Friday, August 23, 2019 | 01:37 PM

Trump vows response to China tariffs on $75B of US goods

WASHINGTON - President Donald Trump declared Friday that he had "hereby ordered" American companies with operations in China "to immediately start looking for" an alternative after Beijing announced a series of retaliatory tariffs.

But as markets in the U.S., Asia and Europe tumbled, the White House offered no further details or explanation of Trump's intentions.

Friday, August 23, 2019 | 01:29 PM

June retail sales flat as Raptors effect offsets auto and gas slump: StatCan

Canadian retail sales edged expectations in June with merchandise and sporting goods sales climbing as the Toronto Raptors made their NBA championship winning run, according to the latest numbers from Statistics Canada.

Clothing and clothing accessories stores saw a 4.2 per cent uptick in sales, while sporting goods, hobby, book and music stores recorded a 3.7 per cent increase, the federal agency said.

Friday, August 23, 2019 | 12:49 PM

US new home sales slid 12.8% in July

WASHINGTON - Sales of new U.S. homes fell a steep 12.8% in July as higher prices and limited inventory sidelined would-be buyers.

The Commerce Department said Friday that new homes sold at a seasonally adjusted annual rate of 635,000 units. That's down from a sharply revised upward rate of 728,000 in June. So far this year, sales have risen just 4.1%.

Friday, August 23, 2019 | 10:32 AM