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Business News Summary Headlines

Company releases, economic news, and business coverage.

Musk suggests Tesla's new chairwoman won't rein him in

NEW YORK - Tesla CEO Elon Musk dismissed the idea that the company's new chairwoman can exert control over his behaviour.

Robyn Denholm, an Australian telecommunications executive, was appointed chairwoman of Tesla's board last month, replacing Musk as part of as part of a securities fraud settlement with U.S. government regulators.

Monday, December 10, 2018 | 12:33 PM

Annual pace of housing starts picked up in November, tops expectations

TORONTO - The annual pace of Canadian housing starts picked up in November, beating analyst expectations, and signal that the country's real estate market continues to show signs of stability.

Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts in Canada was 215,941 units in November, up from 206,753 in October.

Monday, December 10, 2018 | 11:47 AM

BlackBerry to unveil secure smart-city traffic technology service

WATERLOO, Ont. - BlackBerry Inc. is attempting to aid in the creation of smart cities with a new service that provides the infrastructure for vehicles and traffic lights to exchange information in a secure manner.

The Waterloo-based tech company says it will not charge service fees for automakers and public offices involved in smart city and connected vehicle pilots to use the Security Credential Management System service.

Monday, December 10, 2018 | 11:30 AM

Energy stocks lead Toronto stocks lower, while U.S. markets also sink

TORONTO - Canada's main stock index posted a triple-digit decline in late-morning trading on broad-based weakness led by the energy sector, while U.S. markets also sank deep into the red.

The S&P/TSX composite index was down 145.04 points at 14,650.09.

Monday, December 10, 2018 | 11:18 AM

Sunday night baseball games an hour earlier in 2019

LAS VEGAS - Baseball players may get a little more sleep when travelling after Sunday night games next year.

ESPN announced Monday it is moving up the starting time of the nationally televised game by one hour, with the first pitch planned for shortly after 7 p.m. Eastern.

Monday, December 10, 2018 | 11:07 AM

Macron to speak to French on protests; But is it too late?

PARIS - French President Emmanuel Macron will be speaking to his nation at last Monday, after increasingly violent, radicalized protests against his leadership have shaken the country and scarred its beloved capital. His long silence has aggravated that anger and many protesters are hoping only to hear one thing from Macron: "I quit."

That's a highly unlikely prospect.

Monday, December 10, 2018 | 10:32 AM

Prosecutors indict Nissan's Ghosn for underreporting pay

TOKYO - Prosecutors have charged Nissan Motor Co.'s former chairman Carlos Ghosn, another executive and the automaker itself for allegedly violating financial laws by underreporting income.

The charges imposed Monday involve allegations Ghosn's pay was underreported by about 5 billion yen ($44 million) in 2011-2015. The prosecutors said earlier that the allegations were the reason for Ghosn's arrest on Nov. 19.

Monday, December 10, 2018 | 09:28 AM

Aurora Cannabis to acquire Mexican company following partnership deal

EDMONTON - Aurora Cannabis Inc. has signed a deal to acquire Mexican company Farmacias Magistrales.

The deal to buy the pharmaceutical manufacturer and distributor follows an agreement last week that saw Aurora partner with the company.

Monday, December 10, 2018 | 08:39 AM

In Zimbabwe's crisis, 'we cannot talk of Christmas anymore'

HARARE, Zimbabwe - Dressed as Father Christmas, a man dozes off while sitting in a supermarket in Zimbabwe's capital, Harare. No one seems to care.

The holiday mood is not catching on in a country where a currency crisis has forced people to risk jail time to buy basics such as medicine and food. Many Zimbabweans navigate from one currency to another, often tapping the black market, while the government issues salaries in forms of payment it later refuses to accept.

Monday, December 10, 2018 | 08:00 AM

GM fights government to retain tax credit for electric cars

WASHINGTON - General Motors is fighting to retain a valuable tax credit for electric vehicles as the nation's largest automaker tries to deal with the political fallout triggered by its plans to shutter several U.S. factories and shed thousands of workers.

Preserving the $7,500 tax incentive for buyers is crucial for GM as the company pivots from internal combustion engines in favour of building cars powered by batteries or hydrogen fuel cells. Yet the layoffs and plant closings could imperil GM's push to keep the incentive. It helps make plug-ins such as the $36,000 Chevy Bolt more affordable at a time when competition from other electric vehicle makers is heating up.

Monday, December 10, 2018 | 07:44 AM