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Business News Summary Headlines

Company releases, economic news, and business coverage.

Stillman's local group takes over full ownership of Blues

ST. LOUIS - A group led by St. Louis Blues chairman Tom Stillman now owns 100 per cent of the reigning Stanley Cup champions.

Stillman on Wednesday announced the purchase of remaining shares of the team from Sports Capital Holdings LLC, which owned the Blues from 2006-2012. The NHL Board of Governors approved the transaction at its annual June meeting in Las Vegas.

Wednesday, June 19, 2019 | 04:17 PM

4 charged in downing of Malaysian airliner over Ukraine

NIEUWEGEIN, Netherlands - International prosecutors announced murder charges Wednesday against four men three of them Russians with military or intelligence backgrounds in the missile attack that blew a Malaysia Airlines jet out of the sky over Ukraine five years ago, killing all 298 people aboard.

The case, built with the help of wiretaps, radar images and social media posts, marks the most significant step yet toward tying the tragedy to Moscow, which has backed the pro-Russian separatists fighting to seize control of eastern Ukraine.

Wednesday, June 19, 2019 | 03:53 PM

Trans Mountain CEO says shovels could be in ground on pipeline by September

CALGARY - The CEO of the Crown corporation building the Trans Mountain pipeline expansion says shovels could be in the ground by September following cabinet approval Tuesday of the long-delayed project.

Oil could be flowing in new segments of the pipeline between Edmonton and the West Coast by mid-2022, Ian Anderson said, about one year later than the timeline envisioned last August when the Federal Court of Appeal quashed its regulatory approval and halted all fieldwork.

Wednesday, June 19, 2019 | 03:42 PM

Valentino travels the world as Paris menswear gets romantic

PARIS - The photogenic front row at Valentino's show had "Riverdale" actor Charles Melton, NBA player Jaylen Brown and Stevie Wonder's model son Kailand Morris among the seated notables, ensuring cameras stayed busy snapping at Paris Fashion Week.

However, the vibrant collection didn't need VIPs to promote its message, a colour-rich ode to world culture.

Wednesday, June 19, 2019 | 03:41 PM

Shopify to open U.S. fulfilment centres as part of expanded offerings

TORONTO - Shopify Inc. has launched a network of fulfilment centres in the United States to expand its suite of offerings for merchants in the competitive world of online retail.

The network will allow merchants large and small to gain access to advanced logistics technology and simplified warehousing and shipping, chief product officer Craig Miller said.

Wednesday, June 19, 2019 | 02:39 PM

Statistics Canada reports annual pace of inflation rises in May to 2.4 per cent

OTTAWA - The annual pace of inflation picked up in May as the consumer price index rose 2.4 per cent compared with a year ago, its largest increase since October last year, Statistics Canada said Wednesday.

The move compared with a 2.0 per cent increase in April and was the fourth straight month of rising year-over-year increases. Economists had expected an increase of 2.1 per cent for May, according to Thomson Reuters Eikon.

Wednesday, June 19, 2019 | 02:39 PM

Governments earned $186M in pot taxes in 5 1/2 months of legalization: StatCan

Federal and provincial governments earned $186 million in cannabis-related revenue in the first 5 1/2 months since legalization in October, Statistics Canada said Wednesday.

The Ottawa-based agency said revenue came from product-specific excise taxes and general taxes on goods and services, such as the Harmonized Sales Tax, directly related to the sale of cannabis.

Wednesday, June 19, 2019 | 01:58 PM

CannTrust to enter U.S. CBD market via hemp joint-venture in California

CannTrust Holdings Inc. plans to enter the U.S. market for CBD, starting with a hemp production joint-venture in California, it said on Wednesday.

The Vaughan, Ont.-based licensed producer has signed a non-binding letter of intent with Elk Grove Farming Company to secure hemp with high cannabidiol (CBD), the non-intoxicating compound found in cannabis and hemp.

Wednesday, June 19, 2019 | 12:59 PM

GM seeks to avoid Takata recalls for fourth straight year

DETROIT - General Motors is trying to avoid recalling potentially deadly Takata air bag inflators in thousands of full-size pickup trucks and SUVs for the fourth straight year, leaving owners to wonder if vehicles are safe to drive.

The automaker petitioned the National Highway Traffic Safety Administration to exempt it from recalls that were required under a 2015 agreement between Takata and the government.

Wednesday, June 19, 2019 | 11:48 AM

Federal cabinet ministers visit Edmonton, Calgary, in wake of TMX approval

EDMONTON - Two federal cabinet ministers are making appearances in Alberta today following the Trudeau government's controversial second approval of the Trans Mountain pipeline expansion.

Natural Resources Minister Amarjeet Sohi is set to visit Trans Mountain Corp.'s terminal in Edmonton, while Finance Minister Bill Morneau will address an Economic Club of Canada breakfast in Calgary.

Wednesday, June 19, 2019 | 08:16 AM