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Business News Summary Headlines

Company releases, economic news, and business coverage.

U.S. franchisee files suit against Tim Hortons, alleging price gouging

Weeks after achieving a breakthrough in two-class-action lawsuits with restive Canadian franchisees, Tim Hortons and its parent company are facing a fresh legal fight with a Minnesota-based franchisee over accusations of price-gouging and misleading statements.

"This matter is about broken promises, unfulfilled contractual expectations and false and misleading statements and omissions," reads a complaint filed on behalf of Tim-Minn Inc. against Tim Hortons USA Inc. and Restaurant Brands International in the U.S. district court for the district of Minnesota Wednesday.

Wednesday, February 20, 2019 | 05:48 PM

Report calls proposed air passenger rules 'inhumane' as consultations wrap up

Proposed rules around air passenger rights are "inhumane" and will deprive travellers of proper compensation, a new report states.

Advocacy group Air Passenger Rights says would-be regulations that allow airlines to keep travellers on the tarmac for up to three hours and 45 minutes are "unacceptable" and grant more than twice the time permitted under European Union legislation.

Wednesday, February 20, 2019 | 05:23 PM

Major North American indices rise after Fed releases meeting notes

Major North American indices advanced Wednesday on the affirmation that policy-makers would take a patient approach to future interest rate hikes.

The Federal Reserve released minutes from its two-day late January federal open market committee meeting.

Wednesday, February 20, 2019 | 04:56 PM

CRTC chair: Inquiry into telecom sales practices wasn't about 'naming and shaming'

The Canadian Television-radio and Telecommunications Commission confirmed Wednesday what has been widely alleged for years the industry uses unacceptable sales practices that mislead consumers and harms the public interest.

The national telecom regulator said the misleading and aggressive practices exist in all types of sales channels including in stores, online, over the telephone and at homes when companies conduct door-to-door sales campaigns.

Wednesday, February 20, 2019 | 04:51 PM

Federal Liberal government to introduce pre-election budget on March 19

OTTAWA - Finance Minister Bill Morneau will introduce the Liberal government's pre-election budget on March 19 in a document expected to touch the issues of prescription drug costs, skills training for workers and helping more millennials get into the housing market.

The budget will be the Trudeau government's fourth since the Liberals won the 2015 election and its final one before the next one in October.

Wednesday, February 20, 2019 | 04:50 PM

Commodities giant Glencore to cap coal output over climate

BERLIN - Commodities giant Glencore said Wednesday it will cap how much coal it mines amid shareholder pressure for it to help reduce global emissions of greenhouse gases.

The move is a sharp reversal for a company that has long championed the extraction and burning of fossil fuels, and which recently announced the purchase of further stakes in two Australian coal mines even as rivals pulled out amid climate concerns.

Wednesday, February 20, 2019 | 04:42 PM

Bausch Health walks tightrope between debt and acquisitions in 2019 forecast

MONTREAL - Bausch Health Companies Inc.'s management is striving to find a balance between debt reduction and "bolt-on" acquisitions as it emerges from the shadow of numerous lawsuits.

Since Joseph Papa became the company's CEO in 2016, it has shifted away from an aggressive acquisition strategy and focused on slashing debt, which fell below US$25 billion as of Dec. 31 after US$1 billion of reductions in 2018.

Wednesday, February 20, 2019 | 04:39 PM

Alberta Opposition Leader Jason Kenney says he would shelve oil-by-rail deal

EDMONTON - Opposition Leader Jason Kenney says if he wins the spring election, he will try to cancel Alberta's $3.7-billion deal with Canada's two largest railways to ship more oil by rail.

"This (deal) is a catastrophic mistake by the NDP," Kenney told a news conference Wednesday, one day after Premier Rachel Notley announced the province will lease 4,400 railcars to get more oil to foreign markets while the government works to increase pipeline capacity.

Wednesday, February 20, 2019 | 04:35 PM

Samsung folding phone is different - but also almost $2,000

SAN FRANCISCO - Samsung unveiled a highly anticipated smartphone with a foldable screen in an attempt to break the innovation funk that has beset the smartphone market.

But it's far from clear that consumers will embrace a device that retails for almost $2,000, or that it will provide the creative catalyst the smartphone market needs.

Wednesday, February 20, 2019 | 04:33 PM

UK's May, EU chief call latest Brexit talks 'constructive'

BRUSSELS - After the resignations of three of her party's lawmakers over Brexit, British Prime Minister Theresa May came away from more talks on preventing the U.K. from crashing out of the European Union with both she and the EU's chief deeming their meeting "constructive" Wednesday.

No breakthrough was announced from the dinner meeting at EU headquarters in Brussels between May and European Commission President Jean-Claude Juncker.

Wednesday, February 20, 2019 | 04:06 PM