Home > News & Features > Business News > Business News Summary Headlines

Business News Summary Headlines

Company releases, economic news, and business coverage.

Garneau and transportation industry 'cautiously optimistic' about NAFTA: minister

MONTREAL - Transport Minister Marc Garneau says he shares the cautious optimism of Canada's transportation industry that a deal will be reached to modernize NAFTA.

The minister said the sustained efforts by the federal and provincial governments to reinforce the importance of the trade deal to American politicians are bearing fruit.

Wednesday, January 17, 2018 | 05:27 PM

Group pushes lawsuit saying book infringes on artist's work

BOISE, Idaho - A group that preserves and promotes the work of a deaf, self-taught Idaho artist whose creations appear in museums around the world is fighting an attempt to dismiss its copyright infringement lawsuit against an Oregon children's book author.

The Boise, Idaho-based James Castle Collection and Archive said in documents filed Tuesday in federal court that Allen Say's book "Silent Days, Silent Dreams" steals images created by Castle, who died in 1977, and that its lawsuit should be allowed to move forward.

Wednesday, January 17, 2018 | 05:19 PM

Bread price-fixing documents won't be unsealed Thursday, Loblaw says

BRAMPTON, Ont. - Loblaw says court documents regarding an alleged industry-wide bread price-fixing scheme won't be released tomorrow after an unidentified individual filed an application against releasing them.

The information to obtain, which outlines why the Competition Bureau wanted search warrants in the case against at least seven companies, including Canada's three major grocers, has been sealed for 30 days and was scheduled to be released Thursday morning.

Wednesday, January 17, 2018 | 05:17 PM

Feds create new ombudsperson to keep tabs on corporate behaviour abroad

OTTAWA - Investment firms, human rights groups and aid agencies gave a thumbs-up Wednesday to the Liberal government's decision to create an independent watchdog to enforce responsible conduct of Canadian companies operating abroad.

International Trade Minister Francois-Philippe Champagne announced the new position, saying the office would be first of its kind in the world, and that he would take an active role in making sure it prevented any bad corporate behaviour that might tarnish Canada's broader brand.

Wednesday, January 17, 2018 | 05:15 PM

Newstrike shareholders overwhelmingly support CanniMed takeover deal

TORONTO - Shareholders of Newstrike Resources Ltd. (TSXV:HIP) voted overwhelmingly in favour of an acquisition by licensed cannabis producer CanniMed Therapeutics Inc. (TSX:CMED) at a special meeting today.

Approximately 99.4 per cent of the votes, representing more than 271.8 million outstanding common shares, were cast in support of a plan that would see Newstrike shareholders receive 33 CanniMed shares for each 1,000 shares of Newstrike.

Wednesday, January 17, 2018 | 05:12 PM

Loonie recovers following dovish interest rate hike, Dow soars past 26,000

TORONTO - The loonie rebounded from its earlier losses following the Bank of Canada's dovish interest rate hike announcement Wednesday, as Wall Street soared to new highs.

The Canadian dollar closed at an average trading value of 80.48 cents US, down 0.04 of a U.S. cent, recovering from greater losses earlier in the session after the central bank said it would raise its key interest rate target by a quarter of a percentage point to 1.25 per cent.

Wednesday, January 17, 2018 | 05:09 PM

Most actively traded companies on the TSX

Some of the most active companies traded Wednesday on the Toronto Stock Exchange:

Toronto Stock Exchange (16,326.70, up 27.82 points)

Wednesday, January 17, 2018 | 05:04 PM

Foreign workers sleeping in Burger King basement: Alberta Health Services

LETHBRIDGE, Alta. - A Burger King franchise was issued a public health order because Alberta Health Services said its inspectors found foreign workers were sleeping in the basement of the Lethbridge restaurant.

Burger King said in an emailed statement that it had spoken with the independent owner of the location.

Wednesday, January 17, 2018 | 05:02 PM

'Very strong' Democratic sentiment to oppose GOP budget bill

WASHINGTON - Top Senate Democrat Chuck Schumer said Wednesday there's "very, very strong" sentiment among Democrats in the chamber to oppose GOP-drafted legislation to keep the government's doors open, comments that could indicate the chances are increasing that the government could shut down at midnight Friday night.

Democrats' votes are needed to advance the stopgap measure through the Senate, but they have been rebuffed in their demands to add protections against deportation for younger immigrants who were brought to the country illegally as children.

Wednesday, January 17, 2018 | 04:50 PM

Bank of Canada hikes interest rate on strong economy, but underlines NAFTA risks

OTTAWA - The economy's impressive run has prompted another interest-rate hike from the Bank of Canada but looking ahead it warned of the broadening negative impact of NAFTA's uncertain future.

The central bank pointed to unexpectedly solid economic numbers as key drivers behind its decision Wednesday to hike the trend-setting rate to 1.25 per cent, up from one per cent. It was the bank's third increase since last summer, following hikes in July and September.

Wednesday, January 17, 2018 | 04:17 PM