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Business News Summary Headlines

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Teachers use social media in US uprisings, fight for funding

PHOENIX - The public education uprisings that began in West Virginia and spread to Arizona, Oklahoma and Kentucky share similar origin stories.

Teachers, long tired of low wages and a dearth of state funding, begin talking to each other online.

Thursday, April 19, 2018 | 09:39 AM

Sohi defends Liberal infrastructure plan, says 20,000 projects underway

OTTAWA - The federal infrastructure minister is defending the government's vaunted spending plan to improve Canada's roads, bridges, and water systems against accusations it is sputtering and overly complicated.

Senate and parliamentary budget officer reports have questioned how well the government is managing the planned $186 billion in spending over the next decade.

Thursday, April 19, 2018 | 09:26 AM

Trade issues expose the limits of Trump-Abe 'bromance'

PALM BEACH, Fla. - Japanese Prime Minister Shinzo Abe courted the new American president with a golden driver not long after Donald Trump won the White House. He's met with the billionaire businessman more than any other world leader, and he is Trump's second-most frequent caller.

Yet the "bromance" between Trump and Abe has its limits.

Thursday, April 19, 2018 | 08:41 AM

Control board meeting to OK austerity plans for Puerto Rico

SAN JUAN, Puerto Rico - New austerity measures are coming for Puerto Rico as a federal control board overseeing the U.S. territory's finances meets Thursday to approve several fiscal plans that will serve as the island's economic blueprint for the next five years.

Drafts of the plans released Wednesday call for a 10 per cent average cut to a pension system facing nearly $50 billion in liabilities. They also seek the closure of prisons, consolidation of dozens of state agencies and significant reductions in government subsidies to the island's 78 municipalities and Puerto Rico's largest public university. The board also said Puerto Rico's government should cut sick leave and vacation pay by half.

Thursday, April 19, 2018 | 08:31 AM

Manhattan turf war: 'Billionaires Row' vs. homeless shelter

NEW YORK - Some of the world's wealthiest people have apartments in the half-dozen new skyscrapers built along a stretch of Manhattan's 57th Street known as "Billionaires Row." And soon they may have an unwanted new neighbour: a homeless shelter.

The city has approved a plan to house 140 single men in what was once the budget Park Savoy Hotel on West 58th Street, a modest building right next door to the back entrance of One57, one of the sleek new towers springing up in Manhattan to serve the superrich.

Thursday, April 19, 2018 | 08:30 AM

Willingness to fix euro's flaws is fading fast

FRANKFURT - When Angela Merkel was re-elected as Germany's leader in March, the way looked open for European nations to finally patch the remaining cracks in the euro the structural flaws that threatened to break apart the shared currency in 2010-12.

Suddenly, those prospects for far-reaching agreements are fading, as one proposal after another falls by the wayside.

Thursday, April 19, 2018 | 08:26 AM

Excavator blamed for island-wide blackout in Puerto Rico

SAN JUAN, Puerto Rico - An island-wide blackout hit Puerto Rico on Wednesday after an excavator accidentally downed a transmission line, officials said, as the U.S. territory struggles to repair an increasingly unstable power grid nearly seven months after Hurricane Maria.

Officials said it could take 24 to 36 hours to fully restore power to more than 1.4 million customers as outrage grew across the island about the state of Puerto Rico's Electric Power Authority. It was the second major outage in less than a week, with the previous one affecting some 840,000 customers.

Thursday, April 19, 2018 | 08:08 AM

Men arrested at Starbucks say they feared for their lives

PHILADELPHIA - Rashon Nelson initially brushed it off when the Starbucks manager told him he couldn't use the restroom because he wasn't a paying customer.

He thought nothing of it when he and his business partner, Donte Robinson, were approached at their table and were asked if they needed help. The 23-year-old entrepreneurs declined, explaining they were just waiting for a business meeting.

Thursday, April 19, 2018 | 07:57 AM

US manufacturers seek relief from steel and aluminum tariffs

WASHINGTON - Rising costs. Delayed shipments. A baffling bureaucracy.

President Donald Trump's tariffs on imported aluminum and steel are disrupting business for American companies that buy those metals, and many are pressing for relief.

Thursday, April 19, 2018 | 07:57 AM

Feds ordered savings review for Gordie Howe bridge over cost concerns: documents

OTTAWA - The federal government ordered a review of the budget for a new cross-border bridge in Windsor, Ont., after concerns arose that the cost was in danger of exceeding spending targets, newly released documents show.

Officials found ways to save money on the Gordie Howe International Bridge "without significantly changing the risk" to the federal government, noted one slide from a presentation that was delivered to senior government officials last October.

Thursday, April 19, 2018 | 04:30 AM