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

Business News Summary Headlines

Company releases, economic news, and business coverage.

Turkish finance chief tries to reassure investors on crisis

ANKARA, Turkey - Turkey's finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged to fix the economic troubles that have seen the country spiral into a currency crisis.

The national currency recovered somewhat from record lows hit earlier this week, a day after Qatar pledged $15 billion in investments to help Turkey's economy. The lira strengthened some 4 per cent against the dollar, to around 5.75 per dollar.

Thursday, August 16, 2018 | 06:22 PM

Tesla Motors Canada takes Ontario government to court over vehicle rebates

The Canadian arm of Tesla, Inc., is taking the Ontario government to court, claiming it has been treated unfairly in the cancellation of a program providing rebates to residents who bought electric vehicles.

In an application for judicial review, Tesla Motors Canada says the decision by Premier Doug Ford's government to halt the program in July left hundreds of its customers no longer eligible for rebates they expected to get when they ordered their vehicles.

Thursday, August 16, 2018 | 06:05 PM

Trump suggests Canada has been sidelined from latest NAFTA negotiations

OTTAWA - U.S. President Donald Trump is suggesting Canada has deliberately been left on NAFTA's sidelines as one-on-one talks heat up between Washington and Mexico.

For four straight weeks, U.S. trade czar Robert Lighthizer and Mexican Economy Minister Ildefonso Guajardo have held bilateral negotiations on the North American Free Trade Agreement, while Canada has been absent from the bargaining table.

Thursday, August 16, 2018 | 06:03 PM

Air Canada exec Ben Smith to face labour headwinds as new CEO at Air France-KLM

MONTREAL - Air Canada's chief operating officer Ben Smith has been named the new CEO of Air France-KLM.

The longtime No. 2 at Air Canada will be the first non-French national to helm the Franco-Dutch carrier.

Thursday, August 16, 2018 | 05:55 PM

Oilpatch fears delays as U.S. judge orders further review of KXL pipeline route

CALGARY - Potential delays in the completion of the Keystone XL pipeline following a U.S. judge's order mean that Western Canadian oil producers could suffer current price discounts for a longer period of time, industry spokesmen say.

On Wednesday, U.S. District Court Judge Brian Morris ordered additional environmental study of the altered route through Nebraska for TransCanada Corp.'s proposed pipeline.

Thursday, August 16, 2018 | 05:42 PM

Bridge in Italy had unusual design, required constant work

NEW YORK - The bridge that collapsed in the Italian port city of Genoa was considered a feat of engineering innovation when it was built five decades ago, but it came to require constant maintenance over the years. Its design is now being investigated as a possible contributor to its stunning collapse.

The Morandi Bridge was severed in its midsection during a heavy downpour Tuesday. Government officials initially said 39 people were killed but revised the death toll to 38 on Thursday. Italian prosecutors focused their investigation into possible design flaws or inadequate maintenance of the bridge that opened in 1967.

Thursday, August 16, 2018 | 05:30 PM

NEB allows Trans Mountain to begin construction on parts of pipeline expansion

CALGARY - The National Energy Board says Trans Mountain Pipeline ULC can start construction on sections of its pipeline expansion between Alberta and British Columbia.

The NEB says in a statement that Trans Mountain has met all applicable pre-construction condition requirements for so-called segments one to four from the Edmonton terminal to its Darfield pump station near Kamloops, B.C.

Thursday, August 16, 2018 | 05:29 PM

North American stock markets rebound, Dow surges 1.58%; loonie slips lower

TORONTO - Canada's main stock index recovered some of the steep losses from a day earlier as investors saw tensions easing on the trade front Thursday.

Markets and commodities rallied on news that the U.S. and China would hold talks in late August, the first since both countries imposed $34 billion in tariffs on each other in June.

Thursday, August 16, 2018 | 05:28 PM

Arrests in Burnaby, B.C., as order against Kinder Morgan protest camp enforced

BURNABY, B.C. - The RCMP arrested protesters Thursday as officers enforced a court injunction to dismantle a protest camp and snuff out a sacred fire at a site where the Trans Mountain pipeline ends in Burnaby, B.C.

Cpl. Daniela Panesar said police began enforcing an order obtained by the City of Burnaby last week from the B.C. Supreme Court.

Thursday, August 16, 2018 | 05:27 PM

Canopy Growth head talks U.S. expansion plans after $5B investment

TORONTO - Canopy Growth's chief executive talked more aggressively Thursday about the potential for U.S. expansion when and if marijuana becomes federally legal south of the border one day after the licensed medical marijuana producer got a $5-billion infusion of cash and believes that even under a Trump government that day will dawn sooner than anticipated.

In explaining his bullish outlook, Bruce Linton pointed to a U.S. Senate bill introduced in June that would amend the Controlled Substances Act to exempt marijuana activity that is legal at the state level, as well as to recent comments backing states' rights on pot from the Koch brothers, prominent Republican donors and businessmen.

Thursday, August 16, 2018 | 04:39 PM