Business News Summary Headlines

Company releases, economic news, and business coverage.

Bausch Health shares drop on US$1.52 billion Q4 loss due to lawsuit settlement

LAVAL, Que. - Shares of Bausch Health Companies Inc. dropped 6.2 per cent Wednesday after the pharmaceutical company reported a loss of nearly US$1.52 billion in its latest quarter after settling a lawsuit over a stock plunge that hit investors in 2015.

The Quebec-based company's stock closed down $2.30 to $34.93 on the Toronto Stock Exchange after dropping by as much as 10.4 per cent in earlier trading.

Wednesday, February 19, 2020 | 04:23 PM

Facebook, Instagram users in Canada can finally use music clips with stories

TORONTO - It's been a long time coming, but Facebook and Instagram users in Canada can finally incorporate music clips into their story posts.

Facebook says it's enabling an array of creative music tools, among them the ability for users to post 15-second snippets of songs with their stories.

Wednesday, February 19, 2020 | 03:02 PM

Stelco reports Q4 loss on challenging market conditions, steel price drop

HAMILTON - Stelco Holdings Inc. swung to a loss in its fourth quarter after challenging market conditions including an "unprecedented" drop in prices.

The Hamilton-based steel producer said Wednesday that it lost $24 million or 27 cents per diluted share for the quarter ended Dec. 31, compared with net income of $110 million or $1.23 per diluted for final quarter of 2018.

Wednesday, February 19, 2020 | 02:37 PM

Fertilizer firm Nutrien forecasts 2020 agriculture rebound after tough Q4

CALGARY - A rebound in global agricultural markets is expected to drive better returns this year after a difficult fourth quarter for fertilizer company Nutrien Ltd., its CEO said Thursday.

The last three months of 2019 featured ongoing challenges including geopolitical issues and short-term weather anomalies, said Chuck Magro on a conference call to discuss the Saskatoon-based company's financial results.

Wednesday, February 19, 2020 | 02:19 PM

Burger King breaks the mould with new advertising campaign

Burger King is breaking the mould in its new advertising campaign.

The burger chain is portraying its Whopper covered in mould in print and TV ads running in Europe and the U.S. The message: Burger King is removing artificial preservatives from its signature burger.

Wednesday, February 19, 2020 | 01:56 PM

A heavyweight fight so big it took two TV networks to show

LAS VEGAS - To hear the fighters talk, the heavyweight title fight Saturday night between Deontay Wilder and Tyson Fury is so big it took two TV networks to make it happen.

Thatís only partially true, though it might be forgiven. This is boxing, after all, and a bit of hyperbole goes a long way toward selling a fight.

Wednesday, February 19, 2020 | 01:42 PM

Inflation rises again, hitting 2.4 per cent in January, Statistics Canada says

OTTAWA - The annual pace of inflation jumped last month to 2.4 per cent, its fastest rate in almost two years, fuelled by higher costs at the gas pump, pricey tomatoes and a rare surge in clothing costs.

The move compared with a year-over-year increase of 2.2 per cent in December, and topped the 2.3 per cent economists predicted for January in a poll by financial markets data firm Refinitiv.

Wednesday, February 19, 2020 | 01:34 PM

Small business owners demand an end to rail blockades, warn of consequences

MONTREAL - The Canadian Federation of Independent Business has sent a letter to Prime Minister Justin Trudeau warning of dire consequences if blockades that have disrupted rail service across the country continue.

CFIB head Dan Kelly is calling on Ottawa to work with the provinces and law enforcement to get trains back on the tracks as protests in support of Wet'suwet'en hereditary chiefs who oppose a natural gas pipeline in British Columbia enter their 14th day.

Wednesday, February 19, 2020 | 12:56 PM

Carbon risk for Alberta's public pension manager AIMCo questioned

EDMONTON - Alberta's largest labour organization says public-service pensions are being used to prop up the province's struggling fossil fuels industry at a time when many large investment funds are moving away from the sector.

"We're afraid they're going to use our pension savings to fund a political agenda rather than invest those funds in a way that's responsible," said Gil McGowan, president of the Alberta Federation of Labour.

Wednesday, February 19, 2020 | 11:20 AM

Alimentation Couche-Tard faces rival bidder for Australian company Caltex

MONTREAL - Alimentation Couche-Tard Inc. is facing a rival bidder for Caltex Australia Ltd.

Australia's largest retail fuel and convenience chain says EG Group Ltd. has made a takeover offer for the company.

Wednesday, February 19, 2020 | 11:14 AM