Company releases, economic news, and business coverage.
WASHINGTON - U.S. businesses increased their stockpiles in July, but at a slower pace than in June. Sales also rose by a small amount.
Business inventories rose by a seasonally adjusted 0.2 per cent in July, following June's gain of 0.5 per cent, the Commerce Department said Friday. The June increase in inventories was the most since a 0.9 per cent gain in November of last year.
WASHINGTON - Factory activity in New York was strong this month after reaching a three-year high in August.
The Federal Reserve Bank of New York said Friday that its Empire State manufacturing index dipped to 24.4 in September, a level that still points to a brisk pace of growth for factories. The August reading of 25.2 had been the highest since September 2014.
WASHINGTON - Consumers cut back on their shopping in August by the largest amount in six months as declining auto sales offset gains in other areas.
Retail sales fell 0.2 per cent last month after a 0.3 per cent gain in July, the Commerce Department said Friday. It was the biggest one-month drop since an identical decline in February. Auto sales sank 1.6 per cent, the most in seven months.
VANCOUVER - Canada's justice ministers are asking for clarity and support as they scramble to organize and police an entirely new marijuana industry in fewer than 10 months.
British Columbia Solicitor General Mike Farnworth said he hopes this week's meeting between federal Justice Minister Jody Wilson-Raybould and her provincial and territorial counterparts will provide more answers about how the Canadian government intends to make good on its plans to legalize pot by summer 2018.
TORONTO - Equifax Canada is facing intensifying calls for transparency on its massive cyberhack as the Canadian Automobile Association informs thousands of its members that their data may have been compromised and frustrated consumers ask questions about why they're being treated worse than their U.S. counterparts.
CAA said Thursday it partnered with Equifax on its identity protection program and is notifying the roughly 10,000 members who participated that they may have had sensitive data divulged in the security breach made public last week.
CALGARY - In the latest setback to B.C.'s liquefied natural gas export industry prospects, the partners developing the Aurora LNG project say they are ending a feasibility study after four years.
Nexen Energy, a Calgary-based subsidiary of Chinese oil giant CNOOC Ltd., says it has decided with Japanese partner INPEX Gas British Columbia Ltd. to stop work on the proposal effective immediately.
OTTAWA - Transport Minister Marc Garneau pushed back Thursday against suggestions the Liberals' proposed air passenger bill of rights is too heavy-handed with airlines, saying the government's intent is not to pick on air carriers.
Garneau told a Commons committee studying the proposal that the government's goal is to create regulations that are fair to airlines and passengers to ensure everyone knows their rights and responsibilities.
IQALUIT, Nunavut - The federal government has promised to contribute nearly $50 million to bring high-speed internet to Nunavut where some of the poorest and most expensive service in Canada has long been considered an economic drag.
The money, together with $73 million from regional service provider Northwestel, will put satellite dishes and ground stations in all 25 Nunavut communities, Innovation, Science and Economic Development Minister Navdeep Bains said Thursday in Iqaluit.
VANCOUVER - Eldorado Gold Corp. (TSX:ELD) says it has received another permit and the approval of a technical study for the closure of its Old Olympias mine in Greece.
The company has been embroiled in a fight with the Greek government over its gold mining operations in the country.
TORONTO - Another Canadian clothing retailer, Roots Corp., wants to take its company public as it plans a massive North American and international expansion over the next several years.
For the heritage-fashion retailer the switch from being a private company for more than four decades comes against a challenging retail environment that's seen numerous bankruptcies, and mass store closures and layoffs in recent years.