Business News Summary Headlines

Company releases, economic news, and business coverage.

Barr's call for U.S. control of 5G providers quickly rebuked

NEW YORK - Trump administration officials, increasingly intent on preventing Chinese global technological domination, keep floating the idea that the U.S. government should take a more direct hand in running next-generation 5G wireless networks.

But the notion isn't terribly popular not even within the administration.

Friday, February 07, 2020 | 06:25 PM

North American stock market falls as coronavirus concerns overshadow job gains

TORONTO - North American stock markets snapped a four-day winning streak to end the week as concerns about the new coronavirus overshadowed strong job gains.

The impact of the virus on the Chinese and global economy is starting to appear as more and more information becomes available, says Philip Petursson, chief investment strategist at Manulife Investment Management.

Friday, February 07, 2020 | 05:23 PM

Commuter rail trips cancelled as protest blocks tracks near Belleville, Ont.

A blockade on a rail line in eastern Ontario has halted service along one of Via Rail's busiest routes and led to numerous cancellations.

Spokesman Karl-Philip Marchand Giguere did not provide reasons for the blockade, which prompted the rail provider to suspend all travel between Toronto, Ottawa and Montreal on Friday. But he said the blockade has led to numerous delays and cancellations throughout the day.

Friday, February 07, 2020 | 02:43 PM

Canada Goose cuts revenue growth outlook as coronavirus hits sales

Luxury parka maker Canada Goose Holdings Inc. slashed expected revenue growth for the year due to "material negative impact" from the new coronavirus outbreak.

The health crisis "has hit our biggest current growth market," said chief executive Dani Reiss during a conference call with analysts Friday after the company released its third-quarter financial results.

Friday, February 07, 2020 | 01:54 PM

CAE reports net income of $99.8 million as revenue climbs in all segments

MONTREAL - CAE Inc. says net income rose in its third quarter as it saw revenue gains across its civil aviation, defence, and health care segments.

The high-tech training company says it had a net income of $99.8 million, or 37 cents per share, in the quarter ending Dec. 31, up from $79.5 million, or 29 cents per share in the same quarter last year.

Friday, February 07, 2020 | 10:51 AM

Former Nova Scotia premier resigns from board connected to Northern Pulp mill

ABERCROMBIE, N.S. - The parent company for the Northern Pulp mill has announced former Nova Scotia premier John Hamm has resigned from a board connected with the mill.

Hamm had been a director and was chairman of the board of directors for Northern Resources Nova Scotia.

Friday, February 07, 2020 | 09:14 AM

Here's a quick glance at unemployment rates for January, by Canadian city

OTTAWA - The national unemployment rate was 5.5 per cent in January. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets):

St. John's, N.L. 7.4 per cent (7.0)

Friday, February 07, 2020 | 08:44 AM

Here's a quick glance at unemployment rates for January, by province

OTTAWA - Canada's national unemployment rate was 5.5 per cent in January. Here are the jobless rates last month by province (numbers from the previous month in brackets):

Newfoundland and Labrador 11.9 per cent (11.8)

Friday, February 07, 2020 | 08:43 AM

National employment numbers for January from Statistics Canada, at a glance

OTTAWA - A quick look at January employment (numbers from the previous month in brackets):

Unemployment rate: 5.5 per cent (5.6)

Friday, February 07, 2020 | 08:41 AM

Ontario seeks way around Buy American policies with new trade strategy

TORONTO - Ontario says it will negotiate trade agreements with individual U.S. states in a bid to work around federal "Buy American" policies.

Premier Doug Ford's government is set to announce the new strategy today during a trip to Washington, D.C.

Friday, February 07, 2020 | 04:05 AM