Business News Summary Headlines

Company releases, economic news, and business coverage.

Fugitive Ghosn brings global attention to Japanese justice

TOKYO - Though former Nissan Chairman Carlos Ghosn is unlikely to stand trial in a real court, he has made himself a key witness in putting Japan's justice system on trial.

In his first public appearance after fleeing to Lebanon, Ghosn lambasted what he called unfair detention and bail conditions, saying he was presumed guilty and had “zero chance” of a fair trial in a system rigged against him.

Thursday, January 09, 2020 | 06:30 PM

White House proposes dramatic overhaul of environmental approval process

WASHINGTON - Donald Trump, whose past as a New York real estate developer makes him no stranger to red tape, unveiled sweeping plans Thursday to overhaul the way the United States evaluates the environmental impact of major infrastructure and energy projects.

The U.S. president billed his proposed changes to the National Environmental Policy Act as a long-overdue effort to shorten and streamline a bureaucratic approval process emblematic of big government, while critics denounced it as written proof of how much contempt he holds for climate change.

Thursday, January 09, 2020 | 06:01 PM

Fashion retailer Aritzia shares climb as earnings rise, beats expectations

VANCOUVER - Shares in Aritzia Inc. jumped 17 per cent Thursday to a record close after the company's latest financial results topped expectations and it signalled continued expansion ahead.

The Vancouver-based fashion retailer said its net revenue grew 10 per cent in the quarter compared with a year ago, while comparable store sales, a key metric for retailers, rose 5.1 per cent.

Thursday, January 09, 2020 | 04:54 PM

Investor relief sends North American stock markets to record intraday highs

TORONTO - Relief about a reduced risk of war in the Middle East sent North American stock markets to new highs Thursday.

Markets returned to a risk-on mode after a couple of days of volatility over concerns that the U.S. drone killing of a top Iranian general would result in an all-out conflict between the adversaries, says Candice Bangsund, portfolio manager for Fiera Capital.

Thursday, January 09, 2020 | 04:49 PM

Oilsands producer Cenovus aims for 'net zero' GHG emissions by 2050

CALGARY - Oilsands producer Cenovus Energy Inc. said Thursday it will aim to achieve "net zero" greenhouse gas emissions by 2050, joining a recent cavalcade of oil companies trumpeting their environmental aspirations.

The Calgary-based firm also announced it intends to reduce its emissions per barrel by 30 per cent by 2030, while keeping flat its total emissions.

Thursday, January 09, 2020 | 02:56 PM

France sees more nationwide protests of pension changes

PARIS - French rail workers, teachers, doctors, lawyers and others joined a fourth day of nationwide protests and strikes Thursday to denounce President Emmanuel Macron's plans to overhaul the pension system.

Street protests were staged in Paris and other French cities as the government and labour unions pushed on with negotiations aimed at ending railway strikes over the proposed changes that started on Dec. 5.

Thursday, January 09, 2020 | 02:27 PM

Bank of Canada to seek nominations for who should be on the new $5 bill

VANCOUVER - Bank of Canada governor Stephen Poloz says the central bank is working on plans for a new $5 bill.

Speaking in Vancouver, Poloz says the bank will soon be launching public consultations about who should appear on the new bill.

Thursday, January 09, 2020 | 01:49 PM

Lawmakers approve Brexit bill, UK on course for Jan 31 exit

LONDON - Britain passed a long-elusive milestone on the road to Brexit on Thursday when the House of Commons approved a bill authorizing the country’s departure from the European Union at the end of the month.

Lawmakers voted by 330-231 to pass the Withdrawal Agreement Bill, which sets the terms of Britain’s departure from the 28-nation bloc. The comfortable majority won by Prime Minister Boris Johnson’s Conservatives in an election last month secured the bill's passage despite the opposition of smaller parties.

Thursday, January 09, 2020 | 01:45 PM

Swoop adds flights in Atlantic Canada, seeking to lure Air Canada customers

WestJet Airlines Ltd.'s budget airline Swoop plans to add flights to three eastern cities from Hamilton this summer, the parent carrier's latest move to challenge Air Canada's dominance in Atlantic Canada.

Swoop's new routes to St. John's, N.L., Moncton, N.B., and Charlottetown will run between late June and late October. WestJet and its regional service WestJet Encore already fly to the three cities from Toronto.

Thursday, January 09, 2020 | 01:31 PM

Postmedia reports Q1 loss as drop in print-related revenue offsets digital gain

TORONTO - Postmedia Network Canada Corp. had a $3-million loss in its first quarter as overall revenue declined 8.5 per cent from a year earlier due to lower print advertising and circulation revenue, the company announced Thursday.

The owner of Canada's largest newspaper group, including the National Post, says overall revenue was $156.7 million for the three months ended Nov. 30, down from $171.3 million a year earlier.

Thursday, January 09, 2020 | 12:44 PM