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Business News Summary Headlines

Company releases, economic news, and business coverage.

Borrowing for retirees can be filled with challenges, but it's on the rise

OTTAWA - At 66, Wayne Hystad is signing on for a new mortgage in a move to consolidate his debt and allow him to keep his Edmonton condominium.

"It means I keep my place and I'll just have a higher mortgage, which I can handle," he says. "I can live now."

Thursday, May 18, 2017 | 10:00 AM

Applications for US jobless aid fell to 3-month low of 232K

WASHINGTON - Fewer people sought U.S. unemployment benefits last week, a sign Americans are benefiting from solid job security.

THE NUMBERS: Applications for weekly unemployment aid fell 4,000 to 232,000, the Labor Department said Thursday. That's the lowest level in nearly three months. The four-week average, a less volatile figure, declined 2,750 to 240,750.

Thursday, May 18, 2017 | 09:43 AM

Trudeau promotes Canadian tech, lures foreign investment at Microsoft summit

REDMOND, Wash. - Prime Minister Justin Trudeau visited Washington state Wednesday to promote Canada's growing technology industry to major multinational companies, joining top business leaders inside the closed-door Microsoft CEO Summit.

Trudeau's visit comes as U.S. President Donald Trump's administration poses both challenges and opportunities for Canada's high-tech industry. Trump's "America First" rhetoric and his plans to slash corporate taxes could mean more investment flows south of the border, but his restrictive approach to immigration could draw talent north, experts said.

Thursday, May 18, 2017 | 09:07 AM

Study cites significant challenge in detecting terrorism financing in crowdfunds

TORONTO - Canada's money-laundering watchdog is studying the use of crowdfunding platforms by suspected terrorists and says in an internal study that the reporting protocol poses a "significant challenge" in trying to identify such transactions.

The Fintrac report, obtained by The Canadian Press through an Access to Information request, says there is a lack of information available in electronic fund transfer reports on contributors to crowdfunding campaigns.

Thursday, May 18, 2017 | 09:03 AM

Weaver says Greens will fight pipeline, calls Clark's Liberals 'reckless'

VICTORIA - British Columbia's three Green members will use their increased political clout to fight Kinder Morgan's $7.4-billion Trans Mountain pipeline expansion project, party leader Andrew Weaver says.

Weaver reaffirmed the Greens' election campaign promises Wednesday to oppose the pipeline and the B.C. government's $8.8-billion Site C hydroelectric dam as the party enters high-stakes political negotiations with the New Democrats and Liberals over Green support.

Thursday, May 18, 2017 | 08:57 AM

Donald Trump Jr., Dubai business partner discuss 'new ideas'

DUBAI, United Arab Emirates - Donald Trump Jr. travelled to Dubai and met a billionaire business partner in the city-state, discussing "new ideas" as the Emirati's real estate firm still lists possible plans for future joint projects while Trump's father is in the White House.

The Trump Organization has said it won't make new foreign deals while Donald Trump serves as America's 45th president. That didn't affect the Trump International Golf Club in Dubai's opening in February , while a previously planned Trump-branded golf course designed by Tiger Woods is still being built nearby.

Thursday, May 18, 2017 | 08:50 AM

Little baloney in Carr's assertion that Canada has won softwood challenges

OTTAWA - "There were court challenges in these other disputes. We have won them all." Natural Resources Minister Jim Carr on April 25.

Thursday, May 18, 2017 | 07:30 AM

With waiver, US lets Iran keep getting benefits of nuke deal

WASHINGTON - The Trump administration took a key step Wednesday toward preserving the Obama-era nuclear deal with Iran, coupling the move with fresh ballistic missile sanctions to show it isn't going light on the Islamic republic.

The State Department said Iran would continue to enjoy relief from decades-old economic measures punishing Tehran for its nuclear program. Under the 2015 nuclear agreement, the U.S. lifted those sanctions. But Washington must issue periodical waivers to keep the penalties from snapping back into place and the most recent one was set to expire this week.

Wednesday, May 17, 2017 | 09:52 PM

Jhumpa Lahiri wins Malamud Award for short-story excellence

NEW YORK - Two short fiction collections by Jhumpa Lahiri have convinced prize judges that she's a worthy recipient of the PEN/Malamud Award for Excellence in the Short Story.

Lahiri will receive $5,000 and will read at a December ceremony in Washington, D.C.

Wednesday, May 17, 2017 | 09:11 PM

CBS pairs 'Big Bang' & spin-off; O'Brien re-ups with TBS

NEW YORK - "Young Sheldon" and his grown-up version on "The Big Bang Theory" will be paired on CBS' Thursday night schedule this fall.

The "Big Bang" spinoff, centred on star Jim Parsons' character as a precocious 9-year-old Texas high school student, is one of eight new series coming to CBS in the 2017-18 season, the network announced Wednesday.

Wednesday, May 17, 2017 | 06:59 PM