Business News Summary Headlines

Company releases, economic news, and business coverage.

The Latest: Nobel winner thought message was scam at first

STOCKHOLM - The Latest on the Nobel Prize in economics (all times local):

1 a.m. Tuesday

Monday, October 14, 2019 | 08:37 PM

California regulator criticizes utility over power outages

SAN FRANCISCO - California's top utility regulator blasted Pacific Gas and Electric on Monday for what she called "failures in execution" during the largest planned power outage in state history to avoid wildfires that she said, "created an unacceptable situation that should never be repeated."

The agency ordered a series of corrective actions, including a goal of restoring power within 12 hours, not the utility's current 48-hour goal.

Monday, October 14, 2019 | 07:34 PM

3 economists who study poverty win Nobel Prize

STOCKHOLM - Two researchers from the Massachusetts Institute of Technology and a third from Harvard University won the 2019 Nobel Prize in economics on Monday for groundbreaking research into what works and what doesn't in the fight to reduce global poverty.

The award went to MIT's Abhijit Banerjee and Esther Duflo, and Harvard's Michael Kremer. The 46-year-old Duflo is the youngest person ever to win the prize and only the second woman, after Elinor Ostrom in 2009.

Monday, October 14, 2019 | 07:27 PM

Pope's bodyguard resigns over new financial leaks scandal

VATICAN CITY - The Vatican's latest scandal claimed its first victim Monday as Pope Francis' chief bodyguard resigned over the leak of a Vatican police flyer identifying five employees who were suspended as part of a financial investigation.

The Vatican said its police chief, Domenico Giani, bore no responsibility for the leaked flyer but resigned to avoid disrupting the investigation and "out of love for the church and faithfulness" to the pope.

Monday, October 14, 2019 | 05:44 PM

Canadian company enlists bees to deliver crop protection, plans rapid expansion

When Dave Passafiume bumped into some men at a conference looking for farmers to enlist bees in a test to distribute pest and disease control on crops, he considered the severe losses he sometimes saw on his strawberry fields and decided to give it a try.

"I wasn't sure what to expect," said the farmer, who operates an organic strawberry and apple operation in Markham, Ont. about 50 kilometres northeast of Toronto with his wife.

Monday, October 14, 2019 | 10:00 AM

China's trade with US shrinks again in September

BEIJING - China's trade with the United States fell by double digits again in September amid a tariff war that threatens to tip the global economy into recession.

Exports to the United States, China's biggest foreign market, fell 21.9% to $36.5 billion, a deterioration from August's 16% decline, customs data showed Monday. Imports of American goods sank 15.7% from the year before to $10.6 billion, an improvement over the previous month's 22% fall.

Monday, October 14, 2019 | 06:34 AM

For Huda Kattan, beauty has become a billion-dollar business

DUBAI, United Arab Emirates - From a humble start of leaving the world of finance to write a beauty blog, Huda Kattan now has become one of the most recognizable names in makeup around the world.

The 36-year-old Iraqi-American now runs her eponymous empire Huda Beauty, a makeup line valued at $1.2 billion that has fast become a favourite among A-list celebrities and artists around the world.

Monday, October 14, 2019 | 01:48 AM

'Joker' tops box office again, beats 'Addams Family'

LOS ANGELES - The first weekend was no fluke: "Joker" is a hit.

The R-rated comic book villain origin story had a phenomenal second weekend at the box office, topping the charts once more over newcomers such as the animated "The Addams Family" and the Will Smith action pic "Gemini Man."

Sunday, October 13, 2019 | 01:11 PM

Correction: California-New Laws story

SACRAMENTO, Calif. - In a story Oct. 12 about a California ban on the sale and manufacture of new fur products, The Associated Press erroneously identified the Humane Society of the United States as the Human Society of the United States.

A corrected version of the story is below:

Sunday, October 13, 2019 | 11:54 AM

Five things to watch for in the Canadian business world in the coming week

TORONTO - Five things to watch for in the Canadian business world in the coming week:

Aphria call Aphria Inc. will hold a conference call to discuss its first-quarter financial results on Monday. Cannabis company Aleafia Health Inc. announced on Oct. 8 that it is moving to terminate its wholesale pot supply agreement with Aphria, citing a "failure to meet its supply obligations."

Sunday, October 13, 2019 | 10:00 AM