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Business News Summary Headlines

Company releases, economic news, and business coverage.

GM fights government to retain tax credit for electric cars

WASHINGTON - General Motors is fighting to retain a valuable tax credit for electric vehicles as the nation's largest automaker tries to deal with the political fallout triggered by its plans to shutter several U.S. factories and shed thousands of workers.

Preserving the $7,500 tax incentive for buyers is crucial for GM as the company pivots from internal combustion engines in favour of building cars powered by batteries or hydrogen fuel cells. Yet the layoffs and plant closings could imperil GM's push to keep the incentive. It helps make plug-ins such as the $36,000 Chevy Bolt more affordable at a time when competition from other electric vehicle makers is heating up.

Monday, December 10, 2018 | 07:44 AM

CUPE calls off Flair Airlines job action citing job security concerns

BURNABY, B.C. - The Canadian Union of Public Employees has called off a job action by 139 Flair Airlines flight attendants that was set to begin at midnight tonight.

The union cites concerns for the job security of members of CUPE Local 4060 for its decision. It says in a release that Flair Airlines issued memos to employees advising that anyone taking part in the job action would not be scheduled for further work.

Monday, December 10, 2018 | 06:04 AM

S. Korea charges 4 with illegally importing N. Korean coal

SEOUL, Korea, Republic Of - South Korean prosecutors said Monday that they have charged four people with illegally importing North Korean coal via Russia in violation of U.N. sanctions.

The indictments, handed down on Friday, came four months after customs authorities accused three of the four of using forged documents to illicitly import 35,000 tons of North Korean coal and other minerals worth $5.8 million.

Monday, December 10, 2018 | 05:31 AM

Equalization formula a hot topic as finance ministers meet

OTTAWA - For the first time in a decade Ontario will not receive an equalization transfer from Ottawa, prompting the province's finance minister to join calls for the federal government to review how the program is set up.

Canada's finance ministers are in Ottawa for the second of their two yearly meetings, which started with a working dinner at an Ottawa hotel Sunday night.

Monday, December 10, 2018 | 04:00 AM

Macron to break silence, address French nation amid protests

PARIS - Pressure mounted on French President Emmanuel Macron to announce concrete measures to calm protests marked by violence when he addresses the nation Monday evening, and breaks a long silence widely seen as aggravating a crisis that has shaken the government and the whole country.

The president will consult in the morning with an array of national and local officials as he tries to get a handle on the ballooning and radicalizing protest movement triggered by anger at his policies, and a growing sense that they favour the rich.

Sunday, December 09, 2018 | 05:21 PM

'Ralph' tops box office again, 'Aquaman' is a hit in China

NEW YORK - In the calm before the Christmas storm at the box office, "Ralph Breaks the Internet" remained No. 1 for the third straight week, while the upcoming DC Comics superhero film "Aquaman" arrived with a cannonball-sized splash in Chinese theatres.

For the second week in a row, no new wide releases opened in North American theatres, allowing Disney's animated sequel to again lead domestic ticket sales with $16.1 million, according to studio estimates Sunday.

Sunday, December 09, 2018 | 03:20 PM

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:

Big business convention

Sunday, December 09, 2018 | 10:00 AM

Coalition aims to put First Nations in the driver's seat on major projects

Tired of waiting for major construction projects to come to them, a growing coalition of First Nations is instead taking the lead on ventures to better control their economic futures.

"We really are in a place looking to diversify our economies," said Jasmine Thomas, a councillor of the Saik'uz First Nation in central British Columbia.

Sunday, December 09, 2018 | 10:00 AM

Critics call for more transparency on Toronto's planned high-tech neighbourhood

TORONTO - Critics of a proposed high-tech neighbourhood planned for Toronto's waterfront called for more transparency in the decision-making process amid mounting concerns over how the companies involved will handle privacy and data governance.

At a public meeting on the project Saturday, Bianca Wylie, co-founder of the advocacy group Tech Reset Canada, said it would be valuable for the public to be more in the loop as a draft of the plan is being finalized.

Saturday, December 08, 2018 | 11:06 PM

Rioting engulfs Paris as anger grows over high French taxes

PARIS - The rumble of armoured police trucks and the hiss of tear gas filled central Paris on Saturday, as French riot police fought to contain thousands of yellow-vested protesters venting their anger against the government in a movement that has grown more violent by the week.

A ring of steel surrounded the president's Elysee Palace a key destination for the protesters as police stationed trucks and reinforced metal barriers throughout the neighbourhood.

Saturday, December 08, 2018 | 08:59 PM