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Business News Summary Headlines

Company releases, economic news, and business coverage.

Energy sector helps boost stocks in Toronto while loonie slips lower

A rise in oil prices helped the energy sector boost Canada's main stock index Friday, though the loonie moved lower for a fourth consecutive day as trade worries continue.

The S&P/TSX composite index was up 40.71 points to close at 15,711.33, up 0.86 per cent in the week.

Friday, March 16, 2018 | 05:10 PM

Most actively traded companies on the TSX

Some of the most active companies traded Friday on the Toronto Stock Exchange:

Toronto Stock Exchange (15,711.33, up 40.71 points)

Friday, March 16, 2018 | 04:51 PM

Enbridge, TransCanada shares flat after steep dive due to U.S. tax ruling

CALGARY - Shares in Canadian pipeline companies Enbridge Inc. and TransCanada Corp. failed to recover fully Friday from a steep sell-off on Thursday after the U.S. said it would eliminate a tax break for owners of certain interstate pipelines.

Both Calgary-based companies hold such pipelines in the United States through master limited partnerships or MLPs.

Friday, March 16, 2018 | 04:46 PM

Washington state is "allied" with B.C. on Trans Mountain pipeline: governor

VANCOUVER - The governor of Washington says his state is "allied" with British Columbia in questioning whether the Trans Mountain pipeline should be expanded.

The project poses a threat to waters off the West Coast, which Washington residents view as a treasure, and the state is looking at marine safety laws that would help mitigate the impact of a tanker spill, Gov. Jay Inslee said Friday at a meeting with B.C. Premier John Horgan and officials from Oregon and California.

Friday, March 16, 2018 | 04:08 PM

CP Rail pays CEO Creel $20 million, including $10 million in options

CALGARY - Canadian Pacific Railway Ltd. says it paid CEO Keith Creel $20.1 million last year, including $10.5 million in stock options.

That's more than double his compensation in 2016 of $8.9 million when he was president and chief operating officer. He took over the top job as of Jan. 31, 2017, when Hunter Harrison abruptly left the railroad and was later hired by U.S. railroad CSX.

Friday, March 16, 2018 | 03:58 PM

Canadian CEO charged with conspiring to sell unhackable phones to criminals

TORONTO - The United States has arrested and charged the chief executive of cybersecurity firm Phantom Secure, alleging the Vancouver-area businessman has conspired to provide drug traffickers with modified BlackBerry smartphones to evade law enforcement.

Vincent Ramos of Richmond, B.C., was arrested March 7 in Bellingham, Wash., near Seattle, and faces criminal charges filed with a U.S. district court in San Diego, Calif. Those records are sealed.

Friday, March 16, 2018 | 03:47 PM

OSC charges Stanislaw Pasyk with fraud in sale of securities of A4 Diamonds

TORONTO - The Ontario Securities Commission has charged a man with fraud in connection with the sale over $1 million worth of securities in A4 Diamonds Inc. to investors.

The provincial regulator says it has charged Stanislaw Pasyk with one count of fraud over $5,000 and one count of false prospectus.

Friday, March 16, 2018 | 12:59 PM

Cosmetics giant L'Oreal buys Toronto augmented reality startup ModiFace

TORONTO - When University of Toronto engineering professor Parham Aarabi first began researching face tracking technology, it never occurred to him that his resulting startup would later be snapped up by the world's biggest cosmetics company, L'Oreal.

In fact, Aarabi thought the initial application of what is now ModiFace's lip and eye tracking capabilities would be speech recognition in noisy environments, he said.

Friday, March 16, 2018 | 12:57 PM

$1.6B contract one of three awarded for Site C dam in northeastern B.C.

VANCOUVER - A $1.6 billion contract has been awarded for construction of the Site C hydroelectric dam in northeastern British Columbia, just three months after the province's NDP government reluctantly allowed the megaproject to continue.

BC Hydro says the contract has been awarded to Aecon-Flatiron-Dragados-EBC Partnership to build the dam's generating station and spillways, with work beginning this spring.

Friday, March 16, 2018 | 12:49 PM

US job openings soar to record high of 6.3 million

WASHINGTON - U.S. employers sharply ramped up their demand for workers in January, advertising 6.3 million jobs at the end of the month, the most on records dating back 17 years.

The number of job opening soared 645,000 in January, the Labor Department said Friday, the largest one-month increase in 2 1/2 years. The number of people hired ticked up and fewer Americans quit in January compared with the previous month.

Friday, March 16, 2018 | 12:06 PM