Company releases, economic news, and business coverage.
CALGARY - The restart of crude oil production at Imperial Oil Ltd.'s Norman Wells oilfield after a two-year shutdown means both economic optimism and cleaner air for the 800 or so residents of the remote Northwest Territories town.
"Obviously, a producing plant is going to require people and that creates employment, creates activity in our community," interim town manager Darren Flynn said.
BISMARCK, N.D. - The developer of the Dakota Access pipeline is gauging shippers' interest in a possible expansion of the volume of crude oil moved through the pipeline from 500,000 barrels to 570,000 barrels per day, despite ongoing tribal efforts to shut the pipeline down.
Texas-based Energy Transfer Partners began seeking commitments from shippers to transport additional oil on Friday. The pipeline's permit in North Dakota allows it to ship up to 600,000 barrels per day. North Dakota produced nearly 1.3 million barrels of oil per day in August, the most recent month for which data is available.
NEWARK, N.J. - Hasbro, wrestling with the demise of Toys R Us and elusive shoppers spending a lot more on high-tech gadgets, fell well short of third-quarter expectations Monday and said it will cut some jobs to save costs.
The toy maker, whose brands include Monopoly and Play-Doh, did not specify the exact number of layoffs, but said it will affect a "mid-single digit" percentage of its worldwide workforce. Hasbro had about 5,400 employees at the end of last year; a 5 per cent cut would put the layoffs at about 270 jobs. Hasbro said it will absorb charges of as much as $60 million in the next quarter related to paying severance.
OTTAWA - Statistics Canada says wholesale sales fell 0.1 per cent in August to $63.6 billion.
Economists had expected no change to the figure for the month, according to Thomson Reuters Eikon.
WASHINGTON - At first glance, it sounds like another dusty, pinstriped political gathering with a yawn-inducing agenda — dispute resolution systems, the appellate body appointment process and plurilateral solutions to the international trade and development nexus.
Fair enough — the existential issues confronting the monolithic World Trade Organization have rarely been the stuff of tabloid headlines.
LONDON - Stephen Hawking was a cosmic visionary, a figure of inspiration and a global celebrity.
His unique status is reflected in an upcoming auction of some of the late physicist's possessions: It includes complex scientific papers, one of the world's most iconic wheelchairs and a script from "The Simpsons."
MONTREAL - Bombardier is suing Mitsubishi Aircraft in the United States over alleged trade secret misappropriation.
The Quebec aerospace company alleges some of its own former employees passed on documents containing trade secrets to Mitsubishi before going to work for the company.
OTTAWA - Conservative Leader Andrew Scheer marked the start of the one-year countdown to the 2019 election with a campaign-style speech that took direct aim at the Liberal government's record — on everything from carbon taxes, to ethics, to budgetary deficits.
Scheer even did an impression of the man he succeeded as leader of the Tories — former prime minister Stephen Harper — as he criticized the Trudeau government's handling of the federal finances.
OTTAWA - The union representing 50,000 Canada Post employees says it will begin rotating strikes if a deal isn't reached by the deadline early Monday morning.
The Canadian Union of Postal Workers says strikes will begin at 12:01 a.m. Monday in Victoria, Edmonton, Windsor and at 1:10 a.m. in Halifax and will last for 24 hours.
TORONTO - Ontario's former privacy commissioner has resigned from her consulting role at a company that is preparing to build a high-tech community at Toronto's waterfront, citing concerns that a privacy framework she developed is being overlooked.
Ann Cavoukian says she stepped down from Google sister company Sidewalk Labs on Friday following a meeting earlier in the week, when the organization said it could not guarantee people's personal information would be protected.