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Business News Summary Headlines

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Nova Scotia community hopes rocket launch site will revitalize economy

CANSO, N.S. - Residents of a sleepy fishing village on Nova Scotia's eastern coast are looking to the stars to breathe new life into their economy as a proposal to install Canada's only commercial spaceport inches closer to becoming a reality.

Developers, municipal officials, construction workers and other stakeholders are set to meet in the Halifax area on Monday to discuss plans to establish a launch complex near Canso.

Monday, December 11, 2017 | 08:40 AM

Companies must focus on managing cyber-attacks, not eliminating them

TORONTO - Companies trying to stay ahead of the increasing threat of cyberattacks need to be cognizant of one simple fact: there is no perfect antidote or turnkey solution against criminals bent on breaching their systems.

"Everyone is hacking into everything," said Benoit Dupont, professor of criminology at the University of Montreal and the Canada Research Chair in Cybersecurity.

Monday, December 11, 2017 | 08:36 AM

'Tis the season for doorstep stealing? Shoppers vent about delivery security

Todd Bailey is fed up with delivery companies that drop his online purchases at his door.

A few years ago, the Grande Prairie, Alta., resident was at the hospital for the birth of his child when a big-screen TV he had ordered was left on his front stoop.

Monday, December 11, 2017 | 08:35 AM

Smoke alarm sets off fire scare in Austrian Alpine tunnel

BERLIN - A fire alarm inside a railway tunnel being built under the Austrian Alps prompted workers briefly to take shelter in an underground safety area Monday, a project manager said.

Eighteen people were working on a tunnel-boring machine inside the Brenner tunnel construction site when the alarm went off, said Konrad Bergmeister, the Austrian CEO of project management company BBT SE. It turned out to be a false alarm, he said.

Monday, December 11, 2017 | 05:29 AM

France to name winners of anti-Trump climate change grants

PARIS - Several U.S.-based climate scientists are about to hit the jackpot, as French President Emmanuel Macron prepares to award them multi-year, all-expenses-paid grants to relocate to France.

The "Make Our Planet Great Again" grants are part of Macron's efforts to counter U.S. President Donald Trump on the climate change front. Macron announced a competition for the projects in June, hours after Trump declared he would withdraw the U.S. from the global accord reached in Paris in 2015 to reduce climate-damaging emissions.

Monday, December 11, 2017 | 05:24 AM

Snow wreaks havoc on travellers in Britain, schools closed

LONDON - Snow and wintry weather are still wreaking havoc on travellers in Britain, with flights cancelled, roads sheathed in ice and rail travel disrupted.

With temperatures dropping overnight as low as minus 11.6 Celsius (11 degrees Fahrenheit), hundreds of schools were closed Monday. Europe's largest airport, Heathrow, warned Monday that some flights would be cancelled as it cleared the backlog of flights delayed by Sunday's snowfall.

Monday, December 11, 2017 | 04:58 AM

Baby milk maker orders global recall over salmonella fears

PARIS - French baby-milk maker Lactalis has ordered a global recall of millions of products over fears of salmonella bacteria contamination.

The company, one of the largest dairy products group in the world, said it has been warned by health authorities in France that 26 infants have become sick since Dec. 1.

Monday, December 11, 2017 | 04:54 AM

Bitcoin futures rise as virtual currency hits major exchange

CHICAGO - The first-ever bitcoin future jumped after it began trading Sunday as the increasingly popular virtual currency made its debut on a major U.S. exchange.

The futures contract that expires in January surged more than $3,000 to $18,580 eight hours after trading launched on the Chicago Board Options Exchange. The contract opened at $15,000, according to data from the CBOE.

Monday, December 11, 2017 | 04:47 AM

Asian investors embrace bitcoin, but regulators are wary

HONG KONG - The weekend launch of a U.S. futures contract for bitcoin reflects widespread acceptance of the virtual currency, especially among investors in Asia, though regulators are wary.

Japan and South Korea are among the world's top five markets for bitcoin trading, according to sites that track trading volume by currency. Here's a glance at the digital currency's rise in some of the region's major markets:

Monday, December 11, 2017 | 04:35 AM

Canadian financial companies funding overseas coal plants as feds push phase-out

OTTAWA - Canada's national pension fund manager is among a group of Canadian companies that are undermining the federal government's international anti-coal alliance by investing in new coal power plants overseas, an environmental organization says.

Friends of the Earth Canada joined with Germany's Urgewald to release a report today looking at the top 100 private investors putting money down to expand coal-fired electricity sometimes in places where there isn't any coal-generated power at the moment.

Monday, December 11, 2017 | 04:00 AM