Business News Summary Headlines

Company releases, economic news, and business coverage.

Statistics Canada reports wholesale sales up 0.6 per cent in June

OTTAWA - Statistics Canada says wholesale sales climbed 0.6 per cent to $64.1 billion in June following a drop of 1.9 per cent in May.

Economists had expected an increase of 0.3 per cent for June, according to the financial markets data firm Refinitiv.

Thursday, August 22, 2019 | 08:52 AM

Estate planning for Fido: How to make sure pets live the good life if you go

If four-year-old Gracie's parents die, a trusted family member receives $10,000 from their estate to care for the Bernese Mountain Dog and poodle mix.

Gracie's owner Suzanne Willett is part of a growing number of Canadians who include their furry family members in estate plans to ensure they're well cared for if something happens to their humans.

Thursday, August 22, 2019 | 08:00 AM

Trump flip-flops on tax cuts, saying US has 'strong economy'

WASHINGTON - A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had "a strong economy."

Trump's flip-flop on Wednesday came after recent market volatility and economic uncertainty, and amid a debate about whether the United States was heading for a slowdown that would imperil his reelection chances. Trump earlier this week acknowledged, for the first time, that his China trade policies may mean economic pain for Americans, though he insisted the tariffs are needed for more important long-term benefits.

Thursday, August 22, 2019 | 06:12 AM

Retail giants face pressure to change chemical-coated receipt paper

Some of Canada's biggest retailers started testing alternatives to receipt paper that's coated in potentially dangerous chemicals, as pressure mounts for them to phase it out by the end of this year.

"We urge you to take immediate steps to stop using thermal paper containing bisphenols for receipts and other paper products in Canada," reads a letter from a conglomerate of health, labour and environmental groups sent to 13 retailers, including major grocers and fast-food chains.

Wednesday, August 21, 2019 | 07:03 PM

Pembina CEO says 'noise' makes Trans Mountain pipeline bid unlikely

CALGARY - The CEO of Pembina Pipeline Corp. says the Trans Mountain pipeline system would fit neatly into his company's business model but he wouldn't want the "noise" associated with its controversial expansion project.

On a conference call to discuss his company's agreement announced Wednesday to purchase Kinder Morgan Canada Ltd., Mick Dilger was non-committal when asked if Pembina would consider buying the pipeline which Kinder Morgan sold to the federal government last year.

Wednesday, August 21, 2019 | 06:33 PM

Retailers' results show sharp divide between losers, winners

NEW YORK - The divide between retail winners and losers is widening.

That became even more evident Wednesday with the latest batch of earnings reports: Big-box stores and off-price retailers have been responding faster to shoppers' increasing shift online with expanded deliveries and better merchandise. But many mall-based clothing chains and department stores continue to suffer weak sales as they struggle to lure in shoppers.

Wednesday, August 21, 2019 | 06:02 PM

Germany's Merkel dangles possibility of negotiated Brexit

BERLIN - German Chancellor Angela Merkel raised the possibility that a negotiated departure for Britain from the European Union might still be possible even as the clock is ticking on a deal that would satisfy both sides.

Speaking Wednesday alongside U.K. Prime Minister Boris Johnson before the two leaders held bilateral talks in Berlin, Merkel indicated that a solution for the contentious Irish border issue might yet be reached before the Brexit date of Oct. 31.

Wednesday, August 21, 2019 | 06:01 PM

Spill revelation raises questions about North Dakota system

BISMARCK, N.D. - The North Dakota Health Department's acknowledgment this week that a 2015 pipeline leak of liquid natural gas is hundreds of thousands of gallons larger than reported raises questions about how many other spills and leaks are underreported and state officials were not immediately able to answer Wednesday.

State Environmental Quality Chief Dave Glatt said the agency does not update initial public reports on spills but is considering doing so in the future.

Wednesday, August 21, 2019 | 05:59 PM

Trans Mountain puts contractors on notice to get ready for pipeline restart

OTTAWA - Construction on the Trans Mountain pipeline expansion project is set to restart in the next month, just in time for the official kick-off of the federal election.

Trans Mountain Corp., the federal crown agency that owns and operates the pipeline, said Wednesday that work on the terminals in Burnaby, B.C. is set to restart immediately, while work laying pipe on the route in parts of Alberta are on track to start within the next month. Construction contractors were told they have 30 days to hire workers, prepare detailed construction plans and mobilize equipment.

Wednesday, August 21, 2019 | 05:44 PM

North American stock markets almost recover from last week's big losses

TORONTO - North American stock indexes have almost recovered from last week's steep losses after moving higher midweek on some strong earnings results.

The S&P/TSX composite index closed up 95.92 points at 16,309.23, about 30 points shy of where it was before last week's major drops.

Wednesday, August 21, 2019 | 05:11 PM