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Business News Summary Headlines

Company releases, economic news, and business coverage.

A media giant in the balance: AT&T antitrust trial kicks off

NEW YORK - On Monday, AT&T squares off against the federal government in a trial that could shape how you get and how much you pay for streaming TV and movies.

AT&T says it needs to gobble up Time Warner if it's to have a chance against the likes of Amazon, Netflix and Google in the rapidly evolving world of video entertainment.

Friday, March 16, 2018 | 10:53 AM

Statistics Canada says manufacturing sales fell more than expected in January

OTTAWA - Canadian manufacturing sales fell by a wider-than-expected one per cent in January, starting off the year on a weak note.

Statistics Canada reported manufacturing sales for January totalled $54.9 billion as 14 of the 21 industries moved lower, while overall manufacturing sales in volume terms declined 1.1 per cent. The decline was led by the automotive, aerospace and primary metal industries.

Friday, March 16, 2018 | 10:41 AM

US February housing starts fell 7 pct after January surge

WASHINGTON - U.S. homebuilders broke ground on fewer apartment complexes in February, causing overall housing starts to fall 7 per cent.

The Commerce Department said Friday that housing starts last month were at a seasonally adjusted annual pace of 1.24 million, a decline that was anticipated after construction surged in January to 1.33 million.

Friday, March 16, 2018 | 09:48 AM

No way to know if debt to income ratio has climbed too high: federal officials

OTTAWA - With a popular measure that shows Canadians' soaring debt remains in record-breaking territory, the federal government has acknowledged internally there's no way of knowing whether the burden has climbed too high.

A recently released federal analysis, prepared for Finance Minister Bill Morneau, said the country's household-debt-to-disposable-income ratio has been steadily rising since 1990, when it was 90 per cent. That translates to 90 cents in debt for every dollar of household disposable income.

Friday, March 16, 2018 | 08:53 AM

Trans Mountain granted injunction against pipeline protesters at two B.C. sites

VANCOUVER - Protesters must be restrained from obstructing the expansion of the Trans Mountain pipeline, says a British Columbia Supreme Court judge who has granted the company an injunction aimed at preventing people from entering within five metres of two work sites.

Justice Kenneth Affleck said Thursday he felt it necessary to make a decision on the second day of a hearing instead of issuing a written order involving outraged demonstrators who have blocked vehicles and workers at the Burnaby Terminal and the Westridge Marine Terminal.

Friday, March 16, 2018 | 08:53 AM

Ottawa 'determined' to see Trans Mountain pipeline expanded: minister

VANCOUVER - Canada's natural resources minister says Ottawa is determined to see the Trans Mountain pipeline expanded, despite an interprovincial dispute on whether the project should go ahead.

Jim Carr said the federal government approved the project because broad consultations determined it was in the national interest and will help facilitate a transition to clean energy.

Friday, March 16, 2018 | 08:52 AM

'Slap Rihanna' ad on Snapchat brings outrage, apologies

LOS ANGELES - An ad on Snapchat asking users if they'd rather "Slap Rihanna" or "Punch Chris Brown" has spawned widespread outrage, including from the singer herself, and brought profuse apologies from the company behind the visual-messaging app.

Snapchat said it is investigating how the ad for a mobile video game called "Would You Rather" made it to the app.

Friday, March 16, 2018 | 08:00 AM

Vanishing Vero? Fading hype for social media fad shows fickle nature of Internet

TORONTO - It seems like just yesterday that the Internet was overtaken with viral hype over Vero, a new social network that promised to right all the frustrating wrongs of the well-entrenched leaders like Facebook, Instagram and Twitter.

But after a few weeks of making headlines and signing up scores of curious social media users, the deafening buzz has abated.

Friday, March 16, 2018 | 05:00 AM

Integra Air to operate for Orca Airways after Transport Canada suspension

VANCOUVER - Calgary-based Integra Air is stepping in to operate Orca Airways flights after Transport Canada pulled Orca's operator certificate on Thursday citing a failure to meet regulatory requirements.

"Integra Air is currently in the process of negotiating aircraft, crews and management to support Orca Airways and prevent any further interruption to Orca passengers and customers," said Integra CEO John Macek in a press release.

Thursday, March 15, 2018 | 07:38 PM

Radio giant iHeartMedia files bankruptcy plan to reduce debt

NEW YORK - IHeartMedia, one of the world's largest radio companies, is seeking bankruptcy protection as part of an agreement with its lenders to reduce debt it took on to become a privately held company.

The company formerly known as Clear Channel Communications said Thursday that it will operate its businesses as usual while it restructures its finances under Chapter 11 protection to reduce debt by more than $10 billion.

Thursday, March 15, 2018 | 07:15 PM