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Business News Summary Headlines

Company releases, economic news, and business coverage.

Arizona Mining shares up on takeover offer by Australian company South32

VANCOUVER - Shares of Arizona Mining Inc. soared in early trading after the company announced a deal to be acquired by Australian company South32 Ltd. that valued the company at about $2.1 billion.

Under the deal, South32, which already holds a 17 per cent stake in the company, has agreed to pay $6.20 per share for the shares it does not already hold.

Monday, June 18, 2018 | 09:58 AM

Auto parts firm Magna plans electric vehicle joint ventures with Chinese company

AURORA, Ont. - Magna International Inc. says it will form two new joint ventures with a Chinese company to engineer and build electric vehicles.

The Ontario-based auto parts company and Beijing Electric Vehicle Co. Ltd., a subsidiary of the BAIC Group, are expected to take over an existing BAIC manufacturing facility where the first production vehicles are planned for 2020. The plant has the capacity to build up to 180,000 vehicles per year.

Monday, June 18, 2018 | 09:05 AM

Audi CEO detained in diesel emissions case

BERLIN - German authorities on Monday detained the chief executive of Volkswagen's Audi division, Rupert Stadler, as part of a probe into manipulation of emissions controls.

The move follows a search last week of Stadler's private residence, ordered by Munich prosecutors investigating the manager on suspicion of fraud and indirect improprieties with documents.

Monday, June 18, 2018 | 05:56 AM

Indigenous protesters in Washington declare Trans Mountain won't be built

VANCOUVER - Cedar George-Parker remembers the moment he decided to devote his life to defending Indigenous people and their traditional territories. It was the one-year anniversary of a shooting at his high school that killed four of his classmates in Marysville, Wash.

"I dropped to my knees and I said, 'I'm going to make a change in the world,' " he recalled.

Monday, June 18, 2018 | 04:00 AM

Prada redefines youthful elegance with psychedelic flair

MILAN - Youthful designers injected energy into the third day Sunday of Milan Fashion Week menswear previews for next spring and summer.

While the topics of generational and creative change at some of the most-established Milan fashion houses were running in the background, young brands carved out their own space to grow by their own rules.

Sunday, June 17, 2018 | 07:59 PM

Ramifications of a trade war: an expert look at the numbers for Canada

OTTAWA - A new analysis of escalating trade disputes involving the United States warns that a deterioration into an all-out, global trade war would knock North America's economies into recession.

The report by Scotiabank said if the U.S. breaks all trade ties with its partners and imposes across-the-board tariffs that average 20 per cent then Canada and Mexico would see their economies contract in 2020.

Sunday, June 17, 2018 | 01:00 PM

Get ready for the 'internet of cows': Farmers use technology to shake up agriculture

MONTREAL - Get ready for the "internet of cows."

Generations of farmers have relied on knowledge and family expertise to grow food, but the sector is set for a surge of disruption at the hands of made-in-Canada artificial intelligence-powered systems.

Sunday, June 17, 2018 | 11:47 AM

Five things to watch for in the Canadian business world in the coming week

TORONTO - Five things to watch for in the Canadian business world in the coming week:

Reading the BoC tea leaves

Sunday, June 17, 2018 | 10:00 AM

UK PM vows big funding increase for National Health Service

LONDON - British Prime Minister Theresa May has announced a significant funding increase for the country's beleaguered National Health Service.

The prime minister said the NHS will receive an additional 384 million pounds ($510 million) per week once Britain leaves the European Union next March. She linked the increased funding to Brexit in a column published in the Mail on Sunday.

Sunday, June 17, 2018 | 07:29 AM

From marijuana beer to pot cookies, Canadian companies creating cannabis edibles

VANCOUVER - Beer brewed with marijuana, baking mixes concocted to bring out the unique flavours of cannabis oil and good, old-fashioned pot cookies: Canadian companies are creating them all, but it's unclear when stores will legally be able to stock the edibles for recreational users.

Instead, business owners have been getting creative to manufacture, refine and sell their products.

Sunday, June 17, 2018 | 07:00 AM