Company releases, economic news, and business coverage.
MONTREAL - Air Canada has decided to remove its grounded Boeing 737 Max 8 jets from service until at least July 1 in order to provide more certainty for passengers that wish to book flights in the coming months.
Canada's largest airline announced Tuesday that it has taken several steps to adjust since the Max 8s were grounded last week by Transport Canada as part of an international response to the March 10 crash of an Ethiopian Airlines plane.
FREDERICTON - New Brunswick Finance Minister Ernie Steeves has tabled a $9.8-billion budget for 2019-20 on Tuesday. Here are some highlights:
— A projected surplus of $23 million, while the current net debt of $14.1 billion is expected to decline by $49 million — the first drop in the debt in 13 years.
FREDERICTON - New Brunswick's minority Tory government tabled a $9.8 billion budget Tuesday — projecting a $23 million surplus and the first reduction in the net debt in 13 years.
The debt is currently estimated at $14.1 billion, and is expected to decline by $49 million by this time next year.
PROVIDENCE, R.I. - Wells Fargo Securities has agreed to pay an $800,000 civil penalty to settle a U.S. Securities and Exchange Commission lawsuit over Rhode Island's failed $75 million deal with former Boston Red Sox pitcher Curt Schilling's video game company.
Wells Fargo and the SEC announced the proposed settlement in filings Monday with the U.S. District Court in Providence. A federal judge must approve it.
TORONTO - Canadian women are paid 25 per cent less than men and the gap widens further when it comes to bonuses and profit sharing, according to a new study.
The research commissioned by ADP Canada concluded that based on self-reported figures, Canadian women say they earn on average $49,721 per year compared to $66,504 for men.
SAN FRANCISCO - The Wall Street Journal reports that the National Enquirer's publisher paid $200,000 to obtain intimate texts between Amazon CEO Jeff Bezos and his mistress Lauren Sanchez. American Media Inc., the supermarket tabloid's publisher, reportedly paid that sum to Michael Sanchez, Lauren's brother.
The Journal's finding, attributed to people familiar with the matter, parallels the conclusion reached by private investigators working for Bezos as of early February. Those investigators reportedly found that Michael Sanchez had leaked the texts to the Enquirer, although they didn't appear to conclude who might have paid for them.
RICHMOND, Va. - A federal appeals court is set to hear arguments in a lawsuit that claims President Donald Trump is violating the Constitution by accepting profits from foreign and domestic officials through his hotel in Washington.
The attorneys general of Maryland and the District of Columbia say government spending at the Trump International Hotel violates the Constitution's emoluments clause. The clause bans federal officials from accepting benefits from foreign or state governments without congressional approval.
OTTAWA - The Trudeau government will attempt to set the stage for this fall's election — and provide some distraction from the SNC-Lavalin affair — with today's end-of-mandate budget touting the Liberals' economic record.
The Liberal government's fourth and final budget before the election is expected to include measures to help first-time home buyers, seniors and adult Canadians who want to return to school for skills training.
WASHINGTON - U.S. prosecutors are looking into the development of Boeing's 737 Max jets, a person briefed on the matter revealed Monday, the same day French aviation investigators concluded there were "clear similarities" in the crash of an Ethiopian Airlines Max 8 last week and a Lion Air jet in October.
The Justice Department probe will examine the way Boeing was regulated by the Federal Aviation Administration, said the person, who asked not to be identified because the inquiry is not public.
NEW YORK - Lyft officially kicked off the road show for its initial public offering, saying Monday it plans to put more than 30 million shares up for sale with an anticipated price of between $62 and $68 per share.
That would raise more than $2 billion for the San Francisco ride-hailing company, pegging its market value at $20 billion to $25 billion, even though it hasn't been able to turn a profit yet.