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Business News Summary Headlines

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United CEO vows to be aboard 737 Max when its cleared to fly

CHICAGO - CEO Oscar Munoz says he will be aboard United Airlines' first flight of a Boeing 737 Max once regulators agree to let the aircraft fly again.

Munoz made the promise after Chicago-based United's annual meeting with shareholders Wednesday.

Wednesday, May 22, 2019 | 06:43 PM

Postmedia invests in The Logic's subscription-based digital news service

TORONTO - Postmedia Network Inc. plans to buy a minority stake in The Logic Inc. a digital-only Canadian media outlet with a mandate to break tech-focused news through investigative journalism, the two companies announced Wednesday.

Andrew MacLeod, chief executive of Postmedia owner the National Post and other publications said that discussions began after he and Logic founder David Skok were introduced to each other a few months ago by a mutual acquaintance.

Wednesday, May 22, 2019 | 05:30 PM

TSX falls on declines among three of its most influential sectors, trade angst

TORONTO - Canada's main stock index fell Wednesday on declines in three of its most influential sectors and ongoing concerns about the trade dispute between the U.S. and China.

The S&P/TSX composite index closed down 99.12 points at 16,327.35 with the energy, metals and mining, and financial sectors among the weakest.

Wednesday, May 22, 2019 | 05:01 PM

Most actively traded companies on the TSX

Some of the most active companies traded Wednesday on the Toronto Stock Exchange:

Toronto Stock Exchange (16,327.35, down 99.12 points).

Wednesday, May 22, 2019 | 04:54 PM

Ontario government spending growth slowest in 30 years under Tories: Watchdog

TORONTO - Program spending under Ontario's Progressive Conservatives, which will drop to its lowest level in 30 years, could contribute to weaker economic growth at a time when fiscal clouds are gathering, the province's budget watchdog said Wednesday.

The Financial Accountability Office warned that factors like increasing interest rates, high household debt and trade uncertainty could negatively impact the government's plans as it works to eliminate a multibillion-dollar deficit.

Wednesday, May 22, 2019 | 04:39 PM

Encana CEO says Canadian oilfield would produce more if regulated in the U.S.

CALGARY - Western Canada's Montney oil and gas region would be two to four times more productive if it was in the United States with its more efficient regulatory systems, says the CEO of Encana Corp.

The enormous hydrocarbon-bearing formation that underlies the northern Alberta-B.C. border can compete with premier Texas shale oilfields, said Doug Suttles on Wednesday.

Wednesday, May 22, 2019 | 04:10 PM

Postmedia invests in The Logic's subscription-based digital news service

TORONTO - Postmedia Network Inc. plans to buy a minority stake in The Logic Inc. a digital-only Canadian media outlet with a mandate to break tech-focused news through investigative journalism.

Financial details of the arrangement weren't announced.

Wednesday, May 22, 2019 | 03:26 PM

Methane ignites at Cape Breton coal mine rock face, no injuries reported

DONKIN, N.S. - A Cape Breton colliery has been issued another stop work order after a methane fire occurred as coal miners worked on the rock face Tuesday afternoon.

Harold Carroll, the provincial Labour Department's executive director of occupational health and safety, confirms the ignition of the underground gas at the Donkin mine and says there were no injuries as a result of the flames.

Wednesday, May 22, 2019 | 03:04 PM

Nevada court orders former Vancouver man to pay back $21.7 million to investors

VANCOUVER - The British Columbia Securities Commission says it has won a court decision in Nevada that enforces a $21.7-million order against a man accused of defrauding his Canadian clients.

It says it is the first time a court in the United States has recognized an order from the B.C. commission.

Wednesday, May 22, 2019 | 03:01 PM

Mnuchin says he was unaware of IRS memo on tax returns

WASHINGTON - Treasury Secretary Steven Mnuchin said Wednesday he has no idea who wrote a confidential Internal Revenue Service legal memo that says that tax returns must be given to Congress unless the president asserts executive privilege.

Appearing before the House Financial Services Committee, Mnuchin said he was not aware of the existence of the memo until reporters from The Washington Post made inquiries about it.

Wednesday, May 22, 2019 | 12:43 PM