Company releases, economic news, and business coverage.
TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,309.23, up 95.92 points).
TORONTO - A growing number of telecom companies are pushing back against the CRTC's decision to lower the rates they can charge smaller internet providers to use their networks.
Shaw Communications Inc. warned Wednesday of long-term negative consequences from the decision to dramatically reduce the federally regulated wholesale broadband prices.
FREDERICTON - An Irving-owned company is off the hook on repaying the balance owed on two multimillion-dollar federal loans it received to open a drywall plant in Saint John, N.B.
The two conditionally repayable loans, totalling $7.4 million, were issued in 2011 and 2012 under an Atlantic Canada Opportunities Agency program aimed at offsetting the impact of the closing of the Irving-owned Saint John shipyard.
WASHINGTON - Federal Reserve officials were widely divided at their meeting last month when they decided to cut rates for the first time in a decade, with some arguing for a bigger rate cut while others insisted the Fed should not cut rates at all.
The minutes of the July 30-31 discussions released Wednesday show two officials believed the Fed should cut its benchmark policy rate by a half-percentage point, double the quarter-point reduction the central bank eventually agreed upon. On the other end, some Fed officials argued for no rate cut at all, believing that the economy was beginning to improve after a soft patch in the spring.
TORONTO - Ontario Teachers' Pension Plan says it earned a 6.3 per cent return on its investments in the first six months of the year, raising its net assets to $201.4 billion.
The gain increased the pension fund's net assets by $10.3 billion as of June 30 after delivering contributions across every asset class in its portfolio, led by fixed income which accounts for 47 per cent of its assets.
TORONTO - Royal Bank of Canada increased its dividend as its third-quarter profit rose by five per cent to hit a record, but the lender's latest earnings missed estimates as challenging market conditions weighed on its capital markets division.
Earnings from its investor and treasury services arm also fell, but strength in personal and commercial banking, wealth management and insurance compensated for these weaknesses to reach a new quarterly high.
TEHRAN, Iran - Iran's president sent a bill to parliament Wednesday that would cut four zeroes from the value of the Islamic Republic's sanctions-battered currency, the rial, as tensions remain high between Tehran and Washington.
By sending the bill to lawmakers, President Hassan Rouhani's government shows it is serious about an idea mulled for some time in Iran, where people discuss monetary transactions in both rials and —informally but more commonly — in tomans. A toman is worth 10 rials.
OTTAWA - Canadian annual inflation hit the Bank of Canada's ideal target for a second straight month, providing a stretch of price stability that's unlikely to weigh heavily on next month's interest-rate decision.
The inflation number came in at two per cent last month, Statistics Canada said Wednesday, which kept it right at the mid-point of the central bank's range of one to three per cent.
WASHINGTON - U.S. home sales increased 2.5% in July, a sign that lower mortgage rates have produced a spurt of home-buying.
The National Association of Realtors said Wednesday homes sold last month at a seasonally adjusted annualized rate of 5.42 million units, up from 5.29 million in June.
BEIJING - China says a staffer at the British consulate in Hong Kong has been given 15 days of administrative detention in the Chinese city of Shenzhen.
At a daily briefing Wednesday, foreign ministry spokesman Geng Shuang offered no details about why he was being detained.