Business News Summary Headlines

Company releases, economic news, and business coverage.

In the spirit of Whitney: Houston Hologram tour set to begin

BURBANK, Calif. - Whitney Houston is about to appear on the concert stage again.

Eight years after her death, a holographic Houston will embark on a European tour that starts in England on Feb. 25 and runs through early April, with U.S. dates expected to follow.

Wednesday, February 19, 2020 | 10:18 AM

US wholesale prices up 0.5% in January, most since late 2018

WASHINGTON - U.S. producer prices climbed last month at fastest pace since October 2018 as higher prices for services more than offset a drop in the cost of energy.

The Labor Department said Wednesday that its producer price index, which measures inflationary pressures before they reach the consumer, jumped 0.5% in January after rising 0.2% in December. The monthly increase was much bigger than economists expected.

Wednesday, February 19, 2020 | 09:05 AM

Here's a list of January inflation rates for selected Canadian cities

OTTAWA - Canada's national annual inflation rate was 2.4 per cent in January, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):

St. John's, N.L.: per cent 2.1 (1.8)

Wednesday, February 19, 2020 | 08:56 AM

Here's a list January inflation rates for Canadian provinces, territories

OTTAWA - Canada's national annual inflation rate was 2.4 per cent in January, Statistics Canada says. Here's what happened in the provinces (previous month in brackets):

- Newfoundland and Labrador: 2.2 per cent (2.0)

Wednesday, February 19, 2020 | 08:54 AM

US home construction dips 3.6% in January

WASHINGTON - Construction of new homes edged back slightly in January after a December surge that had pushed home construction to the highest level in 13 years.

The Commerce Department reported Wednesday that builders started construction on 1.57 million homes at a seasonally adjusted annual rate, a decline of 3.6% from 1.63 million units in December. That had been the highest point since late 2006 at the peak of the housing boom of the last decade.

Wednesday, February 19, 2020 | 08:35 AM

PM urges patience, promises reconciliation in face of anti-pipeline blockades

OTTAWA - Prime Minister Justin Trudeau promised to redouble reconciliation efforts with Indigenous Peoples Tuesday as he sought to ease tensions over nationwide blockades erected in opposition to a British Columbia pipeline project.

Even as Trudeau called for patience, questions abounded over how he planned to make good on his promise. He faced demands from the Opposition Conservatives to crack down on protesters who have disrupted large parts of the country's transportation network.

Tuesday, February 18, 2020 | 08:31 PM

Cineworld's Cineplex takeover deal secures Ontario court approval

TORONTO - Cineplex Inc. says the takeover deal it signed with Cineworld PLC has received approval from the Ontario Superior Court.

The approval brings U.K.-based Cineworld one step closer to owning Cineplex and its 165 Canadian theatres and 1,695 film screens.

Tuesday, February 18, 2020 | 06:31 PM

CN Rail laying off about 450 workers after shutting down Eastern Canada network

MONTREAL - CN Rail is laying off about 450 workers in its operations in Eastern Canada after cancelling more than 400 trains in the past week over a rail blockade protesting an LNG pipeline in British Columbia.

The layoffs will affect operational staff, including employees working at Autoport in Eastern Passage, Moncton, Charny and Montreal.

Tuesday, February 18, 2020 | 06:10 PM

Freeland blasts Tories, but thanks NDP for support on pushing new NAFTA forward

OTTAWA - Deputy Prime Minister Chrystia Freeland has offered effusive thanks to New Democrats and stinging criticism of the Conservatives after the NDP supported the minority Liberal government's efforts to more speedily ratify the new North American trade agreement.

Freeland said the government wanted to limit study of the new deal, which replaces the quarter-century-old North American Free Trade Agreement, and get on with a vote to put it into effect.

Tuesday, February 18, 2020 | 06:02 PM

CRTC's MVNO proposal would weaken regional wireless networks, says Competition Bureau

GATINEAU, Que. - A proposal from Canada's telecom regulator runs the risk of making it harder for the country's regional carriers to compete with the three national carriers, possibly resulting in higher overall wireless prices for consumers, the Competition Bureau said Tuesday.

At the opening of nine days of public hearings into mobile virtual network operators, the bureau said Freedom Mobile, Videotron, Eastlink and other regional carriers may not grow big enough to keep a lid on pricing at Rogers, Bell and Telus if a new type of rival is given a CRTC mandate.

Tuesday, February 18, 2020 | 06:00 PM