Home > News & Features > Business News > Business News Summary Headlines

Business News Summary Headlines

Company releases, economic news, and business coverage.

TSX streak hits 10th straight day on hopeful sign about U.S.-China trade

TORONTO - The winning streak of Canada's main stock market continued for a 10th straight day Thursday as early energy losses dissipated and investors saw a hopeful sign ahead of trade talks resuming later this month between the U.S. and China.

The S&P/TSX composite index closed up 99.96 points to 15,211.22, its highest level in more than six weeks.

Thursday, January 17, 2019 | 04:58 PM

Global trade tensions fuel St. Lawrence seaway shipments as grain demand soars

MONTREAL - The St. Lawrence Seaway saw its highest cargo numbers since 2007 last year, propelled by a spike in grain shipments and global tariff wars that worked in Canada's favour.

Traffic hit 40.9 million tonnes in 2018, a seven per cent year-over-year increase, according to the St. Lawrence Seaway Management Corp.

Thursday, January 17, 2019 | 04:50 PM

Ryerson and MLSE announce sports-tech startups chosen for incubator

TORONTO - Maple Leaf Sports and Entertainment and Ryerson University are funding a handful of tech startups to foster sports industry innovation and if they're lucky, the early-stage ventures might get to pilot their products with top sports teams and venues.

The Toronto-based university and the owner of the Toronto Maple Leafs, Raptors, Argonauts and Toronto FC have chosen six ventures to provide with mentorship through their recently-launched Future of Sport Lab Incubator.

Thursday, January 17, 2019 | 04:32 PM

Competition commissioner urges B.C. to change liquor policy, lowering prices

OTTAWA - Canada's interim competition commissioner is urging B.C. to change its liquor policy to allow more competition, spark innovation and lower prices.

Matthew Boswell writes in an open letter to B.C.'s Attorney General David Eby that the province's current policy restricts competition, raises consumer prices and limits access to specialty products.

Thursday, January 17, 2019 | 04:04 PM

'We're suffering:' China-Canada tourism may slow amid political drama

VANCOUVER - Canadian tour operators specializing in travel to China say the growing diplomatic rift between the two countries is scaring their clients away, while those that bring Chinese tourists to Canada foresee a similar drop in interest that could put a billion-dollar industry at risk.

"We're suffering. We are suffering," said Julius Yan, who owns Laurus Travel, a Vancouver-based agency that has focused on tours to Asia for about two decades.

Thursday, January 17, 2019 | 03:59 PM

Les Moonves to challenge CBS severance denial

NEW YORK - Former CBS CEO Les Moonves is fighting the company's decision to deny his $120 million severance package following his firing over sexual misconduct allegations.

CBS announced the development in a filing Wednesday with the Security Exchange Commission. CBS said Moonves has demanded binding arbitration proceedings to challenge the decision.

Thursday, January 17, 2019 | 01:42 PM

Brexit talks by UK's May called a 'stunt' by opposition

LONDON - A weakened but defiant Prime Minister Theresa May met lawmakers from Britain's rival Brexit factions Thursday to try to forge a replacement for her rejected European Union exit plan.

But the country's main opposition leader branded the talks a "stunt," and May gave little sign she would make major changes to the divorce deal tossed out by Parliament this week. A new Brexit showdown between Parliament and government looked to be looming in the House of Commons before the end of the month.

Thursday, January 17, 2019 | 01:03 PM

Husky shares rise and MEG stock plunges after oilsands takeover offer withdrawn

CALGARY - Shares in MEG Energy Corp. plunged Thursday after Husky Energy Inc. abandoned its hostile takeover bid for the company.

Husky, the much larger of the two oilsands-producing Calgary firms, surprised observers when it announced it would not extend the offer that expired Wednesday without receiving the needed two-thirds support.

Thursday, January 17, 2019 | 12:58 PM

Google to invest in solar farms in Tennessee, Alabama

NASHVILLE - Google plans to invest in Tennessee and Alabama solar farms under a deal with the Tennessee Valley Authority.

Google announced Wednesday that it will buy 413 megawatts of output from 1.6 million solar panels at several new Tennessee and Alabama solar farms the combined size of 65,000 home rooftop systems.

Thursday, January 17, 2019 | 12:38 PM

Natural gas producer Peyto Exploration shares fall on dividend and spending cuts

CALGARY - Shares in Peyto Exploration and Development Corp. fell by as much as 15 per cent after it said it would cut its dividend and capital spending due to low natural gas prices in Western Canada.

In early trading on the Toronto Stock Exchange on Thursday, the Calgary-based company's shares fell to a low of $6.91 from their Wednesday close of $7.93.

Thursday, January 17, 2019 | 11:50 AM