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

Business News Summary Headlines

Company releases, economic news, and business coverage.

Mastermind Toys ramps up expansion even as Toys "R" Us flounders

TORONTO - Jon Levy's favourite playthings as a Toronto child growing up in the 1960s and 1970s included Lego blocks and fort-building kits classics that still fly off the shelves of his Mastermind Toy stores today.

"My true innovation in this business is being able to get inside my inner kid and determine whether it is something truly fun to play with," said Levy, the chain's co-founder, CEO and chief toy merchant.

Friday, September 22, 2017 | 04:00 AM

GOP health bill offers provisions aimed at helping 2 states

WASHINGTON - Provisions shoehorned into the Republican health care bill dangle extra money for Alaska and Wisconsin, home states of one GOP senator whose vote party leaders desperately need and another who co-sponsored the legislation, according to analysts who've studied the legislation.

The 140-page measure, which top Republicans hope to push through the Senate next week, is stuffed with language making some states winners and others losers. Aides say the legislation is still changing as leaders hunt the 50 GOP "yes" votes they'll need to turn this summer's jarring Senate rejection of the party's crusade to erase President Barack Obama's law into an eleventh-hour triumph.

Thursday, September 21, 2017 | 09:02 PM

Financials and energy sectors boost TSX, Wall St. down on rate hike expectations

Toronto's main stock index continued to push higher Thursday as Wall Street veered lower on heightened interest rate expectations from the U.S. Federal Reserve.

The S&P/TSX composite index climbed 65.32 points to 15,454.92, with rising energy and financials shares among the key gainers.

Thursday, September 21, 2017 | 08:26 PM

SEC under fire for being hacked despite warnings on security

WASHINGTON - The Securities and Exchange Commission waited until Wednesday to disclose a hack of its corporate filing system that occurred last year. The disclosure raises questions about the agency's ability to protect important financial information and comes as Americans are still weighing the consequences of the massive hack at Equifax.

The SEC, the federal agency responsible for protecting investors and ensuring markets function properly, is under fire after disclosing the hack of its electronic network that whisks company news and data to investors. The breach occurred despite repeated warnings in recent years about weaknesses in the agency's cybersecurity controls.

Thursday, September 21, 2017 | 08:02 PM

May to urge new partnership, transition period for Brexit

LONDON - Prime Minister Theresa May will try to kick-start faltering Brexit negotiations on Friday by proposing a new economic and security partnership between Britain and the European Union, plus a transition period after the U.K.'s formal departure in 2019, May's office said.

Downing Street released extracts from a speech the prime minister is set to deliver in Florence, Italy as EU officials were suggesting the British government likely is hoping in vain to get the talks to a new phase next month.

Thursday, September 21, 2017 | 07:48 PM

Tech companies targeted by sophisticated malware attack

Security researchers say hackers compromised popular computer-cleaning software as part of a sophisticated attack that targeted several high-profile technology companies.

The company that sells CCleaner software, Prague-based Avast Software, says the attack affected more than 2 million computers in late August and early September.

Thursday, September 21, 2017 | 07:47 PM

Facebook to release Russia ads, beef up election 'integrity'

NEW YORK - Facebook is slowly acknowledging the outsized if unintended role it played in the 2016 U.S. presidential elections.

Bowing to pressure from lawmakers and the public, the company said it will provide the contents of 3,000 ads bought by a Russian agency to congressional investigators, while also pledging to make political advertising on its platform more "transparent."

Thursday, September 21, 2017 | 07:44 PM

California hits Gatorade in court for "anti-water" videogame

SACRAMENTO, Calif. - Gatorade has agreed not to make disparaging comments about water as part of a $300,000 settlement reached Thursday with California over allegations it misleadingly portrayed water's benefits in a cellphone game where users refuel Olympic runner Usain Bolt.

The game, downloaded 30,000 times in California and 2.3 million times worldwide, is no longer available.

Thursday, September 21, 2017 | 07:43 PM

Tax changes, anti-rich rhetoric have already inspired big fish to leave: Manley

OTTAWA - A big Canadian player has quietly picked up his chips and is heading for the exit amid the tumult over the Trudeau government's controversial tax proposals.

A business owner has informed John Manley, the head of an organization representing Canada's largest corporations, that he has moved billions of dollars outside the country since the Liberals formally proposed their tax changes in mid-July.

Thursday, September 21, 2017 | 06:43 PM

WestJet Airlines signs code-share agreement with Hong Kong Airlines

CALGARY - WestJet Airlines Ltd. (TSX:WJA) says it has signed a code-share agreement with Hong Kong Airlines that will allow the Asian carrier to sell tickets on WestJet flights using its own designator codes.

The agreement builds on an existing interline agreement put in place earlier this year.

Thursday, September 21, 2017 | 05:53 PM