Company releases, economic news, and business coverage.
MONTREAL - Finance Minister Bill Morneau says the ongoing U.S.-China trade dispute is distracting from talks aimed at solving the steel tariffs issue between Canada and its largest trading partner.
At an event in Montreal Friday, Morneau said the Americans' Pacific trade row puts "multiple challenges on their plate."
VIENNA - Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply.
Following two days of meetings, the Organization of the Petroleum Exporting Countries that includes the likes of Saudi Arabia and Iraq said they would cut 800,000 barrels per day for six months from January, though some countries such as Iran, which is facing wide-ranging sanctions from the United States, have been given an exemption.
OTTAWA - A blast of new jobs last month knocked the country's unemployment rate down to its lowest level since Statistics Canada started measuring comparable data more than 40 years ago —but despite eye-catching progress, Friday's numbers also delivered disappointment.
Canada added 94,100 net jobs for its largest monthly increase since March 2012 when there was a gain of 94,000 jobs, Statistics Canada said in its the labour force survey. The November surge was fuelled by other positives: 89,900 new full-time positions and 78,600 employee jobs in the private sector.
MONTREAL - Supremex Inc. is cutting 41 employees at its Canadian envelope manufacturing operations in a cost-saving measure as it diversifies its business to include more packaging products.
The company, headquartered in the Montreal community of LaSalle, says the cuts affect eight per cent of its Canadian envelope workforce.
NEW YORK - Two women who cleaned rooms set aside for President Donald Trump at one of his golf resorts in New Jersey say they used false papers to get hired, their supervisors knew it and that many employees there also lack legal documents.
Anibal Romero, a lawyer representing Victorina Morales and Sandra Diaz, said on Thursday that the two used false Social Security and permanent residency documents to get jobs at Trump's golf resort Bedminster, New Jersey. He also said that a supervisor hurled racial epithets at the women and threatened them with deportation to get more work out of them.
OTTAWA - The national unemployment rate was 5.6 per cent in November. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets):
— St. John's, N.L. 8.1 per cent (9.0)
OTTAWA - Canada's national unemployment rate was 5.6 per cent in November. Here are the jobless rates last month by province (numbers from the previous month in brackets):
— Newfoundland and Labrador 12.2 per cent (12.7)
OTTAWA - A quick look at October employment (numbers from the previous month in brackets):
Unemployment rate: 5.6 per cent (5.8)
TOKYO - Shares rebounded in Europe and Asia on Friday as worries over U.S.-China trade friction were calmed by conciliatory comments from Beijing.
KEEPING SCORE: Germany's DAX climbed 0.7 per cent to 10,884.39 and the CAC 40 in France advanced 1.3 per cent to 4,840.54. Britain's FTSE 100 jumped 1.6 per cent to 6,809.58. The Dow future contract fell 0.5 per cent to 24,783.00 and the contract for the S&P 500 lost 0.6 per cent to 2,676.00, auguring a glum start to trading.
TOKYO - Asian shares were mostly higher Friday after gains on Wall Street but investors continued to watch for news about U.S.-China trade friction.
KEEPING SCORE: Japan's benchmark Nikkei 225 added 0.1 per cent to 21,524.02, and Australia's S&P/ASX 200 gained 0.5 per cent to 5,685.50 in early trading. South Korea's Kospi rose 0.1 per cent to 2,070.83. Hong Kong's Hang Seng inched up less than 0.1 per cent to 26,164.46, while the Shanghai Composite was also up less than 0.1 per cent at 2,606.52. Shares were also higher in Indonesia and Taiwan.