Business News Summary Headlines

Company releases, economic news, and business coverage.

Netflix faces growth pressure in Canada as it picks up 125,000 new subscribers

TORONTO - Netflix recruited more Canadian subscribers in the final months of last year as it responded to an onslaught of new competition from Apple TV Plus and Disney Plus with an array of buzzworthy TV series and Oscar-calibre movies.

The global streaming company attracted 125,000 paid sign-ups in Canada during the fourth quarter that ended Dec. 31, 2019, helped by popular TV series "The Witcher" and acclaimed films "Marriage Story" and "The Irishman."

Tuesday, January 21, 2020 | 07:04 PM

United Airlines boosts profit on more revenue, cheaper fuel

United Airlines reported Tuesday that higher revenue and cheaper fuel helped boost its fourth-quarter profit by nearly 40%, to $641 million.

The airline's forecast of first-quarter earnings easily beat Wall Street expectations.

Tuesday, January 21, 2020 | 06:33 PM

Spin Master shares fall as it cuts sales guidance on logistics, soft market

TORONTO - Shares of Spin Master Corp. fell Tuesday after it said sales were going to be worse than expected because of problems with its distribution system, a softer U.S. market, and fallout from trade disputes.

The Toronto-based toy giant says results for its fourth quarter and 2019 as a whole would likely show a one per cent drop in gross product sales, compared with its guidance in November of growth in the low single digits.

Tuesday, January 21, 2020 | 06:19 PM

WestJet removes grounded Max from schedule until June 24 on advice from Boeing

CALGARY - WestJet Airlines Ltd. says is removing Boeing's grounded 737 Max jet from flight schedules through June 24 following the manufacturer's latest guidance about regulatory approval for the plane to fly again.

The Calgary-based airline says the change marks the ninth delay of the plane's return to service after regulatory authorities across the globe banned the Max from the skies last March following two fatal crashes in five months.

Tuesday, January 21, 2020 | 06:15 PM

Tesla can sell vehicles in Michigan under legal settlement

DETROIT - Tesla will be able to sell and service its vehicles in the backyard of Detroitís three automakers under a lawsuit settlement, a person briefed on the matter says.

The deal between the state of Michigan and Tesla is likely to be announced Wednesday, said the person, who asked not to be identified because terms of the deal have not been made public.

Tuesday, January 21, 2020 | 06:09 PM

Indigenous LNG supporters chide human rights advocates over pipeline comments

BURNS LAKE, B.C. - A collective of First Nations who support the liquefied natural gas industry in British Columbia say human rights advocates failed to do their research when they called for a pipeline project to be halted.

The First Nations LNG Alliance has issued open letters to the B.C. human rights commissioner and the United Nations Committee to End Racial Discrimination over statements they made about the Coastal GasLink project.

Tuesday, January 21, 2020 | 05:50 PM

North American airline stocks swoon on fear about virus outbreak in China

TORONTO - Shares of five North American airlines that fly to China, including Air Canada, fell on Tuesday as fear grew about a virus that authorities say has killed six people and sickened 300 more.

Investors seemed to worry that the virus could spread beyond Asia, like the SARS outbreak that started in 2002, which hurt travel between the U.S. and Asia.

Tuesday, January 21, 2020 | 04:59 PM

TSX falls for first time in seven sessions on concerns about virus outbreak

TORONTO - Canada's main stock index fell for the first time in seven sessions Tuesday on concerns about a virus outbreak in China.

The market experienced a broad-based selloff on worries that the newly identified coronavirus would spread and be as devastating as SARS was in 2002 and 2003.

Tuesday, January 21, 2020 | 04:51 PM

Canada to start ratifying new NAFTA next week following U.S. approval: Trudeau

OTTAWA - Canada will move swiftly next week to formally approve North America's new, long-delayed free trade pact, Prime Minister Justin Trudeau said Tuesday.

The government will introduce a motion to apply some of its elements Jan. 27 when Parliament resumes, and will table legislation to ratify the deal two days later, he said.

Tuesday, January 21, 2020 | 04:33 PM

Crave bulks up on French programming with extensive selection of TV and films

TORONTO - Bell Media's Crave platform is expanding into the French-language Canadian market with a sprawling lineup of films and TV shows.

The country's largest homegrown streaming TV platform says it will officially become a bilingual service on Jan. 28, timed for the debut of Crave Original series "Pour Toujours Plus Un Jour."

Tuesday, January 21, 2020 | 03:58 PM