Business News Summary Headlines

Company releases, economic news, and business coverage.

Kendall Jenner headlines London Fashion Week's Burberry show

LONDON - Kendall Jenner and fellow super models unveiled Burberry's new season designs at London Fashion Week on Monday, a collection that spanned everything from classic and ladylike to sexy, preppy and street-smart.

That approach showcasing designs tailored to diverse tastes may now be particularly important to the luxury heritage fashion brand, which has recently reported a significant dent in its business in China, a key market, due to the virus outbreak.

Monday, February 17, 2020 | 03:55 PM

Pier 1 files for bankruptcy protection, closing all Canadian stores

TORONTO - Home goods retailer Pier 1 Imports Inc. says it has filed for bankruptcy protection in the United States and plans to close all Canadian stores as part of its restructuring process.

The Texas-based company has been struggling with increased competition from budget-friendly online retailers such as Wayfair.

Monday, February 17, 2020 | 02:34 PM

Cirque du Soleil founder Guy Laliberte sells remaining stake to Caisse

MONTREAL - Cirque du Soleil founder Guy Laliberte is selling the last of his shares in the entertainment behemoth nearly 36 years after launching the Quebec-based circus troupe.

The Caisse de depot et placement du Quebec says it buying Laliberte's remaining 10 per cent stake in Cirque du Soleil Entertainment Group, nearly doubling the Quebec pension giant's share to about 20 per cent.

Monday, February 17, 2020 | 02:18 PM

Ontario legislature returns from break as teachers escalate job action

TORONTO - The Ontario legislature resumes Tuesday after a winter break that's been consumed by an escalating conflict with the province's public school teachers.

Contract talks between the Progressive Conservative government and the four major teachers' unions have largely stalled, and a co-ordinated provincewide strike set for Friday will see about two million students out of class.

Monday, February 17, 2020 | 12:07 PM

Zuckerberg meets EU officials as bloc's new tech rules loom

LONDON - Facebook CEO Mark Zuckerberg met top European Union officials on a visit to Brussels on Monday, days before the bloc is expected to release new proposals on regulating artificial intelligence.

The billionaire social network founder is the latest U.S. tech executive to make the trip to the headquarters of the EU, which is becoming an increasingly important player in technology regulation. Zuckerberg's visit came as the company warned that potential regulation risked stifling innovation.

Monday, February 17, 2020 | 12:00 PM

After mill closure, anxiety mounts in N.S. rural communities dependent on forestry

ADVOCATE HARBOUR, N.S. - In a garage filled with a massive and idle road grader, Scott MacGillivary's anxiety grows as he wonders what's to become of his family following the closure of a Nova Scotia pulp mill that paid his bills.

The mothballing of the Northern Pulp factory located 200 kilometres east of his Advocate Harbour, N.S., business has already meant the layoff of his sole employee and the parking of an almost new Volvo construction machine used to clear and plow forestry roads.

Monday, February 17, 2020 | 07:00 AM

Telus and affiliates tell customers they've already met Liberal rate-cut pledge

OTTAWA - One of Canada's major mobile service providers appears to have set the stage for a battle with Ottawa over the timing of proposed wireless rate cuts.

Telus and affiliated brands Koodo and Public Mobile recently placed what they are calling a "True North Affordability" stamp on their websites a move one consumer advocate says is an attempt to reset the starting point for a Liberal campaign pledge to reduce wireless rates.

Monday, February 17, 2020 | 04:10 AM

B.C. budget expected to stay the course as economic growth moderates

VICTORIA - British Columbia's finance minister is promising to stay the course in her next budget to be tabled Tuesday in the legislature, while also monitoring potential storm clouds looming over the economy.

Since coming to power more than two years ago, the NDP has made controlling costs for families, with a focus on housing in particular, a hallmark of its economic policies.

Monday, February 17, 2020 | 04:00 AM

Trudeau confers with cabinet ministers as rail blockades continue

OTTAWA - Prime Minister Justin Trudeau was in talks over the weekend with federal cabinet ministers as protesters opposed to a pipeline project in British Columbia continued to halt train service across parts of the country.

Trudeau's spokeswoman Chantal Gagnon said Sunday the prime minister had already spoken to Deputy Prime Minister Chrystia Freeland, Transport Minister Marc Garneau, Public Safety Minister Bill Blair and Carolyn Bennett, the minister for Crown-Indigenous Relations.

Sunday, February 16, 2020 | 08:42 PM

Trudeau cancels Caribbean trip amid pressure to end pipeline protests

OTTAWA - Prime Minister Justin Trudeau has cancelled his planned trip to the Caribbean this week amid criticism over his government's handling of a series of anti-pipeline protests that have disrupted rail service in parts of Canada.

The Prime Minister's Office announced the cancellation Sunday evening, the night before Trudeau was scheduled to fly to Barbados where he was expected to pitch Caribbean leaders on why Canada should get a seat on the United Nations Security Council.

Sunday, February 16, 2020 | 06:51 PM