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  • Loonie, auto parts stocks up after revamped trade deal with U.S

    October 1, 2018 3:01 PM 7

    The Canadian dollar and shares of the country’s major auto parts companies were up in the wake of the tentative trade deal between Canada, the U.S. and Mexico. The loonie was trading at 78.04 cents (U.S.) shortly after North American stock markets opened, up from an average of 77.25 cents (U.S.) on Friday. Shares of Canada’s largest auto parts company

  • Calgary-based Husky Energy makes $6.4 billion bid for MEG Energy

    October 1, 2018 12:19 AM 7

    Husky Energy Inc. is making a hostile bid to acquire MEG Energy Corp. in a transaction valued at $6.4 billion. In a statement issued Sunday afternoon, Husky says the proposed merger “will create a stronger Canadian energy company.” The new, Calgary-based operation would have the capacity to produce more than 400-thousand barrels of oil equivalent per day. The proposal

  • Toronto stocks lower, loonie climbs higher after GDP report tops expectations

    September 28, 2018 6:23 PM 17

    In New York, the Dow Jones industrial average was up 44.57 points at 26,484.50. The S&P 500 index was up 5.01 points at 2,919.01, while the Nasdaq composite was up 13.10 points at 8,055.06. The Canadian dollar traded higher at 77.39 (U.S.) compared with an average of 76.66 cents (U.S.) on Thursday after the Canadian economy grew faster than expected

  • Samsung chairman Lee Sang-hoon indicted for allegedly sabotaging labour union

    September 27, 2018 6:56 PM 10

    “This is meaningful in that Samsung’s long-disputed policy of not tolerating labour unions has mostly turned out to be true,” prosecution official Kim Soo-hyun said at a televised briefing, adding that 27 other people from Samsung and its partnering firms have also been indicted on similar charges. Samsung declined to comment. The indictment adds to legal

  • Toronto Re/Max brokerage joins U.S.-based listings site Zillow

    September 27, 2018 12:00 PM 9

    Zillow, which says it has commitments from four Canadian companies representing more than 30,000 listings, hasn’t revealed when it will launch its Canadian real-estate listings but it will be by the end of the year, said Errol Samuelson, the company’s Vancouver-based chief industry development officer. Zillow.com uses property listings to sell ads to real-estate

  • CBS plans production hub in Canada to satisfy demands of peak TV

    September 26, 2018 4:47 PM 12

    U.S. entertainment company CBS Television Studios will open a television and film production hub just outside Toronto next year. The company says the hub will include six sound stages, production offices and other support facilities. CBS says the 260,000 square-foot facility will be located in Mississauga and is due to open in mid-2019. The company is promising

  • National safety board expected to determine cause of Air Canada close call

    September 25, 2018 1:31 PM 13

    Video captured the moment that an Air Canada jet flew off course and just over four other jetliners filled with passengers late on a July night last year in San Francisco. On Tuesday, the National Transportation Safety Board will meet to determine the probable cause of the close call. Board members are likely to focus on actions of the Air Canada pilots

  • Canada’s Barrick in $18B merger to create world’s largest gold miner

    September 24, 2018 1:19 PM 14

    Toronto-based Barrick Gold Corp. has agreed to buy Randgold Resources for $7.9 billion in stock to create the world’s largest gold miner. Investors will receive 6.128 new Barrick shares for each Randgold share they hold. Shareholders in Barrick will own about 66.6 per cent of the merged company, which will combine Randgold’s African mines with Barrick’s

  • Under Armour restructuring costs rise as it trims workforce

    September 21, 2018 4:47 PM 15

    The Baltimore-based company now expects its pretax restructuring charges for the year to be between about $200 million and $220 million, with the workforce reductions resulting in about $10 million in severance costs. The company had expected restructuring charges for the year to be between $190 million and $210 million. The restructuring has also included

  • Airline fight push to regulate ticket-change fees

    September 21, 2018 4:29 PM 11

    “I have sympathy for someone who is making a change well in advance,” Peter Ingram, chief executive of the airline’s parent Hawaiian Holdings Inc., said in an interview. “It’s worthwhile for us to consider whether we should change something on that.” John Heimlich, the airline trade group’s chief economist, said 3% of all passengers pay change fees, and that those