February 27th, 2017

Business

NDP calls for Q3 budget update to be released in Saskatchewan amid deficit talk

By The Canadian Press on February 27th, 2017

SASKATOON – The Opposition NDP is calling for a budget update, saying the Saskatchewan Party government is hiding the truth about the province’s finances. The third quarter ended in December and New Democrat finance critic Cathy Sproule says the government should have revealed the numbers by now. The NDP says third-quarter updates have been released ... Read More »

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Markets Right Now: US indexes waver in midday trading

By The Associated Press on February 27th, 2017

NEW YORK – The latest on developments in financial markets (All times local): 11:45 a.m. The major U.S. stock indexes wavered between small gains and losses in midday trading. Energy stocks led the gainers Monday as the price of crude rose. National Oilwell Varco rose 3.3 per cent. Phone companies lagged the most. Verizon lost ... Read More »

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S&P/TSX composite index in the red following big losses on Friday

By The Canadian Press on February 27th, 2017

TORONTO – Canada’s main stock index was down again today after enduring its biggest loss in five months on Friday. After 90 minutes of trading this morning, the Toronto Stock Exchange’s S&P/TSX composite index fell 40.43 points at 15,493.04. At the same time, the main U.S. indexes also declined slightly. In New York, the Dow ... Read More »

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Fort McMurray, Alta., homeowners to be compensated for hiked drywall duties

By Terry Pedwell, The Canadian Press on February 27th, 2017

OTTAWA – Canada will slash anti-dumping duties on U.S. drywall imports after a trade panel ruled that maintaining levies imposed last fall would harm consumers and businesses, federal Finance Minister Bill Morneau announced Monday. At the same time, the roughly $12 million collected since the duties were imposed in September will go toward a compensation ... Read More »

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Fewer Americans signed contracts to buy homes in January

By Christopher S. Rugaber, The Associated Press on February 27th, 2017

WASHINGTON – Fewer Americans signed contracts to buy homes last month as rising prices and a dwindling supply of available homes appeared to frustrate many potential buyers, especially in the West. The National Association of Realtors says that its seasonally adjusted pending home sales index fell 2.8 per cent to 106.4, the lowest level in ... Read More »

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Valeant Pharmaceuticals adds 250 sales staff for Salix drug business

By The Canadian Press on February 27th, 2017

LAVAL, Que. – Valeant Pharmaceuticals (TSX:VRX) said Monday it has grown the sales force at its Salix drug business by about 250 people over the past three months. The company, based in Laval, Que., said the 40 per cent increase to its existing sales staff will help grow market share and build relationships with doctors ... Read More »

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Pipeline giant TransCanada plans to sell more U.S. holdings to TC Pipelines

By The Canadian Press on February 27th, 2017

CALGARY – TransCanada Corp. (TSX:TRP) is negotiating the sale of a 49.3 per cent interest in the Iroquois natural gas transmission system that connects its main Canadian pipeline system to markets in the U.S. Northeast, including New York City. The Calgary-based company says it has offered to sell the Iroquois system to TC PipeLines, LP ... Read More »

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UPDATE1: Japan lower house OKs record 97.45 tril. yen budget for FY 2017

By The Associated Press on February 27th, 2017

Japan’s House of Representatives approved Monday a record 97.45 trillion yen ($870 billion) draft budget for fiscal 2017 to finance ballooning social security costs and enhance its defence capabilities. The initial budget for the year starting in April also features expenditure to invest in growth areas as the economy has been struggling to break out ... Read More »

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AP sources: White House to propose boosting defence spending

By Andrew Taylor And Julie Pace, The Associated Press on February 27th, 2017

WASHINGTON – The White House will propose boosting defence spending and slashing funding for longtime Republican targets like the Environmental Protection Agency in a set of marching orders to agencies as it prepares its budget for the upcoming fiscal year. President Donald Trump’s proposal for the 2018 budget year, which will be sent to agencies ... Read More »

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Fort McMurray homeowners to be compensated for hiked drywall duties

By The Canadian Press on February 27th, 2017

OTTAWA – Families forced to rebuild their homes after wildfires devastated Fort McMurray, Alta. last spring will be compensated for having to pay duties on drywall coming into Canada from the United States Federal Finance Minister Bill Morneau was expected to make the announcement Monday. A source familiar with the plan told The Canadian Press ... Read More »

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