January 18th, 2018

Business

‘Very strong’ Democratic sentiment to oppose GOP budget bill

By Alan Fram And Andrew Taylor, The Associated Press on January 17th, 2018

WASHINGTON – Top Senate Democrat Chuck Schumer said Wednesday there’s “very, very strong” sentiment among Democrats in the chamber to oppose GOP-drafted legislation to keep the government’s doors open, comments that could indicate the chances are increasing that the government could shut down at midnight Friday night. Democrats’ votes are needed to advance the stopgap ... Read More »

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Loonie recovers following dovish interest rate hike, Dow soars past 26,000

By The Canadian Press on January 17th, 2018

TORONTO – The loonie rebounded from its earlier losses following the Bank of Canada’s dovish interest rate hike announcement today, as Wall Street soared to new highs. The Canadian dollar closed at an average trading value of 80.48 cents US, down 0.04 of a U.S. cent, recovering from greater losses earlier in the session after ... Read More »

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Kinder Morgan says Trans Mountain project could be a year behind schedule

By The Canadian Press on January 17th, 2018

CALGARY – Kinder Morgan Canada Ltd. (TSX:KML) is projecting that the Trans Mountain pipeline expansion project could be a year behind schedule as it continues to encounter permitting delays. The estimate is three months further behind from the company’s last estimate in December, and now potentially puts the $7.4-billion project in service by Dec. 2020 ... Read More »

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Group pushes lawsuit saying book infringes on artist’s work

By Keith Ridler, The Associated Press on January 17th, 2018

BOISE, Idaho – A group that preserves and promotes the work of a deaf, self-taught Idaho artist whose creations appear in museums around the world is fighting an attempt to dismiss its copyright infringement lawsuit against an Oregon children’s book author. The Boise, Idaho-based James Castle Collection and Archive said in documents filed Tuesday in ... Read More »

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Home Capital vows to defend itself against short seller’s $4M lawsuit

By The Canadian Press on January 17th, 2018

TORONTO – Home Capital Group (TSX:HCG) says it vows to defend itself against misrepresentation claims in a $4-million lawsuit filed by a short seller against the alternative lender and three of its former executives. The company issued a response after California-based short seller Marc Cohodes on Monday filed a statement of claim with the Ontario ... Read More »

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Nova Scotia kindles sudden explosion in craft distilleries

By Aly Thomson, The Canadian Press on January 17th, 2018

HALIFAX – Nova Scotia has kindled an explosion of spirit makers – there are now 16 in Canada’s second-smallest province – through attractive craft-distillery policies and collaborations with local farmers. The Nova Scotia Liquor Corporation says 12 of those distilleries have popped up in the last five years, serving rum, gin, vodka and other spirits. ... Read More »

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Manitoba premier mum in debate over men’s club where Tory MLA held fundraiser

By Steve Lambert, The Canadian Press on January 17th, 2018

WINNIPEG – Manitoba Premier Brian Pallister says he won’t weigh into a debate over a squash club that doesn’t allow women to become members and where one of his backbenchers held a fundraiser. “I do respect it’s a private organization. Private organizations have to make their own rules. They’ll have to decide, I suppose, on ... Read More »

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Competition Bureau reaches anti-competitive agreement with software developer

By The Canadian Press on January 17th, 2018

OTTAWA – The Competition Bureau says it has reached an agreement with a Canadian developer of travel industry software alleged to have created barriers that prevented its competitors from participating in the marketplace. The bureau says that Softvoyage Inc.’s well-established control of the market for content management software used by most tour operators allegedly saw ... Read More »

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Husky offshore oil vessel SeaRose suspended after close call with iceberg

By The Canadian Press on January 17th, 2018

ST. JOHN’S, N.L. – A federal-provincial regulator has ordered the suspension of oil-related operations on the SeaRose FPSO vessel off the Newfoundland and Labrador coast in relation to a close call with an iceberg it had last March. The Canada-Newfoundland and Labrador Offshore Petroleum Board says the vessel operated by Husky Oil Operations Ltd. will ... Read More »

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Canadian banks raise prime lending rate to 3.45% in wake of Bank of Canada move

By The Canadian Press on January 17th, 2018

TORONTO – Canada’s biggest banks will hike their prime rate by a quarter of a percentage point on Thursday, putting financial pressure on homeowners with variable rate mortgages. The Royal Bank of Canada (TSX:RY) was first to announce its prime rate will rise to 3.45 per cent, shortly after the Bank of Canada raised its ... Read More »

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