October 23rd, 2017

Business

Toronto stock market advances, while loonie falls two-thirds of a cent

By The Canadian Press on October 20th, 2017

TORONTO – Major North American indices made gains today, with those in New York setting record highs, as investors felt confident about the economy and politics. The S&P/TSX composite index gained 39.22 points to 15,857.22. In New York, all three indices reached new highs. The Dow Jones industrial average rose 165.59 points to 23,328.63. The ... Read More »

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Norman Rockwell’s 3 sons seek to halt sale of his artworks

By Mark Pratt, The Associated Press on October 20th, 2017

BOSTON – Norman Rockwell’s three sons were among several people who went to court on Friday seeking to halt a museum’s plans to sell 40 works of art, including two by him. A complaint seeking a temporary restraining order filed in Berkshire Superior Court alleges the board of trustees at the Berkshire Museum in Pittsfield ... Read More »

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Airbus, Bombardier plan for long C Series partnership despite take-out clause

By Ross Marowits, The Canadian Press on October 20th, 2017

MONTREAL – Airbus and Bombardier plan to remain strategic partners on the C Series program even after the European aerospace giant is able to buy out its minority partners, the chief executives of both companies said Friday. According to terms of the deal announced Monday, Airbus has the option to buy out Bombardier (TSX:BBD.B) in ... Read More »

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Contractor killed at Suncor Energy mining site north of Fort McMurray

By The Canadian Press on October 20th, 2017

FORT MCMURRAY, Alta. – An Alberta labour spokesman says a contract worker has died at Suncor Energy’s Millennium mine north of Fort McMurray. Trent Bancarz says a man in his 30s was digging a trench this morning when he was buried. His name has not been released The man was employed by Aecon mining. Bancarz ... Read More »

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Budget deficit hits $666B, up $80B as tax debate kicks off

By Andrew Taylor, The Associated Press on October 20th, 2017

WASHINGTON – The Trump administration says the federal budget deficit rose to $666 billion in the just-completed budget year, an $80 billion spike over last year. The word comes as Republicans controlling Washington are moving quickly to draft a rewrite of the tax code that could add up to $1.5 trillion to the national debt ... Read More »

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Morneau faces more questions despite promise to sell shares, use blind trust

By The Canadian Press on October 20th, 2017

OTTAWA – One day after he promised to sell off at least $21 million worth of family assets, Finance Minister Bill Morneau is facing still more questions over how he handled his personal fortune when he entered government in 2015. In hope of quieting conflict of interest accusations, the former businessman said he would sell ... Read More »

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Plan underway to supply Churchill with ice road as rail remains knocked out

By The Canadian Press on October 20th, 2017

WINNIPEG – Plans are underway to supply Churchill, Man., through an ice road as the rail link that normally provides a lifeline to the community remains out of commission. Mark Kohaykewych, president of Polar Industries, says that the company has partnered with the Fox Lake Cree Nation and Churchill-based Remote Area Services to carve out ... Read More »

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‘I’m just so furious’: Mother and son both fall victim to Equifax Canada hack

By Armina Ligaya, The Canadian Press on October 20th, 2017

TORONTO – Robin Harvey thought she was being financially prudent when she urged her son to sign up to monitor their credit files at Equifax Canada in 2013. Her son was graduating from university at the time, and the former journalist pushed him to keep a close eye monitor his records while reactivating her account ... Read More »

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Institutional investors key to driving increase in women on boards: report

By The Canadian Press on October 20th, 2017

TORONTO – The support of institutional investors is key to driving any meaningful increase in female representation on corporate boards and in the executive suites, a new analysis suggests. The review authored by lawyers at Bay St. law firm Torys LLP says increased scrutiny on board composition has become a growing area of focus for ... Read More »

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Airbus has no plans to buy out CSeries partners, expects tough Boeing fight

By Ross Marowits, The Canadian Press on October 20th, 2017

MONTREAL – Airbus has no plans to buy out minority CSeries partners Bombardier and the Quebec government, Airbus chief executive Tom Enders said Friday. According to terms of the deal announced Monday, Airbus had the option to buy out Bombardier (TSX:BBD.B) in about seven years, and the Quebec government in 2023. Following a joint appearance ... Read More »

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