February 25th, 2018

Business

Official: US says ex-Venezuela oil czar took bribes

By Joshua Goodman, The Associated Press on February 13th, 2018

BOGOTA – U.S. prosecutors say Venezuela’s former oil czar received bribes as part of a major graft scheme that allegedly took place in the OPEC nation’s oil industry, an American official familiar with the probe said. Rafael Ramirez, who was one of Venezuela’s most powerful officials until he quit as the country’s U.N. ambassador in ... Read More »

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Preserved roses bring Valentine’s Day sales jolt to Ecuador

By Gonzalo Solano, The Associated Press on February 13th, 2018

TABACUNDO, Ecuador – In a warehouse north of Ecuador’s capital, a small, busy army of dexterous workers puts the final touches on a shipment of made-to-order roses with tones as diverse as the colours of a rainbow suffused in fragrance capable of seducing even the most demanding nose. Each petal is custom made for foreign ... Read More »

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New U.S. trade shot: Duties weighed on pipe product from Canada and elsewhere

By The Canadian Press on February 13th, 2018

WASHINGTON – It’s the latest incoming trade salvo from the United States: the U.S. is considering punitive duties on pipeline material from a half-dozen countries including Canada. The duties being sought for large-diameter welded pipe from Canada are more than 50 per cent. Canada supplies about US$66 million of pipe annually to the U.S. for ... Read More »

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Energy sector drags Toronto stock market lower, U.S. stocks lower

By The Canadian Press on February 13th, 2018

TORONTO – Losses in the energy sector led Canada’s main stock index lower in late-morning trading as the price of oil also lost ground. The S&P/TSX composite index was down 45.82 points to 15,196.06, after 90 minutes of trading. In New York, the Dow Jones industrial average was down 85.38 points to 24,515.89. The S&P ... Read More »

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White House downplays Trump ‘reciprocal tax’ threat: No formal plan in the works

By The Canadian Press on February 13th, 2018

WASHINGTON – The White House is downplaying a threat from President Donald Trump to impose a new import tax. A senior administration official says nothing formal is in the works. The official says Trump was simply reiterating sentiments he’s voiced for years about trade. The president confused many trade-watchers Monday with remarks about a new ... Read More »

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In their words: Bill and Melinda Gates on Trump, taxes

By The Associated Press on February 13th, 2018

Bill and Melinda Gates say they’re concerned about some of President Donald Trump’s policies and statements. Here are some excerpts from their recent interview with The Associated Press: GIVING PLEDGE Bill Gates says he’s met with Trump twice since he took office. The Microsoft co-founder hasn’t asked Trump to sign “The Giving Pledge,” a movement ... Read More »

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Bill, Melinda Gates turn attention toward poverty in America

By Sally Ho, The Associated Press on February 13th, 2018

KIRKLAND, Wash. – Bill and Melinda Gates, as the world’s top philanthropists, are rethinking their work in America as they confront what they consider their unsatisfactory track record on schools, the country’s growing inequity and a president they disagree with more than any other. In an interview with The Associated Press, the couple said they’re ... Read More »

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CSE to launch blockchain-based clearing house, challenging TMX’s platform

By The Canadian Press on February 13th, 2018

The Canadian Securities Exchange is planning to launch a blockchain-powered platform to clear and settle securities trades, challenging the monopoly long held by TMX Group Inc. This new clearing house, which requires approval from Canadian regulators, would allow companies to issue conventional equity and debt using a digital token representing a share in a business. ... Read More »

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AP interview: Qatar Air CEO sees growth despite Mideast spat

By Rod McGuirk, The Associated Press on February 13th, 2018

CANBERRA, Australia – Qatar Airways’ chief executive said Tuesday the carrier will post a loss this year because four other Arab countries have severed land, air and sea links with Qatar. Akbar al-Baker said the ban on Qatar’s flagship airline flying to neighbouring Saudi Arabia, United Arab Emirates, Bahrain and Egypt since last summer has ... Read More »

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Thomson Reuters chief executive Jim Smith taken to hospital after feeling unwell

By The Canadian Press on February 13th, 2018

TORONTO – Thomson Reuters Corp. says president and chief executive Jim Smith was taken to hospital Monday after feeling unwell. The company says Smith remains in hospital, under observation. Chief financial officer Stephane Bello will oversee Smith’s responsibilities in his absence in addition to his regular duties. Smith was appointed chief executive in January 2012. ... Read More »

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