April 28th, 2017

Business

New Brunswick mill taking ‘time out’ because of U.S. lumber tariffs

By The Canadian Press on April 27th, 2017

FREDERICTON – A New Brunswick sawmill owner says his mill is shutting down because of U.S. lumber tariffs. Danny Stillwell said Thursday he’s taking “a time out,” at least until a dispute over new tariffs is resolved. He declined a full interview Thursday, but said he stands by comments he made to the Telegraph-Journal newspaper ... Read More »

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United to offer bumped flyers up to $10,000 after video flap

By David Koenig, The Associated Press on April 27th, 2017

DALLAS – United Airlines says it will raise the limit – to $10,000 – on payments to customers who give up seats on oversold flights and will increase training for employees as it deals with fallout from the video of a passenger being violently dragged from his seat. United is also vowing to reduce, but ... Read More »

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Fewer people signed contracts to buy US homes in March

By Matt Ott, The Associated Press on April 27th, 2017

WASHINGTON – Fewer consumers signed contracts to buy U.S. homes last month as the spring buying season revs up with stiff competition for affordable homes amid lagging inventory. The National Association of Realtors says that its pending home sales index slipped 0.8 per cent to 111.4 in March, from 112.3 in February. Lawrence Yun, chief ... Read More »

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Home Capital secures firm commitment for $2-billion line of credit, stock rises

By The Canadian Press on April 27th, 2017

TORONTO – Home Capital Group Inc. shares have recovered some of Wednesday’s losses in early trading this morning after the company said it has received a firm commitment for $2-billion of credit from a major financial institution. The Toronto-based mortgage lender didn’t identify the Canadian insituation that’s supplying the credit but says it has hired ... Read More »

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European Central Bank says recovery ‘increasingly solid’

By David McHugh, The Associated Press on April 27th, 2017

FRANKFURT – The European Central Bank kept its stimulus program and interest rates unchanged Thursday even though it conceded that the economic recovery in the 19-country is becoming stronger. Though a raft of economic indicators in recent weeks have pointed to a strengthening recovery, there was little expectation the bank would adjust policy in the ... Read More »

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Home Capital secures firm commitment for $2-billion line of credit

By The Canadian Press on April 27th, 2017

TORONTO – Home Capital Group Inc. (TSX:HCG) says its Home Trust subsidiary has secured a firm commitment for a $2-billion credit line from an unidentified Canadian institutional investor. The mortgage lender also says it has hired RBC Capital Markets and BMO Capital Markets to advise on further financing and strategic options. Shares in Home Capital ... Read More »

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US unemployment claims tick up but remain at low level

By Paul Wiseman, The Associated Press on April 27th, 2017

WASHINGTON – More Americans filed for unemployment benefits last week, but applications remained at a low level that suggests most workers enjoy job security. THE NUMBERS: The Labor Department says weekly jobless claims rose by 14,000 to 257,000, the highest level in almost a month. The less volatile four-week average slipped by 500 to 242,250, ... Read More »

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US durable goods advance modest 0.7 per cent in March

By Martin Crutsinger, The Associated Press on April 27th, 2017

WASHINGTON – Orders for long-lasting manufactured goods posted only a modest gain in March as a key category that tracks business investment plans remained weak. The Commerce Department says orders for durable goods rose a slight 0.7 per cent in March, the weakest showing since a 0.9 per cent decline in December. The strength came ... Read More »

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Jean Coutu sales up but profit weakened by generic prices, higher expenses

By The Canadian Press on April 27th, 2017

VARENNES, Que. – Jean Coutu Group (TSX:PJC.A) says its store sales and revenue were up in the final quarter of its 2017 financial year but its profit declined due to weak generic drug prices and costs associated with setting up a new head office. The Quebec-based pharmacy company had $47.8 million or 26 cents per ... Read More »

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European Central Bank keeps stimulus on hold as risks loom

By David McHugh, The Associated Press on April 27th, 2017

FRANKFURT – The European Central Bank has left its stimulus program unchanged as it waits for the continent’s political situation to settle down and held off Thursday from signalling any retreat from its efforts to support the strengthening economy. The stand-pat decision comes days ahead of the second round of France’s presidential election, in which ... Read More »

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