June 26th, 2017

Business

Air bag maker Takata files for bankruptcy in Japan, US

By Tom Krisher And Marcy Gordon, The Associated Press on June 25th, 2017

Japanese air bag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of faulty air bag inflators. The company announced the expected action Monday morning Tokyo time. Takata confirmed that most of its assets will be bought by rival Key Safety ... Read More »

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New Lake Tahoe lodge praised as boon to economy, environment

By The Associated Press on June 25th, 2017

STATELINE, Nev. – More than two decades after developers first faced a series of stringent regulations, a $100 million lodge has opened on the south shore of Lake Tahoe to rave reviews from politicians, business leaders and environmentalists. Completion of the 154-room Edgewood Tahoe Lodge on the edge of the golf course that hosts a ... Read More »

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Canadian lumber producers brace for second round of softwood lumber duties

By Ross Marowits, The Canadian Press on June 25th, 2017

MONTREAL – Canada’s softwood lumber industry is bracing for a second wave of U.S. duties expected to come Monday that could put further pressure on producers, particularly smaller ones, to cut jobs. The U.S. Department of Commerce announced in April preliminary countervailing duties against five companies ranging between three and 24 per cent, with other ... Read More »

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Italy giving 5.2B euros in resources to keep 2 banks open

By Frances D'Emilio, The Associated Press on June 25th, 2017

ROME – The Italian government on Sunday made 5.2 billion euros ($5.8 billion) of resources immediately available to keep operative two banks that the European Central Bank has deemed “failing or about to fail,” sending them into insolvency procedures. Premier Paolo Gentiloni defended the swift action by the government as vital for ensuring Italy’s slow ... Read More »

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Dakota Access review to re-examine impact on tribe

By Blake Nicholson, The Associated Press on June 25th, 2017

BISMARCK, N.D. – A federal judge’s order for more environmental review of the already-operating Dakota Access oil pipeline has several potential outcomes, all of which could spark even more wrangling in a Washington, D.C., court room. The big question is whether the pipeline will be shut down while the case plays out – and if ... Read More »

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‘Transformers’ tops box office but is biggest in China

By Jake Coyle, The Associated Press on June 25th, 2017

NEW YORK – Michael Bay’s “Transformers: The Last Knight” scored a franchise-low debut but still easily topped the North American box office with an estimated $43.5 million in ticket sales over the weekend. The Paramount Pictures release, the fifth in the “Transformers” series, totalled $69.1 million in five days, after opening Wednesday. But it was ... Read More »

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Italy makes 5.2B euros in resources to keep 2 banks afloat

By The Associated Press on June 25th, 2017

ROME – The Italian government is making 5.2 billion euros ($5.8 billion) of resources available to keep operative two banks that the European Central Bank last week had deemed “failing or about to fail,” sending them into insolvency procedures. Premier Paolo Gentiloni said the measures, adopted at a Cabinet meeting Sunday, are “in full respect ... Read More »

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Air bag maker Takata bankruptcy filing expected in Japan, US

By Tom Krisher, The Associated Press on June 25th, 2017

DETROIT – Drowning in a sea of lawsuits and recall costs, Japanese air bag maker Takata Corp. is expected to seek bankruptcy protection in Tokyo and the United States early Monday. Takata was done in by defective air bag inflators that can explode with too much force, spewing out shrapnel. They’re responsible for at least ... Read More »

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From condoms to caskets: Merchandise marks Canada’s 150th birthday

By Steve Lambert, The Canadian Press on June 25th, 2017

It’s been said that Canadians are not brash about their patriotism, but you wouldn’t know it from the variety of merchandise, big and small, being snapped up in advance of Canada’s 150th birthday July 1. From T-shirts to hats, flags to flasks, condoms to caskets, goods adorned with celebratory logos are popping up faster than ... Read More »

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Debt, protectionism could drag down improving global economy

By David McHugh, The Associated Press on June 25th, 2017

FRANKFURT – The global economy has picked up and prospects for the next few months are the best in a long time. But the recovery is maturing and faces risks from populist rejection of free trade and from high debt that could burden consumers and companies as interest rates rise. Those were key takeaways from ... Read More »

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