May 27th, 2018

Business

Trudeau to Trump: Auto import tariffs would hit U.S. economy just as hard

By Dan Healing, The Canadian Press on May 24th, 2018

Prime Minister Justin Trudeau said he plans to tell U.S. President Donald Trump that his threat to slap tariffs of up to 25 per cent on vehicle imports would have an “incredibly negative effect” on the American economy. The president’s request on Wednesday that U.S. Commerce Secretary Wilbur Ross consider whether the imports of automobiles ... Read More »

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Gold soars, major indices fall after U.S., North Korea talks cancelled

By The Canadian Press on May 24th, 2018

TORONTO – The price of gold soared and major stock indices dipped after United States President Donald Trump said he is cancelling a planned meeting with North Korean leader Kim Jong Un. The S&P/TSX composite index fell 20.18 points to 16,113.62. In New York, the Dow Jones industrial average retreated 75.05 points to 24,811.76. The ... Read More »

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Bell Media cancels two shows, lays off workers, citing financial pressure

By The Canadian Press on May 24th, 2018

TORONTO – Bell Media says it eliminated a number of jobs in Toronto after deciding not to renew two programs. Spokesman Scott Henderson says in an email the company cancelled Daily Planet and Innerspace. A company memo obtained by the Canadian Press says 17 positions, including taped segment producers and a director, were “declared surplus.” ... Read More »

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Aecon decision suggests infrastructure deals to face deep security reviews: expert

By Ross Marowits, The Canadian Press on May 24th, 2018

MONTREAL – The federal government’s decision to block the proposed $1.5-billion takeover of Aecon Group Inc. by a Chinese state-owned company signals Canada’s infrastructure sector has joined the oilsands, defence and aerospace industries in requiring special security protection, according to a Canadian security expert. “The Aecon decision suggests that any major takeover of a major ... Read More »

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PM stresses Canadian sovereignty, key services after Aecon deal nixed

By The Canadian Press on May 24th, 2018

OTTAWA – Prime Minister Justin Trudeau is suggesting his government blocked a Chinese takeover of a Toronto-based construction firm to ensure Canadian control of a key industrial sector. The Liberal government announced late Wednesday it had rejected the proposed purchase of Aecon Group Inc. by a Chinese state-owned company for reasons of national security. Trudeau ... Read More »

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Vancouver, Squamish pipeline challenges dismissed by court in B.C.

By The Canadian Press on May 24th, 2018

VICTORIA – The City of Vancouver and Squamish Nation have lost legal challenges aimed at quashing an environmental assessment certificate issued by the British Columbia government for the Trans Mountain pipeline expansion. The B.C. Supreme Court issued separate written judgments today in the cases. The previous B.C. Liberal government issued the certificate in January 2017, ... Read More »

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Canadian Press NewsAlert: Vancouver, Squamish pipeline challenges dismissed

By The Canadian Press on May 24th, 2018

VICTORIA – The City of Vancouver and Squamish Nation have lost legal challenges aimed at quashing an environmental assessment certificate issued by the B.C. government for the Trans Mountain pipeline expansion. The British Columbia Supreme Court issued separate judgments in the cases today. In the city’s case, the court said the province’s decision to grant ... Read More »

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Canadian auto sector observers doubt U.S. will carry through on tariff threat

By The Canadian Press on May 24th, 2018

Canadian auto industry observers are reacting with shock and disbelief to news that U.S. President Donald Trump has ordered an investigation that could result in tariffs of up to 25 per cent on auto sector imports into the United States. David Adams, president of the Global Automakers of Canada, which represents Japanese car manufacturers Honda ... Read More »

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TransLink pauses campaign featuring Morgan Freeman after allegations surface

By The Canadian Press on May 24th, 2018

VANCOUVER – Metro Vancouver’s transit authority is pressing pause on a promotional campaign featuring Morgan Freeman following a report detailing allegations of misconduct against the actor. TransLink says in a statement that it has decided to pause public announcements voiced by Freeman that had been set to play in parts of the transit system as ... Read More »

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TD, RBC second-quarter profit bump helped by rising rates, macro environment

By Armina Ligaya, The Canadian Press on May 24th, 2018

TORONTO – Two of Canada’s biggest banks reported second-quarter earnings Thursday that benefited from bigger profit margins on the back of rising interest rates, which could be less of a boon in coming quarters as pressure mounts to raise the interest rates banks pay on deposits. Toronto-Dominion Bank and Royal Bank of Canada handily beat ... Read More »

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