January 18th, 2018

Business

Conservatives balk at GOP plan to avert government shutdown

By Alan Fram And Andrew Taylor, The Associated Press on January 16th, 2018

WASHINGTON – Disgruntled conservatives threatened late Tuesday to scuttle Republican leaders’ plans to prevent a weekend government shutdown, saying GOP leaders now lack the votes to push their proposal through the House. The setback came as a deal between President Donald Trump and Congress to protect young immigrants from deportation also remained distant. The intransigence ... Read More »

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Canadian Western Agribition in Regina spurs Saskatchewan economy: report

By The Canadian Press on January 16th, 2018

REGINA – A new study says Canadian Western Agribition in Regina pumped $73 million into Saskatchewan’s economy last year. The annual event is the largest livestock show in Canada and features beef cattle, horses, bison, sheep, goats and an agribusiness trade show. Agribition CEO Chris Lane says the show’s economic impact has jumped $17 million ... Read More »

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Immigration deal distant as leaders try to avert shutdown

By Alan Fram And Andrew Taylor, The Associated Press on January 16th, 2018

WASHINGTON – A deal between President Donald Trump and Congress to protect young immigrants from deportation remained distant Tuesday, as House Republicans leaders turned their attention to building support for a backup plan: a stopgap funding bill to stave off the threat of an election-year shutdown. The focus on a budget Plan B – another ... Read More »

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Short seller sues Home Capital Group, 3 former executives for $4M in damages

By The Canadian Press on January 16th, 2018

TORONTO – A short seller is suing Home Capital Group (TSX:HCG) and three former executives for $4 million, alleging the alternative mortgage lender’s false representations scandal cost him millions when he closed his position early. Marc Cohodes filed a statement of claim Monday with the Ontario Superior Court of Justice saying he took a substantial ... Read More »

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GE to pay $15B for past mistakes amid breakup speculation

By Michael Liedtke, The Associated Press on January 16th, 2018

SAN FRANCISCO – General Electric Co. will pay $15 billion to make up for the miscalculations of an insurance subsidiary as a new regime weighs future changes that could culminate in a breakup of a company conceived in the industrial age. The setback announced Tuesday is rooted in North American Life & Health, a part ... Read More »

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Scheer heads to Washington as part of united front in defence of NAFTA

By The Canadian Press on January 16th, 2018

OTTAWA – Conservative Leader Andrew Scheer is visiting Washington this week to form a united front with the Liberal government and help promote the benefits of the North American Free Trade Agreement. He will lead a delegation of Tories who will meet with U.S. officials, including U.S. Transportation Secretary Elaine Chao. Scheer’s spokesman Jake Enwright ... Read More »

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Magna to increase investments in electrification and vehicle autonomy

By Ross Marowits, The Canadian Press on January 16th, 2018

Magna International Inc. is increasing its bet on electric and autonomous vehicles by investing more in these areas in anticipation of long-term returns, its chief executive said Tuesday. “At a time when there is unprecedented change happening in the industry, we believe Magna is uniquely positioned to capitalize on the key trends, which include taking ... Read More »

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Valeant says California judge gives preliminary approval to Allergan settlement

By The Canadian Press on January 16th, 2018

LAVAL, Que. – Valeant Pharmaceuticals International Inc. says a U.S. District Court judge gave his preliminary approval Tuesday to a US$290-million settlement of lawsuits stemming from the unsuccessful attempted hostile takeover in 2014 of Botox maker Allergan Inc. As part of the deal agreed to in December, Quebec-based Valeant (TSX:VRX) will pay US$96.25 million, with ... Read More »

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B.C. premier rejects Green call for foreign buyers ban days before Asia visit

By The Canadian Press on January 16th, 2018

VICTORIA – Premier John Horgan says he has plans to tone down speculation in British Columbia’s real estate market but banning foreign buyers is not one of them. Horgan says he rejects recent calls by Green party Leader Andrew Weaver to implement a New Zealand-style law that restricts the purchase of existing homes to residents ... Read More »

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Alberta monitors, makes contingency plans on road clearing in UK firm bankruptcy

By The Canadian Press on January 16th, 2018

EDMONTON – Alberta’s transportation minister says they are making contingency plans to clear and maintain roads as they monitor the financial fallout of a multinational United Kingdom construction company. Brian Mason says for now they believe the bankruptcy of Carillion PLC won’t affect the operations of its Canadian subsidiary. Carillion Canada maintains more than 40 ... Read More »

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