January 17th, 2020

Business

Ottawa to avoid selling Trans Mountain pipeline so long as risks remain

By Mia Rabson, The Canadian Press on January 17th, 2020

OTTAWA – The federal government is studying the best options for Indigenous communities to reap economic benefits from the Trans Mountain pipeline but Ottawa is not planning to sell the project while legal and political risks remain. The Supreme Court of Canada eliminated one of those risks Thursday when it denied British Columbia the right ... Read More »

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North American stock markets rise nearly two per cent in record-breaking week

By The Canadian Press on January 17th, 2020

TORONTO – North American stock markets gained almost two per cent in a record-breaking week defined by continued investor optimism. The S&P/TSX composite index was up 74.25 points at 17,559.02 after trading at a record high of 17,572.15. In New York, the Dow Jones industrial average was 50.46 points at 29,348.10. The S&P 500 index ... Read More »

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Bombardier’s financial challenges worry ratings agencies, prompting downgrades

By The Canadian Press on January 17th, 2020

MONTREAL – Two major rating agencies have voiced concerns over the finances of Bombardier Inc., whose future is being questioned as it considers options to raise its more than US$9 billion debt. S&P Global Ratings changed its outlook to “negative” from “stable” on Friday, following in the footsteps of Moody’s Investors Service, which did the ... Read More »

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Closed mills, housing surge support positive forecast for lumber, OSB industries

By The Canadian Press on January 17th, 2020

CALGARY – Financial analysts say Canadian production cutbacks and a consumer-driven recovery in housing starts in the United States could mean better times for lumber and panel products this year. In a research report, RBC analyst Paul Quinn estimates B.C. lumber producers have permanently closed mills accounting for 18 per cent of the province’s capacity, ... Read More »

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Employers post fewer jobs in November

By Martin Crutsinger, The Associated Press on January 17th, 2020

WASHINGTON – The number of available jobs fell sharply in November, dropping to 6.8 million, a decline of 7.6% from the October level. The Labor Department reported Friday that the job openings number for November was down by 561,000 from the October level of 7.36 million. Some economists took the big decline as a sign ... Read More »

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S&P/TSX composite in record territory for another day, U.S. stocks mixed

By The Canadian Press on January 17th, 2020

TORONTO – Canada’s main stock index was in record-high territory for another day as a broad-based rally helped it move higher even as energy stocks stepped back. The S&P/TSX composite index was up 54.96 points at 17,539.73 after trading as high as 17,557.89. In New York, the Dow Jones industrial average was up 0.75 of ... Read More »

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Cannabis company Canopy Growth delaying launch of infused beverages

By The Canadian Press on January 17th, 2020

SMITH FALLS, Ont. – Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks. The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps. Canopy submitted its final documentation for its beverage facility to Health Canada last June ... Read More »

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China’s 2019 economic growth weakens amid trade war

By Joe McDonald, The Associated Press on January 16th, 2020

BEIJING – China’s economic growth sank to a new multi-decade low in 2019 as Beijing fought a tariff war with Washington, but forecasters said a U.S.-Chinese trade truce might help to revive consumer and business activity. The world’s second-largest economy grew by 6.1%, down from 2018’s 6.6%, already the lowest since 1990, government data showed ... Read More »

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Truck slams into Illinois Starbucks; 4 sent to hospitals

By The Associated Press on January 16th, 2020

MCHENRY, Ill. – A pickup truck slammed into an Illinois Starbucks on Thursday, injuring several people and causing massive damage to the coffee shop, police said. Patrick Polidori, public affairs officer for McHenry police, told The Associated Press that the driver and four people inside the cafe were injured. Fire and rescue personnel extracted one ... Read More »

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China’s 2019 economic growth weakens to 6.1% amid trade war

By Joe McDonald, The Associated Press on January 16th, 2020

BEIJING – China’s economic growth sank to a new multi-decade low in 2019 as Beijing fought a trade war with Washington and domestic consumer spending weakened, adding to headaches for the ruling Communist Party. The world’s second-largest economy grew by 6.1%, down from 2018’s 6.6%, already the lowest since 1990, government data showed Friday. Growth ... Read More »

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