January 19th, 2021

Business

Wattpad to be sold to South Korean internet giant Naver for US$600 million

By The Canadian Press on January 19th, 2021

TORONTO – Online storytelling company Wattpad Corp. says it will be acquired by South Korean internet conglomerate Naver for US$600 million. The Toronto-based company says the acquisition is a cash and stock transaction that was unanimously approved by its board of directors earlier today. Under the terms of the deal, Wattpad will keep its Canadian ... Read More »

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Italian PM wins crucial vote in Senate with very thin margin

By Frances D'Emilio And Colleen Barry, The Associated Press on January 19th, 2021

ROME – Italian Premier Giuseppe Conte won a crucial confidence vote in the Senate late Tuesday, keeping his wobbly coalition afloat for now, but with such a shrunken majority it will make it extremely hard to effectively govern a country reeling from the pandemic. The vote went 156 to 140 in his favour, There were ... Read More »

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Stores drop MyPillow after CEO pushes election conspiracies

By Joseph Pisani And Anne D'Innocenzio, The Associated Press on January 19th, 2021

NEW YORK – The founder and CEO of MyPillow, a vocal and very visible supporter of President Donald Trump, said a backlash against the company has begun after a mob stormed the U.S. Capitol this month. Mike Lindell, who appears in TV commercials hugging the company’s foam-filled pillows, said major retailers like Bed Bath & ... Read More »

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Energy pushes S&P/TSX composite up as TC Energy shares rebound after Keystone worries

By The Canadian Press on January 19th, 2021

TORONTO – Canada’s main stock index move higher on the strength of the energy sector, which recovered as TC Energy bounced back from a selloff over prospects for the Keystone XL pipeline. The S&P/TSX composite index closed up 12.49 points to 17,957.37. In New York, the Dow Jones industrial average was up 116.26 points at ... Read More »

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Germany to extend virus shutdown until mid-February

By Kirsten Grieshaber And Frank Jordans, The Associated Press on January 19th, 2021

BERLIN – Chancellor Angela Merkel and the governors of Germany’s 16 states agreed Tuesday to extend the country’s pandemic restrictions until mid-February amid concerns that new mutations of the coronavirus could trigger a fresh surge in cases. The country’s infection rate has stabilized in recent days, indicating that existing restrictions may have been effective in ... Read More »

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Maritime senators issue plea for Ottawa to provide financial support to Maritime Bus

By The Canadian Press on January 19th, 2021

OTTAWA – Twenty-one senators from the Maritimes are urging the federal government to provide financial assistance to an inter-city bus service that they say is in financial peril because of the COVID-19 pandemic. The senators have sent a letter to federal Transport Minister Omar Alghabra, saying Maritime Bus provides an essential service to the health-care ... Read More »

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Coal policy decisions belong with politicians, not courts, Alberta lawyer argues

By The Canadian Press on January 19th, 2021

CALGARY – An Alberta government lawyer says decisions about environmental policy should be made by elected officials, not the courts. Melissa Burkett is speaking at a court hearing that is to decide whether a request for a judicial review into Alberta’s decision to revoke a policy protecting the Rocky Mountains from coal mining can proceed. ... Read More »

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Amazon to open five facilities in Quebec and create more than 1,000 jobs

By The Canadian Press on January 19th, 2021

MONTREAL – Amazon says it will open five facilities in Quebec that will create more than 1,000 jobs and speed up customer deliveries. The U.S. online retail giant says it will add two sorting centres and its first three delivery stations in the province. Its largest sorting centre in the province, a 48,300-square-metre facility, will ... Read More »

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Trudeau vows to keep up the fight to sway U.S. on merits of Keystone XL pipeline

By The Canadian Press on January 19th, 2021

WASHINGTON – Prime Minister Justin Trudeau says Canada will continue to fight to convince president-elect Joe Biden’s administration of the merits of the Keystone XL pipeline expansion. Trudeau says Kirsten Hillman, Canada’s envoy to the U.S., is pressing Ottawa’s case with what he calls the “highest levels” of the Biden team. Biden promised during last ... Read More »

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Goldman Sachs’ profits more than double, despite pandemic

By Ken Sweet, The Associated Press on January 19th, 2021

NEW YORK – Goldman Sachs said its profits more than doubled from a year earlier thanks to a surge in both trading and advising revenue. The New York-based investment bank said it earned a profit of $4.36 billion, or $12.08 per share, up from a profit of $1.72 billion, or $4.69 a share, in the ... Read More »

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