July 24th, 2021

Business

China’s Tencent ordered to end exclusive music contracts

By Joe Mcdonald, The Associated Press on July 23rd, 2021

BEIJING (AP) – Internet giant Tencent was ordered by regulators to end exclusive contracts with music copyright holders, adding to increased enforcement of anti-monopoly and other rules as Beijing tightens control over booming online industries. Tencent controls more than 80% of “exclusive music library resources” following its 2016 acquisition of China Music Group, the State ... Read More »

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North American markets gain on positive earnings from industrials, technology sectors

By The Canadian Press on July 23rd, 2021

TORONTO – Stock markets in Canada and the U.S. closed higher Friday after a day of gains for multiple sectors, including industrials, technology and energy. The S&P/TSX composite index was up 90.91 points at 20,188.43. In New York, the Dow Jones industrial average was up 238.20 points at 35,061.55. The S&P 500 index was up ... Read More »

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Symmetry not guaranteed on border policy: envoy

By James McCarten, The Canadian Press on July 23rd, 2021

WASHINGTON – Just because Canada and the United States worked closely together to restrict travel across their shared border doesn’t mean they were always going to move in lockstep when the time came to reopen it, Ottawa’s envoy to Washington said Friday. There’s been “enormous” co-ordination and information shared between the two regarding the border ... Read More »

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Canada, U.S. working together is no guarantee of border symmetry, ambassador says

By The Canadian Press on July 23rd, 2021

WASHINGTON – Canada’s envoy to the U.S. says just because the two countries have been working together to manage their shared border doesn’t mean they were always going to be moving in perfect symmetry. Kirsten Hillman says both Canada and the U.S. are well within their rights to be making their own unilateral decisions about ... Read More »

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Retail sells fell by 2.1% in May, but will likely to climb further in June: StatCan

By The Canadian Press on July 23rd, 2021

OTTAWA – Statistics Canada says retail sales fell by 2.1 per cent to $53.8 billion in May, as many businesses remained close during the third wave of COVID-19, but the agency expects to see a return to growth once June numbers are available. Sales decreased in eight of 11 subsectors for May, representing more than ... Read More »

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Mario Batali harassment probe settlement: $600K to accusers

By Michael R. Sisak, The Associated Press on July 23rd, 2021

NEW YORK (AP) – Celebrity chef Mario Batali, his business partner and their New York City restaurant company have agreed to pay $600,000 to resolve a four-year investigation by the state attorney general’s office into allegations that Batali, restaurant managers and other workers sexually harassed employees. The money will be split among at least 20 ... Read More »

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MEG Energy boosts 2021 production guidance on strong six months and Q2 profits

By The Canadian Press on July 23rd, 2021

CALGARY – MEG Energy Corp. boosted its full-year production guidance after reporting $68 million in net profits in the second quarter on a near doubling of revenues. The Calgary-based company earned 22 cents per diluted share, up from a loss of three cents per share of $9 million in the prior year. Revenues for the ... Read More »

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Magna agrees to buy Swedish driver technology firm Veoneer for US$3.8 billion

By The Canadian Press on July 23rd, 2021

TORONTO – Magna International Inc. is advancing its goal of becoming a global leader in advanced driver assistance technology by reaching an agreement to acquire Swedish automotive safety technology firm Veoneer for US$3.8 billion including debt. The Ontario-based auto parts manufacturer will pay US$31.25 per share in cash, a 57 per cent premium that reflects ... Read More »

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Industrials and technology boost TSX in late-morning trading; U.S. markets also up

By The Canadian Press on July 23rd, 2021

TORONTO – Industrials and technology sectors boosted Canada’s main stock index in late-morning trading, while U.S. markets also moved higher in the final day of trading for the week. The S&P/TSX composite index was up 81.72 points at 20,179.84. In New York, the Dow Jones industrial average was up 198.00 points at 35,021.35. The S&P ... Read More »

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Cleveland’s Major League Baseball team renamed to Guardians

By Tom Withers, The Associated Press on July 23rd, 2021

CLEVELAND (AP) – Known as the Indians since 1915, Cleveland’s Major League Baseball team will be called Guardians. The ballclub announced the name change Friday with a video on Twitter narrated by actor Tom Hanks, ending months of internal discussions triggered by a national reckoning by institutions and teams to permanently drop logos and names ... Read More »

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