December 11th, 2018

Business

France counts costs of protests, new measures: $11 billion

By The Associated Press on December 11th, 2018

PARIS – Tax relief and other fiscal measures announced by French President Emmanuel Macron to try to calm nationwide protests will cost 10 billion euros ($11 billion), the government said Tuesday. In parliament, Prime Minister Edouard Philippe went to bat for Macron’s measures, calling them “massive” and proof that he “has heard the anger.” After ... Read More »

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Postal union challenges constitutionality of government’s back-to-work bill

By The Canadian Press on December 11th, 2018

OTTAWA – The union representing Canada Post employees is taking the Trudeau government to court over the legislation that ended rotating strikes by its members. The Canadian Union of Postal Workers says it will file a constitutional challenge today in Ontario Superior Court, arguing Bill C-89 violated the rights of workers to collective bargaining. The ... Read More »

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North American stock markets head higher in late-morning trading; Loonie down

By The Canadian Press on December 11th, 2018

TORONTO – Canada’s main stock index was higher in late-morning trading, boosted by gains in the consumer staples sector as well as in financial and industrial stocks. The S&P/TSX composite index was up 69.40 points at 14,797.68. In New York, the Dow Jones industrial average was up 110.23 points at 24,533.49. The S&P 500 index ... Read More »

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Modest home price growth forecasted for 2019: Re/Max and Royal LePage

By The Canadian Press on December 11th, 2018

TORONTO – Home prices across the country are expected to rise in 2019, but only at a moderate pace compared with recent years, according to two of Canada’s largest residential real estate brokerages. In its annual report, Royal LePage says it’s anticipating the national median home price will increase by 1.2 per cent in 2019. ... Read More »

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Marriott and Starwood face class action lawsuits following data breach

By The Canadian Press on December 11th, 2018

TORONTO – Marriott International Inc. customers in Canada have filed a string of class-action lawsuits against the hotel giant and its Starwood brand after a recent security breach. At least three lawsuits have been launched against the U.S.-based company behind brands including W Hotels, St. Regis, Sheraton and Westin. Court documents show Toronto- and Montreal-based ... Read More »

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Ex-diplomat who worked on Trudeau’s Hong Kong visit detained in China: reports

By Andy Blatchford, The Canadian Press on December 11th, 2018

OTTAWA – A former Canadian diplomat – who worked as a political lead for Prime Minister Justin Trudeau’s 2016 visit to Hong Kong – has reportedly been arrested in China. The International Crisis Group says it is aware of media reports that Michael Kovrig, its North East Asia senior adviser, has been detained. A member ... Read More »

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CBS meeting adjourns without discussing Moonves scandal

By Mae Anderson And Alexandra Olson, The Associated Press on December 11th, 2018

NEW YORK – CBS shareholders quickly elected 11 members of its revamped board on Tuesday before their annual meeting adjourned without discussion of an investigation into sexual-misconduct claims against former CBS CEO Les Moonves. The meeting wrapped up in less than 30 minutes. About a dozen protesters gathered outside, holding such signs as “CBS don’t ... Read More »

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Former Canadian diplomat detained in China amid rising tensions: reports

By The Canadian Press on December 11th, 2018

OTTAWA – A former Canadian diplomat has been arrested in China, according to media reports and the international think tank he works for. International Crisis Group says it’s aware of reports that its North East Asia senior adviser Michael Kovrig has been detained. In a statement, the organization says it’s doing everything possible to obtain ... Read More »

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Enbridge announces $1.8B in pipeline spending; raises dividend 10 per cent

By The Canadian Press on December 11th, 2018

CALGARY – Enbridge Inc. is announcing $1.8 billion in new investments, including the $265-million purchase of pipeline and terminal assets in northern Alberta from oilsands producer Athabasca Oil Corp. The Calgary-based pipeline, utility and power company says it will also spend US$600 million to buy a 22.75 per cent interest in the Gray Oak Liquids ... Read More »

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US wholesale prices rise 0.1 pct., a sign inflation in check

By Christopher Rugaber, The Associated Press on December 11th, 2018

WASHINGTON – U.S. wholesale prices barely rose last month as a sharp decline in the cost of gas offset pricier freight trucking services and mobile phone plans. The Labor Department said Tuesday that the producer price index – which tracks cost changes before they reach the consumer – increased 0.1 per cent in November from ... Read More »

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