January 19th, 2021

Business

European car sales suffer worst plunge ever in pandemic

By The Associated Press on January 19th, 2021

MILAN – European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry. New car registrations sank by 23.7%, or 3 million vehicles, to 9.9 million units, according to new figures released Tuesday by the European Automobile Manufacturers Association. It said lockdowns and ... Read More »

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Profit at Chinese state industry rises with virus recovery

By Joe McDonald, The Associated Press on January 19th, 2021

BEIJING – Profit at state-owned companies that dominate China’s banking, oil and most other industries rose by as much as 25% last year as the country recovered from the coronavirus pandemic, the government said Tuesday. Total revenue for national-level companies rose 2.2% over 2019 to 30.3 trillion yuan ($4.7 trillion), according to Peng Huagang, secretary ... Read More »

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Turkey slaps advertising ban on Twitter, Pinterest

By The Associated Press on January 19th, 2021

ANKARA, Turkey – Turkey on Tuesday slapped advertising bans on Twitter, Periscope and Pinterest over their non-compliance with a controversial new law that requires social media platforms to appoint legal representatives in the country. The law – which human rights and media freedom groups say amounts to censorship – forces social media companies to maintain ... Read More »

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TC Energy decarbonization response to Keystone setback unlikely to sway ESG investors

By Anita Balakrishnan, The Canadian Press on January 19th, 2021

Sustainable investing experts say TC Energy Corp.’s plan to decarbonize the Keystone XL pipeline is unlikely to save its fortunes, as a growing movement to divest from fossil fuels gains political clout. U.S. President-elect Joe Biden intends to sign an executive order on inauguration day to rescind the presidential permit for the Keystone XL pipeline ... Read More »

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Remittances to El Salvador rebound after early pandemic drop

By The Associated Press on January 18th, 2021

SAN SALVADOR, El Salvador – The money sent home to El Salvador by migrants plunged 40% at the start of the coronavirus pandemic, but then recovered to end 2020 at a record high of $5.92 billion, authorities said Monday. The country’s central bank said the figure was 4.8% higher than in 2019, or almost $270 ... Read More »

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AltaLink seeks to refund extra $350 million over three years to Alberta customers

By The Canadian Press on January 18th, 2021

CALGARY – AltaLink wants to refund an additional $350 million to Alberta’s electricity customers over the next three years because of low energy prices. The move, combined with its previous rate initiatives, would reduce each Albertan’s electricity bill by an average of 11 per cent per year between 2021 and 2023. Alberta’s largest electricity transmission ... Read More »

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Pandemic doesn’t slow cargo shipments at the port in Prince Rupert, B.C.

By The Canadian Press on January 18th, 2021

PRINCE RUPERT, B.C. – The port in Prince Rupert, B.C., has set another record in defiance of the economic downtown caused by the COVID-19 pandemic. The port authority announced Monday that despite unprecedented challenges brought on by the pandemic, 32.4 million tonnes of cargo moved through the port in 2020, up nine per cent from ... Read More »

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Most actively traded companies on the Toronto Stock Exchange

By The Canadian Press on January 18th, 2021

TORONTO – Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (17,944.88, up 35.85 points.) Zenabis Global Inc. (TSX:ZENA). Health care. Up 2.5 cents, or 29.41 per cent, to 11 cents on 39.4 million shares. Score Media and Gaming Inc. (TSX:SCR). Telecommunications. Up 49 cents, or 16.78 per ... Read More »

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Cancelled Keystone XL pipeline expansion won’t lessen oil dependency, experts say

By The Canadian Press on January 18th, 2021

CALGARY – Cancelling the multi-billion dollar Keystone XL pipeline expansion would not only jeopardize thousands of jobs in Alberta, it would also mean the loss of billions of dollars in corporate income taxes, carbon taxes and royalties, according to energy experts. TC Energy Corp.’s 1,947-kilometre project would carry crude oil from Hardisty, Alta., to Steele ... Read More »

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S&P/TSX composite edges higher despite energy trending down on Keystone XL news

By The Canadian Press on January 18th, 2021

TORONTO – Canada’s main stock index edged higher in a broad-based rally even as energy was pulled down by the prospect of a presidential permit being rescinded for the Keystone XL project. The S&P/TSX composite index closed up 35.85 points to 17,944.88. U.S. stock markets are closed for Martin Luther King Jr. Day. The Canadian ... Read More »

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