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Meng Wanzhou’s rise through the ranks at Huawei
By Mae Anderson, The Associated Press on December 7th, 2018
NEW YORK – Before her dramatic arrest in Canada, few in the U.S. had heard of Meng Wanzhou. Meng, 46, is chief financial officer and deputy chairwoman of the board of Chinese telecom company Huawei. She now faces extradition to the U.S., reportedly on charges of trying to evade U.S. sanctions on Iran. She will ... Read More »
Be the first to comment!Meng Whanzou’s rise through the ranks at Huawei
By Mae Anderson, The Associated Press on December 7th, 2018
NEW YORK – Before her dramatic arrest in Canada, few in the U.S. had heard of Meng Wanzhou. Meng is chief financial officer and deputy chairwoman of the board of Chinese telecom company Huawei. The 46-year-old woman now faces extradition to the U.S., reportedly on charges of trying to evade U.S. sanctions on Iran. Meng ... Read More »
Be the first to comment!Oil producers join forces and cut production again
By Anthony Mills, Kiyoko Metzler And David Rising, The Associated Press on December 7th, 2018
VIENNA – Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply. Following two days of meetings, the Organization of the Petroleum Exporting Countries that includes the likes of Saudi Arabia and Iraq said they would ... Read More »
Be the first to comment!Chinese executive facing US extradition to appear in court
By Jim Morris, Rob Gillies And Paul Wiseman, The Associated Press on December 7th, 2018
VANCOUVER – A Chinese telecommunications executive will appear in court Friday to seek bail, the latest development in a surprising legal wrangle that raises doubts about whether a U.S.-China trade cease-fire can hold. The arrest of Meng Wanzhou, chief financial officer of the Chinese telecom giant Huawei, came as a jarring surprise after Presidents Donald ... Read More »
Be the first to comment!U.S.-China trade war distracting from talks with Canada on steel tariffs: Morneau
By The Canadian Press on December 7th, 2018
MONTREAL – Finance Minister Bill Morneau says the ongoing U.S.-China trade dispute is distracting from talks aimed at solving the steel tariffs issue between Canada and its largest trading partner. At an event in Montreal Friday, Morneau said the Americans’ Pacific trade row puts “multiple challenges on their plate,” making it tough for Ottawa to ... Read More »
Be the first to comment!‘Gangbusters’ data bump jobless rate to 40-year low, but wage growth slows again
By Andy Blatchford, The Canadian Press on December 7th, 2018
OTTAWA – A blast of new jobs last month knocked the country’s unemployment rate down to its lowest level since Statistics Canada started measuring comparable data more than 40 years ago – but despite eye-catching progress, Friday’s numbers also delivered disappointment. Canada added 94,100 net jobs for its largest monthly increase since March 2012 when ... Read More »
Be the first to comment!Junior oil firms cutting dividends, output as prices remain ’embarrassingly low’
By The Canadian Press on December 7th, 2018
CALGARY – A pair of junior Calgary oil companies are cutting payouts to shareholders and reducing production because of current steep discounts on western Canadian oil prices. Both Cardinal Energy Ltd. and Granite Oil Corp. say they can’t afford to wait and see if production cuts imposed by the Alberta government starting Jan. 1 will ... Read More »
Be the first to comment!Supremex cuts 41 jobs from Canadian envelope workforce in cost-reduction measure
By The Canadian Press on December 7th, 2018
MONTREAL – Supremex Inc. is cutting 41 employees at its Canadian envelope manufacturing operations in a cost-saving measure as it diversifies its business to include more packaging products. The company, headquartered in the Montreal community of LaSalle, says the cuts affect eight per cent of its Canadian envelope workforce. It currently operates 12 facilities across ... Read More »
Be the first to comment!Toronto stock index shows modest rebound as energy, cannabis shares lift
By The Canadian Press on December 7th, 2018
TORONTO – Canada’s main stock index was up moderately Friday morning, with energy and cannabis companies providing some of the lift. The S&P/TSX composite index was up 45.37 points at 14,956.14, after declining nearly 246 points on Thursday to the lowest close in five weeks. In New York, the Dow Jones industrial average was down ... Read More »
Be the first to comment!Altria invests $2.4 billion for 45% stake in Canadian cannabis producer Cronos
By Armina Ligaya, The Canadian Press on December 7th, 2018
TORONTO – Tobacco giant Altria Group will invest $2.4 billion in Canadian cannabis producer Cronos group for a 45-per-cent ownership stake as the global market for legal pot continues to grow. Virginia-based Altria, parent of the company that makes Marlboro cigarettes, can also invest up to a further $1.4 billion within four years that would ... Read More »
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