Business
Indian authorities accuse BBC of tax evasion after searches
By The Associated Press on February 17th, 2023
NEW DELHI (AP) – India’s Finance Ministry accused the BBC of tax evasion on Friday, saying that it had not fully declared its income and profits from its operations in the country. Indian tax authorities ended three days of searches of the British broadcaster’s New Delhi and Mumbai offices on Thursday night. Opposition political parties ... Read More »
Be the first to comment!TransAlta to buy interest in Alta. pumped hydro energy storage development for $8M
By The Canadian Press on February 17th, 2023
CALGARY – TransAlta Corp. says it will acquire a 50 per cent interest in an early-stage pumped hydro energy storage development project in southwest Alberta. The Calgary company says Montem Resources Limited currently owns the Tent Mountain Renewable Energy Complex the two companies will jointly manage with TransAlta acting as project developer. Under the deal, ... Read More »
Be the first to comment!Air Canada reports $168M in profit in Q4 as passenger, operating revenues increase
By The Canadian Press on February 17th, 2023
MONTREAL – Air Canada posted a $168-million profit in its most recent quarter as passenger and operating revenues reached record highs. The Montreal-based airline says its fourth-quarter profit amounted to 41 cents per diluted share and compared with a loss of $493 million or $1.38 in the same period during 2021. The airline says its ... Read More »
Be the first to comment!Telecoms extend deadline to close Rogers-Shaw deal to March 31
By The Canadian Press on February 17th, 2023
The companies involved in Rogers Communications Inc.’s $26-billion deal to buy telecommunications rival Shaw Communications Inc. have extended their deadline to complete the transaction. Rogers, Shaw, the Shaw Family Living Trust and Quebecor Inc. say they have pushed the deadline back to March 31 from Feb. 17. If approved, the deal first announced in March ... Read More »
Be the first to comment!Commission report coming today will pronounce on federal use of Emergencies Act
By Jim Bronskill, The Canadian Press on February 17th, 2023
OTTAWA – A federal commission is to report today on the Liberal government’s use of the Emergencies Act against protests that paralyzed the streets around Parliament Hill and jammed several Canadian border points early last year. Justice Paul Rouleau’s report will address whether the government’s emergency declaration was justified and make recommendations likely to spark ... Read More »
Be the first to comment!‘No cuts coming’: Shopify president says company has no plans for another layoff
By Tara Deschamps, The Canadian Press on February 17th, 2023
TORONTO – As a growing number of tech companies carry out successive rounds of layoffs, Shopify Inc.’s president says there are no more cuts in the works for the Ottawa-based e-commerce company. “There’s no cuts coming for us,” Harley Finkelstein told The Canadian Press. “We’re in a really good place.” His confidence that the company’s ... Read More »
Be the first to comment!Federal ministers send Nunavut diamond mine proposal to environmental review
By The Canadian Press on February 16th, 2023
Federal ministers have agreed with the Nunavut Impact Review Board that a proposal for a new diamond mine in the territory should undergo a public review. De Beers Canada Inc. is seeking to build its Chidliak diamond mine on the Hall Peninsula of Baffin Island, about 120 kilometres northwest of Iqaluit. The company says it ... Read More »
Be the first to comment!Persistently high inflation makes businesses less competitive: BoC’s Beaudry
By The Canadian Press on February 16th, 2023
EDMONTON – Bank of Canada deputy governor Paul Beaudry says returning inflation to the central bank’s two per cent target is critical because high and volatile inflation makes the economy inefficient and businesses less competitive. In a speech at the University of Alberta on Thursday, the deputy governor says low and stable inflation go together, ... Read More »
Be the first to comment!S&P/TSX composite down more than 100 points, U.S. markets fall further
By The Canadian Press on February 16th, 2023
TORONTO – Canada’s main stock index lost just over half a per cent Thursday amid weakness in energy and technology, while U.S. markets fell further. The S&P/TSX composite index was down 113.97 points at 20,606.42. In New York, the Dow Jones industrial average was down 431.20 points, or 1.3 per cent, at 33,696.85. The S&P ... Read More »
Be the first to comment!US stocks drop as inflation remains stubbornly hot
By Stan Choe, The Associated Press on February 16th, 2023
NEW YORK (AP) – Stocks fell on Wall Street, posting their biggest drop in four weeks, after another reading on inflation came in hotter than expected. The S&P 500 fell 1.4% Thursday after inflation at the wholesale level slowed by less than economists forecast last month. Treasury yields rose as traders upped their bets for ... Read More »
Be the first to comment!Tesla recalls ‘Full Self-Driving’ to fix unsafe actions
By Tom Krisher, The Associated Press on February 16th, 2023
DETROIT (AP) – U.S. safety regulators have pressured Tesla into recalling nearly 363,000 vehicles with its “Full Self-Driving” system because it misbehaves around intersections and doesn’t always follow speed limits. The recall, part of part of a larger investigation by the National Highway Traffic Safety Administration into Tesla’s automated driving systems, is the most serious ... Read More »
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