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Uber insurance

Jul 28, 2015 / 11:33 am

The Insurance Bureau of Canada says drivers who work for ride-hailing service Uber should check to make sure their insurance policies cover their vehicles for commercial use. Spokesman Steve Kee says some policies only provide coverage for personal use, which could lead to a rejected claim if...

12 years for Ponzi scheme

Jul 28, 2015 / 9:29 am

A judge has sentenced two men to 12 years in prison for one of the largest Ponzi schemes in Canadian history. Gary Sorenson, 71, and Milowe Brost, 61, were found guilty of fraud and theft in February for an elaborate, multimillion-dollar scheme in which investors were promised unrealistic...

Gurus warn of 'killer robots'

Jul 28, 2015 / 7:58 am

Scientists and tech experts — including professor Stephen Hawking and Apple co-founder Steve Wozniak — warned Tuesday of a global arms race with weapons using artificial intelligence. In an open letter with hundreds of signatories, the experts argued that if any major military power...

Profit behind power outages

Jul 28, 2015 / 5:54 am

TransAlta Corp. deliberately timed outages at power plants in Alberta at peak times in order to drive up electricity prices, the province's utilities commission said in a ruling Monday. The Alberta Utilities Commission conducted hearings after the province's market surveillance...

Volkswagen outsells Toyota

Jul 28, 2015 / 5:15 am

Volkswagen overtook Toyota in global vehicle sales for January-June, the first time the German automaker has come out top in the intensely competitive tallies. Japanese automaker Toyota Motor Corp. said Tuesday it sold 5.02 million vehicles in the first six months of this year, down 1.5 per cent...

WestJet profit & revenue up

Jul 28, 2015 / 4:06 am

WestJet (TSX:WJA) earned a second-quarter profit of $61.6 million, up from $51.8 million, as the airline cut cuts and improved revenue. The Calgary-based airline says the profit amounted to 49 cents per diluted share for the quarter compared with a profit of 40 cents per diluted share a year...

Forced to buy back trucks

Jul 27, 2015 / 12:13 pm

Fiat Chrysler must offer to buy back from customers more than 500,000 Ram pickup trucks and other vehicles in the biggest such action in U.S. history as part of a costly deal with safety regulators to settle legal problems in about two dozen recalls. The Italian-American automaker also faces a...

'Plan B' shakes Greece

Jul 27, 2015 / 11:45 am

The Greek government was poised Monday for the imminent start of intricate bailout discussion but faced rebuke following revelations that former finance minister, Yanis Varoufakis, formed a secret committee to plan for the possible conversion of euros into drachmas "at a drop of a...

Tims rethinks in-house TV

Jul 27, 2015 / 9:39 am

Executives at Tim Hortons are reconsidering whether it's worth the risk of flavouring your coffee break with potential controversy. After the restaurant chain was dragged into a clash between environmentalists and oil industry supporters last month, Daniel Schwartz, CEO of Tim Hortons'...

Stars' streaming venture

Jul 27, 2015 / 6:30 am

Madonna, who co-owns Tidal with Jay Z, Beyonce and others, says it's just the beginning for the streaming service that's had some troubles since its launch in March. "It's just the beginning, so we're working out a lot of kinks and hopefully we're going to build...

Nortel's rise and fall

Jul 27, 2015 / 6:24 am

It was 15 years ago this month when Nortel Networks' shares hit an all-time high of $124.50 on Toronto's stock market. The company's sky-high stock made it by far Canada's most valuable company at the time — with a market value that briefly surpassed any of the banks and...

Recalls trigger buy back

Jul 26, 2015 / 3:24 pm

Fiat Chrysler will buy back about 300,000 Ram pickup trucks in the biggest such action in U.S. history as part of a deal with U.S. safety regulators to settle legal problems in about two-dozen recalls, two people briefed on the matter say. Some of the trucks, which are the company's...

Will insurance cover pot?

Jul 26, 2015 / 7:21 am

Canadians who have been prescribed medical marijuana could one day see their insurance company footing the bill, experts predict, following the introduction of new Health Canada rules that allow for the sale of cannabis oils. Health Canada announced revamped medical marijuana regulations earlier...

Miracle drug, unholy price

Jul 24, 2015 / 2:56 pm

The Food and Drug Administration on Friday approved a first-of-a-kind drug that lowers artery-clogging cholesterol more than older drugs that have been prescribed for decades. The drug from Sanofi and Regeneron Pharmaceuticals Inc. offers an important new option for millions of patients at high...

Encana reduces head count

Jul 24, 2015 / 12:32 pm

Encana Corp. said Friday it has trimmed its workforce by more than 200 over the past month or so as it posted a net loss of US$1.6 billion during the second quarter. The Calgary-based company now has 1,400 fewer workers than when it unveiled a new strategy in the fall of 2013. Close to 1,000...

Fiat Chrysler hacker recalls

Jul 24, 2015 / 11:57 am

Fiat Chrysler has decided to recall about 1.4 million cars and trucks in the U.S. just days after two hackers revealed that they took control of a Jeep Cherokee SUV over the Internet. The company also disclosed in government documents that the hackers got into the Jeep through an electronic...

AT&T to purchase DirectTV

Jul 24, 2015 / 11:35 am

AT&T's $48.5 billion purchase of DirecTV is set to close after winning clearance from the Federal Communications Commission. The Justice Department had already cleared the deal, which will create the largest provider of cable or satellite TV in the U.S., with 26.4 million cable and...

WWE severs ties with Hulk

Jul 24, 2015 / 10:33 am

World Wrestling Entertainment Inc. has severed ties with Hulk Hogan amid a report that one of the biggest stars in professional wrestling history used racial slurs in a conversation caught on a sex tape. The company deleted most references to Hogan on its website and issued a statement Friday...

Tech tariffs lifted

Jul 24, 2015 / 5:55 am

Dozens of countries have agreed to abolish duties on more than 200 technology products — from advanced computer chips to GPS devices, printer cartridges and video-game consoles. The agreement announced Friday marks the World Trade Organization's first tariff-killing deal in 18...

Canada's beef in trade spat

Jul 23, 2015 / 2:45 pm

The Canadian government isn't satisfied by the latest step taken by U.S. lawmakers to avoid a continental trade war. The government said a bill introduced Thursday in the U.S. Senate falls short of what would be required to avoid tariffs on American products. Canada and Mexico are poised...

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