Thursday, November 20th4.9°C

Consumers to pay $3.3 billion in deal to divide costs from closed San Onofre nuclear plant

Nov 20, 2014 / 12:26 pm

LOS ANGELES, Calif. - Consumers will get refunds and credits of about $1.4 billion, but also pay about $3.3 billion, under a settlement approved Thursday on costs stemming from the premature closure of the San Onofre nuclear power plant.The vote by the California Public Utilities Commission was...

Success of 'Property Brothers' a lesson learned as Corus develops reality slate

Nov 20, 2014 / 12:20 pm

TORONTO - Hit reality shows like "Property Brothers" have convinced Corus Entertainment (TSX:CJR.B) to invest more in producing TV series that it owns.Chief operating officer Doug Murphy told the audience at an investor day on Thursday that new video-on-demand services are driving an unprecedented...

Wholesale sales up 1.8 per cent to $54.0 billion in September: StatCan

Nov 20, 2014 / 12:00 pm

OTTAWA - Wholesale sales in Canada grew to $54 billion in September, up 1.8 per cent from August and easily topping the expectations of economists.Statistics Canada said Thursday that the better than expected performance was led by the building material and supplies subsector.Economists had...

PG&E fined $1M, required to pay as much as $400M for backroom talks with California regulators

Nov 20, 2014 / 11:44 am

SAN FRANCISCO - State regulators have decided to fine Pacific Gas & Electric Co. $1 million and require its shareholders to cover as much as $400 million of a gas rate increase because of backroom negotiations between the utility and regulators.The California Public Utilities Commission voted...

Golds, energy stocks support TSX amid fresh dose of glum data from China, Europe

Nov 20, 2014 / 11:44 am

TORONTO - Resource stocks gave the Toronto stock market a solid advance Thursday amid data showing business activity declining in China and Europe and another report indicating the U.S. continues to be the major prop for the global economy.The S&P/TSX composite index was ahead 63.94 points to...

Gauge of US economy posts healthy 0.9 per cent rise in October, best showing since July

Nov 20, 2014 / 11:14 am

WASHINGTON - An index designed to predict the future health of the economy rose in October at the fastest pace in three months.The Conference Board said Thursday that its index of leading indicators increased 0.9 per cent last month following a 0.7 per cent rise in September, which had been...

US existing home sales climb 1.5 per cent in October to fastest sales pace in 2014

Nov 20, 2014 / 11:10 am

WASHINGTON - Americans bought homes in October at the briskest pace this year, a sign that the sluggish housing market is turning around.Sales of existing homes rose 1.5 per cent to a seasonally adjusted annual rate of 5.26 million last month, the National Association of Realtors said Thursday....

Manufacturing grows at strongest pace in nearly 21 years in Philadelphia region

Nov 20, 2014 / 11:06 am

WASHINGTON - Manufacturing in the Philadelphia region grew at the fastest pace in nearly 21 years, a sign that factory output may be picking up nationwide.The Federal Reserve Bank of Philadelphia says its index of regional factory activity jumped to 40.8 in November from 20.7 in October. That is...

US consumer prices unchanged in October as gasoline pump prices fall for fourth month

Nov 20, 2014 / 11:04 am

WASHINGTON - U.S. consumer prices were unchanged in October as a fourth straight decline in gasoline costs helped to keep inflation at bay.The steady reading for inflation last month followed a tiny 0.1 per cent increase in September and a 0.2 per cent drop in August, the Labor Department said...

Oilsands firms not at fault in deaths of 196 waterfowl in northeast Alberta

Nov 20, 2014 / 10:40 am

CALGARY - The Alberta Energy Regulator says three oilsands corporations did nothing wrong when 196 birds died after landing in wastewater tailings ponds earlier this month.The regulator says Canadian Natural Resources Limited (TSX:CNQ), Suncor Energy Inc. (TSX:SU) and Syncrude followed the rules...

Canadian investors can still get currency bounce from investing in U.S.

Nov 20, 2014 / 9:56 am

MONTREAL - Canadian investors who have yet to diversify into the U.S. market still have time, according to investment specialists who predict a further decline in the value of the loonie against the American greenback.Although the Canadian dollar has lost almost 12 per cent of its value against its...

Rogers heart research centre created with $239M in funding from family, hospitals

Nov 20, 2014 / 9:52 am

TORONTO - The family of late media mogul Ted Rogers has donated $130 million to help fund a Toronto-based medical research centre in his name.The Ted Rogers Centre for Heart Research is also being supported with $139 million from three participating institutions — the Hospital for Sick...

Condos made up more than a third of Canadian housing starts last year, CMHC

Nov 20, 2014 / 9:48 am

OTTAWA - Condominiums accounted for more than one-third of all Canadian housing starts last year, and more than half of the total in several of the country's biggest cities, the Canada Mortgage and Housing Corp. says.The federal agency says condominium apartment starts represented less than one in...

Nike nixes nameless tribute sneaker with No. 3, 76ers colours after Iverson demands answers

Nov 20, 2014 / 9:42 am

PHILADELPHIA - Nike is pulling back on plans for a shoe that sneakily honours Allen Iverson after the former NBA superstar questioned whether the company could use his old number and team colours while he's endorsed by rival Reebok.Iverson says Nike used his identity, likeness and persona without...

Tim Hortons prices on the rise

Nov 20, 2014 / 9:00 am

Your morning stop at Tim Hortons is about to get a bit more expensive. The restaurant chain says it plans to raise prices for both coffee and breakfast sandwiches at its Canadian locations starting next Wednesday. A cup of coffee will go up by 10 cents, on average, though the change will vary...

Saskatchewan premier on trade mission touts potash deals with Indian companies

Nov 20, 2014 / 8:48 am

REGINA - Saskatchewan's premier is heralding two new agreements that will see increased potash exports to India.Brad Wall, who is on a week-long trade mission, witnessed separate deals between the off-shore marketing arm of Saskatchewan potash producers, Canpotex, and Coromandel International Ltd....

GM Canada names Stephen Carlisle president, Kevin Williams to retire

Nov 20, 2014 / 6:50 am

OSHAWA, Ont. - General Motors of Canada Ltd. named Stephen Carlisle as its new president and managing director on Thursday. Carlisle replaces Kevin Williams, who will retire from the automaker at the end of the year. Williams has led GM's Canadian operations since 2010. Carlisle was...

Applications for US jobless aid slip; fewest Americans receiving benefits in 14 years

Nov 20, 2014 / 5:58 am

WASHINGTON - The number of people applying for U.S. unemployment benefits declined slightly last week, suggesting that job gains should remain solid.Weekly applications for jobless aid fell 2,000 to a seasonally adjusted 291,000, the Labor Department said Thursday. The four-week average, a less...

How the U.S. Senate got its famous filibuster rule that frustrated Keystone

Nov 20, 2014 / 5:54 am

WASHINGTON - Proponents of Canada's Keystone XL pipeline might be scratching their heads raw this week wondering how they got 59 per cent support in a U.S. congressional vote and still didn't get a pipeline law.If it's any consolation, their pet legislative cause is now added to the abundant annals...

Bell Media announces 80 job cuts; cites 'challenging advertising market'

Nov 20, 2014 / 5:52 am

TORONTO - Bell Media has cut 80 full-time positions in its latest round of layoffs, citing an "industry-wide challenging advertising market." The multimedia giant said Wednesday that the affected positions represent a cross-section of its areas of business: including local radio and...

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