Wednesday, May 27th26.5°C

Tory shift on CPP forces Liberals to explain position on key election issue

May 27, 2015 / 3:58 pm

OTTAWA - The federal Liberals want a mandatory expansion of the Canada Pension Plan, Justin Trudeau said Wednesday as the Harper government's abrupt pivot towards a voluntary increase in contributions continued to reverberate.The Conservatives, long opposed to expanding the plan, made a 180-degree...

Tracy Morgan, Wal-Mart settle lawsuit over highway crash that injured him, killed his friend

May 27, 2015 / 3:52 pm

NEWARK, N.J. - Actor-comedian Tracy Morgan has settled his lawsuit against Wal-Mart over a highway crash that killed one man and left Morgan and two friends seriously injured.A filing in federal court in Newark on Wednesday referred to a confidential settlement reached by the two sides.Morgan's...

Business Highlights

May 27, 2015 / 3:10 pm

___Love not war wins for small businesses and large companiesNEW YORK (AP) — Imagine a world where David and Goliath are best buds. Well it's becoming reality more frequently in the business world.Boston Beer Co., maker of Sam Adams, mentors and lends money to small craft brewers. It hopes...

Nuke gear sold for pennies

May 27, 2015 / 3:10 pm

Quebec's hydro utility was criticized Wednesday for selling new and unused nuclear power equipment acquired in 2011 for $79 million as scrap metal for a paltry $75,000. The 2015-16 report of Quebec Auditor General Guylaine Leclerc stated Hydro-Quebec performed a "weak assessment"...

Independent panel key to reforming military procurement, Kenney tells industry

May 27, 2015 / 2:50 pm

OTTAWA - Defence Minister Jason Kenney pledged Tuesday that a new independent panel would reform the military's dysfunctional procurement system.Kenney said the announcement of the panel's members will be made very soon and he said it will mark a major shift in how the Canadian Forces makes massive...

CNRL flags uncertainty over royalties, taxes with new NDP government in Alberta

May 27, 2015 / 2:46 pm

CALGARY - One of Canada's biggest oil and gas producers said Wednesday it can't make future spending decisions until it gets a better handle on the new Alberta government's plans for royalties, taxes and environmental regulation.But NDP Premier Rachel Notley said, if anything, the province's lack...

Call to stop fossil fuel investments gains traction abroad but not yet in Canada

May 27, 2015 / 2:46 pm

CALGARY - Scott Vrooman says he wants Dalhousie University and Queen's University to stop investing in fossil fuel companies so much that he's willing to tear up his degrees from the institutions if they don't change their policies.The writer and comedian made the promise last week to pressure the...

Pranksters can crash iPhones by sending a certain text message

May 27, 2015 / 2:46 pm

A newly-discovered glitch in Apple's software can cause iPhones to mysteriously shut down when they receive a certain text message.Apple says it's aware of the problem and is working on a fix. But some pranksters are sharing information about the glitch on social media and using it to crash other...

Controversial seismic testing off Baffin Island cancelled for summer

May 27, 2015 / 2:44 pm

A remote Arctic community is declaring victory after a consortium of energy companies cancelled controversial plans for seismic testing off Baffin Island this summer."I'm very happy about it," said Jerry Natanine, mayor of Clyde River, a hamlet along the island's east coast that strongly opposed...

Peladeau accuses Liberals of harassment with remark about cable company he owns

May 27, 2015 / 2:42 pm

QUEBEC - Parti Quebecois Leader Pierre Karl Peladeau accused the Liberals of harassment and intimidation on Wednesday for alluding to the interest rates his cable company charges tardy customers.The debate was triggered by PQ energy critic Bernard Drainville's comment in the national assembly that...

Office Depot to pay $3.4 million to settle charges over faulty chairs

May 27, 2015 / 2:28 pm

NEW YORK, N.Y. - Office Depot will pay regulators $3.4 million to settle charges that it did not report defects of two of its office chair models fast enough, even after receiving more than 200 complaints.The U.S. Consumer Product Safety Commission said the seatbacks of some of the chairs fell off,...

BMO's second quarter profit slides as consumer loan growth continues to slow

May 27, 2015 / 2:20 pm

TORONTO - Bank of Montreal (TSX:BMO) saw its second-quarter profit fall compared with a year ago as it grappled with slowing consumer loan growth and pulled back a little from the auto loan business.Canadian consumers are already stretched thin and have been hesitant to take on more debt, while...

Most actively traded companies on the TSX

May 27, 2015 / 2:04 pm

Some of the most active companies traded Wednesday on the Toronto Stock Exchange:Toronto Stock Exchange (15,110.47, up 59.66 points):Carpathian Gold Inc. (TSX:CPN). Miner. Up one cent, or 200 per cent, to 1.5 cents on 25.4 million shares.Legacy Oil + Gas Inc. (TSX:LEG). Oil and gas. Down 25 cents,...

US stock indexes regain some ground a day after the worst slump for the market in three weeks

May 27, 2015 / 1:16 pm

NEW YORK, N.Y. - The U.S. stock market is regaining some of the ground it lost the day before, when the market had its biggest slump in three weeks.Technology and health care stocks led the gains Wednesday. Microsoft, Apple and Intel had the biggest gains in the Dow Jones industrial average.The Dow...

Rogers and Shaw's streaming service Shomi to launch across Canada this summer

May 27, 2015 / 12:46 pm

TORONTO - Shomi is getting ready to turn up the heat on Netflix and Bell Media's CraveTV by opening up the streaming service to all Canadians.When Shomi first launched in November, it was only available to TV and Internet customers of Rogers Communications (TSX:RCI.B) and Shaw Communications...

TV networks face steep competition for viewers as they launch new shows

May 27, 2015 / 12:20 pm

TORONTO - Don't adjust your set: some of the TV shows slated to premiere this fall and winter may seem like reruns, but they're actually new.When the big U.S. networks recently revealed their new crop of shows, they included reboots of past hits including Fox's "The X-Files," NBC's "Coach" and...

Suge Knight, citing illness, refuses to leave jail cell for hearing in camera robbery case

May 27, 2015 / 12:18 pm

LOS ANGELES, Calif. - A judge stopped short of ordering Marion "Suge" Knight forcibly removed from his jail cell Wednesday after the rap music mogul said he was sick and refused to go to court for a hearing in his robbery case.Los Angeles Superior Court Ronald S. Coen said Knight told deputies he...

Following arrest of 7 FIFA officials, sponsors of world soccer body urged to press for change

May 27, 2015 / 11:58 am

LONDON - FIFA's sponsorship paymasters are facing mounting calls to put pressure on soccer's global governing body to clean up its act — and fast — following Wednesday's arrest of seven officials.Companies like Coca-Cola, Visa and Adidas have in recent months shown a growing...

Ontario hazelnut growers look to pick up slack from blight-stricken B.C.

May 27, 2015 / 11:24 am

TORONTO - Ontario farmers are stepping in to feed Canadians' appetite for hazelnuts as the industry deals with a worldwide shortage, sky-high prices and the spread of nut-killing blight in British Columbia.The Ontario Hazelnut Association says Ontario farmers will harvest more than 240 hectares of...

Alberta finance minister says taking over his portfolio has been nerve-racking

May 27, 2015 / 10:12 am

CALGARY - Alberta's new finance minister admits he's got a case of the nerves as he takes over a challenging portfolio during an economic downturn in the oilpatch."I kind of feel a little bit of the weight of the work and the promises we made, the economic situation and all of that is...

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