Saturday, April 18th15.6°C

Son: Michigan billionaire philanthropist, shopping mall developer A. Alfred Taubman dies

Apr 18, 2015 / 7:44 am

BLOOMFIELD HILLS, Mich. - A. Alfred Taubman, the self-made Michigan billionaire whose philanthropy and business success — including weaving the enclosed shopping mall into American culture — was clouded by a criminal conviction late in his career, has died. He was 91.Taubman, who...

Philadelphia family wins back seized rare Double Eagle gold coins possibly worth $80 million

Apr 17, 2015 / 5:38 pm

PHILADELPHIA - A family was awarded the rights to 10 rare gold coins possibly worth $80 million or more on Friday after a U.S. appeals court overturned a jury verdict.U.S. Department of the Treasury officials insist the $20 Double Eagles were stolen from the U.S. Mint in Philadelphia before the...

U.S. Congress opens up free-trade debate, and Canada's paying attention

Apr 17, 2015 / 3:02 pm

WASHINGTON - The U.S. Congress has opened a critical chapter in negotiations toward a massive, 12-country free-trade deal and the Canadian government is closely following developments.The government says it's watching the debate over a so-called fast track bill that would allow negotiations to move...

Valeant senior executives scored US$123 million compensation in 2014

Apr 17, 2015 / 2:56 pm

MONTREAL - The top five executives at Valeant Pharmaceuticals shared nearly US$123 million in compensation last year, up from US$23.8 million in 2013.Chairman and CEO Michael Pearson, who owns three per cent of the company with some 10 million shares, took the lowest compensation at US$10.28...

Mylan skeptical of rumoured bid from Teva, doubts regulators would approve; both stocks climb

Apr 17, 2015 / 2:32 pm

NEW YORK, N.Y. - Generic drugmaker Mylan, citing media speculation that Teva Pharmaceutical may be eyeing it as a takeover target, says it doubts that regulators would approve such a deal and is committed to its current strategy as a stand-alone company.In a news release Friday, Mylan said that it...

North American markets close lower over worrisome news from overseas

Apr 17, 2015 / 2:26 pm

TORONTO - U.S. stock markets closed sharply lower Friday, with the Dow plunging nearly 300 points, while north of the border stronger gold prices helped the Toronto stock market keep losses in check.The S&P/TSX composite closed down 26.22 points at 15,360.55, adding to a 64-point decline Thursday....

Ottawa on track to balance books one year ahead of schedule: budget watchdog

Apr 17, 2015 / 2:20 pm

OTTAWA - The federal budget watchdog is projecting the government will post a $3.4-billion surplus in 2014-15 — which would balance the books a year ahead of schedule.The parliamentary budget office's assessment contrasts with the government's projection in its November fiscal update, which...

Lower gasoline prices hold back inflation for March as CPI rises 1.2 per cent

Apr 17, 2015 / 2:18 pm

OTTAWA - Higher prices for everything from food to electricity last month were offset in part by cheaper gasoline as the inflation rate ticked higher in March.Nonetheless, TD Bank economist Leslie Preston said the increase in inflation was unlikely to spur a change in course by Bank of Canada...

Next week's federal budget expected to court support from older Canadians

Apr 17, 2015 / 2:18 pm

OTTAWA - The Conservative government is expected to court the support of older Canadians in next week's federal budget with a number of measures aimed at demonstrating that they're making seniors a priority.A number of long-sought changes are believed to be in play, including changes to the rules...

Most actively traded companies on the TSX

Apr 17, 2015 / 1:46 pm

Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (15,360.55, down 26.22 points):Pacific Rubiales Energy Corp. (TSX:PRE). Oil and gas. Up eight cents, or 2.13 per cent, to $3.84 on 7.7 million shares. North American Palladium Ltd. (TSX:PDL). Miner....

Volkswagen board leaders back CEO Winterkorn, propose contract extension after power struggle

Apr 17, 2015 / 10:42 am

BERLIN - Volkswagen CEO Martin Winterkorn will remain in his job and can look forward to having his contract extended, the leadership of the board said Friday, after a comment by chairman Ferdinand Piech raised widespread doubts about his future.A turbulent week for Europe's biggest automaker...

'Star Wars: Battlefront' video game unleashed at fan convention

Apr 17, 2015 / 10:40 am

ANAHEIM, Calif. - The Force isn't merely awakening on the big screen. It's also returning to the video game realm."Star Wars: Battlefront" publisher Electronic Arts and Swedish developer DICE showcased their next-generation rendition of the "Star Wars" multiplayer shooter Friday at Star Wars...

As Verizon FiOS introduces more choice for TV customers, a look at options for Internet video

Apr 17, 2015 / 10:28 am

How other providers stack up against Verizon's new FiOS Custom TVAMAZONMonthly price: $8.25 (only through $99-a-year Amazon Prime subscription)Live offering: NoneOn demand: Apart from original shows such as "Transparent," offerings tend to be past seasons, plus movies. Next-day access to shows for...

Rogers Media president Keith Pelley stepping down from post this summer

Apr 17, 2015 / 10:20 am

TORONTO - Rogers Media president Keith Pelley is stepping down this summer to become the new commissioner and CEO of the European Tour golf circuit.Rogers Communications (TSX:RCI.B) said Friday the exact date of his departure will be announced later.A former CTV and TSN executive, Pelley has been...

Gauge of US economy increases just 0.2 per cent in March, sign of weaker growth

Apr 17, 2015 / 8:38 am

WASHINGTON - An index designed to predict the future health of the economy slowly crept upward for the third straight month, a sign that the pace of growth has been weakening since the start of 2015.The New York-based Conference Board said Friday that its index of leading indicators rose 0.2 per...

Google to favour mobile

Apr 17, 2015 / 6:21 am

Google is about to change the way its influential search engine recommends websites on smartphones and tablets in a shift that's expected to sway where millions of people shop, eat and find information. The revised formula, scheduled to be released Tuesday, will favour websites that Google...

March increase in gas costs fuel a 0.2 per cent rise in US consumer prices

Apr 17, 2015 / 6:10 am

WASHINGTON - Rising gas prices in March led to a slight increase in inflation, a sign that some of the broader economic impact from cheaper oil is fading.The consumer price index rose 0.2 per cent in March, the Labor Department said Friday. Inflation moved at that same pace in February, which ended...

Retail sales post 1.7 per cent gain in February, Statistics Canada says

Apr 17, 2015 / 5:46 am

OTTAWA - Retail sales in Canada posted a gain of 1.7 per cent in February following two consecutive monthly declines.Statistics Canada says retail sales climbed to $42.2 billion as all 11 retail subsectors posted gains.Economists had expected a gain of 0.5 per cent for the month, according to...

Bell faces $750M lawsuit over tracking of cellphone customer Internet usage

Apr 17, 2015 / 5:38 am

WINDSOR, Ont. - A national class-action lawsuit has been filed against Bell Canada over alleged breaches of privacy arising from its recently discontinued target ads program.The suit against subsidiaries of Bell (TSX:BCE) alleges that the defendants used the program to track, collect and sell the...

Home price gains in Toronto, Vancouver spilling over to nearby regions

Apr 17, 2015 / 5:36 am

TORONTO - Realtor group Re/Max says home prices soared in Toronto and Vancouver in the first quarter with some of the effects spilling over into nearby regions.The average sale price of a home in Vancouver grew seven per cent year over year to $874,869, a figure that includes everything from condos...

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