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Business News Dec 4 to 10, 2016

OPEC tries to raise oil prices

OPEC tries to raise oil prices

Dec 10, 2016 / 10:34 am

OPEC has persuaded 11 non-member countries to cut their oil production in an attempt to raise low prices that have put pressure on government finances in...

Sears gambles on groceries

Sears gambles on groceries

Dec 9, 2016 / 2:06 pm

Sears Canada, which has been struggling with store closures and sagging sales, said Friday it will venture into the grocery business in an effort to lure...

Continuing to set records

Continuing to set records

Dec 9, 2016 / 10:04 am

U.S. stocks are rising Friday as major indexes continue to set records. Some of the largest gains are going to industries that have been left out of the...

Sears sees third-quarter loss

Sears sees third-quarter loss

Dec 9, 2016 / 9:59 am

Sears Canada said Friday it saw its third-quarter loss more than double to $120.0 million from $53.2 million during the same period last year as revenue...

Drilling rights sales down

Drilling rights sales down

Alberta Dec 9, 2016 / 9:54 am

Sales of Crown drilling rights in Alberta have fallen to their lowest levels in 39 years. Statistics posted on the Alberta Energy website this week, following...

Coca-Cola names next CEO

Coca-Cola names next CEO

Dec 9, 2016 / 8:55 am

Coca-Cola CEO Muhtar Kent will step down from that role next year and be succeeded by the company's No. 2 executive, Chief Operating Officer James Quincey,...

Crude tops $50 a barrel

Crude tops $50 a barrel

Dec 8, 2016 / 3:48 pm

Major stock markets in New York closed at record highs Thursday amid a broad rally from banks, materials and technology companies. The Dow Jones industrial...

BlackBerry Secure

BlackBerry Secure

Dec 8, 2016 / 2:01 pm

BlackBerry revealed its latest security offering on Thursday intended to help companies reliably manage their current and future connectivity needs. The...

More market all-time highs

More market all-time highs

Dec 8, 2016 / 11:58 am

After a quiet start, major U.S. stock indexes set more all-time highs Thursday afternoon as the market built on a surge the previous day. Banks and basic...

Cenovus to boost spending

Cenovus to boost spending

Dec 8, 2016 / 6:34 am

Cenovus Energy says it is planning to boost its 2017 capital spending by 24 per cent and resume work on the expansion of its Christina Lake oilsands project in...

Crackdown on ticket bots

Crackdown on ticket bots

Dec 8, 2016 / 6:15 am

The U.S. Congress has sent legislation to President Barack Obama that could make it easier to get tickets to popular shows, sports events and concerts....

Legal fight over VW scandal

Legal fight over VW scandal

Dec 8, 2016 / 6:06 am

The European Union is starting legal action against Britain, Germany, Spain and Luxembourg for not imposing penalties against Volkswagen for using illegal...

Alberta: worst is over

Alberta: worst is over

Dec 7, 2016 / 10:28 pm

Alberta Finance Minister Joe Ceci met with key economists Wednesday to look ahead to 2017, with the consensus being the worst is over for the provincial...

Key rate stays  at 0.5%

Key rate stays at 0.5%

Dec 7, 2016 / 11:55 am

The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face "undiminished"...

$655M pipeline to proceed

$655M pipeline to proceed

TransCanada Corp Dec 7, 2016 / 10:51 am

TransCanada Corp. says it's moving ahead with a $655-million expansion of its Nova Gas Transmission Ltd. system in northwestern Alberta. The company...

Takeover vote delayed

Takeover vote delayed

PrivateBancorp Dec 7, 2016 / 10:35 am

PrivateBancorp Inc. has delayed a shareholder vote on a proposed takeover of the company by Canadian Imperial Bank of Commerce (TSX:CM) that was set for...

Dollarama reports sales up

Dollarama reports sales up

Dec 7, 2016 / 10:28 am

Dollarama Inc. (TSX:DOL) saw its third-quarter profit grow to nearly $110.1 million compared with nearly $100.1 million in the same quarter a year ago. The...

Sued over Hydro One sale

Sued over Hydro One sale

Dec 7, 2016 / 8:24 am

The Canadian Union of Public Employees says its lawsuit against the Ontario premier and two cabinet ministers over the sale of Hydro One is finally headed to...

Delinquency rate on rise

Delinquency rate on rise

Dec 7, 2016 / 6:51 am

A new Equifax Canada report says low interest rates and falling oil prices drove up consumer debt and delinquency rates in the third quarter. The credit...

Mine hiding mercury levels?

Mine hiding mercury levels?

Dec 6, 2016 / 3:57 pm

An environmental group is accusing a diamond mining company of failing to report mercury levels at a mine in Northern Ontario, a claim the company has swiftly...

Alaska to buy Virgin air

Alaska to buy Virgin air

Dec 6, 2016 / 2:13 pm

Alaska Airlines has won government approval to buy rival Virgin America after agreeing to reduce its flight-selling partnership with American Airlines. Parent...

Do as I say, not as I do

Do as I say, not as I do

Survey says Dec 6, 2016 / 11:03 am

Parents spend more than nine hours a day with TVs, computers and other screen devices while also giving themselves high marks as role models for their...

Transcontinental to cut costs

Transcontinental to cut costs

Dec 6, 2016 / 10:23 am

Transcontinental says it will continue to cut costs and accelerate its shift to digital publications next year to offset declining advertising and newspaper...

Air Force 1 plan grounded?

Air Force 1 plan grounded?

Dec 6, 2016 / 9:27 am

The government should cancel its multibillion-dollar order for new Air Force One presidential planes, Donald Trump declared Tuesday, serving notice he's...

Markets unchanged

Markets unchanged

Toronto Dec 6, 2016 / 8:40 am

North American stock markets were little changed in late morning trading as the price of oil took a step back. The S&P/TSX composite index gained 4.90...

BMO profits surge

BMO profits surge

Dec 6, 2016 / 6:13 am

Bank of Montreal raised its dividend Tuesday as it reported a fourth-quarter profit of $1.35 billion, up a 11 per cent from a year ago. The bank increased its...

Free speech vs. copyright

Free speech vs. copyright

Dec 6, 2016 / 6:01 am

A legal fight between Internet giant Google and a British Columbia technology company unfolds today in the Supreme Court of Canada, where they will duel over...

Samsung heir grilled

Samsung heir grilled

South Korea Dec 6, 2016 / 5:59 am

It was a rare moment of public reckoning for South Korea's most powerful business leaders and possibly the worst day for Samsung's billionaire heir,...

Notley's tough sell

Notley's tough sell

Dec 5, 2016 / 9:15 pm

Some observers say Alberta's premier will have a difficult job trying to convince British Columbians to support the Trans Mountain pipeline project between...

Suncor avoids $1.3B tax bill

Suncor avoids $1.3B tax bill

Dec 5, 2016 / 5:31 pm

Suncor Energy says it has successfully defended its accounting practices and avoided a $1.3-billion tax bill sought by the Canada Revenue Agency. The...

Refinery news welcomed

Refinery news welcomed

Dec 5, 2016 / 5:28 pm

Dominion Energy Processing Group has announced plans to build a 40,000 barrel a day refinery complex in southeast Saskatchewan. The company, a subsidiary of...

Shopping, checkout free

Shopping, checkout free

Seattle Dec 5, 2016 / 11:51 am

Amazon is testing a grocery store model in Seattle that works without checkout lines. Called Amazon Go, shoppers scan their Amazon app when they enter the...

Work sucks for young

Work sucks for young

Dec 5, 2016 / 11:41 am

A new study from Statistics Canada says young people have seen their job quality decline over the last four decades, even as the unemployment rate has remained...

Bombardier wins Paris deal

Bombardier wins Paris deal

Dec 5, 2016 / 11:14 am

Bombardier Transportation (TSX:BBD.B) says it has won a US$370-million contract from French national railway SNCF to supply 52 more commuter trains for the...

Dow hits another record

Dow hits another record

Dec 5, 2016 / 11:12 am

U.S. stocks are resuming their climb Monday, led by gains in energy companies and banks, sending the Dow Jones industrial average to another record high....

Second Cup signs $8M loan

Second Cup signs $8M loan

Dec 5, 2016 / 11:01 am

The Second Cup Ltd. (TSX:SCU) has signed a deal for a four-year, $8-million secured term loan from an affiliate of Serruya Private Equity following a review of...

Energy East 'still needed'

Energy East 'still needed'

Dec 5, 2016 / 6:45 am

New Brunswick's premier says there's still a strong need for the proposed Energy East pipeline despite the federal government's approval of two...

Softwood duties would sting

Softwood duties would sting

Dec 5, 2016 / 5:50 am

The imposition of import tariffs on Canadian softwood lumber will place a heavy burden on consumers and U.S. workers, a leading American voice for free trade...

What to watch for in biz

What to watch for in biz

Dec 4, 2016 / 7:55 am

Five things to watch this week in Canadian business: Pipe Dreams: There are expectations that a pipeline charm offensive in British Columbia could heat up this...

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