January 23rd, 2017

Business

Sprint is buying a 33 per cent stake in Tidal

By The Associated Press on January 23rd, 2017

NEW YORK – Sprint is buying a 33 per cent stake of the Tidal, the music streaming service owned by artists like Jay-Z, Madonna and Kanye West. Financial terms were not disclosed. Tidal has a more than 42.5 million song catalogue and 140,000 videos. It’s available in more than 52 countries. The partnership will include ... Read More »

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Lawsuit: Trump businesses violate Constitution

By Bernard Condon And Mae Anderson, The Associated Press on January 23rd, 2017

NEW YORK – A legal watchdog group will file a lawsuit Monday alleging that President Donald Trump is violating the Constitution by allowing his businesses to accept payments from foreign governments. Trump is violating the so-called emoluments clause in the Constitution that prohibits him from receiving money from diplomats for stays at his hotels or ... Read More »

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Statistics Canada says wholesale sales gained 0.2 per cent in November

By The Canadian Press on January 23rd, 2017

OTTAWA – Wholesale sales gained 0.2 per cent in November to total $56.9 billion. Statistics Canada says it was the second consecutive monthly increase. However, economists had expected a gain of 0.5 per cent for the month, according to Thomson Reuters. Sales rose in four of the seven subsectors in November as the miscellaneous subsector ... Read More »

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Brookfield moves to simplify structure of its North American property arm

By The Canadian Press on January 23rd, 2017

TORONTO – The largest shareholder of Brookfield Canada Office Properties (TSX:BOX.UN) is offering to buy the rest of the real estate trust’s equity for $30.10 cash per unit, a 14.8 per cent premium to Friday’s closing price in Toronto. Brookfield Property Partners LP (TSX:BPY.UN) says its purchase of the remaining BOX units would simplify BPY’s ... Read More »

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Heavy fog causes flight delays, cancellations in London

By The Associated Press on January 23rd, 2017

LONDON – Thick fog has caused numerous flight delays and cancellations at London Heathrow and other area airports. Travellers were advised Monday to check their flight status before going to the airport after roughly 100 flights were cancelled and many more were delayed. The Met Office forecasting service said visibility at Heathrow had been reduced ... Read More »

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Star Chinese stock trader jailed for manipulating prices

By The Associated Press on January 23rd, 2017

BEIJING – A Chinese court says a celebrity stock trader who was arrested after a market collapse in 2015 has been sentenced to 5 1/2 years in prison for manipulating share prices and insider trading. Xu Xiang and two co-defendants were sentenced Monday by a court in the eastern city of Qingdao. They pleaded guilty ... Read More »

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Samsung: Batteries only problem with fire-prone Note 7s

By Youkyung Lee, The Associated Press on January 22nd, 2017

SEOUL, Korea, Republic Of – Samsung Electronics said Monday that after testing more than 200,000 Galaxy Note 7 smartphones, it found defects in two sets of batteries from two different manufacturers made the devices prone to catch fire. Samsung’s mobile division president, Koh Dong-jin, ruled out any problems with other aspects of the Note 7, ... Read More »

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Union asks PM to reject advice to relax anti-dumping duties on cheap US drywall

By The Canadian Press on January 22nd, 2017

CALGARY – A union that represents workers in Canadian drywall factories is telling the prime minister a decision that could help the construction business might cost its members their jobs. The International Brotherhood of Boilermakers have written Justin Trudeau asking that cabinet reject a trade tribunal’s recommendation to relax anti-dumping duties that were imposed on ... Read More »

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Samsung: Note 7 battery design, manufacturing caused fires

By The Associated Press on January 22nd, 2017

SEOUL, Korea, Republic Of – Samsung Electronics Co. says problems with the design and manufacturing of batteries in its Galaxy Note 7 smartphones caused them to overheat and burst into fire. The announcement Monday of the company’s investigation into one of its worst product fiascos comes three months after the flagship phone was discontinued. The ... Read More »

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Shyamalan’s ‘Split’ divides competition to rule box office

By Jake Coyle, The Associated Press on January 22nd, 2017

NEW YORK – M. Night Shyamalan’s psychological thriller “Split” blew away box-office expectations, earning an estimated $40.2 million in ticket sales over inauguration weekend. Though many were focused on Friday’s presidential inauguration and Saturday’s nationwide women’s marches, “Split” doubled forecasts to easily lead all films. The Universal Pictures release again brings together Shyamalan, director of ... Read More »

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OPEC, allies says production cuts ahead of schedule

By The Associated Press on January 22nd, 2017

VIENNA – OPEC and key non-OPEC oil producers seeking to push up the price of crude by cutting production say participants appear to be exceeding pledges to reduce output. Russia and 10 other nations outside OPEC agreed with the 13 members of the Organization of the Petroleum Exporting Countries in December to take a total ... Read More »

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