August 1st, 2015

Business

Special prosecutor: Texas Attorney General Ken Paxton indicted for securities fraud charges

By Jim Vertuno, The Associated Press on August 1st, 2015

AUSTIN, Texas – A special prosecutor says Texas Attorney General Ken Paxton has been indicted on felony charges accusing the Republican of misleading investors before taking office. Kent Schaffer, a Houston defence attorney appointed by a judge to the case, told The New York Times on Saturday that Collin County grand jurors indicted Paxton on ... Read More »

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Coroner’s jury rules deaths of two mill workers in Burns Lake, B.C., accidental

By The Canadian Press on July 31st, 2015

VANCOUVER – A coroner’s jury has ruled the deaths of two mill workers caught in a fiery explosion in Burns Lake, B.C., more than three years were accidental. Forty-five-year-old Robert Luggi and 42-year-old Carl Charlie were working at Babine Forest Products in the community 225 kilometres west of Prince George, when the explosion occurred Jan. ... Read More »

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Talks on huge Pacific Rim trade deal appear to hit last-minute hurdles

By The Canadian Press on July 31st, 2015

OTTAWA – Negotiations on a major international trade deal involving Canada appear to have hit last-minute snags in what were supposed to be the final stages of talks. Canadian officials are in Hawaii where a dozen countries, including the United States and Japan, have been trying to reach an agreement called the Trans-Pacific Partnership. A ... Read More »

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Province approves new gold and silver mine in northwestern B.C.

By The Canadian Press on July 31st, 2015

VANCOUVER – Construction will begin soon on a new gold and silver mine in northwestern British Columbia. The provincial government has issued a final operating permit for the Brucejack Mine, owned by Pretium (TSX:PVG) Resources Inc., after the project received an environmental assessment certificate and the necessary federal approvals. The mine, located about 65 kilometres ... Read More »

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Lower dollar could give Maple Leaf Foods a leg up on U.S. competitors: executive

By The Canadian Press on July 31st, 2015

TORONTO – Executives at Maple Leaf Foods are optimistic about the benefits a weaker Canadian dollar could have on its meats business. Chief operating officer Guy McSimmons told analysts on a conference call Friday that a weaker loonie is a “good thing over time” for the Toronto-based company because of currency exchange rates. Maple Leaf ... Read More »

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Ministers, Tory MPs pledge new cash, recycle old promises as election looms

By The Canadian Press on July 31st, 2015

OTTAWA – Federal cabinet ministers have made more than $1.4 billion in spending promises in the last two days, as the hours tick down to an expected election call. Since Thursday morning, the Conservatives have made 101 announcements offering either new infrastructure money, or spending promises recycled from the April budget. Add in 12 reminders ... Read More »

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Energy East pipeline will cost more than $12 billion, TransCanada says

By Lauren Krugel, The Canadian Press on July 31st, 2015

CALGARY – It’s looking like the Energy East project is going to get more expensive. TransCanada Corp. (TSX:TRP), the company planning to build the controversial cross-Canada oil pipeline, had been estimating it would cost $12 billion. But on Friday, it warned that figure is expected to grow. On a quarterly conference call, CEO Russ Girling ... Read More »

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Real estate giant RioCan launching a strategic review of its U.S. portfolio

By Alexandra Posadzki, The Canadian Press on July 31st, 2015

TORONTO – RioCan Real Estate Investment Trust (TSX:REI.UN) is launching a strategic review of its U.S. operations, a process that could lead to the real estate giant selling part or all of its portfolio of properties south of the border. “It’s very difficult to grow down there,” chief executive Edward Sonshine said during a conference ... Read More »

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Ottawa closes sale of Canadian Wheat Board, name changes to G3 Canada Ltd.

By The Canadian Press on July 31st, 2015

EDMONTON – The federal government has closed the book on what was once called the Canadian Wheat Board. Agriculture Minister Gerry Ritz says Ottawa has finalized the sale of the agency that marketed grain for western Canadian farmers since 1935 to G3 Global Grain Group. G3 says the board, known recently as CWB, will be ... Read More »

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Toronto stock market higher on materials stocks, Canadian dollar slips

By The Canadian Press on July 31st, 2015

TORONTO – The Toronto Stock Exchange pushed higher, helped by strength in the materials sector. The S&P/TSX composite index gained 111.16 points at 14,493.94 in late morning trading. In the U.S., the Dow Jones industrial average gained 11.33 points to 17,757.31, while the Nasdaq gained 24.75 points to 5,153.54 and the S&P 500 climbed 4.36 ... Read More »

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Vancouver’s former chief constable joins high profile private sector firm

By The Canadian Press on July 31st, 2015

VANCOUVER – Former Vancouver police chief Jim Chu has moved from crime fighting to private enterprise. Chu has joined the Aquilini Investment Group (AIG) as vice president of special projects and partnerships. An announcement from the company says he will ensure safety standards are upheld and meaningful partnerships are developed with First Nations across B.C., ... Read More »

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