August 18th, 2018

Business

Italy’s leader demands safe roads; bridge toll rises to 42

By Frances D'Emilio And Paolo Santalucia, The Associated Press on August 18th, 2018

GENOA, Italy – Italy’s president demanded guarantees Saturday that all the nation’s roads are safe following the Genoa highway bridge collapse, after he hugged and comforted mourners at a state funeral for many of the dead in the grieving port city. Hours earlier, the toll from Tuesday’s bridge collapse rose unofficially to 42 with the ... Read More »

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Italian leader demands safe roads; bridge toll rises to 42

By Frances D'Emilio And Paolo Santalucia, The Associated Press on August 18th, 2018

GENOA, Italy – Italy’s president demanded guarantees Saturday that all the nation’s roads are safe following the Genoa highway bridge collapse, after he comforted mourners at a state funeral for many of the dead in the grieving port city. Hours earlier, the toll from Tuesday’s bridge collapse rose unofficially to 42, with the reported discovery ... Read More »

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Canada’s biggest airline seeks finance ministry approval to form insurance firm

By The Canadian Press on August 17th, 2018

MONTREAL – Air Canada is seeking finance ministry approval to form its own life insurance company as a gateway to the annuities market and a hedge against looming pension payouts. A spokesperson says the airline aims to shore up pension risks by buying annuities from Canadian insurers and reinsuring the fixed payments through an insurance ... Read More »

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B.C. resource and tourism industries braced as wildfires rip through forests

By The Canadian Press on August 17th, 2018

The tourists are still filling golf courses and shops in Kimberley, B.C., but the smoke-filled city’s unique SunMine solar power project is operating at less than half of capacity as an evacuation alert remained in place Friday as a nearby forest fire raged. Scott Sommerville, chief administrative officer at Kimberley, says the city’s decision late ... Read More »

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Stocks in Toronto close higher, inflation report helps boost Canadian dollar

By The Canadian Press on August 17th, 2018

TORONTO – Canada’s main stock index closed higher in broad-based gains, while the loonie climbed higher after a stronger-than-expected reading of inflation. The S&P/TSX composite index closed up 98.06 points at 16,323.71 as materials stocks rebounded from heavy losses earlier this week. In New York, the Dow Jones industrial average closed up 110.59 points at ... Read More »

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Quebec announces plan to compensate taxi drivers after Uber’s arrival

By The Canadian Press on August 17th, 2018

MONTREAL – The Quebec government has outlined how it intends to compensate taxi drivers who’ve seen the value of their permits plummet since the arrival of ride-hailing service Uber in the province. It says it will dole out cheques ranging from $1,000 to $46,700 per permit, depending on the region where the driver operates. In ... Read More »

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Canopy Growth, Constellation $5-billion deal to be reviewed by federal government

By The Canadian Press on August 17th, 2018

OTTAWA – The federal government says it will review Constellation Brand Inc.’s proposed $5 billion investment in Canopy Growth Corp. The alcohol giant announced earlier this month it would invest in the Smiths Falls, Ont.-based marijuana producer, giving it a 38 per cent stake in the company. The department of Innovation, Science and Economic Development ... Read More »

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Banff’s Sunshine ski resort upset with proposed guidelines from Parks Canada

By The Canadian Press on August 17th, 2018

BANFF, Alta. – An internationally known ski resort in Banff National Park says a plan proposed by Parks Canada could hinder its future success. The proposed site guidelines for Sunshine Village released this summer provide a framework for future use, growth and development at the resort until 2060. “Sunshine is the last ski area in ... Read More »

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Canada’s tax system unfairly favours wealthy, poll of CRA auditors suggests

By The Canadian Press on August 17th, 2018

OTTAWA – A recent union-sponsored survey suggests an overwhelming majority of federal government auditors believe Canada’s tax system unfairly favours the wealthy over average Canadians. The poll, conducted by the Professional Institute of the Public Service of Canada, found nine out of 10 auditors and other tax professionals surveyed agreed that corporations and wealthy Canadians ... Read More »

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Higher fuel, labour costs push airfare skyward, boosting rise in inflation

By Christopher Reynolds, The Canadian Press on August 17th, 2018

MONTREAL – Rising fuel costs drove a 28 per cent year-over-year rise in the price of airfare and helped push inflation to its highest level since 2011. The leap in airfares – which moved in rough alignment with a 25-per-cent increase in the price of gasoline – tacked on 0.3 percentage points to overall price ... Read More »

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Forestry industry pushes back on Trump blaming fires on Canadian lumber imports

By The Canadian Press on August 17th, 2018

Canada’s forestry industry is pushing back against comments by U.S. President Trump that lumber imports are partially to blame for intense forest fires in California. Trump made the comments at a cabinet meeting Thursday where he also complained about high lumber prices for Canadian wood products. Forest Products Association of Canada CEO Derek Nighbor says ... Read More »

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