January 18th, 2020

Business

Trudeau, ministers head to Winnipeg for cabinet retreat, western outreach

By Joan Bryden, The Canadian Press on January 18th, 2020

OTTAWA – Prime Minister Justin Trudeau is reviving his practice of holding periodic cabinet retreats outside the nation’s capital – an exercise in regional outreach that his office maintains is worth the added cost of ferrying ministers around the country. Beginning Sunday, he and his 36 ministers will be holed up in Winnipeg for three ... Read More »

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Alberta court approves Encana reorganization, paving way for change next week

By The Canadian Press on January 17th, 2020

CALGARY – Encana Corp. says an Alberta court has approved the oil and gas company’s reorganization that will see it move its headquarters to Denver from Calgary and change its name to Ovintiv Inc. The decision by the Court of Queen’s Bench of Alberta follows Tuesday’s vote that saw 90 per cent of shareholders approve ... Read More »

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Fiat Chrysler in talks with Foxconn to develop electric cars

By The Associated Press on January 17th, 2020

MILAN – Fiat Chrysler is in talks with the Taiwanese company Foxconn to develop and manufacture battery-powered vehicles, the U.S.-Italian automaker said Friday. Fiat Chrysler is in the process of merging with France’s PSA Peugeot, which is 12% owned by Chinese company Dongfeng Motor Co. Both Fiat Chrysler and Peugeot have lagged in developing electric ... Read More »

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JetBlue ups fee by $5 to $35 for checking a bag on a flight

By The Associated Press on January 17th, 2020

NEW YORK – JetBlue Airways is raising fees for checking bags again by $5 – to $35 for the first one and $40 for the second – on flights within the United States. Passengers can avoid the increase if they pay for up to two bags at least 24 hours before their flight. JetBlue spokesman ... Read More »

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Toyota shifting pickup production to Mexico, no US jobs lost

By The Associated Press on January 17th, 2020

PRINCETON, Ind. – Toyota will stop making its Tacoma small pickup in San Antonio next year as it shifts production to Mexico, but the company says no U.S. jobs will be lost. To make up for the lost work, the San Antonio plant will build the Sequoia large SUV, and its 3,200 jobs will be ... Read More »

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BMW recalls about 357K vehicles for Takata air bag inflators

By The Associated Press on January 17th, 2020

DETROIT – BMW is recalling nearly 357,000 older vehicles in the U.S. to replace dangerous Takata front air bag inflators. The inflators are among 10 million sold to 14 automakers that Takata is recalling. It’s the last recall that the bankrupt Takata agreed to in a 2015 settlement with U.S. safety regulators. The U.S. government ... Read More »

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Boeing is working on a new software issue on the 737 Max

By David Koenig, The Associated Press on January 17th, 2020

Boeing is working to fix a newly discovered problem with software powering up on the 737 Max, adding to the list of tasks the aircraft maker faces to get the grounded plane back in the air. Boeing said Friday it has told the Federal Aviation Administration about the issue. “We are making necessary updates and ... Read More »

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Best Buy says it is reviewing allegations made against CEO

By Joseph Pisani, The Associated Press on January 17th, 2020

NEW YORK – Best Buy said it is investigating CEO Corie Barry after receiving an anonymous letter making allegations against her. Best Buy declined to reveal the allegations but The Wall Street Journal, which first reported on the probe Friday, said it had seen the letter, which accused Barry of having an inappropriate romantic relationship ... Read More »

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TSX expected to shatter records in 2020 after gaining 2.9 per cent to start year

By Ross Marowits, The Canadian Press on January 17th, 2020

TORONTO – Canada’s main stock index is expected to shatter records in 2020 after starting the year up nearly three per cent to date, says an investment expert. The S&P/TSX composite index should gain at least 10 per cent for the year, pushing it to about 19,000 points while outpacing U.S. markets, says Macan Nia, ... Read More »

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Ottawa to avoid selling Trans Mountain pipeline so long as risks remain

By Mia Rabson, The Canadian Press on January 17th, 2020

OTTAWA – The federal government is studying the best options for Indigenous communities to reap economic benefits from the Trans Mountain pipeline but Ottawa is not planning to sell the project while legal and political risks remain. The Supreme Court of Canada eliminated one of those risks Thursday when it denied British Columbia the right ... Read More »

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North American stock markets rise nearly two per cent in record-breaking week

By The Canadian Press on January 17th, 2020

TORONTO – North American stock markets gained almost two per cent in a record-breaking week defined by continued investor optimism. The S&P/TSX composite index was up 74.25 points at 17,559.02 after trading at a record high of 17,572.15. In New York, the Dow Jones industrial average was 50.46 points at 29,348.10. The S&P 500 index ... Read More »

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