December 14th, 2019

Business

OSC rejects call to block HBC bid, but says circular needs to be amended

By The Canadian Press on December 13th, 2019

TORONTO – The Ontario Securities Commission has rejected a request by a minority shareholder to block a privatization bid for Hudson’s Bay Co. But the commission has granted Catalyst Capital Group’s request for an order that HBC must amend its management information circular about the bid. The OSC says the shareholder vote on the bid, ... Read More »

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How US-China trade deal achieved a little but left out a lot

By Paul Wiseman And Kevin Freking, The Associated Press on December 13th, 2019

WASHINGTON – The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to China. And American companies should face less pressure to hand over trade secrets to Beijing. But what the ... Read More »

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Bentley to restructure by closing 88 stores and shedding hundreds of jobs

By The Canadian Press on December 13th, 2019

MONTREAL – Baggage retailer Bentley says it has secured the backing of lenders and key stakeholders to exit creditor protection while shutting more than one-third of its stores and shedding hundreds of employees. The Montreal-based company said the support of employees, landlords and suppliers was critical for its restructuring that will provide new lines of ... Read More »

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TSX ends week higher as crude oil rises on trade truce between U.S. and China

By The Canadian Press on December 13th, 2019

TORONTO – Canada’s main stock index capped a good week by closing up as crude oil prices hit their highest level in nearly three months on optimism about demand flowing from a partial trade truce between the world’s two largest economies. The S&P/TSX composite index closed up 56.23 points at 17,003.13 on support from technology, ... Read More »

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Volkswagen intends to plead guilty to environment charges, but case put over

By Nicole Thompson, The Canadian Press on December 13th, 2019

TORONTO – Volkswagen’s attempts to plead guilty to all 60 Canadian charges it faces in an international emissions scandal were put on hold Friday as an environmental lawyer argued the court should hear victim impact statements. The federal government charged the behemoth this week with 58 infractions of the Environmental Protection Act, as well as ... Read More »

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Volkswagen intends to plead guilty on environment charges in Canadian court

By The Canadian Press on December 13th, 2019

TORONTO – Lawyers for Volkswagen say the German auto giant intends to plead guilty to all 60 charges against it in an Ontario court today on allegations that the company broke numerous environmental laws. The Canadian government announced Monday it was charging the behemoth with 58 infractions of the Canadian Environmental Protection Act, as well ... Read More »

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Teamsters say CN transferring workers across country twice in one year

By The Canadian Press on December 13th, 2019

MONTREAL – The Teamsters union says Canadian National Railway Co. has begun to transfer workers as part of an apparent move to relocate its rail traffic control centre to Edmonton from Montreal. Teamsters Canada says more than 100 positions would be affected at the centre, which handles the majority of rail traffic in Eastern Canada. ... Read More »

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TSX edges higher while U.S. markets dip as U.S. and China reach deal

By The Canadian Press on December 13th, 2019

TORONTO – Canada’s main stock index was up slightly while U.S. markets dipped after the U.S. and China reached an initial trade deal. The S&P/TSX composite index was up 6.70 points at 16,953.60 on mixed results as financials and materials rose while energy and consumer staples were down. In New York, the Dow Jones industrial ... Read More »

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UK’s Johnson claims Brexit mandate as Tories secure majority

By Jill Lawless, Danica Kirka And Mike Corder, The Associated Press on December 13th, 2019

LONDON – Prime Minister Boris Johnson’s Conservative Party has won a solid majority of seats in Britain’s Parliament – a decisive outcome to a Brexit-dominated election that should allow Johnson to fulfil his plan to take the U.K. out of the European Union next month. With 640 of the 650 results declared, the Conservatives had ... Read More »

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Samsung signs its first Canadian telecom equipment deal with Quebecor’s Videotron

By The Canadian Press on December 13th, 2019

MONTREAL – Samsung Electronics has made a first step into Canada’s telecommunications infrastructure market with a deal to supply equipment for Videotron’s wireless network in the province of Quebec and the Ottawa region of Ontario. Videotron operates one of Canada’s four major regional wireless businesses in competition against the three big national carriers – Rogers, ... Read More »

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Trump says US, China have reached deal; Sunday tariffs off

By Paul Wiseman And Joe McDonald, The Associated Press on December 13th, 2019

WASHINGTON – President Donald Trump said Friday that the U.S. has cancelled plans to impose new tariffs on $160 billion worth of Chinese imports Sunday as part of a modest interim agreement that de-escalates a 17-month trade war between the world’s two biggest economies. The United States is also reducing existing import taxes on about ... Read More »

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