February 21st, 2019

Business

The Caisse CEO says it will remain ‘a rock’ for SNC-Lavalin despite wave of woes

By Julien Arsenault, The Canadian Press on February 21st, 2019

MONTREAL – Despite a turbulent short-term horizon, Quebec’s Caisse de depot does not intend to dump SNC-Lavalin Group Inc. amidst the ongoing firestorm. The Caisse – the province’s pension fund manager and SNC-Lavalin’s largest shareholder with a stake of about 20 per cent – delivered a vote of confidence in the beleaguered construction giant Thursday. ... Read More »

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‘We didn’t like it at all’: CP Rail CEO objects to Notley’s approach to crude

By Christopher Reynolds, The Canadian Press on February 21st, 2019

The head of Canadian Pacific Railway Ltd. has voiced his displeasure at the idea of Alberta’s $3.7-billion deal with Canada’s two biggest rail companies to ship more crude via rail amid a pipeline crunch squeezing oilsands producers. “So the government steps in, we didn’t like it at all,” said Keith Creel, speaking at a conference ... Read More »

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HBC to shutter Home Outfitters brand and likely some Saks Off Fifth locations

By The Canadian Press on February 21st, 2019

TORONTO – Hudson’s Bay Co. says it will close its Home Outfitters business and estimates it will shutter 20 of its U.S. Saks Off Fifth locations. The Toronto-based retailer says the moves are part of plans to reduce costs, simplify the business and improve overall profitability. HBC says the shutdown of all 37 Home Outfitters ... Read More »

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North American stock markets close lower along with loonie and key commodities

By The Canadian Press on February 21st, 2019

TORONTO – Canada’s main stock index closed lower along with U.S. markets as key commodities fell, while the loonie slipped lower as the Bank of Canada governor gave mixed commentary on the economy. The S&P/TSX composite index closed down 30.38 points at 16,000.86. In New York, the Dow Jones industrial average ended down 103.81 points ... Read More »

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U.S. tariffs on steel, aluminum could be gone in weeks, ambassador says

By The Canadian Press on February 21st, 2019

WASHINGTON – Canada’s ambassador to the United States says he believes punishing American tariffs on Canadian steel and aluminum could be gone in a matter of weeks. David MacNaughton is saying little else about the source of his optimism beyond what he considers to be a growing understanding south of the border that the tariffs, ... Read More »

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Huawei to continue to work with consumers even if 5G banned in Canada: chairman

By Tara Deschamps, The Canadian Press on February 21st, 2019

TORONTO – Huawei Technologies Inc. is adamant that it won’t abandon Canadian consumers, telecommunications companies and universities, even if the country’s government bans its 5G technology. Speaking through a translator at a media roundtable Thursday, the technology giant’s chairman Liang Hua stressed that he believes there is a way for the business to forge ahead ... Read More »

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Upward path for interest rates ‘highly uncertain’: Bank of Canada governor

By Andy Blatchford, The Canadian Press on February 21st, 2019

OTTAWA – The country’s road to higher interest rates is “highly uncertain” as the Bank of Canada monitors evolving unknowns related to indebted Canadians, stricter mortgage rules, business investment and global trade, governor Stephen Poloz said Thursday. In a speech in Montreal, Poloz said he expected the benchmark rate to eventually rise above its current ... Read More »

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‘We didn’t like it at all’: CP Rail CEO objects to Notley’s crude-by-rail deal

By Christopher Reynolds, The Canadian Press on February 21st, 2019

The head of Canadian Pacific Railway Ltd. has voiced his displeasure at the idea of Alberta’s $3.7-billion deal with Canada’s two biggest rail companies to ship more crude via rail amid a pipeline crunch squeezing oilsands producers. “So the government steps in, we didn’t like it at all,” said Keith Creel, speaking at a conference ... Read More »

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White House ends California talks on mileage dispute

By Ellen Knickmeyer And Tom Krisher, The Associated Press on February 21st, 2019

WASHINGTON – The Trump administration on Thursday broke off talks on vehicle mileage standards with California, increasing the chances of a court battle that threatens to unsettle the auto industry. The White House, which has proposed freezing the standards, said it would now move unilaterally to finish its own mileage rule later this year “with ... Read More »

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CP Rail CEO not supportive of Rachel Notley’s crude-by-rail deal

By The Canadian Press on February 21st, 2019

The head of Canadian Pacific Railway Ltd. has voiced his displeasure at the idea of Alberta’s $3.7-billion deal with Canada’s two biggest rail companies to ship more crude via rail amid a pipeline crunch squeezing oilsands producers. Keith Creel, speaking at a conference in Miami on Wednesday, said his company “didn’t like it at all” ... Read More »

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Spain: Pro-secession protesters block roads in Catalonia

By Joseph Wilson, The Associated Press on February 21st, 2019

BARCELONA, Spain – Protesters backing Catalonia’s secession from Spain clashed with police and blocked roads across the northeastern region Thursday during a student and worker strike over the trial of a dozen separatist leaders. Regional police said four people were arrested when officers met resistance while trying to clear groups of protesters who had stopped ... Read More »

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