October 20th, 2019

Business

GM workers called back to Oshawa plant after U.S. union reaches tentative deal

By The Canadian Press on October 18th, 2019

OSHAWA, Ont. – General Motors has recalled all workers to its assembly plant in Oshawa, Ont., after the United Auto Workers union in the U.S. reached a tentative deal earlier this week. GM Canada spokeswoman Jennifer Wright said the company called the roughly 2,000 temporarily laid-off workers at Oshawa back Friday and will be resuming ... Read More »

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S&P/TSX composite edges lower while U.S. stock markets fall; loonie up

By The Canadian Press on October 18th, 2019

TORONTO – Canada’s main stock index edged lower in late-morning trading as losses in the energy and materials sectors helped outweigh gains in the financial sector. The S&P/TSX composite index was down 0.67 of a point at 16,425.63. In New York, the Dow Jones industrial average was down 66.05 points at 26,959.83. The S&P 500 ... Read More »

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Edibles, vapes and oils: What you need to know about cannabis 2.0

By The Canadian Press on October 18th, 2019

TORONTO – Weed-infused brownies, CBD-based hand creams and cannabis vaping products are now legal in Canada, but eager consumers will have to wait until at least mid-December – and the province with the most licensed pot shops is signalling that early 2020 is more realistic. Regulations governing next-generation cannabis products such as edibles, beverages, vapes ... Read More »

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Gildan Activewear stock drops more than 20% after guidance update

By The Canadian Press on October 18th, 2019

MONTREAL – Gildan Activewear Inc. shares were down more than 20 per cent in mid-morning trading Friday after the company cut its 2019 guidance and warned third-quarter earnings would shrink. The shares were down by $10.39 or 22.34 per cent at $36.12 on the Toronto Stock Exchange after the company highlighted weaker demand for imprintable ... Read More »

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Gildan Activewear stock drops more than 30% after guidance update

By The Canadian Press on October 18th, 2019

MONTREAL – Gildan Activewear Inc. shares fell more than 30 per cent in early trading after the company cut its 2019 guidance and warned third-quarter earnings would shrink. The shares were down by $14.50 or more than 31 per cent at $31.99 in trading on the Toronto Stock Exchange on Friday after the company highlighted ... Read More »

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Corus Entertainment reports $22.9M Q4 profit down from $33.7M a year ago

By The Canadian Press on October 18th, 2019

TORONTO – Corus Entertainment Inc. says it earned $22.9 million in its latest quarter, down from nearly $33.7 million in the same quarter a year ago, as its revenue edged lower. The parent company of Global Television, specialty TV channels and radio stations says the profit amounted to 11 cents per diluted share for the ... Read More »

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China’s economic slowdown deepens, weighing on global growth

By Joe McDonald, The Associated Press on October 17th, 2019

BEIJING – China’s economic growth sank to a 26-year low in the latest quarter amid pressure from a trade war with Washington, adding to a deepening slump that is weighing on global growth. The world’s second-largest economy expanded by 6 per cent in the three months ending in September, down from the previous quarter’s 6.2 ... Read More »

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Facebook CEO defends refusal to take down some content

By Marcy Gordon, The Associated Press on October 17th, 2019

WASHINGTON – Facebook CEO Mark Zuckerberg on Thursday defended the social media platform’s refusal to take down content it considers newsworthy “even if it goes against our standards.” But while he promoted free expression, limitations were place on coverage of his remarks at Georgetown University. Reporters were not allowed to ask questions – only students ... Read More »

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Anheuser-Busch accuses MillerCoors of stealing recipes

By The Associated Press on October 17th, 2019

MILKWAUKEE, Wis. – Anheuser-Busch is suing MillerCoors over its confidential recipes for Bud Light and Michelob Ultra. In a heavily redacted court filing Thursday, Anheuser-Busch claims MillerCoors illegally obtained the recipes through one of its employees, who used to work for Anheuser-Busch. Anheuser-Busch says MillerCoors wanted the recipes because it was planning to retaliate for ... Read More »

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Gildan Activewear cuts 2019 guidance on weaker third-quarter results

By The Canadian Press on October 17th, 2019

MONTREAL – Gildan Activewear Inc. has cut it 2019 guidance after warning that its third-quarter results will be lower on weaker demand for imprintable apparel in North America and internationally. The low-cost producer says it expects to report Oct. 31 that earnings will decrease about seven per cent to 51 cents US per share for ... Read More »

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Energy Secretary Perry resigning at end of year, Trump says

By Jill Colvin, Kevin Freking And Matthew Daly, The Associated Press on October 17th, 2019

WASHINGTON – Energy Secretary Rick Perry will leave his job by the end of the year, President Donald Trump said Thursday. Perry was travelling with Trump to Texas when he told Trump of his decision aboard Air Force One. Perry is under scrutiny over the role he played in the president’s dealings with Ukraine, which ... Read More »

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