February 22nd, 2019

Business

UK scraps Brexit ferry deal with firm that has no ships

By The Associated Press on February 9th, 2019

LONDON – The British government has cancelled a contract to ship goods to the country after Brexit with a company that turned out to have no boats and no experience running a ferry service. Authorities had been criticized for the 13.8 million pound ($18 million) deal with Seaborne Freight, part of plans to keep trade ... Read More »

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B.C. moves closer to money laundering public inquiry; feds vow ‘crack down’

By Dirk Meissner, The Canadian Press on February 8th, 2019

VICTORIA – Money laundering in British Columbia has become a top issue for the federal and provincial governments with federal Finance Minister Bill Morneau vowing a “crack down” Friday, while the province considers a public inquiry. “The importance of dealing with money laundering concerns is something that is clearly on our agenda,” said Morneau at ... Read More »

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NY gov raps Amazon critics amid report company’s rethinking

By Jennifer Peltz And David Klepper, The Associated Press on February 8th, 2019

NEW YORK – Gov. Andrew Cuomo warned Friday about what he called “political pandering” to critics of Amazon’s proposed secondary headquarters amid a report that the company is reconsidering its planned New York City headquarters. But opponents said they’d keep fighting a project they consider corporate welfare. The back-and-forth came after The Washington Post reported ... Read More »

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Namaste says firm is ‘solid’ as ex-CEO launches legal battle against termination

By Armina Ligaya, The Canadian Press on February 8th, 2019

TORONTO – Namaste Technologies Inc.’s interim chief executive is urging its shareholders to “ignore the rumours” as its ex-CEO commenced legal action against the cannabis company to prohibit his termination unless a “proper process” is followed. According to court documents, Sean Dollinger on Feb. 5 applied for a permanent, mandatory injunction requiring Namaste and board ... Read More »

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Canada’s stock index posts fifth positive week of year despite Friday loss

By The Canadian Press on February 8th, 2019

TORONTO – Canada’s main stock index posted its fifth positive week of the year despite closing lower Friday. The S&P/TSX composite index was down 70.03 points at 15,633.33. In New York, the Dow Jones industrial average was down 63.20 points at 25,106.33. The S&P 500 index was up 1.83 points at 2,707.88, while the Nasdaq ... Read More »

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Namaste says firm is ‘solid’ as ex-CEO launches legal battle

By The Canadian Press on February 8th, 2019

TORONTO – Namaste Technologies Inc.’s interim chief executive is urging its shareholders to “ignore the rumours” as its ex-CEO commenced legal action against the cannabis company to prohibit his termination unless a “proper process” is followed. According to court documents obtained by the Canadian Press, Sean Dollinger applied for a permanent, mandatory injunction requiring Namaste ... Read More »

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Finance Minister says feds focused on money laundering fight in B.C., globally

By The Canadian Press on February 8th, 2019

VICTORIA – Finance Minister Bill Morneau says fighting money laundering in Canada and abroad is on the federal government’s agenda. He says the federal government is working together with British Columbia’s government to combat money laundering. Morneau says the government’s focus on money laundering also spreads beyond Canada’s borders where there are global concerns with ... Read More »

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SNC-Lavalin viewed as jewel of Quebec Inc. that needs to be protected: professor

By Ross Marowits, The Canadian Press on February 8th, 2019

TORONTO – For more than a century, SNC-Lavalin has been viewed with pride in Quebec as it grew from a small firm specializing in hydraulics into a global engineering and construction giant. Founded in 1911, it gained a reputation for building a large dam in Quebec that spearheaded the province’s development of hydroelectricity and developing ... Read More »

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Interfor says it’s shipping more lumber from Canada after China tariffs on U.S.

By The Canadian Press on February 8th, 2019

VANCOUVER – Interfor Corp. says the company has markedly increased lumber shipments from Canada to China as a result of tariffs imposed on its U.S. production. Barton Bender, vice-president of sales, told a conference call with financial analysts, that Interfor has tried to keep overall lumber shipments to the country constant after China retaliated to ... Read More »

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Correction: Sears-Survival story

By The Associated Press on February 8th, 2019

NEW YORK – In a story Feb. 7 about Sears staying in business, The Associated Press incorrectly spelled the name of a popular American TV show that aired in the 1960s. The show is “The Andy Griffith Show,” not “The Andy Griffin Show.” A corrected version of the story is below: Bankruptcy judge gives Sears ... Read More »

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Mattel, Hasbro results show diverging post-Toys R Us paths

By The Associated Press on February 8th, 2019

NEW YORK – Quarterly reports from Mattel and Hasbro show that while the demise of Toys R Us has shaken up the industry, the two dominant toymakers’ paths are diverging less than a year later. Late Thursday, Mattel posted better-than-expected earnings per share and revenue for the key holiday quarter, sending its shares up sharply. ... Read More »

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