March 21st, 2019

Business

Meng Wanzhou extradition case raises ‘serious concerns,’ defence lawyer says

By The Canadian Press on March 6th, 2019

VANCOUVER – A defence lawyer says an extradition case involving Meng Wanzhou, the chief financial officer of Huawei Technologies, raises “serious concerns” about political motivations. The executive was arrested in December at Vancouver’s airport at the request of U.S. authorities and Canada announced last week it intends to proceed with the extradition case. Meng’s lawyer ... Read More »

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From closets to cooktops, tech aims to bring efficiency home

By Karen Schwartz, The Associated Press on March 6th, 2019

LAS VEGAS – Closets that freshen clothes, cooktops that won’t let pots boil over, faucets told to dispense just enough water to fill the coffee maker. Wherever one looked at the annual Design and Construction Week, there was a new way to make our lives more efficient. “We can make appliances work harder for you,” ... Read More »

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What says ‘modern’ now in decor? Some trends for Spring 2019

By Kim Cook, The Associated Press on March 6th, 2019

As the weather improves and our winter hibernation ends, the urge to refresh and renew a room or two often follows. It may be as simple as adding a few new decorative items or changing a worn-out piece of furniture. Or maybe it’s something a little more ambitious, like a new room layout or colour ... Read More »

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Central bank predicts longer slump and more uncertainty about future rate hikes

By Andy Blatchford, The Canadian Press on March 6th, 2019

OTTAWA – The Bank of Canada is leaving its key interest rate unchanged in the wake of an abrupt economic deceleration that it says is injecting more uncertainty about the timing of future rate hikes. The central bank also told Canadians on Wednesday that they should to expect a bleaker economic performance in the months ... Read More »

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Aecon Group notches record revenues and contract bookings in 2018

By The Canadian Press on March 6th, 2019

MONTREAL – Aecon Group Inc. said it notched record annual revenues in 2018, allowing it to raise its quarterly dividend by two cents per share to 14.5 cents. The construction firm logged a 16 per cent year-over-year increase in revenues to $3.27 billion last year, up from $2.81 billion in 2017. For the quarter ended ... Read More »

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Pengrowth launches review after debt refinancing fails amid plunging oil prices

By The Canadian Press on March 6th, 2019

CALGARY – Pengrowth Energy Corp. has launched a strategic review that could include the sale of the company after failing to renegotiate its high debt load amid plunging western Canadian oil prices late last year. The Calgary-based company, which has reduced production at its key Lindbergh steam-driven heavy oil project in eastern Alberta to comply ... Read More »

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Financial sector helps boost stocks in Toronto, U.S. stocks in the red

By The Canadian Press on March 6th, 2019

TORONTO – Gains in the financial sector led Canada’s main stock index higher in late-morning trading, while U.S. stock markets were stuck in the red as they moved lower. The S&P/TSX composite index was up 53.01 points at 16,139.55. In New York, the Dow Jones industrial average was down 51.46 points at 25,755.17. The S&P ... Read More »

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STEP Energy Services cuts staff as Canadian oilfield spending slump continues

By The Canadian Press on March 6th, 2019

CALGARY – Another Calgary-based oilfield services company is reporting job cuts as activity in Canada slows due to lower oil and gas producer spending. STEP Energy Services Ltd. says it cut 13 per cent of its administrative staff in early 2019 and has reduced field staff by 12 per cent since Oct. 1. In a ... Read More »

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China cites pest concerns as the reason for a ban on Canadian canola

By The Canadian Press, The Associated Press on March 6th, 2019

BEIJING – China’s foreign ministry said Wednesday that it is blocking some imports of Canadian canola due to fears of insect infestation, in what some suggest is just the latest swipe against the Canadian government for arresting a top Chinese tech executive. At a daily briefing, Foreign Ministry spokesman Lu Kang said China suspended canola ... Read More »

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Central bank holds rate, notes ‘increased uncertainty’ on timing of future hikes

By The Canadian Press on March 6th, 2019

OTTAWA – The Bank of Canada is leaving its key interest rate unchanged and is pointing to increased uncertainty about the timing of future rate hikes following the economy’s abrupt deceleration in late 2018. The central bank’s trend-setting interest rate is staying at 1.75 per cent for a third-straight policy announcement – a stretch that ... Read More »

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Statistics Canada says trade deficit hit record $4.6 billion in December

By The Canadian Press on March 6th, 2019

OTTAWA – Statistics Canada says the country’s merchandise trade deficit grew to a record $4.6 billion in December as lower crude oil prices prompted a drop in exports. The result followed a trade deficit of $2.0 billion in November. Exports were down 3.8 per cent to $46.3 billion in December. Exports of energy products fell ... Read More »

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