December 14th, 2018

Business

The Latest: Airbnb bashes New Orleans’ proposed restrictions

By The Associated Press on December 13th, 2018

NEW ORLEANS – The Latest on a proposal to ban short-term rentals of non-owner-occupied houses in New Orleans (all times local): 4:30 p.m. Airbnb says a proposal in New Orleans to ban short-term rentals of whole homes that are not owner-occupied would “devastate” some city residents who depend on the income. New Orleans City Council ... Read More »

Be the first to comment!

Panama Canal consortium ordered to repay $847M in advances

By The Associated Press on December 13th, 2018

PANAMA CITY – An international arbitration panel has ruled the Spanish-led consortium that built the expansion of the Panama Canal must repay $847 million in advances it received during the construction project. A panel under the International Chamber of Commerce says the consortium must repay $547 million it got in 2009 when the project started ... Read More »

Be the first to comment!

Starbucks to expand delivery in US, China

By Dee-Ann Durbin, The Associated Press on December 13th, 2018

NEW YORK – Starbucks is expanding delivery to more stores in the U.S. and China as it tries to accelerate growth in those two markets. The company says it will offer delivery from 2,000 U.S. stores by next summer through a partnership with Uber Eats. It isn’t yet saying which stores will offer it. In ... Read More »

Be the first to comment!

Arizona journalism saga has poisoning claim, nasty divorce

By Felicia Fonseca, The Associated Press on December 13th, 2018

PRESCOTT, Ariz. – An award-winning Arizona newspaper publisher and his wife are locked in a bizarre divorce case that has morphed into something more: a journalism ethics saga. Joseph Soldwedel has accused wife Felice Soldwedel in a lawsuit of trying to kill him by poisoning him, and detailed the allegations in one of the small-town ... Read More »

Be the first to comment!

Moody’s downgrades Ontario’s credit rating

By The Canadian Press on December 13th, 2018

TORONTO – Bond rating agency Moody’s has downgraded the province of Ontario’s credit rating. The agency announced the downgrade from Aa3 to Aa2 today, citing the province’s $14.5-billion deficit in 2018-2019 and projections that it will continue to post deficits in the coming years. Moody’s says the combination of increased debt and slow revenue growth ... Read More »

Be the first to comment!

DavidsTea Inc. reports $9.1M loss in third quarter, sales up 1.5 per cent

By The Canadian Press on December 13th, 2018

MONTREAL – DavidsTea Inc. saw its profit slip in its most recent quarter, despite a slight increase in sales. The Montreal-based retailer reported a consolidated net loss of $9.1 million or 35 cents per diluted share for its third quarter ending Nov. 3 compared to a net less of $6.5 million or 25 cents per ... Read More »

Be the first to comment!

Western oil price rally unlikely to last after curtailments begin: expert panel

By The Canadian Press on December 13th, 2018

A panel of experts says it’s unlikely a dramatic improvement in western Canadian oil prices since Alberta Premier Rachel Notley announced production curtailments on Dec. 2 will continue after the cuts begin on Jan. 1. The difference between Western Canadian Select bitumen-blend heavy oil and New York-traded West Texas Intermediate oil prices had widened to ... Read More »

Be the first to comment!

Toronto market closes down despite rise in the price of crude oil

By The Canadian Press on December 13th, 2018

TORONTO – Canada’s main stock index closed lower despite a surge in the price of crude oil. The S&P/TSX composite index lost 32.71 points to 14,750.35. In New York, the Dow Jones industrial average was up 70.11 points at 24,597.38. The S&P 500 index was down 0.54 of a point at 2,650.53, while the Nasdaq ... Read More »

Be the first to comment!

Critics slam proposed oil exploration near ‘unbelievably beautiful’ Sable Island

By Brett Bundale, The Canadian Press on December 13th, 2018

HALIFAX – A call for energy companies to bid on exploration rights around Nova Scotia’s iconic Sable Island has prompted swift condemnation from a coalition of environmental, fishing and tourism groups. The rugged and wild windswept sandbar in the Atlantic Ocean is a place of endangered species, wild horses and legendary shipwrecks. The Canada-Nova Scotia ... Read More »

Be the first to comment!

SNC-Lavalin cuts 100 jobs as politicians say it is vulnerable to takeover

By Julien Arsenault, The Canadian Press on December 13th, 2018

MONTREAL – SNC-Lavalin Inc. is eliminating about 100 positions in Canada at the same time as the Quebec engineering firm is being described by political leaders as being vulnerable to a foreign takeover. The Montreal-based firm says the workforce reduction is attributable to the completion of various projects across the country. “We are hiring employees ... Read More »

Be the first to comment!

Transat struggles amid rising Canadian competition for sun destinations

By Christopher Reynolds, The Canadian Press on December 13th, 2018

MONTREAL – Transat A.T. endured a frigid earnings year despite refocusing its sun destinations and beachside resorts as rising jet fuel prices and currency fluctuations reduced the travel company’s profits ahead of the ramp-up of competition from Canadian airlines. “The results of Q4 and summer “˜18 are not as positive as last year’s. Yearly results ... Read More »

Be the first to comment!