February 18th, 2019

Business

Fashion world descends on London for fashion week shows

By Gregory Katz, The Associated Press on February 15th, 2019

London is taking its turn in the style spotlight with the opening of London Fashion Week, an extravaganza that will feature up-and-coming young designers along with big names like Victoria Beckham, Vivienne Westwood and Burberry. More than 100 catwalk shows are scheduled along with countless crowded, fizzy parties and dozens of presentations. BORA AKSU The ... Read More »

Be the first to comment!

Enbridge confident Line 3 pipeline will open this year despite new challenge

By Dan Healing, The Canadian Press on February 15th, 2019

CALGARY – Enbridge Inc. is confident that its Line 3 oil pipeline replacement project will come into service by the end of the year in spite of a renewed challenge launched this week by the newly elected governor of Minnesota. On Tuesday, Gov. Tim Walz announced that his commerce department would petition the state Public ... Read More »

Be the first to comment!

Ontario energy minister on Hydro One CEO pay: ‘This is not a negotiation’

By The Canadian Press on February 15th, 2019

TORONTO – Ontario’s energy minister is asking Hydro One to come up with a revised executive compensation framework that slashes proposed CEO pay, warning that the government is not going to negotiate on the issue. The partially privatized utility submitted a framework last week that sets maximum CEO compensation at nearly $2.8 million. But the ... Read More »

Be the first to comment!

Canada’s main stock index advances in broad-based advance; dollar edges up

By The Canadian Press on February 15th, 2019

TORONTO – Canada’s main stock index was up substantially Friday morning in a broad-based advance. The S&P/TSX composite index was up 153.13 points at 15,849.11 after 90 minutes of trading. In New York, the Dow Jones industrial average was up 335.63 points at 25,775.02. The S&P 500 index was up 22.9 points at 2,768.63, while ... Read More »

Be the first to comment!

Aphria says review reveals conflict of interest of directors in acquisition

By The Canadian Press on February 15th, 2019

LEAMINGTON, Ont. – Cannabis producer Aphria Inc. says a review of its governance procedures revealed certain non-independent directors had conflicting interests in its acquisition of several Latin American companies. The company says a separate review of the takeover of the companies in Jamaica, Argentina and Colombia found the purchase price for the deal to be ... Read More »

Be the first to comment!

Natural gas liquids processing gains drive profit increase at Inter Pipeline

By The Canadian Press on February 15th, 2019

CALGARY – Inter Pipeline Ltd. says an increase in natural gas liquids processing volumes and revenue was the major driver behind higher earnings in the fourth quarter. The Calgary-based energy transport, processing and storage company says it had net income of $144 million or 36 cents per share in the last three months of 2018, ... Read More »

Be the first to comment!

Full pipelines, new services propel Enbridge to street-beating $1.17B income

By The Canadian Press on February 15th, 2019

CALGARY – Enbridge Inc. says full oil and gas pipelines and the addition of new services led to fourth-quarter earnings that beat analyst expectations. Canada’s largest pipeline operator says adjusted net income was $1.17 billion or 65 cents per share in the last three months of 2018, beating analyst estimates of $1.12 billion or 62 ... Read More »

Be the first to comment!

January home sales were weakest since 2015, average national price falls: CREA

By The Canadian Press on February 15th, 2019

OTTAWA – The Canadian Real Estate Association says last month was the weakest January for residential sales since 2015, with the number of transactions down four per cent nationally from last year. The association says about 23,968 properties were sold through the Multiple Listing Service in January, down from 24,977 a year earlier. CREA says ... Read More »

Be the first to comment!

Sidewalk wants cut of property taxes and development fees for Quayside project

By The Canadian Press on February 15th, 2019

TORONTO – The Alphabet Inc.-backed entity behind plans to build a high tech community in Toronto is proposing it receive a cut of developer fees and incremental property taxes associated with the project. Sidewalk Labs has released documents showing that in return for developing the Quayside community, it intends to push for access to money ... Read More »

Be the first to comment!

AP analysis: Steel tariffs waived even with tough trade talk

By Richard Lardner And Larry Fenn, The Associated Press on February 15th, 2019

WASHINGTON – Despite President Donald Trump’s tough talk on trade, his administration has granted hundreds of companies permission to import millions of tons of steel made in China, Japan and other countries without paying the hefty tariff he put in place to protect U.S. manufacturers and jobs, according to an Associated Press analysis. The waivers ... Read More »

Be the first to comment!

Cineplex Q4 profit falls as theatre attendance declines; revenue up slightly

By The Canadian Press on February 15th, 2019

TORONTO – Cineplex Inc. says it had $27.2 million of net income in the fourth quarter, down from $28.8 million a year earlier, as attendance at its theatres declined. The Toronto-based entertainment company says the profit amounted to 43 cents per share, down from 45 cents per diluted share in fourth quarter of 2017. On ... Read More »

Be the first to comment!