Wednesday, April 23, 2014

Business

Canada to phase out old rail tankers in 3 years in response to Quebec explosion that killed 47

TORONTO — Canada will require a three-year phase out or retrofit of the type of rail tankers involved in last summer’s massive explosion of an oil train that incinerated much of a Quebec town and killed 47 people, Canada’s transport minister announced Wednesday.
Last July, a runaway oil train derailed in Lac-Megantic, Quebec, near the Maine border. About 30 buildings were destroyed.

Canada’s middle class surpasses that in the U.S., says New York Times report

OTTAWA — There is a middle class crisis, but it’s happening south of the border, not in Canada, according to a New York Times report on incomes around the world.
The newspaper says an analysis it conducted with the LIS data centre shows that while Canadian median income per capita trailed the U.S. badly at the turn of the century, it had caught up by 2010 and now likely is ahead.

Supreme Court appears likely to back Pom Wonderful in juice label dispute with Coke

WASHINGTON — Count Supreme Court Justice Anthony Kennedy among consumers who feel misled by a beverage called “Pomegranate Blueberry Flavored Blend of 5 Juices.”
The drink was the subject of a lively debate Monday as the high court considered whether to allow false advertising claims against the Coca-Cola Co., which markets the beverage under its Minute Maid unit.

Apple unveils free recycling of all its devices, vows to increase reliance on renewable energy

SAN FRANCISCO — Apple is offering free recycling of all its used products and vowing to power all of its stores, offices and data centres with renewable energy to reduce the pollution caused by its devices and online services.

Osisko Mining announces new deal with Yamana Gold and Agnico Eagle

MONTREAL — Osisko Mining Corp. (TSX:OSK) has signed a new friendly deal valued at $3.9 billion that will see the gold miner acquired by Yamana Gold (TSX:YRI) and Agnico Eagle Mines Ltd. (TSX:AEM).
Osisko’s main asset is the Canadian Malartic mine in Quebec.
The offer tops a rival hostile bid by Goldcorp (TSX:G) that was valued at $3.6 billion or $7.65 per share.

Gunmen dig in in eastern Ukraine; govt tanks seen near town controlled by armed insurgents

HORLIVKA, Ukraine — Pro-Russian insurgents dug in Tuesday across eastern Ukraine, fortifying their positions around seized buildings and erecting fresh barricades even as Ukrainian tanks took up positions outside one eastern city now controlled by armed men.

Canucks owners join aboriginal businessman to pitch their own pipeline for BC

VANCOUVER — An aboriginal businessman and former motivational speaker has teamed with the British Columbia billionaires best known for their ownership of the Vancouver Canucks to pitch an alternative to the struggling Northern Gateway pipeline.

Conditions for three more NHL teams in Canada? Eventually, says Conference Board

MONTREAL — The Conference Board of Canada says the economic conditions are favourable enough to have three more National Hockey League franchises in the country within the next 20 years.
The board suggested Monday that in addition to Canada’s seven existing NHL teams, Quebec City and Hamilton, Ont., appear to meet minimum requirements to become home to franchises in the near future.

Canadian consumer confidence index up from year ago, slightly below Q4 reading

WINNIPEG — A new survey says Canadian consumer confidence at the beginning of 2014 was higher than it was one year ago but slightly lower than at the end of 2013.
The Harris/Decima-Investors Group’s overall consumer confidence index for the first quarter of 2014 stood at 81.2.

CBC slashing jobs, budget

TORONTO—The CBC is slashing 657 full-time positions over two years and no longer will pursue broadcast rights to professional sports as it grapples with a budget shortfall it blamed on poor TV ratings, a softened advertising market, and stiff competition from private rival networks.

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