Sunday, March 29, 2015

Business

CBC axing news jobs

TORONTO—CBC is slashing 244 jobs from local news services across the country as its plans to shift some of its limited resources to its digital operations.
The cuts include 144 positions from English-language services and 100 jobs on the French side, which include 20 vacant positions and retirements.

U.S. businesses plead with lawmakers to avoid trade war with Canada

WASHINGTON — Business interests are pleading with the U.S. Congress to avert a trade war with Canada that could squeeze Florida orange-growers, put a cork in California wine exports and sour the sales of American chocolate.

Regulator slams Bell Media after report exec meddled with CTV journalism

OTTAWA — Canada’s broadcasting regulator has issued a sharply worded reminder to Bell Media that it has a statutory duty not to interfere in the work of its CTV journalists, calling a report of meddling “disturbing.”

Heinz to combine with Kraft in deal backed by Buffett, Brazilian firm, creating food giant

NEW YORK — H.J. Heinz Co. is buying Kraft Foods Group Inc., creating what the companies say will be the third-largest food and beverage company in North America.
The deal was engineered by Heinz’s owner, the Brazilian investment firm 3G Capital, and billionaire investor Warren Buffett’s Berkshire Hathaway.

Republican bill would create organic-style certification for foods free of GMOs

WASHINGTON — Inspired by the popular “USDA organic” label, House Republicans are proposing a new government certification for foods free of genetically modified ingredients.

St. Lawrence Seaway opening delayed one week until April 2

MONTREAL — The annual opening of the St. Lawrence Seaway is being delayed about a week due to cold weather and heavy ice in sections of the passage.
The 3,700-km waterway from Montreal to mid-Lake Erie is scheduled to open April 2. The seaway typically opens around March 25.

Proof grows that female executives bring bigger profits, but businesses still slow to act

LONDON — When Rohini Anand took over diversity programs at multinational catering company Sodexo in 2002, she had one goal: To prove that it pays for a company to have equal numbers of male and female managers.

EDC, Chinese bank working together to promote use of renminbi in trade deals

TORONTO — North America’s first trading hub for China’s currency, the renminbi, will strengthen the trade relationship between Canada and the Asian economic powerhouse, federal Finance Minister Joe Oliver said Monday.
“There is tremendous potential to grow this trade relationship,” Oliver said at the Toronto launch of the trading hub’s clearing function.

Cliffs to sell chromite claims in Ring of Fire area to Noront for US$20 million

TORONTO — Noront Resources shares surged 38 per cent Monday after the company concluded a US$20-million deal to buy chromite mining claims in the remote Ring of Fire area owned indirectly by Cleveland-based iron ore producer Cliffs Natural Resources Inc.

CRTC to require cable, satellite companies to offer basic package, with $25 cap

GATINEAU, Que. — Cable and satellite service providers will soon have to offer consumers an “entry-level” television service, at a cost of no more than $25 a month.
Canadian Radio-television and Telecommunications Commission released the new requirements on Thursday, following its lengthy Let’s Talk TV hearings last fall.

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