Malaysia says Goldman Sachs must pay, apology not enough

Malaysia’s Finance Minister Lim Guan Eng said Friday that an apology by Goldman Sachs for its role in the alleged multibillion-dollar ransacking of state investment fund 1MDB was insufficient and that it must pay $7.5 billion US as compensation. Goldman CEO David Solomon apologized Wednesday to the Malaysian people for former banker Tim Leissner’s role […]

More than 150 automotive tech jobs coming to Windsor, says federal minister

More than 150 jobs in the automotive technologies sector are coming to Windsor, according to Canada’s minister of innovation, science and economic development. During a visit to APAG Elektronik in Windsor, innovation minister Navdeep Bains announced $4 million in federal funding for the company. Service Mold + Aerospace, an integrated tool-and-mold manufacturer, will also receive $1 million. Both investments […]

U.S. Fed chair plays Scrooge as markets tumble following latest rate hike: Don Pittis

With his long face and expressive grimaces, Federal Reserve chair Jerome Powell might have played a powerful Ebenezer Scrooge, the repentant anti-hero of Charles Dickens’s A Christmas Carol. Certainly that is how stock markets seemed to see him yesterday after the U.S. central banker hiked rates for the fourth time this year. Powell and his team of […]

Enbridge pipeline foes look past regulators after another loss in Minnesota

Opponents of Enbridge Energy’s proposed Line 3 crude oil pipeline replacement are turning their attention to fighting the project on other fronts after a Minnesota regulatory panel took one of its final steps Thursday and reaffirmed its approval of the project. The Public Utilities Commission unanimously rejected petitions by environmental and Native American groups that […]

Huawei’s CFO walks free on $10M bail as she awaits extradition proceedings

Huawei’s chief financial officer has been released on $10 million bail — with five guarantors — as she awaits possible extradition to the United States on fraud charges. Meng Wanzhou, 46, was granted bail after three days of hearings concluded on Tuesday afternoon. She exited through a side door at B.C. Supreme Court in downtown Vancouver around 8 p.m. […]

Husky ‘deeply sorry’ for oil spill last month off Newfoundland

Husky Energy said Monday it is “deeply sorry” for two back-to-back spills that sent a total of 250,000 litres of a oil, water and gas into the ocean last month, and said it is making changes to prevent it from happening again.  The two spills occurred within an hour of each other on Nov. 16, […]

Unemployment reaches 40-year low with 94,100 new jobs added in November

A blast of 94,100 new jobs last month has knocked the country’s unemployment rate down to 5.6 per cent — its lowest level since Statistics Canada started measuring comparable data more than 40 years ago. The overall number marked the labour force survey’s largest monthly increase since March 2012, when there was a gain of […]

Your grocery bill could rise 3.5% in 2019, study predicts

The price of food could increase by up to 3.5 per cent in 2019, an annual study of food prices predicts, but there’s good news for Canadian consumers buying meat and seafood, which are projected to become cheaper. Meat and seafood have seen sharp increases in recent years, but a shift away from eating meat […]

How did Black Friday eclipse Boxing Day in Canada?

The once-uniquely American shopping tradition of Black Friday is now bigger in Canada than Boxing Day. That’s according to the Retail Council of Canada’s (RCC) annual Holiday Shopping Survey, which showed that 40 per cent of Canadian consumers plan to open their wallets on the day after American Thanksgiving compared to the 35 per cent who plan […]