European stocks, banks gain after Brexit deal defeat while U.K. shares lag

British shares lagged Europe slightly on Wednesday after Prime Minister Theresa May’s resounding defeat in a parliamentary vote on her Brexit deal, but in the face of continuing political uncertainty investors focused on results and M&A news. A defeat had largely been priced in already, though its magnitude came as a surprise. Analysts and investors […]

Sears staves off liquidation, U.S. stores to remain open

Sears will live on — at least for now. The company’s chairman and largest shareholder, Eddie Lampert, won a bankruptcy auction for Sears, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they were not authorized to discuss the negotiation […]

Fed will be patient with rate hikes, Jerome Powell says

Federal Reserve Chairman Jerome Powell says the central bank will be “patient and flexible” in determining when to hike interest rates. Speaking to an audience in Washington, Powell delivered a message of relief to stock market investors who have seen volatile swings up and down since last month, when the central bank raised the top end of […]

Ottawa offers $1.6B backstop for energy sector as political tensions with Alberta fester

The federal government is promising more than $1.6 billion — most of it in commercial loans —  to support the ailing energy sector, as political tensions in the Ottawa-Alberta relationship simmer. Natural Resources Minister Amarjeet Sohi and International Trade Diversification Minister Jim Carr made the announcement in Edmonton this morning. The bulk of the money […]

Couche-Tard to swap U.S. convenience stores and gas stations with CrossAmerica

Alimentation Couche-Tard Inc. and CrossAmerica Partners LP have signed a deal to swap convenience and gas station assets in the United States. Under the agreement, Couche-Tard has agreed to sell 192 U.S. convenience and fuel retail stores to CrossAmerica, with an aggregate value of about $184.5 million US. Meanwhile, CrossAmerica has agreed to sell to […]

Malaysia files criminal charges against Goldman Sachs, ex-bankers in 1MDB probe

Malaysia said on Monday it has filed criminal charges at home against Goldman Sachs and two of the U.S. bank’s former employees in connection with a corruption and money laundering probe at state fund 1MDB. Goldman Sachs has been under scrutiny for its role in helping raise $6.5 billion US through three bond offerings for […]

Growing security fears hobble global ambitions of Chinese tech giant Huawei

While a Huawei executive faces possible U.S. charges over trade with Iran, the Chinese tech giant’s ambition to be a leader in next-generation telecoms is colliding with security worries abroad. Australia and New Zealand have barred Huawei Technologies Ltd. as a supplier for fifth-generation networks. They joined the United States and Taiwan, which limit use […]

Apple to open $1B campus in Austin, Texas

Apple will build a $1 billion campus in Austin, Texas, break ground on smaller locations in Seattle, San Diego and Culver City, California, and over the next three years will expand in Pittsburgh, New York and Colorado. The tech giant said Thursday that the new campus in Austin, less than a mile from existing Apple […]

Sask. construction industry loses 14,000 jobs over 3 years, association says

Trevor Stein’s company spent nearly a year wiring new apartment complexes in Saskatoon’s Stonebridge neighbourhood. After Stein invoiced the owner, Block 1, for more than a million dollars for wages and materials, he learned the British Columbia real estate company was seeking creditor protection. The company never did pay him or a number of other local […]