General Electric to spin off health-care unit, divest Baker Hughes stake

General Electric Co. said on Tuesday it will spin off its health-care business and divest its stake in oil-services firm Baker Hughes, effectively breaking up the 126-year-old conglomerate which was once the most valuable U.S. corporation and a global symbol of American business power. The slimmed-down company will focus on jet engines, power plants and […]

Get ready for auto tariffs, U.S. congressman warns

U.S. President Donald Trump isn’t playing around — and Canada should brace itself for new tariffs on autos, U.S. Congressman Kevin Cramer warned this week. “We have to take him at his word,” Cramer, a Republican from North Dakota, told CBC Radio’s The House on Friday. Trump simultaneously withdrew his government’s approval of the G7 communiqué and floated the idea of slapping 25 […]

Freeland says Canada expects ‘moments of drama’ from U.S. as Trump renews attack on Trudeau

Foreign Affairs Minister Chrystia Freeland said today Canada expects “moments of drama” from Washington and will remain calm when they happen — even after President Donald Trump expanded his verbal assault against Prime Minister Justin Trudeau to include a warning for “the people of Canada.” Trump told a news conference in Singapore Tuesday that he was surprised by […]

U.S. reaches deal with Chinese telecom giant ZTE, say Commerce Secretary Ross

The United States has reached a deal with Chinese telecommunications giant ZTE Corp. that includes a $1 billion fine, according to Commerce Secretary Wilbur Ross. The fine comes on top of the roughly $1 billion ZTE has already paid for selling equipment to North Korea and Iran in violation of U.S. sanctions. Ross, speaking on […]

Year-over-year housing sales in Greater Toronto Area down 22.2 per cent in May

The Toronto Real Estate Board (TREB) reports that May housing sales in the Greater Toronto Area were down 22.2 per compared to May of last year. TREB says that while the number of sales was down year-over-year to 7,834 units, the annual rate of decline was less than reported in February, March and April, when […]

‘Amazing’ Manitoba double-data offers spark questions over why only some provinces get the best phone deals

While many Manitobans are revelling in a double-data phone deal, Canadians elsewhere are left wondering why they can’t get the same offer. “It kind of ticked me off,” said Pete Jansen, of Richmond, B.C. “The rest of the country gets shafted and we’re paying all these exorbitant prices.” Across Canada, mobile phone plan prices tend […]

BRP shares hit all-time high on record first quarter results, raised outlook

Recreational vehicle maker BRP Inc. shares hit an all-time high Thursday after it posted record results in the first quarter that prompted it to boost the outlook for the coming fiscal year. The Quebec-based company’s shares hit $62.08 before falling slightly to close at $60.40, up $3.33 or 5.8 per cent in Thursday trading on […]

What 2 small Canadian steelmakers think of this week’s tariff outbreak

The first skirmishes of an unexpected trade war between Canada and the United States are underway. And while the ultimate impact is still hard to predict, two Canadian companies on the front lines expect collateral damage on both sides. Jon Hobbs, president of AltaSteel, a Canadian company that produces about 300,000 tonnes of hot-rolled steel […]