Google spinoff to test fully driverless cars in California

Google spinoff to test fully driverless cars in California
SAN FRANCISCO — Google’s robotic car spin-off Waymo is poised to become the first to test fully driverless vehicles on California’s public roads. The regulatory approval clearing the cars to begin navigating the state’s highways and streets without a backup human driver behind the wheel comes nearly a decade after Waymo began as a secretive project within Google. Its fully... Read More

Toronto and U.S. stock markets close higher, loonie edges lower

Toronto and U.S. stock markets close higher, loonie edges lower
TORONTO — The industrials sector lead a broad rally in Canada’s main stock index Tuesday that saw it join gains of more than one per cent in major U.S. markets. The gains across North American markets came after a rocky stretch in recent weeks as investors digest a changing reality for equity, Candice Bangsund, portfolio manager for Fiera Capital. “We’re in sort of a... Read More

Energy giant BP says 3Q earnings more than double

Energy giant BP says 3Q earnings more than double
LONDON — Energy giant BP says third-quarter earnings more than doubled as it reaped the benefits of higher oil prices and streamlined operations. Underlying replacement cost profit jumped to $3.84 billion, the highest quarterly figure in five years, from $1.87 billion in the same quarter last year. The figure, which excludes one-time items and fluctuations in the value of inventories,... Read More

SNC asks court to review federal decision excluding it from remediation regime

SNC asks court to review federal decision excluding it from remediation regime
MONTREAL — Arguing that federal prosecutors unreasonably excluded SNC-Lavalin Group Inc. from negotiating an agreement that could have resolved corruption and fraud charges before trial, the company has filed for a judicial review of the decision. On Oct. 10, the engineering giant announced that the Public Prosecution Service of Canada had declined to “invite” it take part in a remediation regime introduced in the Criminal... Read More

CN Rail buying trucking company TransX, terms of the deal not disclosed

CN Rail buying trucking company TransX, terms of the deal not disclosed
MONTREAL — Canadian National Railway Co. has signed a deal to acquire the Winnipeg-based TransX Group of Companies. Financial terms of the deal for the privately owned trucking firm were not disclosed. CN chief executive JJ Ruest says the deal will help strengthen the company’s intermodal business, notably the refrigerated segment. The companies say TransX will continue to be based in... Read More

WestJet Airlines reports $45.3M Q3 profit, down from $135.9M a year ago

WestJet Airlines reports $45.3M Q3 profit, down from $135.9M a year ago
CALGARY — WestJet Airlines Ltd. reported a third-quarter profit of $45.9 million, down from a profit of $135.9 million in the same quarter last year amid rising fuel prices. The airline says the profit amounted to 40 cents per diluted share for the quarter ended Sept. 30, compared with $1.15 per diluted share a year ago. Revenue totalled $1.26 billion... Read More

Toronto and U.S. stock markets traded higher at late-morning, loonie edges lower

Toronto and U.S. stock markets traded higher at late-morning, loonie edges lower
TORONTO — The industrials sector helped Canada’s main stock index edge up in late-morning trading, while U.S. markets also traded higher following solid earnings from several big U.S. companies. The S&P/TSX composite index was up 22.57 points at 14,744.32. In New York, the Dow Jones industrial average was up 151.85 points at 24,594.77. The S&P 500 index was up 9.90... Read More

Sony quarterly profit rises on games, financial services

Sony quarterly profit rises on games, financial services
TOKYO — Japanese electronics and entertainment company Sony Corp.’s net profit rose 32 per cent in the last quarter, helped by healthy video game sales and its financial services business, the company said Tuesday. Tokyo-based Sony’s profit totalled 173 billion yen ($1.5 billion) in July-September, up from 131 billion yen the year before. Quarterly sales totalled 2.18 trillion yen ($19.3... Read More