California pot regulators struggling with job, audit says

California pot regulators struggling with job, audit says
LOS ANGELES — The agency overseeing California’s legal marijuana market has been overmatched by the job and is struggling to hire sufficient staff and set an overall strategy, an audit found. The Bureau of Cannabis Control is authorized to hire 219 people, but only 75 positions have been filled, according to an audit by the state Finance Department. While the... Read More

Netflix’s subscriber growth tapers off in 2Q, stock tanks

Netflix’s subscriber growth tapers off in 2Q, stock tanks
SAN FRANCISCO — Netflix’s video streaming service suffered a dramatic slowdown in growth during its traditionally sluggish spring season, a drop-off coming as the company boosts its prices and girds for even stiffer competition. The service picked up 2.7 million worldwide subscribers for the April-June period. That’s far below Netflix’s forecast of 5 million subscribers. The second-quarter letdown announced Wednesday... Read More

Kinder Morgan Canada income falls despite rise in pipeline and terminals revenue

Kinder Morgan Canada income falls despite rise in pipeline and terminals revenue
CALGARY — Kinder Morgan Canada Ltd. is reporting second-quarter income from continuing operations of $21.6 million, a decrease of $1.9 million from the second quarter of 2018. Earnings were boosted in the second quarter of 2018 by the gain on the sale of an Edmonton area pipeline segment, resulting in an apparent five per cent decline in the recent period.... Read More

Natural gas producers demand government action in open letter to Kenney

Natural gas producers demand government action in open letter to Kenney
CALGARY — The CEOs of nine Alberta natural gas producers have released an open letter to Premier Jason Kenney asking him to show “bold leadership” in supporting a plan to restrict production to boost low gas prices. The letter warns that the viability of the natural gas sector is in jeopardy and the province faces a high likelihood of corporate failures, job losses... Read More

TSX falls for a second day despite gold futures hitting six-year high

TSX falls for a second day despite gold futures hitting six-year high
TORONTO — Weakness in the industrials and energy sectors pushed Canada’s main stock index lower despite the impact of gold futures hitting a new six-year high. The S&P/TSX composite index closed down 18.21 points at 16,484.21. In New York, the Dow Jones industrial average was down 115.78 points at 27,219.85. The S&P 500 index was down 19.62 points at 2,984.42, while... Read More

Users of popular FaceApp should be wary of terms of use, experts say

Users of popular FaceApp should be wary of terms of use, experts say
TORONTO — A social media flood of pictures of computer-aged celebrities, including Drake and Stephen Colbert, has boosted the popularity of the “FaceApp Challenge,” but also has privacy experts raising concerns about the image-altering service’s expansive terms of use. The app, which offers a range of facial image manipulations from adding facial hair to changing genders and age, has terms of use that include granting the rights to reproduce, modify, publish and share photos and other user content. Privacy expert... Read More

North American stocks down in late-morning trading, loonie edges lower

North American stocks down in late-morning trading, loonie edges lower
TORONTO — Canada’s main stock index edged lower in late-morning trading, weighed down by losses in the industrials sector and energy stocks. The S&P/TSX composite index was down 5.77 points at 16,496.65. In New York, the Dow Jones industrial average was down 41.35 points at 27,294.28. The S&P 500 index was down 7.72 points at 2,996.32, while the Nasdaq composite... Read More

Top French minister resigns over alleged lavish lifestyle

Top French minister resigns over alleged lavish lifestyle
PARIS — The No. 2 official in the French government resigned Tuesday following media reports that he has been living a lavish lifestyle at taxpayer expense, including hosting lobster and Champagne soirees and ordering up exorbitant renovations of his ministerial apartment. With the French yellow vest backlash against the elite political system still fresh in the public mind, support for... Read More

Aimia sues former president over trade secrets allegedly emailed to his father

Aimia sues former president over trade secrets allegedly emailed to his father
MONTREAL — Aimia Inc. is suing its former president in a U.S. court after Nathaniel Felsher allegedly emailed trade secrets to his father, a New York-based investment adviser. The lawsuit claims Felsher sent emails that included confidential drafts of a bid from a potential buyer to his father last October, after Aimia announced a tentative deal to sell its flagship Aeroplan rewards program... Read More

Powell says financial crisis accelerated economic changes

Powell says financial crisis accelerated economic changes
WASHINGTON — Federal Reserve Chairman Jerome Powell said Tuesday that the 2008 financial crisis accelerated major changes in the U.S. and global economies, leading to slower growth, lower inflation and lower interest rates. Delivering remarks to a Paris economic conference, Powell said that since the depths of the Great Recession in 2008 and early 2009, growth and inflation in the... Read More