Liberals tap economic adviser Dominic Barton as new ambassador to China

Liberals tap economic adviser Dominic Barton as new ambassador to China
OTTAWA — Dominic Barton brings to his new job as Canada’s ambassador to China the acumen of a savvy, globe-trotting business consultant with an enriched understanding of how to properly grease wheels and make profitable deals. Barton’s success in the new job will be measured by his ability to negotiate one straightforward transaction: persuade Beijing’s communist leaders to release imprisoned... Read More

Watchdog looks into anti-competition practices in the digital economy

Watchdog looks into anti-competition practices in the digital economy
OTTAWA — Canada’s competition watchdog wants information on what companies in the digital economy may be doing to harm competition. The Competition Bureau is asking businesses and other interested parties to provide it with information on strategies firms may use to hinder competition in some core digital markets, like online search, social media, display advertising and online marketplaces. The move... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,448.84, up 49.61 points). The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down 58 cents, or 16.52 per cent, to $2.93 on 8.5 million shares. Suncor Energy Inc. (TSX:SU). Energy. Up four cents, or 0.1 per cent, to $38.37 on 6.7 million shares. Cenovus Energy... Read More

Desjardins head says new mindset needed to tackle global challenges

Desjardins head says new mindset needed to tackle global challenges
TORONTO — The head of the Desjardins financial group says many of the world’s biggest problems are symptoms of widespread short-term thinking. Speaking at the Toronto Global Forum, Desjardins chief executive Guy Cormier called for a shift to a longer term mindset to deal with issues such as climate change, trade disputes, and inequality. His remarks during a panel discussion on the... Read More

Canadian bank CEOs signal slower growth ahead amid trade tensions, falling rates

Canadian bank CEOs signal slower growth ahead amid trade tensions, falling rates
TORONTO — The top executives of Canada’s biggest banks say investors can expect slower growth thanks to looming trade tensions and America’s falling interest rates, but the lenders remain confident they’ll be able to adapt to the quickly changing macroeconomic environment. CIBC’s chief executive Victor Dodig told an industry conference in Toronto today that the lenders are operating in “unprecedented” times and people... Read More

Interfor closes B.C. sawmill in latest blow for troubled lumber industry

Interfor closes B.C. sawmill in latest blow for troubled lumber industry
VANCOUVER — Interfor Corp. plans to permanently close its Hammond sawmill in Maple Ridge, B.C., affecting more than 100 workers. The Vancouver-based company says the closure is part of a reorganization of its forestry and woodlands operations amid tight supplies of logs for processing. It says the shutdown will be complete by the end of 2019, after the mill’s remaining... Read More

North American stock markets trade higher, energy sector boosts Toronto

North American stock markets trade higher, energy sector boosts Toronto
TORONTO — Canada’s main stock index headed higher in late-morning trading, helped by the energy sector as the price of oil gained ground. The S&P/TSX composite index was up 64.76 points at 16,463.99. In New York, the Dow Jones industrial average was up 177.99 points at 26,296.01. The S&P 500 index was up 21.18 points at 2,927.45, while the Nasdaq... Read More

Vancouver area home prices fall in August, number of sales up from year earlier

Vancouver area home prices fall in August, number of sales up from year earlier
VANCOUVER — The number of homes sold in the Greater Vancouver area was up in August compared with a year ago, but benchmark prices for the major categories of housing was down, the region’s real estate board says. The Real Estate Board of Greater Vancouver says there were 2,231 home sales last month, up 15.7 per cent from 1,929 in August 2018.... Read More

Bank of Canada holds interest rate as it takes stock of trade war impacts

Bank of Canada holds interest rate as it takes stock of trade war impacts
OTTAWA — The Bank of Canada is holding steady on interest rates as it gauges the extent of the damage that deepening trade conflicts have had on the domestic and global economies. The rate decision Wednesday, which was widely expected, kept the central bank’s overnight rate at 1.75 per cent and followed a solid second-quarter rebound for the Canadian economy. But the bank’s accompanying policy statement said some of the strength seen earlier... Read More

YouTube to pay $170M fine after violating kids’ privacy law

YouTube to pay $170M fine after violating kids’ privacy law
WASHINGTON — The Federal Trade Commission is fining Google’s video site YouTube $136 million to settle allegations it collected children’s personal data without their parents’ consent. Google will pay an additional $34 million to New York state to resolve similar allegations brought by the state’s attorney general. The fine marks the largest the FTC has levelled against Google, although it’s... Read More