China virus outbreak rams global tourism, costing billions

China virus outbreak rams global tourism, costing billions
Business around the world that have grown increasingly reliant on big-spending tourists from China are taking a heavy hit, with tens of millions of Chinese residents restricted from leaving their country as the coronavirus spreads. Hotels, airlines, casinos and cruise operators were among the industries suffering the most immediate repercussions, especially with the outbreak occurring during the Lunar New Year,... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (17,442.52, down 122.82 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.64 per cent, to $1.20 on 11.4 million shares. Baytex Energy Corp. (TSX:BTE). Energy. Down six cents, or 3.92 per cent, to $1.47 on 7.4 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Down 70 cents, or... Read More

TSX has worst day in nearly four months on concerns about coronavirus impact

TSX has worst day in nearly four months on concerns about coronavirus impact
TORONTO — Canada’s main stock index had its worst day in nearly four months as stock markets around the world tumbled on worries that economic growth will be hurt by the effects of the coronavirus from China. The S&P/TSX composite index closed down 122.82 points at 17,442.52. In New York, the Dow Jones industrial average was down 453.98 points at 28,535.80. The S&P... Read More

Labatt acquires B.C. distillery known for ready-to-drink alcoholic beverages

Labatt acquires B.C. distillery known for ready-to-drink alcoholic beverages
TORONTO — Labatt Breweries of Canada has acquired a Delta, B.C.-based distillery known for its ready-to-drink alcoholic beverages — a growing segment in a struggling beer market. Labatt says it has acquired Goodridge & Williams Distillery, which makes the Nutrl vodka and vodka soda drinks, along with several other spirits and ready-to-drink canned cocktails. Labatt says the distillery will continue to... Read More

Prince Andrew called unco-operative in Jeffrey Epstein probe

Prince Andrew called unco-operative in Jeffrey Epstein probe
NEW YORK — A U.S. prosecutor overseeing the Jeffrey Epstein sex trafficking investigation said Monday that Britain’s Prince Andrew has been unco-operative in the inquiry so far. Speaking at a news conference outside Epstein’s New York mansion, U.S. Attorney Geoffrey Berman, the top federal prosecutor in Manhattan, said prosecutors and the FBI had contacted Prince Andrew’s lawyers and asked to... Read More

Technology, data, starting to transform commercial real estate: survey

Technology, data, starting to transform commercial real estate: survey
TORONTO — A new report says technology and data are finally shaking up the world of commercial real estate, allowing the industry to make more informed decisions and take on more complex projects. Toronto-based Altus Group says a majority of 400 global commercial real estate executives surveyed are now seeing the disruptive impact of technology on the property sector for... Read More

North American stock markets tumble as China increases coronavirus numbers

North American stock markets tumble as China increases coronavirus numbers
TORONTO — Stock markets fell in early trading after China raised the number of people infected with a potentially deadly virus and extended its Lunar New Year public holiday as a precaution against having the disease spread still further. The S&P/TSX composite index was down 147.89 points at 17,417.45. In New York, the Dow Jones industrial average was down 425.04 points... Read More

Alan Kestenbaum to return as chief executive of Stelco Holdings Inc.

Alan Kestenbaum to return as chief executive of Stelco Holdings Inc.
HAMILTON — Stelco Holdings Inc. says Alan Kestenbaum will return as the company’s chief executive. Kestenbaum will return to the job effective Feb. 21. He will replace David Cheney, who is stepping down and returning to Bedrock Industries. Kestenbaum previously served as Stelco’s chief executive from the closing of Stelco’s initial public offering in November 2017 until February 2019. He is currently acting... Read More

Update on the latest in business:

Update on the latest in business:
FINANCIAL MARKETS Asian stocks fall as virus fears spook markets, hit tourism BANGKOK (AP) — Shares tumbled today in the few Asian markets open as China announced sharp increases in the number of people affected in an outbreak of a potentially deadly virus. Many regional markets, including China’s, were closed in Asia for Lunar New Year holidays. Tokyo’s Nikkei sank... Read More