Uber loses $1.1B investing in food delivery, driverless cars

Uber loses $1.1B investing in food delivery, driverless cars
NEW YORK — Uber is still losing money as it expands its food delivery business and develops technology for driverless cars. But revenue for its rides business nearly tripled in the final three months of last year as the company picked up more passengers around the world. That prompted it to say it will turn a profit earlier than it... Read More

Netflix finally gives subscribers the ability to shut off auto-play

Netflix finally gives subscribers the ability to shut off auto-play
TORONTO — Netflix is finally letting viewers turn off the auto-play preview function. The much-maligned feature, which forced viewers to watch clips and trailers of movies as they browsed the platform’s titles, can now be disabled under account settings. It’s a feature that subscribers have begged the company for in order to give them control. The backlash over auto-play intensified a number of... Read More

Mayors pitch transit to win dollars in Liberals’ green-themed budget

Mayors pitch transit to win dollars in Liberals’ green-themed budget
OTTAWA — The mayors of Canada’s biggest cities are pressing the federal government for immediate money to address climate change, as well as a promise of predictable transit funding down the tracks. Finance Minister Bill Morneau, who met with the mayors Thursday, has billed the coming federal budget as one with an environmental focus. Edmonton Mayor Don Iveson, who chairs... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (17,757.49, up 105.90 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 2.72 per cent, to $1.43 on 15.3 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 40 cents, or 0.72 per cent, to $55.98 on 10.6 million shares. Suncor Energy Inc. (TSX:SU). Energy. Down $1.51, or... Read More

North American stock markets set record highs after Chinese cut tariffs in half

North American stock markets set record highs after Chinese cut tariffs in half
TORONTO — North American stock markets marched to record highs on dissipating virus risks and China saying it would cut tariffs on U.S. imports in half. The S&P/TSX composite index closed up 105.90 points to a record close of 17,757.49. In New York, the Dow Jones industrial average was up 88.92 points at 29,379.77. The S&P 500 index was up 11.09 points at 3,345.78,... Read More

Semafo restarts work at processing plant in Burkina Faso after deadly attack

Semafo restarts work at processing plant in Burkina Faso after deadly attack
MONTREAL — Gold miner Semafo Inc. says work at its Boungou processing plant in Burkina Faso has restarted after a deadly attack against its workers halted operations last year. Gunmen attacked a bus convoy of 241 workers on the road to the gold mine in November last year, killing 39 people and injuring at least 60 others. Semafo says that... Read More

Ontario task force to recommend capital markets regulation changes

Ontario task force to recommend capital markets regulation changes
TORONTO — The province has appointed a task force to review Ontario’s capital markets regulations and recommend how they can be modernized. The Ministry of Finance says in a statement that executives with experience at Aimia Inc., Sun Life Financial Inc., GMP Securities LP, Norton Rose Fulbright and Kingsdale Advisors will form the task force. The task force will provide recommendations on... Read More

Coal sales interrupted by heavy snow, extreme cold, rain, warns Teck Resources

Coal sales interrupted by heavy snow, extreme cold, rain, warns Teck Resources
VANCOUVER — Shares in Teck Resources Ltd. fell by as much as 3.2 per cent after it warned sales of steelmaking coal in the current quarter are down due to bad weather in British Columbia. Its stock fell as low as $18.40 in trading in Toronto on Thursday, down from their $19.01 close on Wednesday. They set a 52-week high of $34.32 last... Read More

Suncor defers Montreal refinery project to focus on low-cost oilsands expansions

Suncor defers Montreal refinery project to focus on low-cost oilsands expansions
CALGARY — Suncor Energy Inc.’s on-again, off-again plan to add a coker unit to its Montreal refinery to allow it to process heavier barrels of oil, including oilsands bitumen, is off the table as it shuffles its spending priorities. The $2-billion project has been shelved as the company focuses on low-cost oilsands expansions, projects that will help reduce emissions and cost-cutting digital technologies, CEO Mark Little... Read More

Twitter shares jump on rise in user numbers, revenue

Twitter shares jump on rise in user numbers, revenue
Shares in Twitter jumped Thursday after the social media company said revenue and user numbers exceeded forecasts in the latest quarter, though profit fell as expenses rose. The San Francisco-based tech company said that fourth-quarter net income fell 53% to $119 million, or 15 cents per share. That’s down from $255 million, or 33 cents, in the same period a... Read More