Canada’s multibillion-dollar national shipbuilding strategy, at a glance

Canada’s multibillion-dollar national shipbuilding strategy, at a glance
OTTAWA — The federal government announced $1.5 billion in contracts — $1 billion worth finalized and another worth $500 million to come — Tuesday to keep a dozen warships running for another 20 years as part of Canada’s decades-long, multibillion-dollar national shipbuilding strategy. What is the national shipbuilding strategy? The strategy, launched in 2010 by the then-Conservative government, is to supply new vessels — for both combat and... Read More

FortisBC signs term contract to send LNG by shipping container to Chinese client

FortisBC signs term contract to send LNG by shipping container to Chinese client
FortisBC says it has signed its first term contract to send liquefied natural gas shipments to China from its facility near Vancouver. The utility company, which has operated its Tilbury LNG facility since 1971, says a recent expansion made possible its two-year contract to ship 53,000 tonnes per year by the summer of 2021 to Chinese LNG distributor Top Speed Energy Corp. The division of St.... Read More

CP Rail rakes in record second-quarter revenue as traffic increases

CP Rail rakes in record second-quarter revenue as traffic increases
MONTREAL — Canadian Pacific Railway Ltd. says it earned record second-quarter revenues of nearly $2 billion, driven by a leap in traffic across the board to beat analysts’ expectations. The Calgary-based company says its net income jumped more than two-thirds to $724 million or $5.17 per diluted share in the quarter ended June 30, compared with $436 million or $3.04... Read More

Updated air passenger rights protections come into effect Monday

Updated air passenger rights protections come into effect Monday
MONTREAL — Airlines now have to reimburse passengers for flight bumping and damaged luggage as part of a package of new protections that took effect today. The regulations require prompt updates and clear communication with passengers about their rights if their flight is delayed or cancelled. Travellers can receive up to $2,400 if bumped from a flight and up to $2,100 for lost or damaged luggage. In the... Read More

Aimia names two new directors with investment banking experience to its board

Aimia names two new directors with investment banking experience to its board
MONTREAL — Aimia Inc. has named two new independent directors with investment banking experience to its board. The loyalty rewards company says it has added Dieter Jentsch and Frederick Mifflin to its board, effective immediately. Jentsch is a former Scotiabank executive who most recently served as group head of global banking and markets, where he oversaw the bank’s corporate and investment... Read More

Search on for prominent businessman, son after helicopter goes missing in Quebec

Search on for prominent businessman, son after helicopter goes missing in Quebec
MONTREAL — A search is under way for a prominent Quebec businessman and his son, who did not return from a fishing trip in northern Quebec as planned. Sagami Inc., a giant in the greenhouse tomato industry, says in a statement that everything is being done to ensure its president, Stephane Roy, and his son are found safe. The two were expected to return... Read More

AP Source: VW investing $2.6B in Ford-owned robocar firm

AP Source: VW investing $2.6B in Ford-owned robocar firm
DETROIT — Volkswagen will sink $2.6 billion into a Pittsburgh autonomous vehicle company that’s mostly owned by Ford as part of a broader partnership with the U.S. No. 2 automaker, according to a person briefed on the matter. The German and U.S. manufacturers will co-operate on the development of electric vehicles, the automakers will announce Friday in New York. The... Read More

Amazon, seeking more skilled workers, will do the training

Amazon, seeking more skilled workers, will do the training
NEW YORK — Amazon, needing a more tech-savvy workforce, is offering to pay to retrain its employees and help them switch to more technical jobs at Amazon or elsewhere. The online shopping giant said Thursday that it plans to spend $700 million by 2025 to retrain 100,000 workers, or a third of its U.S. workforce. The initiative could help Amazon... Read More

Multiple injuries aboard Air Canada flight after plane hits turbulence

Multiple injuries aboard Air Canada flight after plane hits turbulence
MONTREAL — Nearly three dozen passengers sustained minor injuries Thursday when an Air Canada flight travelling from Toronto to Sydney, Australia, ran into severe turbulence, prompting an emergency landing in Honolulu. The airline says Flight AC33, which made a scheduled stopover in Vancouver Wednesday night, was about two hours past Hawaii over the Pacific Ocean when the conditions triggered a turnaround, resulting in 35 injuries.... Read More

Boeing deliveries of 737 tumble in 2nd quarter

Boeing deliveries of 737 tumble in 2nd quarter
CHICAGO — Deliveries of Boeing’s 737 aircraft tumbled in the second quarter, as the company continues to deal with repercussions following two deadly crashes. Boeing said Tuesday that it delivered 24 737s in the second quarter, down sharply from the 89 delivered in the first quarter. The announcement comes a day after Boeing said Saudi airline Flyadeal, the budget airline... Read More