Business

Steven Mnuchin, Trump’s treasury nominee, grilled by Senate about banking record

U.S. president-elect Donald Trump’s choice for treasury secretary, Steven Mnuchin, defended his banking record in the aftermath of the financial crisis on Thursday, and tried to sell senators on why he should be given stewardship of the U.S. financial system. Elsewhere, Rick Perry, Trump’s pick to run the Energy Department, faced questions at a Washington, D.C., hearing about creating jobs in the industry and bolstering ...

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World oil demand rising in wake of production cuts: IEA

World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised, the International Energy Agency said on Thursday. In its monthly oil market report, the IEA said output cuts announced by the Organization of the Petroleum Exporting Countries and 11 non-OPEC producers in ...

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Netflix streaming numbers grow as DVD-by-mail service wanes

​Originally cast in a starring role, Netflix’s original DVD-by-mail service has been reduced to a bit player — one that may eventually get killed off as the company focuses on its booming video streaming service. Netflix’s fourth-quarter earnings report released Wednesday provided the latest glimpse at the DVD service’s descent into oblivion as the streaming service hogs the spotlight. The ...

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Galen G. Weston succeeds father as George Weston CEO

New Will remain CEO of Loblaw Companies The Canadian Press Posted: Jan 19, 2017 8:12 AM ET Last Updated: Jan 19, 2017 8:29 AM ET Related Stories Galen G. Weston has been appointed CEO of George Weston Ltd., a role that his father held for decades before stepping aside several years ago as part of a staged succession plan at ...

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Quebec minimum wage to go up to $11.25

Quebec’s minimum wage workers will see a slightly bigger paycheque starting this spring. The minimum will go up by 50 cents in May, bringing the total to $11.25 per hour, Radio-Canada has confirmed. Labour Minister Dominique Vien is expected to make the announcement this morning. It will be the first of several increases to bring minimum wage up to $12.45 per ...

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Could the oilsands really be phased out? Here are the possibilities

The question of whether Canada should phase out oilsands production seems to have an easy answer, depending on whom you ask. It is either a ridiculous idea, or a ridiculously obvious one. Does Canada care about its economy, or does it care about meeting its Paris climate objectives? Prime Minister Trudeau has walked back his comments from last week, saying that the oilsands are a resource that ...

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Air Transat to test taxiing system that could cut emissions

Air Transat is planning to test and deploy a new system next year that would allow an aircraft to taxi from the runway to the gate without having to use a plane’s engine, thereby cutting operating costs and greenhouse gas emissions. The Montreal-based carrier would be the world’s first airline to use the WheelTug system, according to the company that ...

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