Business

OPEC set to prolong oil output cuts by nine months

OPEC is likely to extend production cuts for another nine months, ministers and delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. OPEC’s top producer, Saudi Arabia, favours extending the output curbs by nine months rather than the initially planned six months, as it seeks to speed ...

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In Bombardier fight, Boeing sees ghost of Airbus ascent

Two words underpin Boeing’s decision to launch a U.S. trade complaint against Bombardier, which plunged it into a row with Canada last week: “Never again”. Allegations that the Canadian firm dumped newly designed CSeries passenger jets in the United States at a steep loss have threatened a sale of F/A-18 warplanes to Ottawa, sending Boeing scrambling to save the deal. ...

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1st Trump budget chops food stamps, Medicaid while boosting defense & infrastructure spending

President Donald Trump Tuesday is unveiling a $4.1 trillion spending plan that relies on faster economic growth and steep cuts to programs for the poor in a bid to balance the government’s books over the next decade. The proposed 2018 budget was already under attack by Democrats and even some of GOP allies declared it dead on arrival. The proposal ...

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A 10% mortgage hike would sink almost three quarters of homeowners, Manulife says

Nearly three quarters of Canadian homeowners say they would have difficulty paying their mortgage if their payments were to increase by more than 10 per cent, says a new survey by Manulife Bank. Thirty-eight per cent of those polled say their mortgage bills could rise between one to five per cent before they would have financial difficulty; 20 per cent ...

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Is your condo board above board? Tips for evaluating condo governance

Condominium governance is in the spotlight after an investigation by CBC Toronto reporters unveiled questionable practices at a series of downtown Toronto buildings. Owners and property managers in those buildings say a group of people have aggressively sought control of the boards and budgets of multiple condos. The allegations include voting irregularities and contentious contracts. If you’re wondering whether your ...

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No desk of your own: The office plan of the future?

Imagine coming to work every day and not being sure where to sit. You don’t have a desk — instead, you need to figure out what’s ahead in your day and what type of space you need, and then find a spot. That’s life at the new Toronto headquarters of consulting firm Deloitte. “There are about 18 different types of workstations on any ...

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Dakota Access pipeline spilled 380 litres of oil from 2 leaks in March

The Canadian Press Posted: May 22, 2017 3:13 PM ET Last Updated: May 22, 2017 3:13 PM ET The Dakota Access pipeline system leaked more than 380 litres of oil in two separate incidents in North Dakota in March as crews prepared the pipeline for operation. They’re the $3.8 billion pipeline’s second and third known leaks. A state Health Department database ...

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Canadian banks set to reveal 1st earnings since CBC coverage on sales practices

The Canadian banks are expected to benefit from rising U.S. interest rates and fewer bad loans in the oilpatch as they start reporting their latest quarterly results this week, but analysts say worries about the housing market and consumer debt remain key concerns. “The reality is that given all of the fears about the Canadian mortgage market, I think that ...

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U.S. stocks higher Monday while TSX closed for May holiday weekend

U.S. stocks are higher Monday as the market bounces back from a turbulent week. Defence contractors are making gains and technology and consumer-focused companies are also rising. Ford is up after it replaced CEO Mark Fields, while chemicals maker Huntsman is rising after it agreed to combine with Swiss competitor Clariant. The Standard & Poor’s 500 index rose 6 points, ...

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Ford replaces CEO in push to transform business

Ford Motor Co. is replacing CEO Mark Fields amid questions about its current performance and future strategy, according to a person familiar with the situation. CEO Mark Fields is retiring at age 56 after 28 years at the company, says this person, who spoke on condition of anonymity because the official announcement hasn’t been made. Fields will be replaced by ...

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