Business

Brexit talks at impasse: ‘We have not gone even halfway down the road’

Leaders of Britain and the 27 other European Union members agreed Friday that much remains to be done in Brexit talks amid deep divisions about the terms of their breakup, particularly on how much London should pay in the divorce. While EU President Donald Tusk said “reports of a deadlock between the European Union and the United Kingdom have been ...

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Inflation rate rose to 1.6% in September, led by gasoline price hikes

Canada’s inflation rate rose to 1.6 per cent in September, up from 1.4 per cent the previous month, as the costs of transportation and shelter went up. Clothes, shoes and furniture, meanwhile, got cheaper in the past year, Statistics Canada said. The data agency said that transportation costs have increased by 3.8 per cent in the 12 months to September, ...

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‘Nobody was happy’: Alberta coal town Grande Cache struggles with mine closure

For the past year and a half, Clancy Feller has watched his friends and former co-workers pack up their homes and seek new opportunities anywhere else. It’s a tough move for those leaving the picturesque Rocky Mountain town of Grande Cache, Alta. But for those worried about feeding a family, there’s not much choice. “Quite a few left, walked away ...

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How super are those pricey ‘superfoods’? Marketplace puts 3 of them to the test

Coconut water, quinoa and chia have three things in common: they’re popular, they’re expensive and they’re often marketed as ultra-healthy “superfoods.” Marketplace recently reviewed the labels of nearly 100 so-called superfood products as part of an investigation to see whether the trend is actually about better health or simply marketing hype. Friday night’s episode (8 p.m. CBC, 8:30 p.m. in Newfoundland) reveals ...

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NAFTA’s demise just one potential trigger for a market crash: Don Pittis

As stock markets have continued their relentless rise, investors watch fearfully for something that could trigger a rush for the exits. Although the date fell on a Thursday this year, yesterday was the 30th anniversary of 1987’s Black Monday, when markets plunged about 23 per cent in a single session. The equivalent today would be a drop in the Dow Jones Industrial Average of more ...

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Sears Canada debacle one more reason to avoid extended warranties

When Karen Dwyer renovated the kitchen in her St. John’s home last year, she bought all new appliances from Sears and spent extra on an extended warranty for each one. “For us, with the three appliances — the dishwasher, fridge, and stove — the three-year warranty totalled about $800 dollars,” she said. Dwyer said it was the first time she ever bought an ...

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Postmedia sees Q4 profit on sale of Informart unit

Postmedia Network Inc. reported a $40.3-million profit in its latest quarter, boosted by the sale of its Infomart business. The media company said Thursday the profit amounted to 43 cents per share for the quarter ended Aug. 31 compared with a loss of $99.4 million or 35 cents per share a year ago. Revenue for the company’s fourth quarter totalled ...

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Rogers Communications sees ‘anemic’ iPhone 8 demand

The chief executive of Canada’s biggest wireless company said on Thursday that he is seeing little demand for Apple Inc.’s iPhone 8, adding to concerns about prospects for sales of the device. “What we’re seeing is sort of … anemic appetite for the iPhone 8,” Rogers Communications Inc. chief executive Joe Natale said in an quarterly earnings conference call. Customers ...

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Nissan to suspend domestic production of cars for Japan market

Nissan Motor Co. Ltd. is suspending domestic production of vehicles for the Japanese market for at least two weeks to address misconduct in its inspection procedures that led to a major recall, it said on Thursday. Japan’s second-largest automaker said it would stop production of domestic market vehicles at all six of its Japanese plants to reconfigure their inspection lines. ...

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Cenovus selling Palliser assets in Alberta to Torxen for $1.3B

Cenovus Energy Inc. says it has agreed to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for $1.3 billion. The cash sale is expected to close in the fourth quarter, subject to customary conditions. This is the latest in a string of assets the Calgary-based oilsands company has sold to reduce its ...

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