Tuesday, July 7, 2015

Business

Ontario debt rating downgraded by S&P; cites budgetary ‘underperformance’

TORONTO — Standard & Poor’s has lowered Ontario’s financial rating to A+ from AA-, citing its heavy debt burden and budgetary “underperformance” compared with peers in other jurisdictions.

Ontario power workers ratify three-year ‘net-zero’ deal with Hydro One

TORONTO — Power workers in Ontario have ratified a new three-year collective agreement with publicly owned utility Hydro One.
The Power Workers Union agreement comes as the Liberal government prepares to sell 60 per cent of the giant utility.

Canadian tribunal agrees domestic solar module makers at risk from China imports

TORONTO — Canada’s smaller solar module manufacturers are applauding a favourable decision from the Canadian International Trade Tribunal, which has ruled that low-price imports from China pose a significant threat to the domestic industry.

BP agrees to record settlement, estimates total cost of Gulf spill will reach $53.8 billion

NEW ORLEANS — Trying to close the books on the worst offshore oil spill in U.S. history, BP agreed Thursday to provide billions of dollars in new money to five Gulf Coast states in a deal the company said would bring its full obligations to an estimated $53.8 billion.

’Party like it’s 2014!’ Corporate Calgary cuts Stampede spending amid oil gloom

CALGARY — This time last year David Howard was getting ready to host a number of high-profile corporate parties as part of Calgary’s Stampede, but that’s not the case this time around.
“Basically, it’s gone from where last year we were producing two events a day to where we’re out of the game completely,” said Howard, president of the Event Group.

Resolute given one-year extension to regain FSC certification on Quebec land

MONTREAL — Resolute Forest Products has received a one-year extension to secure confirmation from an independent auditor that it is using responsible forestry management practices in an area of Quebec’s Lac-St-Jean region.

Macy’s dumps Donald Trump, Miss USA performers, judges defect

NEW YORK — Rapper Flo Rida, the Macy’s department store chain and HGTV “Property Brothers” star Jonathan Scott all had something in common on Wednesday: They’re the latest to distance themselves from Donald Trump following his remarks about Mexican immigrants.

Environmental groups pressure Dayton to wade into debate on copper, nickel mine in Minnesota

ST. PAUL, Minn. — Environmental advocates trying to stop a proposed copper-nickel mine in northeastern Minnesota launched an ad campaign on Monday aimed not at the company behind the project but at Gov. Mark Dayton, hoping to persuade the Democrat to require stronger environmental protections.

NBC says it will sever ties with Donald Trump after comments on Mexicans

NEW YORK — NBC said Monday that it is ending its business relationship with mogul and GOP presidential candidate Donald Trump because of comments he made about Mexican immigrants during the announcement of his campaign.

Expanding tax-free-savings limit offers little for lower, middle earners: study

OTTAWA — The Harper government’s recent move to raise the contribution ceiling on tax-free savings accounts offers little to benefit low- and middle-income Canadians, a new analysis of federal tax data has found.

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