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Business News Advisory

October 13, 2016 - 1:03 PM

THURSDAY, OCT. 13, 2016


Here are the CP Business Department's late plans for today. All times Eastern unless otherwise stated. Entries are subject to change as news develops. If you have any questions, please don't hesitate to email Assistant Business Editor Tara Brautigam at or the department at We can also be reached at 416-507-2138.


Deal reached to divide US$7.3B Nortel assets


TORONTO — A nearly eight-year legal battle over how to divide what remains of Nortel Networks Corp. has ended in a deal that will put a stop to legal fees eating away at the remaining US$7.3 billion pot and bring former employees and pensioners one step closer to being paid out."It's about time," said Mark Zigler, a lawyer with Toronto-based Koskie Minsky LLP, which represents a group of nearly 20,000 Canadian claimants. PHOTO. Moves National and Business. 520 words. By Linda Nguyen.


Impacts of housing rules uncertain: Morneau


TORONTO — Finance Minister Bill Morneau says it's "impossible to say with absolute clarity" what the impacts of new mortgage rules introduced by Ottawa earlier this month will be."What we expect will happen is that as people look towards taking on a mortgage, they will do what most people are already doing and ensure that they take on a mortgage that's appropriate for their situation," Morneau told reporters in Toronto Thursday. PHOTO. Moves Business and National. 340 words. By Alexandra Posadzki.


Bombardier looks to catch up in Iran: CEO


MONTREAL — Bombardier's CEO says that the company was a little late on chasing opportunities in Iran but should be able to catch up with its rivals following Canada's lifting of sanctions."We started maybe a little bit behind but I'm pretty sure we're going to be able to catch up now," Alain Bellemare said in an interview. 440 words. By Ross Marowits.


German court rejects bid to suspend CETA


BERLIN — Germany's highest court has rejected calls from opponents of a Canada-European Union trade deal for an injunction that had the potential to spell an end to the pact.The Federal constitutional Court ruled Thursday against complaints over the trade deal, known as CETA. Tens of thousands of citizens joined in two of those complaints. PHOTO. Will be writethru.


Activists urge Ontario to deny Nestle permit


TORONTO — Environmentalists are urging the Ontario government to deny Nestle a water-taking permit at a well it purchased that was also wanted by Centre Wellington, a small but fast growing community about 100 kilometres west of Toronto. The township tried to buy the well for its future drinking water supply but lost out to Nestle, which purchased the site as a backup for a well it owns at its bottling plant in nearby Aberfoyle, Ont. 690 words. By Keith Leslie.


New Brunswick seeks to appeal beer ruling


FREDERICTON — A New Brunswick judge has reserved decision on whether a cross-border beer battle with possible national implications for interprovincial trade can be appealed directly to the province's highest court.Provincial government lawyers are seeking leave to appeal the April ruling that effectively threw out limits on cross-border alcohol imports. 540 words. By Kevin Bissett.


Alberta strikes panel on oil upgrading


EDMONTON — The Alberta government has struck a panel to advise it on the best way to upgrade its energy industry.Energy Minister Marg McCuaig-Boyd said Thursday the seven-member panel will do research, talk to stakeholders and the public, and report back in a year on initiatives such as upgrading and refining. Moves on both the business and west regional wires; guard against duplication. 220 words.


Report sees hope for Canadian LNG projects


CALGARY — The Conference Board of Canada says there's still room for optimism for Canada's liquefied natural gas export industry, despite global LNG prices that are expected to remain weak for at least the next three years.Economist Carlos Murilloo says in a report that investments in new LNG facilities around the world are expected to fall off in the next few years after about US$200 billion was spent over the past decade. PHOTO. Moves Business and National; Guard against duplication. 200 words.


TransCanada offers lower price to gas shippers


CALGARY — TransCanada Corp. (TSX:TRP) is offering lower-priced long-term contracts for Alberta natural gas shippers that want to use the Canadian Mainline system that stretches across the Prairies and winds through Ontario to a hub near Sarnia, Ont.The Calgary-based company says its proposal for a new round of binding commitments doesn't affect current contracts that are already in place for the system. 170 words.


Save on investment fees with a robo-adviser


TORONTO — Like a lot of young people who want to start saving for the future, Rachel Jackson is interested in using a robo-adviser — even if she's not entirely sure how such digital investment services work.For the 27-year-old office administrator in Parry Sound, Ont., robo-advisers sound appealing because they're advertised as offering professionally managed portfolio advice at a relatively low cost. Equally enticing to her tech-savvy leanings is the fact that accounts can be conveniently set up through her smartphone within minutes. 550 words. By Craig Wong.


Stock markets lower, loonie up slightly


TORONTO — North American stock markets are lower this morning, although Toronto is outperforming its American counterparts.At the Toronto Stock Exchange, the S&P/TSX index was down 75.51 points at 14,543.46 after 90 minutes. It had been down by more than 140 points earlier in the morning. Will be updated. 400 words. By Linda Nguyen.


News from © The Canadian Press, 2016
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