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Business News Advisory

October 14, 2016 - 12:05 PM

FRIDAY, OCT. 14, 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.


Fed mortgage changes inject uncertainty: CREA


The federal government's recent changes to mortgage lending rules have injected uncertainty into the real estate market, the president of the Canadian Real Estate Association said Friday.The measures — which include an expansion of a stress test for borrowers that takes effect Monday — could deter first-time homebuyers, said Cliff Iverson, who represents more than 100,000 real estate brokers across the country. Moves Business and National, guard against duplication. 540 words. By Alexandra Posadzki.


Canada dispatches envoy to save EU trade pact


OTTAWA — Canada has dispatched its special envoy on its trade deal with the European Union to meet leaders of the Belgian region that voted to reject the deal.Pierre Pettigrew, a former Liberal trade and foreign minister recently appointed by the current Liberal government, is off to Paris to meet representatives of Belgium's Wallonia region after its legislature voted earlier today to reject the agreement, known as CETA. PHOTO. Moves Business and National; Will be Writethru; With Five Things about Wallonia. By Mike Blanchfield.


Pipeline emergency fund proposal reduced


CALGARY — The federal government is lowering the size of a proposed emergency fund pipeline operators would be required to have on hand to deal with short-term costs of incidents such as spills.Natural Resources Canada says the fund would reduce the minimum amount of "readily available" money pipeline companies would have to have to five per cent of liability from the originally proposed 10 per cent. Moves National and Business, Guard against duplication; will be writethru. 400 words. By Dan Healing.


Non-hydro renewable power share rises to 11%


CALGARY — The National Energy Board says a building spree in non-hydroelectric renewable power projects between 2005 and 2015 took its share of overall capacity in Canada from two per cent to 11 per cent.Non-hydro renewable power such as wind, solar and biomass grew more than sixfold over that same time frame, rising from 2,360 megawatts to 15,600 MW. PHOTO. Moves National and Business; Guard against duplication. 480 words. By Dan Healing.


Late harvest delaying grain movement: CP Rail


CALGARY — Canadian Pacific Railway Ltd. (TSX:CP) says a delayed harvest means the railway has moved less Canadian grain than at this time last year or on average over the past three years.The Calgary-based company says it's standing ready to move what's expected to be close to a record crop, but the grain's not yet ready to move. Moves Business and Prairies regional. 250 words.


Calls to reduce use of plastic water bottles


TORONTO — Ontario is being urged to consider the environmental impact of plastic bottles as it updates the provincial policy on water taking permits for bottled water companies.Environmentalists who worry that bottling companies like Nestle can take millions of litres a day from Ontario wells when communities need it for their drinking water are also concerned about where millions of empty plastic water bottles end up. 490 words. By Keith Leslie.


Unsettled markets fuel auto rate hike request


WINNIPEG — Drivers in Manitoba could be facing their biggest auto insurance rate increase since the mid-1990s.Manitoba Public Insurance has applied for a general rate hike of 4.3 per cent. MOVES West regional, Business; GUARD against duplication. 480 words.


Philippines to acquire Bombardier aircraft


TORONTO — Bombardier Commercial Aircraft says Philippine Airlines has signed a letter of intent to acquire up to 12 of its Q400 aircraft. Bombardier (TSX:BBD.B) did not disclose a purchase price for the acquisition of the 86-seat turboprop aircraft. 110 words.


Brookfield to buy Indian cellphone towers


TORONTO — The owner of India's RCom wireless network says an arm of Brookfield Asset Management (TSX:BAM.A) will become majority owner of its tower infrastructure under a preliminary cash deal worth US$1.7 billion.The towers and related infrastructure are used to receive and relay the radio signals that carry voice, video or other traffic between cellphones, smartphones and other mobile devices. 150 words.


Stock markets higher, loonie up slightly


TORONTO — Canada's main stock index crept higher in late-morning trading as weakness in the gold sector offset broad-based gains.The S&P/TSX composite index was up 6.08 points at 14,649.79 after two hours of trading Friday. Will be updated. 400 words. By Aleksandra Sagan.


News from © The Canadian Press, 2016
The Canadian Press

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