Business Canada

  • Jan 18- Canadian Pacific Railway Ltd, Canada's No. 2 railroad operator, reported a lower-than-expected adjusted quarterly profit on Wednesday and said its chief executive would leave five months earlier than originally expected. Hunter Harrison will officially step down Jan. 31 and will take vacation leave with immediate effect. He will be replaced by Chief...

  • Wilbur Ross, picked by President-elect Donald Trump to serve as his commerce secretary, testifies at his confirmation hearing in front of the Senate Commerce Committee on Capitol Hill on January 18, 2017 in Washington, DC.

    Billionaire investor Wilbur Ross, commerce secretary nominee, criticized China's trade practices on Wednesday.

  • Kevin O'Leary of 'Shark Tank' throws his hat into Canada's political arena

    Kevin O'Leary, O'Shares ETFs chairman, discusses his decision to run for Conservative leadership in Canada.

  • OMAHA, Neb.— Canadian Pacific Railway Ltd. is accelerating the retirement of CEO Hunter Harrison by about six months after he inquired about the possibility of working with other major freight railroads. The Calgary, Alberta, railroad said Wednesday that Harrison will forfeit roughly 118 million Canadian dollars in stock options and pension benefits as part...

  • WASHINGTON, Jan 18- U.S. consumer prices increased in December as households paid more for gasoline and rental accommodation, leading to the largest year-on-year increase in 2-1/ 2 years and signaling that inflation pressures could be building. "Further momentum in consumer prices could add to the perception of a more hawkish Fed and the potential for more...

  • CALGARY, Alberta _ Canadian Pacific Railway Ltd. on Wednesday reported fourth-quarter profit of $287.7 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.37 per share. Six analysts surveyed by Zacks expected $1.26 billion.

  • *Consumer prices increase 0.3 percent in December. WASHINGTON, Jan 18- U.S. consumer prices increased in December as households paid more for gasoline and rental accommodation, leading to the largest year-on-year increase in 2-1/ 2 years and signaling that inflation pressures could be building. "Further momentum in consumer prices could add to the perception...

  • Mary Barra, CEO, General Motors

    "It might be an attempt to buy good will, but I don't blame them for trying to do that," said Tom C. Korologos, a longtime Republican strategist says, New York Times reports.

  • *Loonie touches weakest since Jan. 11 at C $1.3235. TORONTO, Jan 18- The Canadian dollar weakened to a one-week low against its U.S. counterpart on Wednesday as oil fell and Bank of Canada Governor Stephen Poloz kept alive prospects of an interest rate cut. The remark pressured the loonie to its weakest since Jan. 11 at C $1.3235 to the greenback.

  • The base price of a 2017 Encore with the destination charge included has been lowered to $23,915, saving buyers $1,075 off of last year's $24,990 manufacturer's suggested retail price. It comes with front-wheel drive, a six-speed automatic transmission and a 138- horsepower, turbocharged four-cylinder engine and is cheaper than some other popular small...

  • OTTAWA, Jan 18- An interest rate cut remains on the table if the risks facing the country are realized, the Bank of Canada said on Wednesday, warning there would be "material consequences" if U.S. Though it did not quantify the potential impact, the bank said "prospective protectionist trade measures in the United States would have material consequences for...

  • *Temperatures far above 20th century average- NOAA, NASA. *Temperatures creeping close to ceiling set in Paris deal. OSLO, Jan 18- World temperatures hit a record high for the third year in a row in 2016, creeping closer to a ceiling set by the Paris climate change deal, with extremes including unprecedented heat in India and ice melt in the Arctic, scientists said on...

  • BOSTON, Jan 18- A small Boston- area hedge fund operation on Wednesday was accused of running a Ponzi scheme that included spending investor money on liquor, luxury hotels and specialty cars, according to a complaint by the top securities regulator in Massachusetts. Alleged victims of MC2 Capital of Cambridge, Massachusetts included an unnamed institutional...

  • TORONTO, Jan 18- Below are some key quotes from an appearance by Bank of Canada Governor Stephen Poloz in Ottawa:. ON LIKELIHOOD OF FUTURE INTEREST RATE MOVES. "What we have is heightened uncertainty about trade policies in particular so we identified a number of downside risks as well as upside risks in our projection.

  • OTTAWA, Jan 18- The Bank of Canada held interest rates steady on Wednesday, as expected, even as it nudged growth forecasts higher, saying the big unknown of what policies U.S. President-elect Donald Trump will enact makes it prudent to wait and see. "They are giving themselves enough flexibility that if we were to get a very negative policy outcome from a major...

  • *Temperatures far above 20th century average- NOAA, NASA. OSLO, Jan 18- World temperatures hit a record high for the third year in a row in 2016, creeping closer to a ceiling set for global warming with extremes including unprecedented heat in India and ice melt in the Arctic, U.S. government agencies said on Wednesday. U.S. space agency NASA reported almost identical...

  • Kevin O'Leary on set of 'Shark Tank'

    Kevin O'Leary on Wednesday said he will join the Conservative leadership race in Canada.

  • *Graphic of poll results: http://tmsnrt.rs/2e7JFpt. Jan 18- The global economic outlook remains shaky, despite recent pockets of resilience, according to the overwhelming majority of economists polled by Reuters who said a rise in protectionist trade policies would hamper growth. That uncertainty is heightened by the signs of a rise in nationalist...

  • The Saskatoon, Canada- based company said it expects to report a net loss for 2016 citing asset impairments resulting from fair market assessments at the end of the year. Cameco said it plans to reduce workforce at the McArthur River, Key Lake and Cigar Lake operations by 10 percent. "The current earnings expectations do... reflect the consequences of a continued...

  • DALLAS, United States- Federal Reserve Bank of Dallas President Robert Kaplan participates in a panel before the University of Texas at Austin 2017 Business Forecast- 1400 GMT. SAN FRANCISCO, United States- Federal Reserve Chair Janet Yellen speaks on "The Goals of Monetary Policy and How We Pursue Them" before the Commonwealth Club- 2000 GMT.