Business RSS
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With purchase of 25 new Airbus A350s, troubled Air France-KLM invests in long-haul
LE BOURGET, France – Air France-KLM ordered 25 Airbus A350 jets on Wednesday, saying the wide-body plane that flew for the first time last week will be central to its plan to expand long-haul flights after years of struggling against discount carriers in Europe. The deal is worth around $7.2 billion at list prices but
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Chrysler recall avoids showdown with government over Jeep models for fire risk
DETROIT – Chrysler avoided a showdown with government safety regulators Tuesday, agreeing to recall 2.7 million older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire. Earlier this month the company defiantly refused the government’s request to recall the Jeeps. But Chrysler now says it will go ahead
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CFIA suspends licence of Edmonton’s Aliya’s Foods Ltd. over inspection rules
EDMONTON – The Canadian Food Inspection Agency has suspended the licence of an Edmonton business over non-compliance of meat inspection regulations. The business, Aliya’s Foods Ltd., took effect on Monday. Aliya’s Foods Ltd. is a ready-to-eat red meat and poultry establishment. The agency says Aliya’s Foods Ltd. has failed to document and address product cooling
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National retailer Hudson’s Bay Company names Bonnie Brooks to vice-chairman
TORONTO – Hudson’s Bay Company (TSX:HBC) is shuffling its executive structure, with high-profile president Bonnie Brooks becoming vice-chairman and being succeeded by Liz Rodbell, who has been chief merchant for the retailer. Both positions report to HBC chairman and chief executive officer, Richard Baker. The Toronto-based company says the changes are in effect immediately. Brooks
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Higher energy costs partly offset by cheaper food as US consumer prices rise just 0.1 per cent
WASHINGTON – U.S. consumer prices rose slightly in May as higher energy costs were partly offset by cheaper food. The small increase underscores that inflation is mild. The Labor Department says the consumer price index ticked up a seasonally adjusted 0.1 per cent last month, only the second increase in seven months. Consumer prices fell
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Loonie down, U.S. dollar up , traders hope for stimulus clarity from Fed meeting
TORONTO – The Canadian dollar was lower Tuesday while the greenback advanced ahead of the start of a two-day meeting by the Federal Reserve. The loonie was down 0.18 of a cent to 98.08 cents US. Traders hope the meeting and a news conference Wednesday afternoon by Fed chairman Ben Bernanke will provide clarity on
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TSX to advance, traders hope Fed meeting will shed light on future of stimulus
TORONTO – The Toronto stock market was set for a slightly higher open Tuesday ahead of the start of a two-day meeting of the Federal Reserve that is hoped will provide guidance on the future of the central bank’s stimulus measures. Transport giant Bombardier Inc. (TSX:BBD.B) could provide some lift after it announced that it
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Jay-Z’s business continues to boom with Samsung deal for new album ‘Magna Carta Holy Grail’
NEW YORK, N.Y. – He really is more than a businessman. Jay-Z’s partnership with Samsung for his new album, “Magna Carta Holy Grail,” is another sign of how musicians are finding new ways to push, sell and promote their music, and how the multiplatinum performer — who famously rapped “I’m not a businessman, I’m a
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Boeing launches plan for longer 787 jet at Paris Air Show
LE BOURGET, France – Boeing Corp. is starting work on a stretched-out version of its popular 787 Dreamliner jet, in the hope of reigniting interest in the aircraft after battery-related problems. Boeing announced the formal launch of its 787-10 program at the Paris Air Show on Tuesday and says it already has commitments from several
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Expert: AEG Live’s involvement with Michael Jackson’s doctor a conflict of interest
LOS ANGELES, Calif. – An expert testifying for Michael Jackson’s mother says he believes it was a conflict of interest for the promoter of the superstar’s comeback concerts to negotiate with his doctor. David Berman is a longtime record company executive and attorney. He told a jury hearing Katherine Jackson’s lawsuit against AEG Live LLC
