Business News

Last updated by The Canadian Press
at 21:01 on January 09, 2017, EST.

Email sales@thecanadianpress.com
or call 416-507-2019
for more details on
publishing credible,
current news on your website.

Yahoo to change name, trim board if Verizon deal gets done
SAN FRANCISCO - Yahoo will adopt a new corporate identity and slash the size of its board if the proposed $4.8 billion sale of its digital services to Verizon Communications goes through.
The company plans to change its name to Altaba Inc. after it turns over its email, websites, mobile apps and advertising tools to Verizon. The new name is meant to reflect Yahoo's transformation into a holding company for investments in China's e-commerce leader, Alibaba Group, and Yahoo Japan that are worth about mor

This Jan. 4, 2017, image provided by the U.S. Energy Department and its contractor Nuclear Waste Partnership shows workers moving waste underground at the Waste Isolation Pilot Plant near Carlsbad, N.M. The repository, the federal government's only undergr
Energy boss: Nuke site reopens but work remains
ALBUQUERQUE, N.M. - The reopening of the nation's only underground nuclear waste repository nearly three years after a radiation leak marks a key step toward cleaning up a decadeslong legacy of bomb-making and research, but the U.S. energy secretary said more needs to be done before a backlog of contaminated material starts heading to the New Mexico desert again.
The radiation release halted work at the Waste Isolation Pilot Plant and derailed a multibillion-dollar cleanup program, raising questions ab

Protesters from an anarchist group shout slogans as they march against fuel price hikes in Mexico City, Monday, Jan. 9, 2017. Largely peaceful protests against the fuel price increases continued nationwide in Mexico, and looting seen last week largely subs
More gas hike protests in Mexico a day after clash at border
MEXICO CITY - Thousands of Mexicans marched in the capital Monday to complain about a gasoline price increase, demonstrating a day after police in Sonora state fought a pitched, three-hour battle to free a border rail crossing blocked by protesters.
Demonstrators have been protesting across Mexico against a 20 per cent hike in gasoline prices that took effect on New Year's Day, and the anger has occasionally erupted into violence, including several days of looting last week.

UN experts: Rebels, criminals, some army exploit Congo gold
Some army officers, rebel groups and criminal networks in Congo are still illegally exploiting the country's gold and mineral riches despite government and military bans, U.N. experts said in a report circulated Monday.
The panel of experts monitoring sanctions against Congo said gold remains by far the mineral most used to finance rebel and criminal groups. It names several senior officers implicated in gold exploitation and trade, "on occasion in collaboration with private companies."

FILE - In this Sept. 20, 2006, file photo, Heaven Hill's master distiller Parker Beam holds a bottle of Rittenhouse Rye Whisky made at the Bardstown, Ky. distillery. Beam, who carried on his family's historic bourbon-making tradition, died Monday, Jan. 9,
Parker Beam, master distiller of Kentucky bourbon, dies
LOUISVILLE, Ky. - Parker Beam, who carried on his family's historic bourbon-making tradition as longtime master distiller for Kentucky-based Heaven Hill Distilleries, died Monday after battling amyotrophic lateral sclerosis, better known as Lou Gehrig's disease. He was 75.
Beam's career as a whiskey maker spanned more than a half century at Bardstown, Kentucky-based Heaven Hill, a family owned and operated distilled spirits company and maker of the popular Evan Williams brand. Beam was responsible for

Ford Motor Co. Executive Chairman Bill Ford, left, listens as President and Chief Executive Mark Fields speaks at the North American International Auto show, Monday, Jan. 9, 2017, in Detroit. (AP Photo/Carlos Osorio)
Ford adding diesel engine, other features to F-150
DETROIT - For the first time, Ford is offering a diesel engine on its F-150 pickup.
The change is one of several coming for America's bestselling pickup in the 2018 model year. The revamped truck goes on sale this fall, with the diesel option following in the summer of 2018.

Son of ex-school board member pleads guilty in bitcoin case
NEW YORK, N.Y. - The son of a former Florida school board member pleaded guilty on Monday to conspiracy charges in a bitcoin case, acknowledging he participated in a money exchange business that used bitcoins to launder cash for cyber criminals.
Anthony Murgio, of Tampa, Florida, faces a decade or more in prison at a June sentencing in Manhattan. Murgio, 33, admitted he knew he was acting illegally when he participated in the crooked money exchange business.

Feds: More than 800 career programs are failing their grads
Hundreds of programs at for-profit colleges are at risk of losing federal funding unless their graduates start earning better wages, federal officials say.
On Monday, the Education Department issued its first round of data measuring whether graduates of 8,700 career programs earn enough money to repay their student loans. It stems from the Obama administration's new "gainful employment" rule, which aims to weed out programs that leave students with heavy debt and light income.

FILE- In this Jan. 9, 2007, file photo, Apple CEO Steve Jobs holds up an iPhone at the MacWorld Conference in San Francisco. Jobs introduced the first iPhone a decade ago. Jobs'
Apple proved a phone can change the world in just 10 years
SAN FRANCISCO - Few people realized it at the time, but the world shifted fundamentally a decade ago when Steve Jobs pulled the first iPhone from Apple's bag of technological tricks.
"Every once in a while, a revolutionary product comes along that changes everything," Jobs declared as he paced across a San Francisco stage.

New York Gov. Andrew Cuomo delivers one of his State of the State addresses in New York's One World Trade Center building, Monday, Jan. 9, 2017. New York state must stand as an alternative to the policies and pronouncements of President-elect Donald Trump
Experts: NY can absorb closing of Indian Point nuke plant
ALBANY, N.Y. - A plan to close the aging Indian Point nuclear power plant by 2021 removes a long-held fear of an accident occurring miles from the nation's most populous city.
Although the plant provides about a quarter of the electricity in New York City and suburban Westchester County, experts agree that taking he plant offline should have a negligible long-term impact on supply. Whether electric rates climb as a result remains an open question.

A customer leaves a Whole Foods Market store in Oakville, Ont., Aug.22, 2012. Texas-based Whole Foods Market says it's cancelling plans to open stores in Calgary and Edmonton.The news appears to signal a slowdown in the organic food supermarket chain's pla
Whole Foods Market cancels Alberta openings as Canadian expansion plan slows
CALGARY - A plan to quadruple its Canadian presence to 40 stores has hit a snag for Whole Foods Market which confirms it will not proceed with planned store openings in Calgary and Edmonton.
The gigantic American natural and organic foods supermarket chain says on its website it has a total of 12 Canadian stores: five each in the Vancouver and Toronto areas, one in Ottawa and a new store that opened in Victoria in November.

Rates fall at weekly US Treasury bill auction
WASHINGTON - Interest rates on short-term Treasury bills fell in Monday's auction, with rates on six-month bills dropping to their lowest level since early November.
The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.510 per cent, down from 0.530 per cent last week. Another $28 billion in six-month bills was auctioned at a discount rate of 0.590 per cent, down from 0.630 per cent last week.

International Trade Minister Chrystia Freeland talks to reporters about the Canada-European Union trade agreement in the foyer outside the House of Commons on Parliament Hill in Ottawa on Monday, October 24, 2016. Freeland sees a silver lining for Canada i
Freeland sees opportunity for Canada amid rising protectionism, nationalism abroad
MONTREAL - International Trade Minister Chrystia Freeland sees a silver lining for Canada in 2017 despite an increasingly complex and gloomy economic situation worldwide.
Enormous opportunity exists for Canada amid growing protectionist and nationalist movements in the United States and elsewhere, Freeland told an international-relations group Thursday.

FILE- In this Jan. 9, 2015, file photo, Alabama Gov. Robert Bentley, left, watches as Ken Pucel, Executive Vice President with Polaris Industries Inc., announces that the company will build a manufacturing facility in Huntsville. Polaris Industries is elim
Polaris plans to drop unprofitable Victory Motorcycle brand
SPIRIT LAKE, Iowa - Polaris Industries will stop making its Victory motorcycles so it can focus on its Indian Motorcycle brand and other products.
Polaris announced Monday that it is shutting down the unprofitable Victory brand after 18 years. The motorcycles were produced at the Minneapolis-based company's Spirit Lake, Iowa, and Spearfish, South Dakota, plants.

Dairy Queen closes Illinois store after owner uses slur
ZION, Ill. - Dairy Queen has closed one of its stores in Illinois and terminated its relationship with the franchise owner after police say he used racial slurs in an angry confrontation with a customer.
A Zion police report says the franchise owner, Jim Crichton, told a responding officer he called Deianeira Ford, 21, of Tinley Park, Illinois, and her children a racial slur. He also said he was "fed up with black people" and would go to jail over the issue. According to the report, Ford said Crichton

New Hampshire lawmaker wants to consider Russian liquor ban
CONCORD, N.H. - If one New Hampshire lawmaker has his way, it might become difficult to find Russian vodka in the state's liquor stores.
Democratic Senate Minority Leader Jeff Woodburn on Monday proposed a bill that would establish a bipartisan commission to consider ways the state could respond to what he calls "Russian interference in our democracy."

The 2018 Toyota Camry is presented at the North American International Auto show, Monday, Jan. 9, 2017, in Detroit. Toyota unveiled the eighth-generation Camry at the auto show Monday. (AP Photo/Carlos Osorio)
Camry redesigned: a look back at America's top-selling car
DETROIT - Toyota unveiled the eighth-generation Camry at the Detroit auto show Monday, at a time when car buyers in the U.S. are flocking to SUVs.
The Camry has worn the crown as the bestselling vehicle in the U.S., excluding pickups, for 15 years, offering drivers a reliable ride for getting from one place to another. The car has never been known for its looks, however. In fact, in the past some analysts compared it to an appliance. The current version is square-looking when compared to competitors su

2 Ontario First Nations suing TransCanada over pipeline consultation process
TORONTO - Two indigenous communities in northern Ontario are suing TransCanada in a bid to expand the pipeline consultation process to include maintenance operations.
TransCanada wants to conduct what it calls integrity digs on a nearly 30-kilometre stretch of natural gas pipeline that runs through traditional territories of the Aroland First Nation and Ginoogaming First Nation.

A look at the business Trump's son-in-law is setting aside
NEW YORK, N.Y. - Donald Trump has tapped his son-in-law, Jared Kushner, as a senior adviser. Kushner, who is married to Trump's eldest daughter Ivanka Trump, has for the past decade run Kushner Companies, the umbrella corporation that oversees the family's many real estate holdings. Transition official said Monday Kushner will step down from the post and divest some of his assets in order to comply with federal ethics laws that apply to government employees. Here's a look at what we know about the Kushne

Navdeep Bains (right), Minister of Innovation, Science and Economic Development, together with the Brad Duguid (left), Ontario Minister of Economic Development and Growth make a funding announcement at the Honda manufacturing plant in Alliston, Ontario on
Ottawa, province give grants of $42M each to Honda for Ontario plant
ALLISTON, Ont. - The federal and Ontario governments are each providing Honda Canada with grants of up to $41.8 million for upgrades and research and development at its operations in Alliston, Ont.
The government money, along with up to $408.3 million from Honda itself, will go toward vehicle-assembly technology, as well as the design and construction of a new paint shop that is expected to cut greenhouse gas emissions nearly in half.