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Owner of Toronto Stock Exchange returns to profitability after restructuring loss
TORONTO - TMX Group Ltd. (TSX:X) returned to profitability last year as it saw benefits from a costly streamlining effort that began in 2015.
The operator of the Toronto Stock Exchange and several other securities markets says the improvement was a result of higher revenue, a smaller restructuring expense as well as cost reductions that exceeded the company's target.
|Toshiba chairman resigns over huge nuclear business loss|
TOKYO - Toshiba Corp.'s chairman resigned Tuesday after the company logged such massive losses in its nuclear business that it must sell its lucrative computer-chip business to avoid going belly-up.
The company projected a 712.5 billion yen ($6.3 billion) loss for its nuclear business related to the acquisition of CB&I Stone & Webster by its U.S. nuclear unit Westinghouse. The company also said it will not take on new projects to construct nuclear plants.
Pound collapse costs Rolls Royce $5.5 billion
LONDON - British engineering company Rolls Royce says that the collapse in the pound's value has cost it some 4.4 billion pounds ($5.5 billion).
The company, which makes engines for aircraft, among other things, said Tuesday that the pound's near-20-per cent drop against the dollar since Britain's June vote to leave the European Union forced it to mark lower the value of certain financial contracts.
UK inflation reaches a 2 1/2-year high in January
LONDON - Inflation in Britain reached a 2 1/2-year high in January, as rising fuel prices pushed the rate closer to the central bank's target.
The Office for National Statistics said Tuesday that inflation hit 1.8 per cent last month, just shy of the 2 per cent target set by the Bank of England, and up from 1.6 per cent in December.
Toshiba chairman resigns to take responsibility for losses linked to U.S. nuclear acquisition
TOKYO - Toshiba chairman resigns to take responsibility for losses linked to U.S. nuclear acquisition .
Top-selling Greek daily out again after court ruling
ATHENS, Greece - Greece's top-selling Ta Nea newspaper has resumed publication 5 days after running out of newsprint due to its parent Lambrakis Press' acute financial problems.
The liberal daily reappeared on newsstands Tuesday, a day after an Athens court agreed to unfreeze one of the group's bank accounts to cover publication costs.
Philippine environment secretary cancels 75 mining deals
MANILA, Philippines - The Philippines' environment chief has ordered 75 mining contracts cancelled because the projects are located in watersheds, intensifying her crackdown against mines that she says harm the environment.
Environment Secretary Gina Lopez made the announcement Tuesday, just weeks after ordering the closure of 23 mines and the suspension of five others for damaging watersheds and causing siltation in coastal waters. The order elicited an outcry from the mining industry, which has appea
Toshiba preliminary results show $6B loss from nuclear ops, negative net worth by end of 2016
TOKYO - Toshiba preliminary results show $6B loss from nuclear ops, negative net worth by end of 2016.
Credit Suisse narrows 4Q loss ahead of US settlement
GENEVA - Credit Suisse more than halved its fourth-quarter loss compared with a year earlier, the bank said Tuesday, amid a "challenging" global market and continued cost cuts, after striking a multibillion-dollar settlement with U.S. regulators.
The Zurich-based bank said it had set aside about $2 billion in the quarter to help pay for what became a $5.3 billion settlement with the U.S. Justice Department, finalized last month, over claims the bank misled investors about the quality of mortgage-backed
German economy grows moderately in last quarter of 2016
BERLIN - Germany's Federal Statistics Office says the country's economy continued its moderate growth at the end of last year, thanks largely to household and government spending.
The figures released Tuesday show that gross domestic product rose by 0.4 per cent in the fourth quarter of 2016. The statistical office had offered a rough estimate last month of half a per cent.
|Asian shares fall back as investors await comments by Yellen|
TOKYO - Shares in Asia fell back after an early rally on Tuesday, as investors awaited comments to Congress by Federal Reserve chair Janet Yellen. China's latest inflation data were equivocal, coming just after lunar new year holidays, and had little impact.
KEEPING SCORE: Japan's Nikkei 225 index fell 1.1 per cent to 19,238.98 and the Shanghai Composite Index lost 0.1 per cent to 3,213.73. Australia's S&P ASX 200 also edged 0.1 per cent lower to 5,755.20 and Hong Kong's Hang Seng index was flat at 23,
Canada's Magellan Aerospace to build new facility in India
BANGALORE, India - Magellan Aerospace (TSX:MAL) says it plans to construct a sprawling new manufacturing and assembly facility in India.
The Mississauga, Ont.- based company says the 140,000 sq. ft. building will be constructed in a special aerospace economic zone near the Bangalore International Airport.
Cyber spies target American-Egyptian writer
PARIS - American-Egyptian author Mona Eltahawy is one of many activists and human rights advocates targeted in a sweeping cyberespionage campaign blamed on Egypt's government, The Associated Press has found.
A booby-trapped email sent to Eltahawy and examined by the AP shows that she was targeted by the same password-stealing technique used to try to compromise staff at more than half a dozen Egyptian human rights organizations. Digital clues such as matching email addresses employed to send the malici
|Judge denies request to halt Dakota Access pipeline work|
WASHINGTON - A federal judge on Monday refused to stop construction on the last stretch of the Dakota Access pipeline, which is progressing much faster than expected and could be operational in as little as 30 days.
U.S. District Judge James Boasberg ruled after an hourlong hearing that as long as oil isn't flowing through the pipeline, there is no imminent harm to the Cheyenne River and Standing Rock Sioux tribes, which are suing to stop the project. But he said he'd consider the arguments more thorou
Utah tourism promotes Bears Ears despite state opposition
SALT LAKE CITY - Utah tourism officials said Monday they are promoting the new Bears Ears National Monument on a state website despite a push by the governor and other leaders to have the designation rescinded.
Republican Gov. Gary Herbert signed a resolution earlier this month from the Legislature calling on President Donald Trump to repeal the designation by President Barack Obama during his final weeks in office.
Nevada lawmaker seeks precautionary ban on human microchips
CARSON CITY, Nev. - Computer chips that store personal information and could be used to pinpoint someone's location could not be implanted in humans without consent under a bill Nevada state lawmakers weighed on Monday.
Lawmakers on a judicial panel considered whether Nevada should join at least four other states in banning mandatory identification markers in people as a precaution to keep the emerging technology from creeping into workplaces, prisons or hospitals.
|Senate confirms former banker Mnuchin as Treasury secretary|
WASHINGTON - A bitterly divided Senate on Monday confirmed Steven Mnuchin as treasury secretary despite strong objections by Democrats that the former banker ran a "foreclosure machine" when he headed OneWest Bank.
Republicans said Mnuchin's long tenure in finance makes him qualified to run the department, which will play a major role in developing economic policy under President Donald Trump.
|The Latest: Mnuchin sworn in as treasury secretary|
WASHINGTON - The Latest on President Donald Trump's Cabinet confirmations (all times EST):
Restoration Hardware recalls metal tables after lead reports
PROVIDENCE, R.I. - More than 2,000 dining tables with metal tops are being recalled after reports of elevated blood lead levels in four children in Rhode Island and California.
The federal Consumer Product Safety Commission says consumers should stop using the recalled Railroad Tie and Parsons Railroad Tie tables made by Restoration Hardware Inc.
|Company announces pause for drug after price criticism|
WASHINGTON - Marathon Pharmaceuticals announced Monday that it will temporarily halt the rollout of a drug to treat genetic muscle deterioration just hours after two members of Congress expressed outrage that the company planned to charge $89,000 a year for a drug that's widely available abroad for about $1,000 a year.
Sen. Bernie Sanders, I-Vt., and Rep. Elijah Cummings, D-Md., urged the company earlier in the day to lower the drug's price. They warned that they would be investigating how Marathon Pha