Business And Finance

Uber narrows quarterly loss as company polishes tarnished image

Uber is still struggling to make money while the ride-hailing service’s CEO deals with the headaches left behind by his predecessor. The second-quarter results released Wednesday show Uber’s pioneering service continues to reel in more passengers and revenue, despite a variety of debacles that have tarnished its reputation and spurred some disillusioned riders to defect to its main U.S. rival, ...

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Morneau ready to use 'emergency' measure to protect steel sector

Bill Morneau is preparing to use emergency safeguard measures for the first time to respond to the risk of a surge of cheap foreign steel imports. The finance minister launched a 15-day public consultation process Tuesday for seven steel products the minister said had seen recent increases in imports: steel plate concrete reinforcing bar energy tubular products hot-rolled sheet pre-painted ...

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Experts warn Canada is not immune to global financial contagion: Don Pittis

Canada’s latest job creation numbers out at the end of last week were astounding. The most recent figures for the country’s economic growth, at an annual rate of 2.6 per cent, were better than almost anyone expected. But while both U.S. and Canadian economic indicators climb to new heights, there are growing warning signs that neither will be able to escape a gathering storm that is ...

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Why boycotting Canadian wheat is likely to backfire for Saudi Arabia

The sudden diplomatic dispute between Saudi Arabia and Canada took a lot of unexpected twists and turns this week, but perhaps none was more head-scratching than the kingdom’s threat to stop buying Canadian wheat. Because they don’t buy much as it is. And if anything, they’re likely to need to buy more soon. On Wednesday, the country’s official grain buying agency, the ...

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Unionized Quebec Tim Hortons workers unhappy with deal that cuts paid breaks

The union representing 80 workers at four Quebec Tim Hortons claims they’ve been dealt a blow after an imposed contract cut their paid coffee and lunch breaks, even though their employer is abiding by the collective agreement and the province’s labour laws. “It’s not fair,” said Nicholas Lapierre, regional co-ordinator with the United Steelworkers (USW). “We are very, very disappointed about this situation.” The ...

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RyanAir pilot strike grounds 400 flights across Europe

Budget airline Ryanair said Wednesday it is cancelling 400 of over 2,400 flights on Friday due to a strike by pilots in Ireland, Sweden, Belgium and Germany at the height of the vacation travel season. The airline says 85 per cent of its Friday flights would operate and that affected customers would get email or text messages later on Wednesday. ...

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