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National Business

Trump plan to curb drug costs dealt setback in court

Trump plan to curb drug costs dealt setback in court

WASHINGTON — A late-term manoeuvr by President Donald Trump to use lower drug prices paid overseas to limit some of Medicare's own costs suffered a legal setback Wednesday that appears likely to keep the policy from taking effect before the president
Cormark Securities Inc. and ITG Canada Corp. to pay $1 million to settle SEC charges

Cormark Securities Inc. and ITG Canada Corp. to pay $1 million to settle SEC charges

TORONTO — The U.S. Securities and Exchange Commission says Canadian broker-dealers Cormark Securities Inc. and ITG Canada Corp. have agreed to pay a total of US$1 million to settle charges of improper trading procedures.
Company plans to build $107M fibre-optic cable from Newfoundland to Nunavut

Company plans to build $107M fibre-optic cable from Newfoundland to Nunavut

IQALUIT, Nunavut — A Toronto-based company says it has plans to bring fibre-optic internet to Iqaluit, Nunavut, in 2022.
S&P/TSX composite up as dollar, energy, materials and health-care sectors rise

S&P/TSX composite up as dollar, energy, materials and health-care sectors rise

TORONTO — Worries about a new COVID-19 strain in the U.K. that affected stock trading earlier this week seemed to evaporate on Wednesday as most North American markets rose in a tide of pre-Christmas optimism.
Wood products pricing surge expected to persist, raising 2021 house, renovation costs

Wood products pricing surge expected to persist, raising 2021 house, renovation costs

CALGARY — An unexpected rebound in wood product prices this month is boosting profits for Canadian forestry companies but leaving homeowners and buyers with the prospect of higher home and renovation costs in 2021.
Newfoundland's Hibernia offshore oil project gets $38 million in federal aid

Newfoundland's Hibernia offshore oil project gets $38 million in federal aid

ST. JOHN'S, N.L. — Newfoundland and Labrador is giving $38 million to the Hibernia offshore oil project in a bid to protect 148 jobs over 18 months.

Most actively traded companies on the Toronto Stock Exchange

TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (17,593.57, up 41.11 points.) TC Energy Corp. (TSX:TRP). Energy. Up 23 cents, or 0.44 per cent, to $52.83 on 6.5 million shares.
Magna to form joint venture with LG Electronics to build electric car components

Magna to form joint venture with LG Electronics to build electric car components

Shares of auto parts manufacturer Magna International Inc. hit an all-time high on Wednesday after the company announced a deal with LG Electronics to create a joint venture to build components for electric cars.
Investment firm Letko Brosseau to vote against deal to take Dorel Industries private

Investment firm Letko Brosseau to vote against deal to take Dorel Industries private

MONTREAL — Investment firm Letko, Brosseau and Associates Inc. says it plans to vote against a plan to take Dorel Industries Inc. private. The money manager says it holds 12.6 per cent of Dorel's outstanding class-B subordinate shares.
Virus-linked isolation of UK eases but backlog persists

Virus-linked isolation of UK eases but backlog persists

DOVER, England — Gridlock at an English port kept thousands of truckers and travellers stranded Wednesday despite a deal with France to lift a two-day blockade imposed because of a new variant of the coronavirus that had isolated Britain and raised f