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Volkswagen says it still believes only a small number of staff were behind emissions scandal


WOLFSBURG, Germany — Volkswagen believes that only a small number of employees were behind the emissions scandal, but its board chairman said Thursday the company is still investigating and suggested the probe does not exclude top managers. In an update on the German automaker’s attempt to get to the bottom …

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Junior miner Champion Iron agrees to buy troubled Bloom Lake mine in Quebec


A buyer has finally emerged for the troubled Bloom Lake iron ore mine in Quebec, which was shuttered nearly a year ago after incurring massive losses. Junior miner Champion Iron Ltd. has won an auction to buy the mine out of bankruptcy protection for $10.5 million. Champion, which has offices …

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Lululemon Athletica Inc founder Chip Wilson reveals he considered buying Under Armour in 2012


Lululemon Athletica Inc. founder Chip Wilson, who split from the company over strategy disagreements, said he once considered acquiring Under Armour Inc., a deal that would have combined two of the biggest brands in athletic apparel. “Three years ago, when I was chairman and Lululemon was worth twice as much …

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Finance Minister Bill Morneau says fiscal responsibility, new advisory council will help kickstart economy


TORONTO – Canada’s new finance minister Bill Morneau gave his first public speech Monday, outlining how his government plans to kickstart a sluggish Canadian economy. Speaking to business professionals at a Toronto Region Board of Trade luncheon, Morneau focused on what has become a new Liberal talking point: moving away …

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From Arizona to Florida, U.S. destinations feeling chill from low loonie, weakened Canadian economy


The American sunbelt is expected to feel a chill this winter from Canada’s weakened economy and a loonie that’s lost more than a quarter of its value in the past couple of years. Overnight cross-border travel was down about nine per cent in the first nine months of the year …

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Brookfield Renewable and Dundee show that pref shares may not be preferred


Read it and weep. In the past month, two TSX-listed issuers, Brookfield Renewable Energy Partners LP and Dundee Corp. have proposed plans that undermine the expectations — indeed, the rights — enjoyed by holders of preferred shares. Investors purchased the two lots of securities — specifically the Series 5 prefs …

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Stranded barrels in the oilsands: How carbon curbs will stunt growth in Canada’s oilpatch


Canadian oilsands producers like Suncor Energy Inc. like to tout the long life of the world’s third-largest crude reserves as their greatest asset. That longevity may now be their biggest liability with a new global agreement to curtail carbon emissions. Secret deal on carbon emissions has driven a rift through …

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B.C. oil commission confirms 4.6-magnitude earthquake in August caused by fracking


FORT ST. JOHN, B.C. — The British Columbia Oil and Gas Commission has confirmed that fracking caused a 4.6-magnitude earthquake in August — the largest linked to the industry in the province to date. The commission says an investigation has determined that the Aug. 17 quake in northeastern B.C. was …

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OSFI takes aim at banks’ residential mortgage capital requirements to keep pace with rising house prices, household debt


TORONTO Canada’s top banking regulator is planning to change the amount of capital banks must hold against residential mortgages to keep up with the rapid rise in house prices and highly leveraged buyers in some markets. Observers said the move, together with an announcement Friday by the federal government to …

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Disappointing railway data could mean a buying opportunity


Weak North American rail traffic in the first 10 weeks of the fourth quarter may set up a buying opportunity for investors. Following signs of health early in the quarter, things have taken a turn for the worse through November and early December. Raymond James analyst Steve Hansen noted that …

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