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Business

Interim CEO for ICBC

The Insurance Corporation of B.C. has a new interim president and CEO. Mark Blucher has been serving as a senior vice-president for the public auto insurer.

Retail sales down again in B.C

Retail sales in Canada rose 0.3 per cent to $39.1 billion in August, Statistic Canada reported Tuesday, disappointing economists even though the numbers met consensus forecasts.

Ottawa moves to regulate prepaid credit cards

Ottawa is step-ping in with new rules for the largely unregulated prepaid credit card market.

CN Rail upbeat despite challenge

Canadian National Railway is maintaining its earnings growth outlook for 2012 despite anticipating a difficult end to the year due to a weak economy that will be set against last year's strong fourth quarter.

Telus donation benefits groups

Seven community groups are sharing in a $100,000 donation from the Telus Victoria Community Board.

New executive for merged builders group

Chris Erb of C&M Developments is the new chairman of the Vancouver Island Construction Association - and the first since industry groups in Victoria and Nanaimo officially merged operations.
PM promises to clarify foreign takeover rules

PM promises to clarify foreign takeover rules

Prime Minister Stephen Harper is promising to issue new guidelines on foreign takeovers amid growing unease over the government's surprise rejection of a Malaysian state-owned oil company's bid for a Canadian resource firm.

Rejected takeover bid lowers TSX

The Toronto stock market closed lower Monday, weighed down in part by energy stocks after Ottawa rejected a planned takeover in the sector. Traders also took in mixed U.S.

Enbridge inks gas deal with Encana

Pipeline operator Enbridge Inc. is buying assets from natural gas giant Encana Corp. in northwestern Alberta as it looks to grow its presence in the natural gas gathering and compression business.

CPP invests $300M in Bakken oil play

CPP Investment Board is investing $300 million in a U.S. company to help it fund a major acquisition in the Bakken formation, an emerging source of light oil underlying the Prairie provinces and mid-western U.S. states.