Business

French fears of competition from a flood of U.S. wine bearing the word "chateau" on the label eased on Tuesday, after EU officials delayed a decision on a plan that has left Bordeaux winemakers seeing red.

Europe is in the midst of another crisis: not debt, but grapes. Yields are sharply lower, down nearly 40 per cent in some parts of Portugal, which means winemakers will have fewer grapes to blend and, in the end, fewer bottles to offer.

The Toronto stock market moved lower on Tuesday as investors backed away from the optimism that characterized trading earlier in the session. The S&P/TSX composite index dropped 56.36 points to 12,257.18. The TSX Venture Exchange fell 20.

A Chinese factory owned by the manufacturer of Apple's iPhones has resumed production after a brawl involving some 2,000 workers highlighted chronic labour tensions in a country that prohibits independent unions.

The Alberta plant involved in a sweeping recall of beef products because of E. coli contamination concerns is not allowed to ship meat to the U.S. The U.S. Department of Agriculture says XL Foods Inc.

The general manager of a Chinese pipeline company says his industry is up against numerous challenges.

Finance Minister Jim Flaherty has again called on Canada's corporate community to use their massive cash reserves to invest in the future, only to have his message rebuffed Tuesday by the president of Canada's largest business lobby.

The Scotiabank Commodity Price Index rebounded in August, rising 3.1 per cent from July, thanks largely to stronger oil prices and the early signs of a recovery in the U.S. housing market. Scotiabank said oil and gas prices led gains with an 11.

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