Business

A charter airline company will offer weekly direct flights between Victoria International Airport and Los Cabos, Mexico, starting Nov. 1.

Mining stocks led the way to a lower close on the Toronto stock market Monday, with buyers inclined to do little ahead of a major U.S. Federal Reserve meeting at the end of the week. The S&P/TSX composite index declined 33.41 points to 12,048.

Securities regulators have approved a settlement with Boaz Manor, a key figure in the multimillion-dollar Portus financial scandal. The Ontario Securities Commission has ordered Manor banned for life from most capital markets activity and to pay $8.

Apple Inc. on Monday gave a federal judge a list of eight Samsung Electronics Co. products it wants pulled from shelves and banned from the U.S. market. U.S.

New Brunswick Premier David Alward says new legislation will be introduced this year to reassemble NB Power.

It will be a couple of days before operations resume aboard an offshore drilling rig off the coast of Newfoundland. Safety officers are trying to determine why a hydraulic cylinder was dropped aboard the Henry Goodrich on Thursday.

Observers say it's a low-margin, volatile business not worth pursuing

Canadian uranium giant Cameco has purchased one of Australia's largest undeveloped uranium deposits for $430 million US. The Saskatchewan company reached an agreement with BHP Billiton to acquire the Yeelirrie uranium project in Western Australia.

Stock in Inter-Citic Minerals Inc. soared more than a third after the company announced it was being acquired by a subsidiary of China-based Western Mining Group in a deal that values Inter-Citic at $250 million. Inter-Citic said Western Mining Co.

Canadians mailed fewer packages through Canada Post in the second quarter, eroding results across most of the Crown corporation's operations, while its courier business Purolator got a boost from more orders sent by e-commerce retailers.