Infrastructure
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Transat AT reports $11M loss as it works to complete Air Canada deal
The Montreal-based travel company’s shareholders voted last month to approve the takeover of the company by Air Canada
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Ferrovial appeals decision on SNC Lavalin’s sale of stake in 407 toll road
SNC-Lavalin says even if the decision were reversed on appeal, Cintra and the pension board have agreed the transaction would not be
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Top Ontario judges criticize Ford government’s cuts to legal aid
The province is reducing funding to Legal Aid Ontario by 30 per cent, meaning it will receive $133 million less in this fiscal year
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UW Madison says Foxconn slow in fulfilling $100M pledge
The Foxconn pledge requires UW-Madison to fundraise to match its donation, and the school has yet to launch such a campaign
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U.S. officials defend plan to end govt control of Fannie, Freddie
Officials are testifying before the Senate Banking Committee on the plan for returning Fannie Mae and Freddie Mac to private ownership
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Germany aims for balanced budget to prepare for downturn
Some have called for Germany to spend more at a time when the cost of government borrowing is extremely low
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West Fraser to vary schedule at 5 B.C. mills, reducing production 15 – 25 %
The company says it’s taking the steps because of sustained weak markets, pricing in wood product markets and high log costs
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Uber adding 2,000 jobs in Chicago, mostly in Freight unit
Uber Freight, which uses the company’s app technology to link shippers with trucking firms, will get the bulk of the resources
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Toronto Global Forum tackles economic nationalism, trade disputes, and rapid tech advances
The forum took place September 4-6 in Toronto. View Mayor John Tory’s opening remarks. Plus, an interview with David McKay, president and CEO, RBC, at the 2018 forum
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A slowdown in U.S. business formation poses a risk to economy
Between 2007 and the first half of 2019, applications to form businesses that would likely hire workers fell 16%. Business formation is a primary way in which Americans builds wealth
