MONDAY, FEB. 17, 2014, 3 p.m. ET
BUSINESS NEWS ADVISORY
Here are the top Business News stories from The Canadian Press as of 3 p.m. All times Eastern unless otherwise stated. Coverage plans are included when available. Entries are subject to change as news develops.
Queries should be addressed to the business desk at 416-507-2138. To reach CP Business by email, send messages to business(at)thecanadianpress.com.
TOP BUSINESS NEWS THIS HOUR
Note: Both Toronto and New York stock markets are closed for Family Day and Presidents' Day respectively. ICE Futures Canada is closed for Louis Riel Day. The Bank of Canada will not be providing a noon or closing figure for the Canadian dollar due to the various holiday days across Canada. All trading will resume on Tuesday.
Tim Hortons embarks on next chapter
TORONTO _ A refreshed vision for Tim Hortons (TSX:THI) begins to take shape this week as the company releases details on its financial results, and how it plans to remain innovative in the highly-competitive Canadian coffee market.The quick-service chain will reveal the strategy in two stages, starting on Thursday with its year-end financial results.
More air links coming between Canada, Mexico
MEXICO CITY _ Prime Minister Stephen Harper is leaving for Mexico today with a plan that could pave the way for getting rid of his host's biggest complaint about Canada _ the onerous visa on Mexican travellers.Trade Minister Ed Fast, who is also travelling on Harper's plane, has been authorized by the federal cabinet to sign an expanded airline access agreement with Mexico, The Canadian Press has learned. PHOTO. Moves Business and National, guard against duplication; will be writethru.
Sochi time difference proves tricky for bars
The big screens may be broadcasting the latest from Sochi, the beer may be ready to flow, but bars hoping for a big boost from the Winter Olympics have had to grapple with a tricky time difference that has many Canadians cheering on their favourite athletes from their homes or offices instead of their favourite watering hole. For a number of sports bars, just how much of a crowd the Olympics are drawing depends on which part of the country they're in. PHOTO.
Minera IRL says Peruvian mine beat guidance
LIMA _ Minera IRL Ltd (TSX:IRL) says its Corihuarmi gold mine in Peru produced more gold last year than originally expected and its 2014 output will also be slightly ahead of previous guidance. However, one of IRL's growth projects is now forecast to come into production about one-quarter behind the previous forecast and another is taking longer than anticipated to receive a construction permit.
Oil price above $100 on US heating fuel demand
The price of oil extended gains above $100 a barrel Monday as the cold weather in the United States increased demand for heating fuels and solid Chinese credit numbers eased concerns over the world's number 2 economy.By early afternoon in Europe, benchmark U.S. crude for March delivery was up 49 cents to $100.79 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract fell 5 cents to close at $100.30. PHOTO.
ALSO IN THE NEWS
B.C. minister resoles shoes for budget
VICTORIA _ Finance Minister Mike de Jong says he's wearing a pair of resoled shoes to Tuesday's budget to send the message that British Columbia is on the path to financial stability, despite some wear and tear.De Jong said Monday the budget he will introduce is balanced but he warned taxpayers not to expect huge spending initiatives or major tax breaks.
Transcontinental, Gesca amend contract
MONTREAL _ Transcontinental Inc. will get a $31-million payment from the owners of Montreal La Presse after agreeing to reduce the cost of printing the French-language newspaper.The Montreal-based printer called the new contract "mutually beneficial."
Train accidents stir worries about crude transport
BILLINGS _ At least 10 times since 2008, freight trains hauling oil across North America have derailed and spilled significant quantities of crude, with most of the accidents touching off fires or catastrophic explosions.The derailments released almost 3 million gallons of oil, nearly twice as much as the largest pipeline spill in the U.S. since at least 1986. And the deadliest wreck killed 47 people in the town of Lac-Megantic, Quebec. PHOTO.
Computer whizzes brainstorm for cash at hackathons
SAN JOSE _ It used to be that "hacking" was just a type of crime, a computer break-in. But today, the term is also part of a growing _ and perfectly legal _ mainstay of the tech sector.Computer programming competitions known as "hackathons" have spread like viruses in recent years as ways for geeks, nerds and designers to get together to eat pizza, lose sleep and create something new.
Euro officials seek deal on new bank body
BRUSSELS _ Finance ministers from the 18-nation eurozone are trying to agree with European lawmakers on the timely creation of a body that can unwind or restructure ailing banks.Dutch finance Minister Jeroen Dijsselbloem said Monday he was confident an agreement on the so-called single resolution mechanism will be reached to ensure the legislation can be passed in April. PHOTO.