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Volkswagen AG said on Wednesday its top U.S. executive is stepping down nearly six months after the German automaker admitted to installing software to allow 580,000 diesel U.S. vehicles to emit excess emissions. Michael Horn, that has been president and ceo of Volkswagen of the usa since 2014, is leaving “to pursue other opportunities effective immediately,” the organization said. The ...

Complaints against banks are on the rise, according to the financial services industry’s ombudsman. Overall complaint volumes remained stable, but banking-related complaints increased, based on the Ombudsman for Banking Services and Investments (OBSI), which released its annual report for 2015 on Wednesday. The Ombudsman opened 273 banking cases last year, up 21 per cent in the year before. The increase ...

President Obama and Canadian Prime Minister Justin Trudeau announced steps to limit methane emissions from existing oil and gas wells, a move meant to underscore their resolve for combat climate change. Read the U.S.-Canada Joint Statement on Climate, Energy, and Arctic Leadership Canada and also the U.S. are agreeing to reduce methane emissions from gas and oil by as much ...

CALGARY C Imperial Oil Ltd. is getting from the retail gasoline business in a $2.8-billion deal announced Tuesday to divest all of its company-owned Esso stations. The Calgary-based gas and oil company announced it was selling its remaining 497 Esso stations across Canada to numerous retail-focused gasoline distributors Tuesday. Imperial has been steadily selling-off its fuel stations of which there ...

OTTAWA – The Bank of Canada is anticipated to create its latest announcement on interest rates later today. And nevertheless there is little expectation of a switch to its overnight rate target, economists will be looking for any clues regarding the way the central bank views the economy. The Bank of Canada’s key interest rate stands at 0.5 percent after ...

MONTREAL C Canadian auto parts maker Magna International Inc said on Wednesday it’ll open a brand new seat-making facility in China to provide Zhejiang Geely Holding Group Co’s Volvo car group. The 5,200-square-meter facility in Taizhou, China, will be completed by mid-2016, Magna said inside a news release published throughout a Toronto event for investors and analysts. It will produce ...

TORONTO ? In the halls of the year’s Prospectors and Developers Association of Canada (PDAC) mining conference in Toronto, Leigh Curyer was treated like a star. “It would be a large amount of fun, but we’ve still got a much more try to do and much more items to achieve,” Curyer, the chief executive of NexGen Energy Ltd., said within ...

MONTREAL – People need to get their heads round the idea that non-renewable fuels are “probably dead,” the CEO of Canadian Pacific Railway said Wednesday. “I’m not maybe as green when i should be but I occur to think the weather is changing (and) they’re not going to fool me anymore,” Hunter Harrison told a J.P. Morgan transportation conference in ...