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WASHINGTON – The U.S. Federal Trade Commission sued against Volkswagen AG for falsely advertising that thousands and thousands of its diesel vehicles were eco-friendly, when the German automaker knew these were actually emitting excess pollution. The FTC filed suit in U.S. District Court in San Francisco, stating that U.S. consumers suffered “billions of dollars in injury” because of VW’s deception. ...

Barrick Gold Corp.awarded Executive Chairman John Thornton US$3.08 million as a whole compensation, 76 percent under this past year, after he threw in the towel his bonus within the wake of investor criticism of pay packages at the world’s largest gold producer. Thornton, 62, received a salary of US$2.5 million, US$204,090 in other compensation along with a pension value of US$375,000, the ...

MONTREAL – Continuing a household legacy that stretches back more than a century, Dollarama has named the son of their CEO to accept reins at Canada’s largest chain of discount stores. Neil Rossy, Dollarama Inc.’s 46-year-old chief merchandising officer, will succeed his father, Larry Rossy, 73, at any given time when the Montreal-based clients are flying high, posting greater than expected earnings Wednesday, and ...

NEW YORK – Fed Chair Janet Yellen said Tuesday the Fed still envisions a gentle pace of interest rate increases considering global pressures that could weigh on the U.S. economy. Yellen did not specify a timetable for further hikes to follow along with the Fed’s rate rise in December from record lows. She said the risks towards the Usa remain ...

Canadian energy stocks look more appealing than their U.S. peers on a valuation basis, but Macquarie Scientific studies are finding better opportunities in natural gas-weighted names. Analyst Brian Bagnell noted the median estimated EV/DACF valuation according to oil and gas futures strip prices has climbed to 13.6x within the U.S., while Canadian names are trading at 12.1x. A look into ...

Discount carrier NewLeaf Travel says it’ll resume selling low-cost flights within the next couple weeks since it’s received the go-ahead from Ottawa to continue operations. Chief executive Jim Young says the organization expects its first flight to take off as soon as late spring or early summer. In the meantime, it will focus on reintroducing itself to consumers. Late Tuesday, ...

TransCanada Corp. raised $4.42 billion (US$3.37 billion) in the largest share sale in Canadian history, based on people acquainted with the sale, sending energy financings in the country towards the best begin in a minimum of two decades as oil prices rebounded. TransCanada’s equity sale to help fund its purchase of Columbia Pipeline Group Inc. eclipsed Barrick Gold Corp.’s $4.33 ...

The Tasiast mine in Mauritania has been a giant black cloud over Kinross Gold Corp. for a long time. The company badly overpaid for Tasiast in 2010, if this spent an astounding US$7.1 billion to buy Red Back Mining Inc. (the mine’s former owner). And since then, there has been a steady flow of not so good news, writedowns and ...