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Winnipeg Free Press - PRINT EDITION

Business Watch

By: Staff Writer

Posted: 09/6/2012 1:00 AM | Comments: 0

2013 Escapes risk engine fires. (THE ASSOCIATED PRESS ARCHIVES)

Ford recalling new Escapes

DETROIT -- Ford is recalling about 1,300 new Escapes in Canada to fix coolant leaks that can cause engines to overheat or catch fire.

The move is part of a broader recall of 7,600 Escapes that affects 2013 models with 1.6-litre four-cylinder engines.

Plugs in the engine may not have been installed properly and can fall out while the motor is running. Coolant can leak and cause engines to overheat. Dealers have repair parts available and owners should make service appointments as soon as possible, said Ford spokeswoman Marcey Zwiebel. Ford will fix the problem for free.

Red-soled shoes protected

NEW YORK -- The distinctive red soles of Christian Louboutin shoes are entitled to trademark protection, even if the company can't exactly call the colour its own, a federal appeals court said Wednesday.

The 2nd U.S. Circuit Court of Appeals in Manhattan reversed a lower-court judge, who had ruled against the French maker of luxury shoes worn by stars such as Sarah Jessica Parker, Scarlett Johansson and Halle Berry.

The appeals court said Louboutin was entitled to protect its brand against red-soled shoes made by competitor Yves Saint Laurent S.A.S., which is also based in Paris, though it instructed the U.S. Patent and Trademark Office to limit registration of the trademark to situations in which the red lacquered outsole contrasts in colour with the adjoining upper part of the shoe.

Facebook stock increases 5%

NEW YORK -- Facebook's stock increased nearly five per cent on Wednesday following a disclosure its CEO, Mark Zuckerberg, won't sell stock in the company for at least a year.

Zuckerberg holds about 504 million shares and options and had been eligible to start selling them in November. The company currently has about 692 million shares eligible for sale. The concern is if Zuckerberg floods the market with additional shares, prices would drop farther.

CAW warns of shutdowns

TORONTO -- Workers need to be ready to shut down the Canadian operations of the Big 3 Detroit automakers if a deal can't be reached at the bargaining table, the Canadian Auto Workers' union told its members Wednesday.

"It is our hope and intention to reach an agreement with at least one of the three companies before the deadline," the union said in a news release. "We must be prepared, though, to shut down operations at all three, should we be unable to reach an agreement."

The strike deadline is Sept. 17 at 11:59 p.m.

Nokia unveils new smartphone

NEW YORK -- Nokia revealed its first smartphones to run the next version of Windows, a big step for a company that has bet its future on an alliance with Microsoft.

Nokia's new flagship phone is the Lumia 920, which runs Windows Phone 8. The lenses on its camera shift to compensate for shaky hands, resulting in sharper images in low light and smoother video capture, Nokia said. It can also be charged without being plugged in; the user just places it on a wireless charging pod.

Cascades to close Quebec plant

KINGSEY FALLS, Que. -- Cascades Inc. (TSX:CAS) says it will shutter its folding carton plant in Lachute, Que., by the end of the first quarter of 2013, laying off about 95 employees. As part of the announcement, Cascades said it has committed $22 million of investments into its Norampac division, which has locations near Montreal, Winnipeg and Mississauga and Cobourg, Ont.

Route for oil pipeline revised

CALGARY -- TransCanada Corp. has submitted a report to Nebraska environmental authorities outlining another revised route for its contentious Keystone XL oil pipeline.

The rejigged route will avoid areas with similar features to the Sandhills, an ecologically sensitive area made up of grass-covered sand dunes. Changes have also been made to reduce the risk to some drinking-water supplies.

User fees stuff feds' pockets

OTTAWA -- The federal government has made much about its record in cutting taxes, but a new report shows it is making out like a bandit on user fees.

Parliamentary budget officer Kevin Page's report on user fees shows Ottawa raked in just over $8 billion in the 2010-11 fiscal year.

That represents only a small portion of what it gets from taxes, but it's more than double the $3.4 billion it got from user fees a decade earlier.

-- from the news services

Republished from the Winnipeg Free Press print edition September 6, 2012 B7

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