Broad-based rally lifts Toronto stock index and Wall Street higher, loonie up

Broad-based rally lifts Toronto stock index and Wall Street higher, loonie up
TORONTO — Strong U.S. corporate earnings helped push North American stock indexes higher Thursday, as markets bounced back from modest declines a day earlier. The S&P/TSX composite index was up 56.89 points to 15,935.37, with energy shares one of the few decliners amid a continuing drop in the price of oil. The January crude contract was down 17 cents at US$55.35 per barrel —... Read More

U.S. payroll firm challenges Statistics Canada with alternative employment data

U.S. payroll firm challenges Statistics Canada with alternative employment data
TORONTO — An inaugural private-sector Canadian jobs report calculates that the economy actually shed jobs last month, contrary to the sizable gain reported by Statistics Canada. The Canada National Employment Report from ADP — a U.S.-based payroll processor known for releasing jobs data ahead of the American government — estimates that 5,700 payroll jobs were lost in October. That’s a big difference from the 35,300 jobs that Statistics Canada suggests were... Read More

Cyber Insecurity: the high stakes of data protection in an interconnected world

Cyber Insecurity: the high stakes of data protection in an interconnected world
TORONTO — What is nearly imperceptible, leaks important secrets and can keep Canada’s top bankers up at night? A cyberattack. It’s not a punch line but a seriously haunting prospect for those in the upper echelons of Canadian governments and corporations. When Victor Dodig checks his phone in the morning, the chief executive of CIBC dreads reading that any government or corporation, anywhere in the world, has been hacked, he told... Read More

Tragically Hip-backed Newstrike confirms merger talks with CanniMed

Tragically Hip-backed Newstrike confirms merger talks with CanniMed
TORONTO — Newstrike Resources Ltd. has confirmed that it has entered an exclusivity agreement with CanniMed about potentially combining the two businesses. The Tragically Hip-backed company (TSX-V:HIP) says it will continue to negotiate the proposed deal, which would see Newstrike shareholders receive 3.3 CanniMed shares for every 100 they hold in Newstrike. News of the proposed deal surfaced after Aurora Cannabis Inc. (TSX:ACB) made an unsolicited takeover... Read More

Seven Generations shares slide after it increases 2018 capital spending plan

Seven Generations shares slide after it increases 2018 capital spending plan
CALGARY — Shares in Seven Generations Energy Ltd. (TSX:VII) fell by almost 10 per cent in morning trading after it announced plans to increase spending by five per cent to about $1.75 billion next year, despite an uncertain oil and gas price outlook. The Calgary-based company says its budget will allow it to grow production from its Montney wells in northwestern Alberta by around 15... Read More