First Cobalt to acquire US Cobalt in a friendly stock deal amid growing interest

First Cobalt to acquire US Cobalt in a friendly stock deal amid growing interest
TORONTO — First Cobalt Corp. says it will take over US Cobalt Inc. in an all-share deal valued at $150 million as it looks to add to its supply of the industrial metal ahead of increased demand. The friendly deal, which requires approval by US Cobalt shareholders, comes as growing investments and demand in electric vehicles has spurred interest in key metals like... Read More

CN Rail network beginning to recover in March from weak winter, says interim CEO

CN Rail network beginning to recover in March from weak winter, says interim CEO
MONTREAL — Canadian National Railway Co. is beginning to recover from a turbulent end to 2017 and deep winter freeze that curtailed its service, the railroad’s interim CEO said Wednesday. Jean-Jacques Ruest told an investor conference Wednesday that February was among the worst months in the company’s history as volume decreased and costs rose. But train speeds have picked up and the railway is moving more... Read More

Sobeys parent company plans ahead for grocery war as competitors rush to market

Sobeys parent company plans ahead for grocery war as competitors rush to market
As the grocery wars heat up with companies across the country ramping up their delivery and e-commerce efforts, Sobeys’ parent company is looking to play the long game. Empire Co. Ltd. is waiting for the spring of 2020 to roll out its online grocery business that will be run in partnership with British firm Ocado, said CEO Michael Medline on an earnings call Wednesday. “I’d rather be up... Read More

Condensate growth boosts Seven Generation’s fourth-quarter revenue, income

Condensate growth boosts Seven Generation’s fourth-quarter revenue, income
CALGARY — Seven Generations Energy Ltd. beat revenue expectations with fourth-quarter results boosted by higher production and prices for condensate, a premium-priced petroleum liquid produced with natural gas from its northwestern Alberta wells. The Calgary-based company says it earned $83.6 million or 23 cents per share for the three months ended Dec. 31, compared with a loss of $105 million or 30 cents... Read More

Are food-sharing apps a blue ribbon-worthy idea or half-baked fad?

Are food-sharing apps a blue ribbon-worthy idea or half-baked fad?
TORONTO — Apps that allow home chefs to sell dishes prepared in their personal kitchens have cropped up in Canada, but uncertainties about health regulations and the strength of consumer demand are raising questions about whether the business models are blue ribbon-worthy or half-baked fads. Food-sharing platform LaPiat, which plans to launch in April, provides a platform for entrepreneurial cooks in the Greater Toronto Area to make some extra cash from... Read More

New mortgage rules behind slide in B.C. home sales: real estate association

New mortgage rules behind slide in B.C. home sales: real estate association
VANCOUVER — The British Columbia Real Estate Association says tough mortgage qualification rules are a key reason for a provincewide drop in housing demand last month compared with February 2017. The association says home sales fell 5.7 per cent in February, with about 6,200 properties changing hands. Chief economist Cameron Muir says on a seasonally adjusted basis, sales have plummeted more than 26 per cent since... Read More

United States hits Canadian forestry industry with more duties

United States hits Canadian forestry industry with more duties
WASHINGTON — The American government hit the Canadian forestry industry with more duties late Tuesday as it upheld counterveiling duties on Canadian newsprint. The United States Department of Commerce said in a statement that a preliminary investigation found Canadian exporters underpriced uncoated groundwood paper by between 0 and 22.16 per cent. Uncoated groundwood paper includes newsprint, as well as book publishing, printing and writing papers. “President Trump... Read More

Suncor says Syncrude maintenance turnaround planned for April to start early

Suncor says Syncrude maintenance turnaround planned for April to start early
CALGARY — Suncor Energy Inc. says an eight-week maintenance project at Syncrude that had been scheduled to begin in April will start Thursday. The company says advancing the turnaround will permit Syncrude to deal with an unrelated issue which has been constraining capacity on a line that feeds bitumen from the mine to the upgrader. Suncor says the change in... Read More

Peladeau says Quebecor has $2 billion available for networks, stock buybacks

Peladeau says Quebecor has $2 billion available for networks, stock buybacks
TORONTO — Quebecor Inc. is in a strong financial position and prepared to invest in its wireless and cable operations, CEO Pierre Karl Peladeau said Wednesday as the company reported its latest fourth-quarter results. “The corporation now has more than $2.0 billion in available liquidity, placing it in a powerful position in a highly competitive environment,” said Peladeau, who returned to Quebecor early last year... Read More

Silicon Valley Bank moving closer to opening first Canadian branch

Silicon Valley Bank moving closer to opening first Canadian branch
TORONTO — California-based Silicon Valley Bank has taken two major steps towards opening its first Canadian branch. The U.S. bank, which provides commercial banking to entrepreneurs, companies and investors in the technology and life science sectors, says it has received the green light from the Canadian Finance Department to establish a lending branch. Once it receives authorization from the federal financial services regulator, Silicon... Read More