Sun Life boosts dividend as first-quarter net income beats analyst estimates

Sun Life boosts dividend as first-quarter net income beats analyst estimates
TORONTO — Sun Life Financial Inc. says it will boost its dividend as its first-quarter earnings results beat analyst expectations. The Toronto-based financial services firm says it earned net income of $770 million in the three months ended March 31, up from $573 million a year earlier. Earnings per share were $1.26, compared with year-earlier earnings of 93 cents per share. Analysts surveyed... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,842.71, up 34.08 points) Cenovus Energy Inc. (TSX:CVE). Oil and gas. Up 41 cents, or 3.04 per cent, to $13.90 on 10.3 million shares. Baytex Energy Corp. (TSX:BTE). Oil and gas. Up 20 cents, or 3.53 per cent, to $5.86 on 9.1 million shares. Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down... Read More

CGI buying back 3.6 million of its shares from the Caisse for $272.8 million

CGI buying back 3.6 million of its shares from the Caisse for $272.8 million
MONTREAL — Information technology company CGI Group Inc. says it has reached an agreement to pay $272.8 million to purchase more than 3.6 million of its shares held by the Caisse de depot et placement du Quebec. The Montreal-based company says it will pay $75.06 per Class A share, less than the $77.75 they traded at Tuesday afternoon on the Toronto... Read More

Pipeline plight: Carr confident feds will convince Kinder Morgan to proceed

Pipeline plight: Carr confident feds will convince Kinder Morgan to proceed
OTTAWA — Natural Resources Minister Jim Carr says he is absolutely certain Canada and Kinder Morgan will come to a financial agreement that will convince the pipeline builder to proceed with the Trans Mountain expansion before a May 31 deadline. Speaking at a Canadian Global Affairs Institute conference Tuesday, Carr said it was understandable that the threat of “endless court action” gave Kinder... Read More

Scotiabank raises benchmark 5-year fixed mortgage rate, following moves by peers

Scotiabank raises benchmark 5-year fixed mortgage rate, following moves by peers
TORONTO — Scotiabank has joined its Big Five banking peers in raising its benchmark fixed-rate mortgage rate. Canada’s third-biggest lender raised the posted rate for a five-year fixed-rate mortgage from 5.14 per cent to 5.34 per cent, effective Tuesday, while also increasing the posted rates for other terms. Late last month, TD Bank was the first of the Big Five lenders to raise the benchmark rate, increasing... Read More

Uncertainty over marine protection areas hurts offshore investment: N.L. premier

Uncertainty over marine protection areas hurts offshore investment: N.L. premier
ST. JOHN’S, N.L. — Newfoundland and Labrador’s premier says confusion and uncertainty over federal efforts to protect marine areas have stranded crucial offshore oil investment. Dwight Ball says future decisions should be timely and based on good science — not pressure from what he called special interest groups. He made the comments to the National Advisory Panel on Marine Protected... Read More

Nevsun shares up after rejecting $1.5-billion unsolicited takeover offer

Nevsun shares up after rejecting $1.5-billion unsolicited takeover offer
VANCOUVER — Shares in Nevsun Resources Ltd. gained more than 15 per cent in late-morning trading after it rejected an unsolicited $1.5-billion takeover offer by Euro Sun Mining Inc. that included Lundin Mining Corp. Nevsun said the offer failed to reflect the strategic value of its asset base and presented a problematic structure that could further undermine value to its... Read More

Freeland’s childbirth metaphor on NAFTA: Contractions happening, due date TBD

Freeland’s childbirth metaphor on NAFTA: Contractions happening, due date TBD
WASHINGTON — Foreign Affairs Minister Chrystia Freeland is using a childbirth metaphor to describe the state of the NAFTA negotiations. She says contractions are happening, but it’s unclear when a new deal will be delivered. Her comment comes after the first of what might be several meetings with the U.S. trade czar, in an anticipated days-long effort to complete a trade agreement. Freeland... Read More

Royal Dutch Shell to sell its stake in Canadian Natural Resources

Royal Dutch Shell to sell its stake in Canadian Natural Resources
TORONTO — Royal Dutch Shell is selling its stake in Canadian Natural Resources Ltd. for about $4.3 billion. The sale of more than 97 million shares represents Shell’s entire interest in Canadian Natural, a roughly eight per cent stake in the company. Shell said in a statement Monday night that proceeds from the sale will contribute to reducing net debt. The... Read More

Fintech TransferWise to launch borderless debit card in Canada in 2019

Fintech TransferWise to launch borderless debit card in Canada in 2019
TORONTO — European financial technology company TransferWise is planning a Canadian launch next year for its borderless debit card, which allows users to hold balances in multiple currencies and spend it at home and abroad with lower foreign exchange fees than traditional banks. TransferWise CEO and co-founder Kristo Kaarmann says the card, which was launched in the U.K. and the Eurozone two weeks ago, is useful for... Read More