Aurora Cannabis to spin off U.S. holdings to publicly traded Australis Capital

Aurora Cannabis to spin off U.S. holdings to publicly traded Australis Capital
EDMONTON — Aurora Cannabis Inc. is planning to spin off its Australis Capital subsidiary as a separate entity that would focus primarily on investing in the U.S. cannabis and real estate sectors. The spin-off will be achieved by distributing shares and warrants of the new company — to be listed on the Canadian Security Exchange. “The fragmented U.S. cannabis market has... Read More

Statistics Canada says manufacturing sales fell 1.3% in April to $56.2 billion

Statistics Canada says manufacturing sales fell 1.3% in April to $56.2 billion
OTTAWA — Canadian manufacturing sales unexpectedly fell in April as sales in the petroleum and coal products and transportation equipment industries dropped. Statistics Canada said Friday factory sales dropped 1.3 per cent to $56.2 billion in April, following two consecutive monthly increases. Economists had expected an increase of 0.6 per cent, according to Thomson Reuters Eikon. Manufacturing sales in volume terms... Read More

Union at Halifax shipyard building Royal Canadian Navy ships gives strike notice

Union at Halifax shipyard building Royal Canadian Navy ships gives strike notice
HALIFAX — The union at the Halifax shipyard where some of the Royal Canadian Navy’s new ships are being built has given 48-hour strike notice, with picket lines expected to go up Saturday morning. A news release issued late Wednesday by Unifor says a strong majority of the unionized employees at Irving’s Halifax Shipyard have rejected a tentative contract. Unifor Marine... Read More

AP Investigation: Local fish isn’t always local

AP Investigation: Local fish isn’t always local
MONTAUK, N.Y. — Caterers in Washington tweeted a photo of maroon sashimi appetizers served to 700 guests attending the governor’s inaugural ball last year. They were told the tuna was from Montauk. But it was an illusion. It was the dead of winter and no yellowfin had been landed in the New York town. An Associated Press investigation traced the... Read More

New marine fuel standards expected to hit prices for oilsands crude in 2020

New marine fuel standards expected to hit prices for oilsands crude in 2020
CALGARY — Canada’s oilsands industry, hard hit by a price storm this year, could be sailing straight into a pricing typhoon stirred up by new fuel standards for the international shipping industry. The tighter pollution rules by the International Maritime Organization, dubbed IMO 2020, are set to take effect Jan. 1, 2020, resulting in the sulphur content limit of “bunker” fuel on ships dropping from 3.5 per... Read More

New U.S. pipeline expected to lower natural gas prices in Central Canada

New U.S. pipeline expected to lower natural gas prices in Central Canada
CALGARY — Consumers in Ontario and Quebec can expect to pay less for natural gas to heat their homes as a new pipeline connects shale gas from the northeastern United States to the Dawn storage hub near Sarnia in southwestern Ontario. The Rover Pipeline last week won approval from the U.S. energy regulator to increase shipping to its capacity of 3.25 billion cubic... Read More

Akita Drilling buying U.S.-focused Xtreme Drilling in $209-million deal

Akita Drilling buying U.S.-focused Xtreme Drilling in $209-million deal
CALGARY — Akita Drilling Ltd. is buying U.S.-focused rival Xtreme Drilling Corp. in a $209-million cash-and-shares deal designed to gain greater access to the more active U.S. oil and gas exploration market. The Calgary-based companies say the resulting medium-sized drilling firm will have a total of 44 rigs in major resource basins in Canada and the United States. Akita, which has been focused on... Read More

Ottawa will work with Canadian aluminum, steel companies to ensure jobs safe: PM

Ottawa will work with Canadian aluminum, steel companies to ensure jobs safe: PM
HALIFAX — Prime Minister Justin Trudeau pledged Friday to work with Canadian companies hit by punishing U.S. tariffs to protect jobs and workers north of the border, but offered no details about what that might mean as the bilateral trade war continued to escalate. In a CBC radio interview in Halifax, Trudeau slammed the widely denounced U.S. measures as “ridiculous”... Read More

Canada responds to U.S. steel, aluminum tariffs with ‘countermeasures’ of its own

Canada responds to U.S. steel, aluminum tariffs with ‘countermeasures’ of its own
WASHINGTON — Canada is imposing dollar-for-dollar tariff “countermeasures” on up to $16.6 billion worth of U.S. imports in response to the American decision to make good on its threat of similar tariffs against Canadian-made steel and aluminum. The tariffs, which apply to a long list of U.S. products that includes everything from flat-rolled steel to playing cards and felt-tipped pens,... Read More

As tariffs loom, a look at Canada’s steel, aluminum industries, by the numbers

As tariffs loom, a look at Canada’s steel, aluminum industries, by the numbers
OTTAWA — The Trump administration says it will go ahead with plans to hit Canada, Mexico and the European Union with hefty tariffs on steel and aluminum, effective midnight Thursday night. Here are some facts and figures about the steel and aluminum industries in Canada: STEEL Production: About 13 billion tonnes a year. Sales: About $14 billion. Jobs: 22,000 direct, 100,000 indirect.... Read More