Insurance, bank stocks pull TSX index lower; loonie up moderately

Insurance, bank stocks pull TSX index lower; loonie up moderately
TORONTO — Financial and industrial stocks have pushed Toronto’s stock market lower this morning. The Toronto Stock Exchange’s S&P/TSX composite index was down 63.91 points to 16,018.18, after 90 minutes of trading. In New York, the Dow Jones industrial average was down 46.01 points to 23,415.93. The S&P 500 index was down 5.82 points to 2,578.80 and the Nasdaq composite index was down 11.22 points to 6,738.83. The Canadian dollar was trading at 78.90 cents... Read More

Finning International reports third-quarter profit and revenue up from year ago

Finning International reports third-quarter profit and revenue up from year ago
VANCOUVER — Finning International Inc. says it earned $52 million in its latest quarter, up from $36 million a year ago, as revenue improved 16 per cent. The heavy equipment dealer (TSX:FTT) says the profit amounted to 31 cents per share, up from 22 cents per share in the same quarter last year. Revenue totalled $1.55 billion, up from $1.33... Read More

IBM urges B.C. government to use blockchain to track marijuana sales

IBM urges B.C. government to use blockchain to track marijuana sales
IBM Corp. is urging the B.C. government to use blockchain to track marijuana sales throughout the entire supply chain once recreational cannabis is legal next year. The U.S. technology giant says blockchain can help the province track cannabis from seed to sale in a secure way. IBM made these comments in its submission earlier this month as part of the B.C. government’s public... Read More

Give us our daily bread: why a food cartel probe is necessary

Give us our daily bread: why a food cartel probe is necessary
The Competition Bureau’s investigation into bread pricing is likely intended to tell Canadian grocers to stop squeezing food processors By Sylvain Charlebois Senior Fellow Atlantic Institute for Market Studies Is a bread cartel alive and well in Canada? The Competition Bureau is investigating major grocery chains in search of evidence of retail bread price fixing. Loblaws, Sobeys, Metro, Walmart and... Read More

Resource sectors push Toronto stock index up, U.S. stock markets higher

Resource sectors push Toronto stock index up, U.S. stock markets higher
TORONTO — The energy and materials sectors helped Canada’s main stock index move higher in late-morning trading, as oil, gold and copper prices moved up. The S&P/TSX composite index was up 70.17 points to 16,090.33, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 3.24 points to 23,542.43. The S&P 500 index was up 1.37... Read More

Ontario names first 14 cities to host pot shops

Ontario names first 14 cities to host pot shops
TORONTO — Ontario has named the first 14 cities where it will set up government-run marijuana stores by July 2018. The Liquor Control Board of Ontario, which will run the shops through a subsidiary, said Friday the stores will be located in Barrie, Brampton, Hamilton, Kingston, Kitchener, London, Mississauga, Ottawa, Sault Ste. Marie, Sudbury, Thunder Bay, Toronto, Vaughan and Windsor. The LCBO... Read More

Amazon to open second office in Vancouver: but no, it’s not the coveted HQ2

Amazon to open second office in Vancouver: but no, it’s not the coveted HQ2
VANCOUVER — Amazon says it will open a second corporate office in Vancouver, but it’s not the highly sought-after second headquarters that has commanded the attention of governments across North America. The office will be located downtown and employ an additional 1,000 workers. Amazon opened its first Vancouver office in 2015, which now employs more than 1,000 people, mostly software development... Read More

Stelco shares trading 11% above IPO price in first day of trading on TSX

Stelco shares trading 11% above IPO price in first day of trading on TSX
HAMILTON — Stelco Holdings Inc. is trading 11 per cent higher than its opening asking price on its first day of trading on the Toronto Stock Exchange. Stelco priced its initial public offering at $17 a share to pull in an expected $200 million. Its stock was up $1.90 at $18.90 in morning trading on the TSX. The Hamilton-based steel company says it plans to use... Read More

Killing the goose that laid the golden egg

Killing the goose that laid the golden egg
Increasingly harsh and ever-shifting resource-related government policies are killing jobs and making Canadians poorer By Mark Milke Contributor Canadians for Affordable Energy With the cancellation of TransCanada’s proposed Energy East pipeline – after the company spent $1 billion trying to jump through ever-changing regulatory and political hoops – Canadians should remind themselves where much of our country’s recent economic uptick... Read More

Constellation Brands to acquire 9.9 per cent stake in Canopy Growth for $245M

Constellation Brands to acquire 9.9 per cent stake in Canopy Growth for $245M
SMITH FALLS, Ont. — Constellation Brands has signed a deal to acquire a nearly 10 per cent stake in Canopy Growth Corp. (TSX:WEED) for $245 million, sending the Canadian marijuana company’s shares up as much as 20 per cent. Canopy chairman and chief executive Bruce Linton said the partnership marks the first major wine, beer and spirits producer to invest in... Read More