Money laundering through B.C. casinos tied to opioid crisis: report

Money laundering through B.C. casinos tied to opioid crisis: report
VANCOUVER — Money-laundering operations through casinos are tied to British Columbia’s opioid crisis and the real-estate market, the attorney general said Wednesday as he released an independent report detailing how organized crime groups used the gaming industry to fuel the overdose crisis and skyrocketing housing prices. David Eby said the problem surfaced in 2011 but the former Liberal government failed to address “serious crime... Read More

Sony’s video-on-demand platform Crackle to halt its Canadian service

Sony’s video-on-demand platform Crackle to halt its Canadian service
TORONTO — Sony Pictures’ free streaming video platform Crackle is packing up its Hollywood movies and leaving Canada. The ad-supported service has posted a notice on its website saying that starting Thursday it will no longer offer its library of older movies and TV shows to Canadian viewers. The move comes as Bell Media prepares to launch two of its own video-on-demand platforms, CTV Movies and... Read More

Federal carbon tax could pose costly drain on Saskatchewan economy: study

Federal carbon tax could pose costly drain on Saskatchewan economy: study
REGINA — A study by the University of Regina says the federal carbon tax could potentially reduce Saskatchewan’s gross domestic product by almost $16 billion between 2019 and the end of 2030. The study says even the most conservative scenario shows a carbon tax of $50 per tonne would reduce provincial GDP by 2.43 per cent, or $1.8 billion annually. The study... Read More

Perception of foreign ownership heavily influences housing prices: CMHC

Perception of foreign ownership heavily influences housing prices: CMHC
TORONTO — Foreign buyers might make up a small sliver of Canada’s biggest real estate markets, but homebuyers in Toronto, Vancouver and Montreal still believe they are heavily influencing housing activity. A study from the Canada Mortgage and Housing Corporation released Wednesday found that 68 per cent of Vancouver respondents, 48 per cent of Toronto respondents and 42 per cent... Read More

Canopy Growth reports $61.5M Q4 loss as it prepares for legal marijuana market

Canopy Growth reports $61.5M Q4 loss as it prepares for legal marijuana market
SMITHS FALLS, Ont. — Canopy Growth Corp. reported a fourth-quarter loss of $61.5 million as it prepared for the launch of the legal Canadian recreational cannabis market later this year. The loss amounted to 31 cents per share for the quarter ended March 31 compared with a loss of $12 million or eight cents per share a year ago. Revenue... Read More

B.C. to release long-awaited money-laundering report by anti-corruption expert

B.C. to release long-awaited money-laundering report by anti-corruption expert
VICTORIA — British Columbia Attorney General David Eby is expected to release an independent report today that examines money laundering in the province’s gambling industry. Former RCMP deputy commissioner Peter German was appointed to do a review after a Vancouver-area casino accepted $13.5 million in $20 bills over a one-month period in 2015, with police saying it could be proceeds of crime.... Read More