Resolute to sell South Carolina pulp and paper mill for $385 million

Resolute to sell South Carolina pulp and paper mill for $385 million
MONTREAL — Resolute Forest Products Inc. says it has reached a deal to sell a pulp and paper mill in South Carolina for about $385 million to New-Indy Containerboard LLC. The price for the Catawba, S.C. mill includes about C$333.5 million (US$260 million) in cash plus assumption by the buyer of about $51.5 million of largely pension-based liabilities. Resolute says the sale... Read More

Auto sales down 7.4 per cent in September for largest drop since 2009

Auto sales down 7.4 per cent in September for largest drop since 2009
TORONTO — DesRosiers Automotive Consultants says new light vehicle sales were down by 7.4 per cent in September compared with the same month last year for the largest monthly drop since 2009. Sales were down by close to 14,000 units to total about 173,000 passenger cars and light trucks sold in September, making it the lowest sales figure for the month since 2014. DesRosiers... 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 (16,017.23, down 87.20 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 53 cents, or 4.25 per cent, to $11.93 on 24.8 million shares. Element Fleet Management Corp. (TSX:EFN). Financials. Up $1.35, or 20.15 per cent, to $8.05 on 13.2 million shares. RNC Minerals. (TSX:RNX). Metals. Down three cents, or 3.2 per cent,... Read More

U.S.-based Lime to roll out electric scooters in Canada for first time

U.S.-based Lime to roll out electric scooters in Canada for first time
WATERLOO, Ont. — Lime is rolling out its electric scooter business for the first time in a Canadian market. The California-based brand says it began an e-scooter pilot program in Waterloo, Ont. on Tuesday on a network of local university and business campus roads. Lime doesn’t use docking stations for its e-scooters, which instead can be located and unlocked through the company’s app and picked up... Read More

Tesla 3Q production numbers up but can they be sustained?

Tesla 3Q production numbers up but can they be sustained?
Tesla Motors successfully ramped up production of its pivotal Model 3 sedan during the summer, fulfilling CEO Elon Musk’s pledge to work out the manufacturing problems that had raised questions about the electric car maker’s prospects. The company announced Tuesday that it produced 80,142 vehicles in the third quarter, marking a 50 per cent increase over the previous quarter. Tesla... Read More

Jack Ma says US-China trade war could last 20 years

Jack Ma says US-China trade war could last 20 years
GENEVA — Alibaba founder Jack Ma said Tuesday that the trade dispute between the U.S. and China could last 20 years. But he expressed hope that a solution could be reached as a trade war would “hurt everybody.” The Chinese e-commerce billionaire also questioned the focus among some on trade deficits, calling it a relic of the 20th century. U.S.... Read More

Calgary-based author Chris Turner’s look at pipelines wins business book award

Calgary-based author Chris Turner’s look at pipelines wins business book award
TORONTO — A comprehensive look at Canada’s pipeline debate by Calgary-based author Chris Turner has won the $30,000 National Business Book Award. “The Patch: The People, Pipelines, and Politics of the Oil Sands” (Simon & Schuster) was awarded the top prize at an awards ceremony in Toronto on Tuesday. The award for the most outstanding Canadian business-related book in 2018... Read More

TSX down, while U.S. stock markets mixed; Canadian dollar trades lower

TSX down, while U.S. stock markets mixed; Canadian dollar trades lower
TORONTO — Weakness in the key energy, financial and industrial sectors weighed on Canada’s main stock index in late-morning trading. The S&P/TSX composite index was down 70.47 points at 16,033.96. In New York, the Dow Jones industrial average was up 77.06 points at 26,728.27. The S&P 500 index was down 0.44 of a point at 2,924.15, while the Nasdaq composite... Read More

Court rules Canada’s TV regulator exceeded its authority with restrictions on Bell

Court rules Canada’s TV regulator exceeded its authority with restrictions on Bell
TORONTO — Bell Canada and its media arm have won a round in their battle against regulatory restrictions on their activities as television content producers and distributors. The Federal Court of Appeal has issued a 2-1 split decision that agrees with Bell’s argument that the Broadcasting Act doesn’t give the CRTC authority to enforce its “wholesale code.” The Canadian Radio-television and Telecommunications Commission introduced... Read More