Montreal to host annual world artificial intelligence summit through 2021

Montreal to host annual world artificial intelligence summit through 2021
Montreal has been selected to host a major artificial intelligence summit for at least three years. The London-based firm behind World Summit AI says the event between 2019 to 2021 follows the second edition currently taking place in Amsterdam. Quebec’s largest city has become a global hub for research and excellence in AI, with participation from McGill University and the University... Read More

Aphria shares soar on reported talks with Altria for possible equity stake

Aphria shares soar on reported talks with Altria for possible equity stake
LEAMINGTON, Ont. — Shares of Aphria Inc. soared on Wednesday in the wake of a media report that said U.S. tobacco giant Altria Group Inc. was in talks with the licensed cannabis producer to acquire an equity stake. The Leamington, Ont.-based cannabis grower’s stock rose more than 15 per cent on Wednesday afternoon to close at $20.06. The stock surge came... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,517.40, down 336.65 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 11 cents, or 0.83 per cent, to $13.13 on 33.3 million shares. Aphria Inc. (TSX:APH). Health care. Up $2.64, or 15.1 per cent, to $20.06 on 26.4 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Down 26 cents, or 6.18 per cent,... Read More

Kelowna and Edmonton set to be ‘hot spots’ in cannabis real estate: RE/MAX

Kelowna and Edmonton set to be ‘hot spots’ in cannabis real estate: RE/MAX
TORONTO — Two cities in Western Canada have been named the next commercial real estate “hot spots” for the cannabis market, according to a report. Real estate firm RE/Max Commercial says that Kelowna, B.C., and Edmonton are both expected to see positive commercial growth in the coming months as a result of cannabis legalization. Prices for commercial real estate in the southern... Read More

Oil discounts grow as CEOs complain of Canada’s competitiveness gap

Oil discounts grow as CEOs complain of Canada’s competitiveness gap
CALGARY — Discounts on Canadian crude oil widened to multi-year highs on Wednesday as oil and gas executives took turns at a conference pointing out Canada’s competitiveness gap in attracting energy investors. Prices for both Western Canada Select, an oilsands bitumen blend, and Edmonton Sweet crude oil, fell relative to New York-traded West Texas Intermediate because of a lack of... Read More

Luxury bike wear company Kit and Ace parts ways with Lululemon founders

Luxury bike wear company Kit and Ace parts ways with Lululemon founders
Luxury bike wear company Kit and Ace is steering itself in a new direction without its famed co-founders. The Vancouver-based brand said that Shannon and J.J. Wilson — the wife and son of Lululemon Athletica Inc. founder Chip Wilson — are no longer involved in the company that they created in 2014. The duo has been replaced by members of the Kit and Ace... Read More

After backlash, Amazon to boost pay for longtime workers

After backlash, Amazon to boost pay for longtime workers
NEW YORK — Amazon, facing a backlash from longtime warehouse employees who say its $15 hourly minimum wage wouldn’t benefit them, will now provide a bigger raise to those workers. The company said Wednesday that “slight adjustments” are being made this week, and workers who already made $15 an hour will get more than the $1 an hour raise promised... Read More

Pot firms have ‘deficiencies’ in disclosures to investors: securities regulators

Pot firms have ‘deficiencies’ in disclosures to investors: securities regulators
TORONTO — Cannabis industry companies have several “deficiencies” in their disclosures to investors, including insufficient information in their financial statements, Canadian securities regulators say. The Canadian Securities Administrators reviewed the disclosures of 70 public companies in the marijuana industry and found licensed producers often did not provide enough information for an investor to understand their performance. The umbrella organization of the country’s provincial securities regulators... Read More

US Treasury issues new rules on foreign investments

US Treasury issues new rules on foreign investments
WASHINGTON — The Treasury Department has issued new rules on foreign investments into American companies that will give the government more power to block foreign transactions on national security grounds. The rules represent the latest escalation in an intensifying economic conflict between the United States and China. It will implement a program for tougher reviews of foreign acquisitions that Congress... Read More

North American stock markets slide lower, loonie lower against U.S. dollar

North American stock markets slide lower, loonie lower against U.S. dollar
TORONTO — Canada’s main stock index posted a triple-digit decline in late-morning trading, weighed down by the broad-based decline led by the energy, industrial and technology sectors. The S&P/TSX composite index was down 253.04 points at 15,601.01. In New York, the Dow Jones industrial average was down 309.73 points at 26,120.84. The S&P 500 index was down 31.96 points at... Read More