Suncor CEO Steve Williams to retire in May; Mark Little named as his replacement

Suncor CEO Steve Williams to retire in May; Mark Little named as his replacement
CALGARY — Suncor Energy Inc. says Steve Williams will retire as chief executive after the company’s annual meeting next May. Williams, 62, joined Suncor in 2002 and took the helm of Canada’s largest energy producer by market capitalization from longtime CEO Rick George when he retired in 2012. Williams has been one of the more outspoken CEOs in the oilpatch, insisting recently the company... Read More

Toronto edges higher on rise in gold while crude ends unprecedented slump

Toronto edges higher on rise in gold while crude ends unprecedented slump
TORONTO — Canada’s main stock index edged higher Wednesday as geopolitical anxiety sent investors searching for safety in gold and the energy sector rose as the price of oil ended an unprecedented slump. The backdrop was a series of geopolitical news from fresh anxiety about the status of the USMCA trade deal, trade talks between the U.S. and China, Italy resubmitting its... 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 (15,133.12, up 1.34 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 58 cents, or 6.64 per cent, to $8.16 on 21.7 million shares. Bombardier Inc. (TSX:BBD.B). Down five cents, or 2.22 per cent, to $2.20 on 21.3 million shares. RNC Minerals (TSX:RNX). Metals. Up one cent, or 1.85 per cent, to 55... Read More

CannTrust Q3 profit falls despite record revenues; filing for NYSE listing

CannTrust Q3 profit falls despite record revenues; filing for NYSE listing
VAUGHAN, Ont. — CannTrust Holdings Inc. posted record revenues in the third quarter but the licensed producer of medical and recreational cannabis saw its net income decrease 36 per cent in the quarter before legalization of recreational use in Canada. The Toronto-area company says it earned $421,240 or zero cents per share, compared with $655,309 or one cent per share... Read More

New Age Beverages Corporation Announces Q3 2018 Results

New Age Beverages Corporation Announces Q3 2018 Results
DENVER, CO –  NEW AGE BEVERAGES CORPORATION (NASDAQ: NBEV), the Colorado-based healthy lifestyle company focused on becoming the world’s leading healthy beverage company, today announced the results for the third quarter ended September 30, 2018. KEY HIGHLIGHTS: Balance sheet significantly strengthened with $12 million credit line, elimination of all debt, cash balanced increased to ≈$28 million and total assets increased to... Read More

Natural Resources minister says new pipelines the answer to oil price problems

Natural Resources minister says new pipelines the answer to oil price problems
CALGARY — Natural Resources Minister Amarjeet Sohi says he shares Albertan’s “frustration” at billions of dollars being lost to the Canadian economy due to oil price discounts linked to export pipeline capacity constraints. But he says Ottawa is focused on finding long-term solutions by getting approval for new export pipelines such as the Trans Mountain pipeline expansion project it bought in August... Read More

Canada Post strike having ‘critical’ impact on retailers, eBay tells Trudeau

Canada Post strike having ‘critical’ impact on retailers, eBay tells Trudeau
OTTAWA — Online sales and auctioning giant eBay called on the federal government Wednesday to legislate an end to the Canada Post contract dispute, warning that quick action is needed to ensure retailers don’t lose out on Black Friday and Cyber Monday sales. The plea, contained in a letter sent to Prime Minister Justin Trudeau on Tuesday, came as the... Read More

Canada’s cannabis product shortage, by the numbers

Canada’s cannabis product shortage, by the numbers
Industry insiders say the cannabis product shortages that have plagued many provinces will likely persist for years. Here are a few numbers on how Canadian recreational cannabis sales have unfolded during their first legal month: 132: The number of companies licensed to produce cannabis in Canada, according to Health Canada. 78: The number of companies with a licence for sales.... Read More

NASA wants Canadian boots on the moon as first step in deep space exploration

NASA wants Canadian boots on the moon as first step in deep space exploration
OTTAWA — The head of the U.S. space agency says he wants to see Canadian astronauts walking on the moon before long, as part of a first step toward the farther reaches of space. Jim Bridenstine, the administrator of the National Aeronautics and Space Administration, says he wants Canada’s decades-long space partnership with the U.S. to continue as NASA embarks on the creation... Read More

Cineplex shares plunge on third-quarter earnings miss despite higher revenues

Cineplex shares plunge on third-quarter earnings miss despite higher revenues
TORONTO — Hit films helped deliver box office and concession stand gains for Cineplex Inc., but that wasn’t enough to keep the entertainment giant from missing expectations as lower profits caused the company’s shares to fall by nearly 20 per cent. The Toronto-based movie theatre operator said Wednesday that it earned $10.2 million or 16 cents per diluted share for the company’s third quarter,... Read More