February 12, 2019 – Canadian Investor

Minnesota governor sides with environmentalists on pipeline

February 12, 2019 CanadianInvestor

ST. PAUL, Minn. — Minnesota Gov. Tim Walz said Tuesday that his administration will keep pursuing an appeal of an independent regulatory commission’s approval of Enbridge Energy’s plan to replace its aging Line 3 crude oil pipeline across in northern Minnesota, siding with environmental and tribal groups in his biggest and most controversial decision since becoming governor last month. The... Read More

US expects record domestic oil production in 2019, 2020

February 12, 2019 CanadianInvestor

The U.S. says domestic oil production levels will reach new heights this year and next, and that prices will be lower than they were in 2018. The U.S. Energy Information Administration said Tuesday that it expects the United States to pump 12.4 million barrels of crude a day in 2019 and 13.2 million barrels a day in 2020. The January... Read More

DHX Media says its WildBrain kids unit tapping growth from online streaming

February 12, 2019 CanadianInvestor

TORONTO — DHX Media Ltd. sees the new YouTube Kids mobile app and streaming services from Apple, Amazon and Roku as promising new ways to generate revenue from its library of video programming, senior executives said Tuesday. “One of the pillars of our strategy is to produce premium content for the world’s leading streaming and broadcasting kids platforms,” executive chairman and CEO... Read More

Most actively traded companies on the TSX

February 12, 2019 Editor

Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,642.10, up 73.25). Aurora Cannabis Inc. (TSX:ACB). Health care. Down three cents, or 0.32 per cent, to $9.47 on 26.8 million shares. Encana Corp. (TSX:ECA). Energy. Down six cents, or 0.74 per cent, to $8.06 on 11 million shares. Aphria Inc. (TSX:APHA). Health care. Up 88 cents, or 7.91... Read More

Tariffs take toll on whiskey exports in last half of 2018

February 12, 2019February 12, 2019 CanadianInvestor

LOUISVILLE, Ky. — Retaliatory tariffs caused a sharp downturn in American whiskey exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday. Exports to some key overseas markets gyrated wildly last year for producers of bourbon, Tennessee whiskey and rye whiskey. Overall, U.S. spirits exports in 2018... Read More

High Tide signs letter of intent with second Ontario pot store lottery winner

February 12, 2019 Editor

TORONTO — High Tide Inc. has signed a letter of intent to assist a second lottery winner selected to apply for one of the first 25 cannabis retail licences in Ontario. The cannabis retailer did not disclose the lottery winner, but said High Tide has signed a letter of intent to help open a legal recreational weed store at a... Read More

Ricardo shutters English-language food magazine in favour of digital strategy

February 12, 2019 CanadianInvestor

Ricardo Media is shutting down its English-language food magazine, citing high distribution costs and shift towards digital media. The company announced Tuesday the last issue of Ricardo, an English version of the long-running French glossy, will hit newsstands on March 18. Launched in 2014, the publication was seen as a bilingual expansion of Quebec chef Ricardo Larrivee’s culinary empire, which spans cookbooks, kitchen accessories, media partnerships and a website... Read More

Small-business lobby group sharpens criticism of Liberals’ carbon-tax program

February 12, 2019 CanadianInvestor

OTTAWA — An organization of small-business owners that helped spearhead a public campaign against the Trudeau government’s tax-change proposals for private corporations is sharpening its criticism of the Liberals’ forthcoming carbon-tax program. The carbon tax has generated intense political debate across the country and it’s destined to be a key campaign issue in October’s federal election. The Canadian Federation of Independent Business released a poll Tuesday that says the majority... Read More

Energy and financial help lift Toronto market, U.S. stock surge higher

February 12, 2019 CanadianInvestor

TORONTO — The key energy and financials sectors helped boost Canada’s main stock index in late-morning trading, while U.S. stocks also surged higher. The S&P/TSX composite index was up 51.48 points at 15,620.33. In New York, the Dow Jones industrial average was up 289.22 points at 25,342.33. The S&P 500 index was up 30.56 points at 2,740.36, while the Nasdaq... Read More

Shutdown-delayed trade data for December expected on March 6: Statistics Canada

February 12, 2019 CanadianInvestor

OTTAWA — Statistics Canada says it is working with the United States Census Bureau and plans to release the delayed December merchandise trade data on March 6. The data had been scheduled to be released on Feb. 5, but was delayed due to the U.S. government shutdown. Statistics Canada, which uses U.S. import data to measure Canadian exports to the United... Read More