Auto sales fall 2.5 per cent in March as downward trend continues

Auto sales fall 2.5 per cent in March as downward trend continues
TORONTO — Light vehicle sales in Canada continued a downward trajectory in March, falling 2.5 per cent compared to a year earlier, says DesRosiers Automotive Consultants Inc. The automotive consultant says light vehicle sales totalled 181,800 units in March, down from 186,447 in the same month last year. The dip in March marked the 13th month in a row of monthly sales declines when... Read More

Major Canadian canola exporter to China says finding new markets not easy

Major Canadian canola exporter to China says finding new markets not easy
OTTAWA — The head of one of Canada’s biggest exporters of canola seed to China warned Tuesday that if the Asian country’s ban on Canadian firms drags on that finding new markets for the product “will not be a painless exercise.” Curt Vossen of Richardson International Ltd. made the comment Tuesday to a parliamentary committee studying an escalating trade dispute that has seen China suspend his company’s licence and that of another... Read More

Stock market rally after December plunge helps pension plans in Q1: reports

Stock market rally after December plunge helps pension plans in Q1: reports
TORONTO — The financial strength of Canada’s defined benefit pension plans improved over the first quarter of 2019, two of the country’s largest pension advisory firms said Tuesday in separate reports. Aon and Mercer both said defined benefit investment portfolios were improved because a rally on domestic and foreign stock markets increased the value of their assets. That was partly offset by an increase in plan... 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 (16,263.87, up 35.81 points). Encana Corp. (TSX:ECA). Energy. Down 29 cents, or 2.93 per cent, to $9.60 on 7.9 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Down 11 cents, or 0.9 per cent, to $12.09 on 6.7 million shares. Prometic Life Sciences Inc. (TSX:PLI). Health care. Down... Read More

Metro Vancouver’s dismal home sales in March blamed on government policies

Metro Vancouver’s dismal home sales in March blamed on government policies
VANCOUVER — Home sales in Metro Vancouver in March plunged to levels not seen in more than three decades and real-estate experts blame government policies, not a lack of demand, for the dismal showing. The Real Estate Board of Greater Vancouver reports 1,727 homes changed hands, a 31.4 per cent tumble from sales recorded for the same month last year. March 2019 sales were... Read More

Cenovus asks investors to vote against emissions target motion at annual meeting

Cenovus asks investors to vote against emissions target motion at annual meeting
CALGARY — Oilsands producer Cenovus Energy Inc. is recommending investors at its annual general meeting vote against a shareholder motion requiring it to set greenhouse gas emission targets aligned with the goals of the Paris climate accord. The proposal by the Fonds de Solidarite des Travailleurs du Quebec would force Cenovus to set medium- and long-term targets for its direct... Read More

Stocks down on Canadian and U.S. markets, loonie edges lower against U.S. dollar

Stocks down on Canadian and U.S. markets, loonie edges lower against U.S. dollar
TORONTO — Broad-based weakness weighed on Canada’s main stock index in late-morning trading despite gains in the price of oil, while U.S. stock markets headed lower. The S&P/TSX composite index was down 7.51 points at 16,220.55. In New York, the Dow Jones industrial average was down 110.64 points at 26,147.78. The S&P 500 index was down 6.13 points at 2,861.06, while... Read More

Halifax software firms to get $1.7 million in provincial payroll rebates

Halifax software firms to get $1.7 million in provincial payroll rebates
HALIFAX — Two Halifax-based software firms are expanding operations, with the help of about $1.7-million in payroll rebates over five years from Nova Scotia Business Inc. The province’s business development agency says Proposify would be eligible for about $1 million in payroll rebates over the length of the agreement if it creates up to 58 jobs. The online business proposal company would... Read More

Oil storage firm Gibson Energy sells trucking assets to grow terminal core

Oil storage firm Gibson Energy sells trucking assets to grow terminal core
CALGARY — Gibson Energy Inc. says the sale of its trucking arm means it has completed all of the non-core asset sales it targeted a year ago as part of a strategy to focus on its Alberta oil storage and handling assets. The Calgary-based company, which helps send one in four barrels of crude exported from Western Canada through its Hardisty terminal in... Read More

Loans, mortgage growth moderating but risk of recession low: BMO CEO

Loans, mortgage growth moderating but risk of recession low: BMO CEO
TORONTO — The Bank of Montreal’s chief executive says it has seen a “moderation of growth” in Canadian consumer loans and mortgages but its economists say the risk of recession in the year ahead remains “relatively low.” BMO CEO Darryl White says the moderation was both “healthy and expected” and credit quality continues to be “very good” in these consumer... Read More