Activist investor sues Hudbay Minerals over regulatory filings ahead of meeting

Activist investor sues Hudbay Minerals over regulatory filings ahead of meeting
TORONTO — An activist investor has launched a legal suit against Hudbay Minerals Inc. over the way it’s been represented in company filings. Waterton Global Resources, which owns about 12 per cent of Hudbay stock, has accused Hudbay of making “inflammatory and inaccurate aspersions” against it in an information circular ahead of the company’s May 7 special and annual meeting. The... Read More

Canadian Civil Liberties Association files lawsuit over Sidewalk Labs project

Canadian Civil Liberties Association files lawsuit over Sidewalk Labs project
TORONTO — The Canadian Civil Liberties Association says it’s making good on its threat to sue all three orders of government over Google’s plans for a high-tech neighbourhood in Toronto. The association announced it was filing suit against the federal, provincial and municipal governments as well as Waterfront Toronto, the lead organization partnering with Google on the project dubbed Sidewalk... Read More

Canada Post forecasts continuing sector losses despite booming parcel deliveries

Canada Post forecasts continuing sector losses despite booming parcel deliveries
OTTAWA — Canada Post says it will struggle to make a profit in coming years despite booming parcel delivery because of a continuing decline in letter mail, higher employee costs and billions in capital spending. In a corporate forecast quietly tabled in Parliament, the Crown corporation says it is expecting to achieve “modest” profits of between $10 million and $125 million from 2019 through... Read More

Canopy Growth CEO expects to hit $1B in revenue for fiscal year 2020

Canopy Growth CEO expects to hit $1B in revenue for fiscal year 2020
TORONTO — Canopy Growth Corp.’s co-chief executive says he is expecting a “growth quarter” ahead and foresees the cannabis company will generate $1 billion in revenue during its next financial year. Bruce Linton says the Smiths Falls, Ont.-based licensed producer has ramped up the pace of its packaging and shipping processes and anticipates sales growth to accelerate by the final... Read More

CEO says future of Bombardier’s regional jet depends on beefing up backlog

CEO says future of Bombardier’s regional jet depends on beefing up backlog
MONTREAL — The head of Bombardier Inc. says the continuation of its regional jet program hinges on whether the company can fill up the CRJ’s partly blank order book. “We’re trying to keep this product line going, because there’s only two competitors there,” Alain Bellemare said. “But it depends if we can fill up the backlog.” “We’re assessing options as we speak, so we’ll... Read More

Nova Scotia seeking firms to explore possibility of digging out remaining coal

Nova Scotia seeking firms to explore possibility of digging out remaining coal
HALIFAX — Nova Scotia’s Liberal government wants to retrieve coal from old mines, even as its federal counterpart aims for the phasing out of coal-fired electricity. A provincial request for proposals is asking firms to determine if it would be viable and safe to mine coal left around inactive, underground shafts in the Westville area. Pictou County has many shafts beneath communities — including the town of Westville — where underground coal mining took place... Read More

Mortgage stress test accounts for up to $15B drop in new mortgages in 2018: CIBC

Mortgage stress test accounts for up to $15B drop in new mortgages in 2018: CIBC
A new report by CIBC estimates Ottawa’s new mortgage stress tests last year accounted for at least half of the decline in new mortgage originations. Benjamin Tal, deputy chief economist at CIBC World Markets Inc., says the total value of new mortgages fell by eight per cent or $25 billion in 2018. He estimates the impact of the new stress test made up $13 billion... Read More

Aurora Cannabis to buy remaining interest in Hempco Food and Fiber

Aurora Cannabis to buy remaining interest in Hempco Food and Fiber
EDMONTON — Aurora Cannabis Inc. plans to acquire the remaining 48 per cent of Hempco Food and Fiber Inc. that it does not already own through an exchange of shares. Under a friendly agreement between the companies, Edmonton-based Aurora will pay the equivalent of $1.04 per Hempco share, payable in Aurora shares. Hempco shares closed at 91 cents on the TSX Venture... Read More

Foxconn head says he’s stepping back from daily operations

Foxconn head says he’s stepping back from daily operations
TAIPEI, Taiwan — The head of Foxconn Technology Group says he is planning to step away from day-to-day operations at the world’s largest electronics provider. Terry Gou told reporters Monday at an event in Taipei that he wants to work on a book about his management philosophy honed over 45 years and prepare a younger generation to eventually take over... Read More