Peladeau buying Montreal taxi firm, including insolvent electric taxi company

Peladeau buying Montreal taxi firm, including insolvent electric taxi company
MONTREAL — The head of Quebecor Inc. says he is personally acquiring the assets of Taxelco, which owns two large Montreal-area taxi companies and insolvent electric transportation firm Teo Taxi. Pierre Karl Peladeau says the deal results from the acceptance of the final purchase offer put forward by Placements Saint-Jerome, a division of Groupe Peladeau. The businessman posted online that the transaction is... Read More

CEO of Cogeco’s U.S. operations leaves to pursue unspecified personal interests

CEO of Cogeco’s U.S. operations leaves to pursue unspecified personal interests
MONTREAL — Cogeco Communications Inc. says the head of its main U.S. subsidiary, Atlantic Broadband, is leaving after a brief transition to pursue unspecified personal interests. Richard Shea has held senior positions at Atlantic Broadband since its creation in 2003 and has been its president and chief executive officer since 2015. Atlantic Broadband was acquired by Cogeco in 2012 as the Montreal-based... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (16,576.10, down 10.42 points). Bombardier Inc. (TSX:BBD.B). Industrials. Down 44 cents, or 15.07 per cent, to $2.48 on 75.8 million shares. Encana Corp. (TSX:ECA). Energy. Down 23 cents, or 2.26 per cent, to $9.93 on 6.9 million shares. Enbridge Inc. (TSX:ENB). Energy. Unchanged at $51.05 on 6.2... Read More

Nokia sees tough competition in market for 5G networks

Nokia sees tough competition in market for 5G networks
HELSINKI — Telecoms gear maker Nokia reported Thursday a surprise first-quarter loss amid tougher competition for the new, superfast wireless 5G networks that are expected to increase in business this year. The company, based in Espoo, Finland, said its net loss for the January-March period was 116 million euros ($130 million), against profit of 83 million euros a year earlier.... Read More

Ontario pot retailers who failed to open stores by April 15 face more penalties

Ontario pot retailers who failed to open stores by April 15 face more penalties
TORONTO — Cannabis retailers in Ontario who have failed to open their stores by a government-set deadline are facing a new round of financial penalties. In all, eleven pot retailers have been fined $12,500 each for not opening their stores by April 15. Twenty-five retailers were selected through a government lottery to open the first brick-and-mortar cannabis stores on April 1, but less than half... Read More

Lucara Diamond finds another big diamond at Karowe mine in Botswana

Lucara Diamond finds another big diamond at Karowe mine in Botswana
VANCOUVER — Lucara Diamond Corp. says it has found a 1,758-carat diamond at its Karowe diamond mine located in Botswana. The company says it is one of the largest diamonds ever found and the largest diamond to be mined at Karowe so far. Lucara chief executive Eira Thomas says the Karowe mine has now produced two diamonds greater than 1,000... Read More

Air Canada scrubs 737 Max jets from schedule through July as cost concerns rise

Air Canada scrubs 737 Max jets from schedule through July as cost concerns rise
MONTREAL — Air Canada says it is removing its grounded Boeing 737 Max jets from service until at least Aug. 1 in order to provide more certainty for passengers with summer travel plans. Canada’s largest airline, which had previously scrubbed the planes from schedules until July 1, says it has taken several steps to adjust since Transport Canada banned the 737 Max from Canadian airspace... Read More

Aecon beats expectations as first-quarter loss cut in half on higher revenues

Aecon beats expectations as first-quarter loss cut in half on higher revenues
TORONTO — Aecon Group Inc. beat analyst expectations as its net loss was cut by more than half in the first quarter on a 20-per-cent growth in revenues and a higher backlog. The Toronto-based construction firm says it lost $9.8 million or 16 cents per diluted share for the period ended March 31, compared with a loss of $19.2 million or 32... Read More

Self-employed increasingly turning to private lenders for mortgages

Self-employed increasingly turning to private lenders for mortgages
TORONTO — The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage. While many prospective homeowners are driven to alternate lenders because of government-mandated stress tests and poor credit scores, the self-employed often have additional burdens to overcome in proving their income. “There’s more and more people seeking private loans than ever... Read More