Crude by rail a ‘temporary’ solution to pipeline shortage: CN Rail CEO

Crude by rail a ‘temporary’ solution to pipeline shortage: CN Rail CEO
MONTREAL — The head of Canada’s largest railway says ferrying crude remains a lucrative, albeit temporary solution to Canada’s pipeline quandary. “The role of the rail industry is a recent role and probably a temporary role. We’re not here to replace pipelines; we’re here to be a compliment for a period of time,” Canadian National Railway Co. chief executive Jean-Jacques Ruest told The... 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 (16,600.37, down 13.09 points). Sherritt International Corp. (TSX:S). Materials. Down 6.5 cents, or 25 per cent, to 19.5 cents on 10.5 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up two cents, or 0.85 per cent, to $2.36 on 9.3 million shares. Prometic Life Sciences Inc. (TSX:PLI). Health care. Unchanged at six cents... Read More

Moosehead Breweries and Sproutly to develop cannabis-infused beverages

Moosehead Breweries and Sproutly to develop cannabis-infused beverages
VANCOUVER — Moosehead Breweries Ltd. is the latest beverage company to form a joint venture to enter the cannabis-infused beverage market in Canada once it is legalized. An affiliate of the independent brewer, OCC Holdings Inc., is partnering with Sproutly Canada Inc. to develop, produce and market non-alcoholic beverages using Sproutly’s naturally-produced water soluble cannabinoids. The companies say their beverages would... Read More

Toronto stock market falls again while Nasdaq drops from high after Alphabet miss

Toronto stock market falls again while Nasdaq drops from high after Alphabet miss
TORONTO — Canada’s main stock index fell slightly for a second straight day while the Nasdaq dropped from Monday’s record high on a disappointing result from Google parent company Alphabet. The S&P/TSX composite index closed down 19.64 points at 16,580.73. In New York, the Dow Jones industrial average was up 38.52 points at 26,592.91. The S&P 500 index was up 2.80... Read More

Cryptocurrency mining companies welcome ruling keeping Quebec power prices low

Cryptocurrency mining companies welcome ruling keeping Quebec power prices low
MONTREAL — Cryptocurrency industry members in Quebec are welcoming a ruling by the province’s energy board that maintains current electricity rates and obliges the provincial utility to set aside 300 megawatts for new entrants. Hydro-Quebec wanted to create an auction system for electricity needed to mine digital currencies such as Bitcoin. It claimed that beginning in 2017, it received a rush of demands that exceeded available... Read More

Travel company Transat AT in talks regarding possible sale of company

Travel company Transat AT in talks regarding possible sale of company
MONTREAL — Transat AT Inc. says it is in preliminary talks regarding the possible sale of the company. The announcement came as the company prepared to hold its annual meeting in Montreal. The travel company says it is in talks with more than one party regarding a potential transaction following expressions of interest it received. Transat says it has formed a... Read More

New Brunswick’s cannabis retailer reports $11.7 million loss in first year

New Brunswick’s cannabis retailer reports $11.7 million loss in first year
FREDERICTON — New Brunswick’s Crown-owned cannabis retailer is recording a big financial loss in its first year in operation. Unaudited year-end results released Tuesday show Cannabis NB lost $11.7 million. The agency says sales of legal cannabis for the fourth quarter were $9.7 million, resulting in a year-end total of $18.6 million. General manager Lara Wood says the government knew... Read More

Shopify reports first-quarter loss, revenue up 50 per cent from year ago

Shopify reports first-quarter loss, revenue up 50 per cent from year ago
OTTAWA — Shopify Inc. reported a loss of US$24.2 million in its latest quarter as its revenue grew 50 per cent compared with a year ago. The online shopping software company, which keeps its books in U.S. dollars, says the loss amounted to 22 cents per share for the quarter ended March 31 compared with a loss of $15.9 million or... Read More

Encana reports US$245M Q1 loss on restructuring and unrealized hedging loss

Encana reports US$245M Q1 loss on restructuring and unrealized hedging loss
CALGARY — Encana Corp. reported a loss of US$245 million in its latest quarter as it was hit by restructuring costs and an unrealized hedging loss. The company, which keeps its books in U.S. dollars, says the loss amounted to 20 cents per share for the quarter ended March 31. That compared with a profit of $151 million or 16 cents per... Read More