CPP Investment Board posts 8.9% return for 2018-19, adds $35.9B to assets

CPP Investment Board posts 8.9% return for 2018-19, adds $35.9B to assets
TORONTO — Canada Pension Plan Investment Board recovered from a weak quarter in late 2018 to produce a solid 8.9 per cent net return for its most recent financial year. The Toronto-based investment manager for the Canada Pension Plan announced Wednesday that its CPP Fund had $392.0 billion of net assets as of March 31, up $35.9 billion from the end of... Read More

Aurora Cannabis growing storage to prepare for derivatives launch next fall

Aurora Cannabis growing storage to prepare for derivatives launch next fall
Aurora Cannabis Inc. is building up inventory in anticipation of the legalization of edibles and vaping products next fall, but insists that won’t interrupt its sales growth and march to profitability. Production is expected to grow to 25,000 kilograms in the current quarter ended June 30, but an unspecified portion will be held out of the market, said chief financial officer Glen Ibbott... Read More

Restaurant Brands plans to grow to more than 40K restaurants in the coming years

Restaurant Brands plans to grow to more than 40K restaurants in the coming years
The parent company of Tim Hortons plans to grow its three fast-food chains to more than 40,000 locations around the world over the next eight to 10 years. “Forty thousand restaurants worldwide will put us amongst the largest restaurant companies in the world,” said CEO Jose Cil at the company’s first investor day in New York on Wednesday. Restaurant Brands... Read More

American Express buys restaurant reservation service Resy

American Express buys restaurant reservation service Resy
NEW YORK — American Express is buying the online reservation startup Resy, the companies announced Wednesday, the latest move by AmEx to establish and maintain a foothold for its card members in some of the world’s most desired restaurants. AmEx and Resy, founded in 2014, declined to disclose the terms of the deal. However, in early 2017 Resy announced it... Read More

Canadian inflation rises in April; gas prices strengthen from carbon pricing

Canadian inflation rises in April; gas prices strengthen from carbon pricing
OTTAWA — Canada’s annual inflation rate picked up its pace in April for a third-straight month due in part to stronger gasoline prices in provinces with new carbon-pricing systems. The consumer price index posted a year-over-year increase of two per cent last month, up from its reading of 1.9 per cent in March and 1.5 per cent in February, Statistics Canada said Wednesday in a new report. The... Read More

Updated fisheries law could stem loss of stocks, biodiversity: supporters

Updated fisheries law could stem loss of stocks, biodiversity: supporters
Significant changes could be coming to the way fisheries are managed in Canada, giving hope for the rebound of some species and the protection of others, says an ocean conservation group. Josh Laughren, executive director of Oceana Canada, said proposed amendments to the Fisheries Act would prompt the government to rebuild stocks that fall below sustainable levels. And while the changes still... Read More

Aurora Cannabis cuts quarterly loss to $158M while growing sales to a new high

Aurora Cannabis cuts quarterly loss to $158M while growing sales to a new high
EDMONTON — Aurora Cannabis Inc. is reporting 20 per cent higher revenue and a 33 per cent lower net loss for the first three months of 2019 compared with the last quarter of 2018. The Edmonton-based company credited higher production and sales for a $158-million loss on net revenue of $65 million, compared with a loss of $238 million on revenue of $54 million in... Read More

Shaw Communications selling its stake in Corus Entertainment for $548M

Shaw Communications selling its stake in Corus Entertainment for $548M
CALGARY — Shaw Communications Inc. is selling its stake in Corus Entertainment Inc. for $548 million. Under the deal, the cable and telecommunications company will sell 80.63 million class B Corus shares at a price of $6.80 per share through a secondary offering. Corus shares closed at $8.06 on the Toronto Stock Exchange on Tuesday. The sale represents a roughly 38... Read More

Canadian home sales climb higher in April, boosted by Toronto and Montreal

Canadian home sales climb higher in April, boosted by Toronto and Montreal
OTTAWA — The Canadian Real Estate Association says home sales in April posted their first year-over-year increase since December 2017. The association says home sales last month were up 4.2 per cent compared with a year ago, when they hit a seven-year low for the month. The improvement came as gains in Montreal and the Toronto region outweighed a decline... Read More