Telecom carriers to get clarity on 2020 spectrum auction after markets close

Telecom carriers to get clarity on 2020 spectrum auction after markets close
MISSISSAUGA, Ont. — The rules for the federal government’s 2020 wireless spectrum auction are expected to be revealed Wednesday afternoon, setting the stage for next year’s bidding war among Canada’s telecommunications companies. The spectrum licences will be an important building block for their fifth-generation wireless networks, that are expected to revolutionize communications and stimulate the Canadian economy over the next decade. Details of the 3,500... Read More

Production resumes at world’s biggest Nutella plant

Production resumes at world’s biggest Nutella plant
PARIS — Workers at the world’s biggest Nutella factory have removed picket lines and are back at work after production was brought to a near standstill for more than a week over a dispute on salaries. Ferrero, the owner of the hugely popular hazelnut and chocolate spread, said Wednesday that access to the factory was reopened overnight and that “normal... Read More

Bombardier, Mitsubishi in talks over possible CRJ regional jet deal

Bombardier, Mitsubishi in talks over possible CRJ regional jet deal
MONTREAL — Bombardier Inc. and Mitsubishi Heavy Industries Ltd. are in talks regarding the possible sale of Bombardier’s CRJ regional jet business, a deal that would mark the plane-and-train maker’s exit from commercial aviation and shift the industry landscape. The Japanese company cautioned that no decision has been made on any possible transaction. “If ever any such decision is made, we will disclose... Read More

Crude-by-rail shipments from Western Canada rise by 34,000 bpd in May

Crude-by-rail shipments from Western Canada rise by 34,000 bpd in May
CALGARY — Genscape says crude-by-rail shipments from Western Canada continued to rise in May after falling in February to a nine-month low. The U.S. company, which monitors western Canadian rail terminals handling about 80 per cent of typical volumes, reports average rail loadings in May were 231,000 barrels per day, up 34,000 bpd from April. In February, Genscape reported 144,000 bpd... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,212.66, up 46.42 points). Bombardier Inc. (TSX:BBD.B). Industrials. Up 19 cents, or 9.69 per cent, to $2.15 on 17.9 million shares. Bellatrix Exploration Ltd. (TSX:BXE). Energy. Down one cent, or 5.88 per cent, to 16 cents on 10.8 million shares. Encana Corp. (TSX:ECA). Energy. Down 47... Read More

North American stock markets rise on U.S. rate cut hopes, gold moves higher

North American stock markets rise on U.S. rate cut hopes, gold moves higher
TORONTO — North American stock markets continued to rise on anticipation of U.S. interest rate cuts, sending gold prices to a three-and-a-half month high while oil prices plummeted. The trajectory is a continuation of Tuesday’s large increase, except for oil, that’s got stock market bulls happy, says Michael Currie, vice-president and investment adviser at TD Wealth. “It’s not unusual after a huge... Read More

Venture capitalist Roger McNamee calls for end to Sidewalk Labs development

Venture capitalist Roger McNamee calls for end to Sidewalk Labs development
TORONTO — A prominent technology investor is adding his voice to those calling on Toronto to abandon the Sidewalk Labs development on the city’s waterfront. Venture capitalist Roger McNamee, who was an early investor in Facebook and other technology giants, writes in a letter to Toronto city council ahead of a Thursday meeting that the project is a “dystopian vision that has... Read More

Rival Indigenous bidder for the Trans Mountain pipeline cautiously welcomed

Rival Indigenous bidder for the Trans Mountain pipeline cautiously welcomed
CALGARY — The British Columbia director for a First Nations consortium planning to buy a majority stake in the Trans Mountain pipeline says the emergence of a rival Alberta Indigenous bidder raises concerns about weakening his group’s all-inclusive bid. But Shane Gottfriedson of Project Reconciliation says he welcomes the interest and competition from Iron Coalition, an Alberta-based organization co-chaired by Chief Tony Alexis of... Read More

Mitsubishi in talks with Bombardier regarding possible regional jet deal

Mitsubishi in talks with Bombardier regarding possible regional jet deal
MONTREAL — Mitsubishi Heavy Industries Ltd. confirmed Wednesday it’s in talks involving Bombardier Inc.’s regional jet business but without revealing details of the discussions. The Japanese company commented came after a media report said Mitsubishi was in advanced negotiations to acquire Bombardier’s CRJ regional jet program. Mitsubishi cautioned that no decision has been made on any possible transaction. “If ever any... Read More

TREB reports Toronto home sales up 18.9 per cent in May from last year

TREB reports Toronto home sales up 18.9 per cent in May from last year
TORONTO — The Toronto Real Estate Board says the market is shifting to favour sellers as the number of home sales jumped in May and the number of listings barely budged. It says there were 9,989 sales in May, up 18.9 per cent from the 15-year low for the month hit last year, while listings grew by only 0.8 per cent to 19,386. The tightening market helped... Read More