Markets end strong week slightly lower despite higher crude oil, gold prices

Markets end strong week slightly lower despite higher crude oil, gold prices
TORONTO — North American stock indexes capped off a strong week with the Dow Jones industrial average and S&P 500 hitting record highs on Friday as investors responded to potential rate cuts from the U.S. Federal Reserve. In Toronto, Canada’s main stock index was up 1.4 per cent for the week despite closing slightly lower Friday even as gold and crude oil prices rose further on geopolitical... Read More

California launches anti-illegal pot campaign

California launches anti-illegal pot campaign
LOS ANGELES — Marijuana shoppers are going to be getting a message from California regulators: Go legal. Aiming to slow illegal pot sales that are undercutting the nation’s largest licensed market, California is kicking off a public information campaign — Get #weedwise — that encourages consumers to verify that their purchases are tested and legal. Ads will be hitting social... Read More

Canopy Growth shares fall as fourth-quarter revenues rise, loss deepens

Canopy Growth shares fall as fourth-quarter revenues rise, loss deepens
Shares of Canopy Growth Corp. slipped on Friday after the cannabis company reported an uptick in fourth-quarter net revenues but a wider-than-expected fourth-quarter loss as operating expenses ballooned. During the three-month period ended March 31, Canopy reported net revenue of $94.1 million, up from $22.8 million a year earlier and more than the $92.6 million expected by analysts. But Canopy’s net loss attributable to shareholders... Read More

US home sales climbed 2.5% in May amid lower mortgage rates

US home sales climbed 2.5% in May amid lower mortgage rates
WASHINGTON — U.S. home sales jumped 2.5% in May, as lower mortgage rates appeared to help buyers overcome affordability challenges. The National Association of Realtors says that existing homes sold at a seasonally adjusted annual rate of 5.34 million last month, up from 5.21 million in April. The recent gains likely came from reduced borrowing costs that made it easier... Read More

Global airlines reroute flights after Iran downs US drone

Global airlines reroute flights after Iran downs US drone
DUBAI, United Arab Emirates — Major airlines from around the world on Friday began rerouting their flights to avoid areas around the Strait of Hormuz following Iran’s shooting down of a U.S. military surveillance drone there, as America warned commercial airliners could be mistakenly attacked. The Federal Aviation Administration warned of a “potential for miscalculation or misidentification” in the region... Read More

Manulife Financial forms Indian joint venture with Mahindra Finance

Manulife Financial forms Indian joint venture with Mahindra Finance
TORONTO — Manulife Financial Corp. has signed a deal to create a retail investment joint venture in India. The Canadian company says it has formed a joint venture with Mahindra and Mahindra Financial Services Ltd. The companies say the joint venture brings together Mahindra’s domestic market strength with Manulife’s global wealth and asset management capabilities. Mahindra Finance, which is part... Read More

Ads slamming illegal pot coming to cellphones

Ads slamming illegal pot coming to cellphones
LOS ANGELES — Marijuana shoppers are going to be getting a message from California regulators: Go legal. Aiming to slow illegal pot sales that are undercutting the nation’s largest licensed market, California is kicking off a public information campaign — Get #weedwise — that encourages consumers to verify that their purchases are tested and legal. Ads will be hitting mobile... Read More