HBC hires advisers, lawyers to aid in reviewing privatization offer

HBC hires advisers, lawyers to aid in reviewing privatization offer
TORONTO — The Hudson’s Bay Company says its special committee of the board of directors formed to assess a privatization proposal has retained an independent valuator, advisers and legal counsel to help with the process. The special committee retained TD Securities Inc. to be an independent valuator and Canterview Partners LLC to be a special adviser. It has also retained... 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 (16,563.29, up 18.08 points). Encana Corp. (TSX:ECA). Energy. Up 20 cents, or 3.15 per cent, to $6.54 on 8.7 million shares. CannTrust Holdings Inc. (TSX:TRST). Health care. Down 61 cents, or 12.9 per cent, to $4.12 on 6.4 million shares. Barrick Gold Corp. (TSX:ABX). Materials. Up 54 cents,... Read More

North American stock markets rise on confirmation of upcoming U.S. rate cuts

North American stock markets rise on confirmation of upcoming U.S. rate cuts
TORONTO — North American stock markets rose, with U.S. markets hitting all-time highs, after the chairman of the U.S. Federal Reserve confirmed the central bank will cut interest rates because of a weakened economy. The S&P/TSX composite index closed up 18.08 points at 16,563.29. In New York, the Dow Jones industrial average was up 76.71 points at 26,860.20. The S&P... Read More

High dividend yields as shares slide spooking investors, say oil and gas CEOs

High dividend yields as shares slide spooking investors, say oil and gas CEOs
CALGARY — Mid-sized Alberta oil and gas producers say their share prices have fallen so low that investors are starting to worry their rising dividend yields are becoming unsustainable. CEO Grant Fagerheim of Whitecap Resources Inc. says the irony is that his Calgary-based company has no intention of reducing its monthly payouts to shareholders, which it has hiked three times in the past three... Read More

Poloz appears in no rush to move interest rate, warns of trade threats

Poloz appears in no rush to move interest rate, warns of trade threats
OTTAWA — Bank of Canada governor Stephen Poloz is holding firm on his key interest rate and showing no urgency to make a policy change, positions that come with the U.S. Federal Reserve poised to cut its rate. The Bank of Canada’s decision Wednesday kept the interest rate target at 1.75 per cent for a sixth-straight meeting as the country bounces back from a weak stretch that nearly brought the economy... Read More

Energy sector helps boost stocks in Toronto as oil prices move higher

Energy sector helps boost stocks in Toronto as oil prices move higher
TORONTO — Strength in the energy sector helped Canada’s main stock index gain ground in late-morning trading as the price of oil also moved higher. The S&P/TSX composite index was up 24.11 points at 16,569.32. In New York, the Dow Jones industrial average was up 35.92 points at 26,819.41. The S&P 500 index was up 5.68 points at 2,985.31, while... Read More

OCS pulls affected CannTrust cannabis products amid Health Canada probe

OCS pulls affected CannTrust cannabis products amid Health Canada probe
TORONTO — The Ontario Cannabis Store says it has removed certain CannTrust Holdings Inc. products from its shelves online and at physical outlets until Health Canada completes its investigation involving the licensed producer. The OCS says it has voluntarily pulled all affected products after the regulator put a hold on thousands of kilograms of CannTrust’s cannabis after Health Canada found it... Read More

Trade, climate policy on agenda for premiers’ meeting in Saskatoon

Trade, climate policy on agenda for premiers’ meeting in Saskatoon
SASKATOON — Canada’s 13 premiers are expected to discuss trade and climate policy among other pressing issues when they sit down for their annual conference in Saskatoon. The closed-door meeting is taking place today and tomorrow at a downtown hotel. Saskatchewan Premier Scott Moe is hosting the Conference of the Federation, and says one priority is breaking down trade barriers between... Read More

Hudbay Minerals CEO Alan Hair stepping down, Peter Kukielski named interim CEO

Hudbay Minerals CEO Alan Hair stepping down, Peter Kukielski named interim CEO
TORONTO — Hudbay Minerals Inc. says Alan Hair has stepped down as president and chief executive and a director of the company. Hair spent more than 20 years with Hudbay including as chief operating officer from 2012 to 2015 before being appointed president and chief executive in 2016. The Hudbay board has started a search for a permanent chief executive. Meanwhile,... Read More