Day: October 10, 2019

Cracks were found in a key structural part on 38 Boeing jets

CanadianInvestor
Cracks were found in a key structural part on 38 Boeing jets
Inspections of some older Boeing jets have turned up structural cracks in more than three dozen of them, raising a new safety issue for the company already dealing with two deadly crashes involving a newer version of the same plane. Boeing said Thursday that airlines worldwide have inspected 810 planes following an order from U.S. safety regulators. Of those, 38... Read More

Fed approves rules loosening Dodd-Frank bank restrictions

CanadianInvestor
Fed approves rules loosening Dodd-Frank bank restrictions
WASHINGTON — The Federal Reserve is easing restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump. The Fed on Thursday approved a set of rule changes that implement legislation passed by Congress last year to loosen restrictions, particularly for smaller community banks, imposed by the Dodd-Frank Act passed in... Read More

Tilray, AB InBev to launch CBD drinks in late 2019, THC drinks need more time

CanadianInvestor
Tilray, AB InBev to launch CBD drinks in late 2019, THC drinks need more time
TORONTO – A joint venture between B.C. cannabis company Tilray Inc. and the world’s largest brewer Anheuser-Busch InBev plans to have CBD-infused drinks on the Canadian market as early as December, but says it needs more time to research beverages containing THC. Fluent Beverage Company’s chief executive Jorn Socquet said that through the two companies’ previously-announced research partnership, it has... Read More

Saskatchewan launches call to build 300 megawatts of wind power capacity

CanadianInvestor
Saskatchewan launches call to build 300 megawatts of wind power capacity
CALGARY — Saskatchewan is launching a new request for proposals to add up to 300 megawatts of wind power generation capacity. Environment Minister Dustin Duncan, who is responsible for Crown-owned SaskPower, says the process will help the province quadruple its wind power when the successful project or projects come online in late 2023 or 2024. Speaking at the Canadian Wind Energy Association conference... Read More

Ontario fiscal update coming Nov. 6, Finance Minister Rod Phillips says

CanadianInvestor
Ontario fiscal update coming Nov. 6, Finance Minister Rod Phillips says
TORONTO — Ontario’s finance minister says he will deliver the province’s next major fiscal update in early November. Rod Phillips says the government’s fall economic statement will be released Nov. 6. He did not detail specific measures that will be included, but says the province is on track to beat its previous 2019-20 deficit projection of $10.3 billion. The economic statement... Read More

Stock markets move higher on optimism at start of U.S.-China trade talks

CanadianInvestor
Stock markets move higher on optimism at start of U.S.-China trade talks
TORONTO — North American stock markets got a lift Thursday as trade talks commenced with hopes for a truce between the U.S. and China. Investors responded positively after U.S. President Donald Trump said that he will meet at the White House Friday with China’s vice-chairman. “Big day of negotiations with China. They want to make a deal, but do I?,”... Read More

TransUnion breach shows rising threat of third-party cyberattacks

CanadianInvestor
TransUnion breach shows rising threat of third-party cyberattacks
TORONTO — A cybersecurity breach at TransUnion has underscored the rising threat of third-party attacks and the difficulty of preventing them. The credit monitoring agency confirmed this week that the personal data of 37,000 Canadians was compromised when someone illegally used a legitimate business customer’s login to access TransUnion data. Daniel Tobok, CEO of Cytelligence Inc., said he’s seen a rise in these kinds... Read More

Personal use of work smartphone may become more of a tax headache for employers

CanadianInvestor
Personal use of work smartphone may become more of a tax headache for employers
TORONTO — The use of a company-supplied smartphone, laptop or other electronic device is commonplace these days, and employers know full well that employees will use them both for work and personal purposes. However, new guidelines from Canada Revenue Agency suggest employers may have to take a fresh look at how much of the cost of these devices can be attributed to their commercial activities. “Tax authorities around the world... Read More

Stock markets trade higher as latest round of U.S.-China trade talks start

CanadianInvestor
Stock markets trade higher as latest round of U.S.-China trade talks start
TORONTO — Canada’s main stock index headed higher in late-morning trading, while U.S. stock markets also traded higher as the latest round in U.S.-China trade began. The S&P/TSX composite index was up 42.70 points at 16,422.57. In New York, the Dow Jones industrial average was up 245.17 points at 26,591.18. The S&P 500 index was up 28.23 points at 2,947.63,... Read More

Constellation Brands chief financial officer named chair at Canopy Growth

CanadianInvestor
Constellation Brands chief financial officer named chair at Canopy Growth
SMITH FALLS, Ont. — Cannabis company Canopy Growth Corp. says Constellation Brands executive David Klein has been appointed as chair of its board of directors effective immediately. Klein, the chief financial officer at Constellation Brands Inc., has served as a director on Canopy’s board since 2018. Constellation is Canopy’s largest shareholder. He replaces John Bell who had been interim chair.... Read More