Alberta to reduce spending by 3 per cent, but no cuts to health, education

Alberta to reduce spending by 3 per cent, but no cuts to health, education
EDMONTON — Alberta Premier Jason Kenney says his government will cut program spending by close to three per cent in Thursday’s provincial budget. But Kenney, in a TV address Wednesday night, reiterated that health and education funding will not be reduced and maintaining front-line services is a priority. “Let’s be clear: this will not be an easy budget,” said Kenney, adding... Read More

Canfor Corp. swings to $90.4-million loss in Q3 as revenues plunge 17.5 per cent

Canfor Corp. swings to $90.4-million loss in Q3 as revenues plunge 17.5 per cent
VANCOUVER — Canfor Corp. swung to a loss in the third quarter on weaker lumber market conditions especially in British Columbia and lower earnings in the pulp and paper segments. The Vancouver-based company lost $90.4 million for the period ended Sept. 30, compared with a $125.3-million profit in the prior year. Excluding one-time items, the adjusted loss was $44.4 million or... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,335.93, down 55.59 points.) Encana Corp. (TSX:ECA). Energy. Unchanged at $5.33 on 9.4 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Up 13 cents, or 2.77 per cent, to $4.82 on 6.2 million shares. Baytex Energy Corp. (TSX:BTE). Energy. Up six cents, or 3.87 per cent,... Read More

Google claims breakthrough in blazingly fast computing

Google claims breakthrough in blazingly fast computing
SAN FRANCISCO — Google announced Wednesday it has achieved a breakthrough in quantum computing, saying it has developed an experimental processor that took just minutes to complete a calculation that would take the world’s best supercomputer thousands of years. The feat could open the door someday to machines so blazingly fast that they could revolutionize such tasks as finding new... Read More

Toronto stock market weighed down by falling telecommunications sector

Toronto stock market weighed down by falling telecommunications sector
TORONTO — Canada’s main stock index fell midweek as the telecommunications sector retreated after Rogers Communications cut its revenue and capital spending forecasts for the year. The S&P/TSX composite index closed down 55.59 points at 16,335.93. In New York, the Dow Jones industrial average was up 45.85 points at 26,833.95. The S&P 500 index was up 8.53 points at 3,004.52, while... Read More

Cannabis company Hexo Corp. postpones Q4 earnings amid $70M financing

Cannabis company Hexo Corp. postpones Q4 earnings amid $70M financing
GATINEAU, Que. — Cannabis company Hexo Corp. says it is postponing its fourth-quarter earnings release as it announces a $70 million private placement of convertible debentures led by a group of investors, including its chief executive. The Gatineau, Que.-based company says that in light of this financing and additional time needed to finalize its year-end filings, Hexo will push back its... Read More

Telecoms weigh on Toronto stock market, U.S. stock markets trade higher

Telecoms weigh on Toronto stock market, U.S. stock markets trade higher
TORONTO — Canada’s main stock index fell in late-morning trading as shares of the country’s big wireless companies came under pressure after Rogers Communications Inc. cut its revenue guidance for the year due to the popularity of new unlimited wireless data plans. The S&P/TSX composite index was down 28.82 points at 16,362.70. In New York, the Dow Jones industrial average... Read More

Rogers Communications reports $593M third-quarter profit, cuts revenue guidance

Rogers Communications reports $593M third-quarter profit, cuts revenue guidance
TORONTO — Rogers Communications Inc. cut its financial guidance as it reported a profit of $593 million in its latest quarter, compared with $594 million in the same quarter last year. The cable and wireless company says it earned $1.14 per diluted share for the quarter ended Sept. 30, down from $1.15 per diluted share a year ago. Revenue totalled... Read More