Energy is Canada’s ‘family business,’ benefiting all Canadians: CIBC CEO

Energy is Canada’s ‘family business,’ benefiting all Canadians: CIBC CEO
CALGARY — The chief executive of CIBC says the energy sector is Canada’s “family business” and the Trans Mountain pipeline project must be done without further debate in parliament or cabinet and put into “private hands.” Victor Dodig says that he understands the “contentious nature” of the TMX expansion project, but it is “unambiguously in the national interest.” Dodig adds... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (16,594.07, up 110.91 points). Pengrowth Energy Corp. (TSX:PGF). Energy. Down 15 cents, or 75 per cent, to five cents on 19.8 million shares. Encana Corp. (TSX:ECA). Energy. Up 28 cents, or 5.43 per cent, to $5.44 on 14.1 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up... Read More

Canada’s main stock index edges up in broad-base advance; loonie stable

Canada’s main stock index edges up in broad-base advance; loonie stable
TORONTO — Canada’s main stock index was up slightly in late morning trading in a broad-based advance led by resource and financial stocks. The S&P/TSX composite index was up 69.83 points at 16,552.99. In New York, the Dow Jones industrial average was up 248.75 points at 27,294.98. The S&P 500 index was up 23.72 points at 3,061.28, while the Nasdaq composite was ahead 68.90... Read More

BMO to appoint retiring BCE CEO George Cope as chair of the board

BMO to appoint retiring BCE CEO George Cope as chair of the board
TORONTO — BMO Financial Group says it plans to appoint BCE Inc. chief executive George Cope as chair of the BMO board next year, after his retirement from the telecommunications company in January. The Toronto-based banking group says it intends to appoint the long-time telecom industry executive upon his re-election as an independent director at BMO’s annual meeting in March 2020. BMO... Read More

Imperial Oil reports 43% drop in Q3 income driven by tight refinery margins

Imperial Oil reports 43% drop in Q3 income driven by tight refinery margins
CALGARY — Imperial Oil Ltd. is reporting third-quarter net income fell 43 per cent to $424 million or 56 cents per share, compared with $749 million or 94 cents per share in the same period of 2018. The Calgary-based producer and refiner says cash generated from operating activities added up to $1.38 billion in the three months ended Sept. 30, up from $1.21... Read More

Desjardins revises data theft impact numbers, says 4.2 million affected

Desjardins revises data theft impact numbers, says 4.2 million affected
MONTREAL — The Desjardins Group data theft is much larger than first thought, affecting 4.2 million members — up from the 2.9 million first reported in June. The new number represents the entirety of the Quebec-based banking co-operative’s membership. President and CEO Guy Cormier told a news conference today those figures come after new information was provided by Quebec police on Thursday.... Read More

Google buys Fitbit for $2.1B, stepping back into wearables

Google buys Fitbit for $2.1B, stepping back into wearables
Google is buying Fitbit for about $2.1 billion, enabling the internet company to step back into the hotly contested market for smartwatches and health trackers. Fitbit is a pioneer in wearable fitness technology, but it’s been shredded by that competition. Google, meanwhile, has been developing Wear OS software for other manufacturers to build wearable devices, but they haven’t gained much... Read More