Crescent Point Energy selling Saskatchewan midstream gas assets for $500 million

Crescent Point Energy selling Saskatchewan midstream gas assets for $500 million
CALGARY — Oil and gas producer Crescent Point Energy Corp. says it is selling Saskatchewan midstream assets for $500 million as part of a divestiture strategy adopted following a management shakeup last year. The Calgary company says it has struck a deal to sell nine natural gas processing facilities and two gas sales pipelines with total throughput capacity of more... Read More

Amazon to protest $10B Pentagon contract won by Microsoft

Amazon to protest $10B Pentagon contract won by Microsoft
SAN FRANCISCO — Amazon is protesting the Pentagon’s decision to award a $10 billion cloud-computing contract to Microsoft, citing “unmistakable bias” in the process. Amazon’s competitive bid for the “war cloud” project drew criticism from President Donald Trump and its business rivals. The project, formally called the Joint Enterprise Defence Infrastructure, or JEDI, pitted leading tech titans Microsoft, Amazon, Oracle... Read More

Stock markets flat as the longest and strongest bull market continues

Stock markets flat as the longest and strongest bull market continues
TORONTO — North American stock markets were flat on new fears of a global economic slowdown even as the bull market becomes longest and strongest in history. The S&P/TSX composite index was up 14.19 points at 16,972.18 to hit a record close for a third consecutive day. In New York, the Dow Jones industrial average was down 1.63 points at 27,781.96. The... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (16,972.18, up 14.19 points.) Aurora Cannabis Inc. (TSX:ACB). Health care. Down 31 cents, or 6.61 per cent, to $4.38 on 8.2 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $26.26 on 7 million shares. Canopy Growth Corp. (TSX:WEED). Health care. Down $3.49 or 14.27 per cent,... Read More

Lion King and Spider-Man help boost quarterly results at Cineplex

Lion King and Spider-Man help boost quarterly results at Cineplex
Cineplex Inc. shares rose about five per cent after the company reported record high revenue for its third quarter and outperformed analyst expectations, helped by a strong film slate including “The Lion King” and “Spider-Man: Far From Home.” Shares in the movie theatre chain rose $1.14 or 4.94 per cent to $24.24 in early afternoon trading on the Toronto Stock Exchange.... Read More

UBC conference faces criticism over speaker from tech company blacklisted in U.S.

UBC conference faces criticism over speaker from tech company blacklisted in U.S.
VANCOUVER — A conference hosted by University of British Columbia students is facing criticism for having a speaker from a Chinese company that has been blacklisted by the United States over links to the repression of China’s Muslim minority. The UBC China Forum, a business conference organized by members of the university’s BizChina Club, lists SenseTime executive director Jimmy Zhou as one of its confirmed speakers. The artificial... Read More

N.B. moves toward privatization of cannabis sales following losses in first year

N.B. moves toward privatization of cannabis sales following losses in first year
FREDERICTON — New Brunswick has issued a request for proposals for a single private operator to take over the government’s operation, distribution and sales of recreational cannabis in the province. Finance Minister Ernie Steeves says today that after a careful analysis, the government concluded the best approach was to turn to the private sector. Interested proponents will have until Jan.... Read More

IIROC requires mandatory reporting of cybersecurity incidents at firms

IIROC requires mandatory reporting of cybersecurity incidents at firms
TORONTO — The Investment Industry Regulatory Organization of Canada is now requiring the mandatory reporting of any cybersecurity incidents at occur at the investment firms it regulates. Under the new rules, firms have to report to the industry regulator any cybersecurity incidents in two stages. In the first stage, firms have three days to provide a preliminary description of the incident... Read More

Canopy Growth reports $374.6M Q2 loss, restructures softgel and oil portfolio

Canopy Growth reports $374.6M Q2 loss, restructures softgel and oil portfolio
SMITH FALLS, Ont. — Canopy Growth Corp.’s share price hit a 2019 low Thursday after the Canadian cannabis producer posted a $374.6-million quarterly loss, missed analyst revenue estimates and warned that a key revenue target may not be achieved. Canopy stock hit an intra-day low of $20.15 at the Toronto Stock Exchange during the morning, and continued to trade down about 16... Read More

Materials and industrials help S&P/TSX composite edge higher, U.S. stocks mixed

Materials and industrials help S&P/TSX composite edge higher, U.S. stocks mixed
TORONTO — Canada’s main stock index edged higher in late-morning trading as gains in the key industrials and materials sectors helped offset losses in the health-care sector which includes the big names in the cannabis business. The S&P/TSX composite index was up 3.11 points at 16,961.10. In New York, the Dow Jones industrial average was down 5.73 points at 27,777.86.... Read More