Bank of Canada governor says climate change poses risks to financial systems

Bank of Canada governor says climate change poses risks to financial systems
TORONTO — Bank of Canada governor Stephen Poloz wasn’t asked about climate change risks at a discussion about economic change and emerging risks on Thursday, so he brought them up himself. “It’s about the transition risk, right, as everyone’s portfolio and all their lending practices kind of converge on a different climate trend line, that that could have significant consequences for... Read More

CP Rail to acquire railway that owns tracks involved in Lac-Megantic disaster

CP Rail to acquire railway that owns tracks involved in Lac-Megantic disaster
Canadian Pacific Railway Ltd. has entered into a US$130-million deal to acquire the Central Maine and Quebec Railway, which operates the tracks at the centre of the Lac-Megantic disaster in 2013. CP Rail and Fortress Transportation and Infrastructure Investors LLC, a New York investment firm, announced a definitive agreement for 774 kilometres of track that provides access to ports in... Read More

Loblaw launching online marketplace that will include new brands and products

Loblaw launching online marketplace that will include new brands and products
TORONTO — Loblaw Companies Ltd. is introducing an online marketplace that will include brands and products that it has not traditionally sold. The online marketplace will include new vendors available through Loblaw’s PC Express service. The retailer says the third-party companies will be introduced in five expanded categories at the launch. Loblaw says the offerings will go beyond its current in-store selections... Read More

North American stock markets down in late-morning trading, loonie up

North American stock markets down in late-morning trading, loonie up
TORONTO — Canada’s main stock index fell in late-morning trading as the heavyweight financial, industrials and materials sectors lost ground, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 30.86 points at 16,974.96. In New York, the Dow Jones industrial average was down 69.51 points at 27,751.58. The S&P 500 index was down 7.02 points at 3,101.44,... Read More

Waterloo Brewing loses $2.1 million in social engineering cyberattack

Waterloo Brewing loses $2.1 million in social engineering cyberattack
KITCHENER, Ont. — Waterloo Brewing Ltd. says it has lost $2.1 million in what it calls a social engineering cyberattack. The Ontario brewery says the incident occurred in early November and involved the impersonation of a creditor employee and fraudulent wire transfer requests. Waterloo Brewing says it initiated an analysis of all other transaction activity across all of its bank accounts,... Read More