Lumber giant Canfor announces it’s cutting back on mill operations in B.C.

Lumber giant Canfor announces it’s cutting back on mill operations in B.C.
VANCOUVER — Canfor says stagnant lumber markets are behind its decision to curtail all its sawmill operations over Christmas. The company says in a statement that it is curtailing operations from Dec. 23 to Jan. 3 for all its mills except the WynnWood sawmill in central Kootenay, which will be closed for five days. The forestry giant has 12 sawmills around the province. Canfor did not... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (17,032.86 , up 78.02 points.) Aurora Cannabis Inc. (TSX:ACB). Health care. Down 25 cents, or 6.98 per cent, to $3.33 on 13.7 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 56 cents, or 1.13 per cent, to $50.27 on 11.6 million shares. Husky Energy Inc. (TSX:HSE). Energy.... Read More

North American stock markets more to record highs on trade optimism

North American stock markets more to record highs on trade optimism
TORONTO — North American stock markets ended a week of losses by setting record highs on renewed signs of a trade deal between the world’s two largest economies. The S&P/TSX composite index closed up 78.02 points at 17,032.86 after hitting an intraday record. In New York, the Dow Jones industrial average was up 190.85 points at 28,066.47. The S&P 500 index... Read More

CN strike prompts potash mine shutdown, triggering 550 temporary layoffs

CN strike prompts potash mine shutdown, triggering 550 temporary layoffs
SASKATOON — Nutrien Ltd. says it is temporarily shutting down its largest potash mine because of the strike at Canadian National Railway Co., resulting in some 550 short-term layoffs at the fertilizer giant. Nutrien chief executive Chuck Magro says workers received notices today alerting them that the mine in southeastern Saskatchewan will halt operations for two weeks starting Dec. 2. The vast... Read More

Financial and consumer stocks lift S&P/TSX composite, U.S. stocks also up

Financial and consumer stocks lift S&P/TSX composite, U.S. stocks also up
TORONTO — Gains in financial stocks as well as the consumer discretionary and consumer staples sectors helped lift Canada’s main stock index higher in late-morning trading. The S&P/TSX composite index was up 81.02 points at 17,035.86. In New York, the Dow Jones industrial average was up 114.16 points at 27,989.78. The S&P 500 index was up 17.80 points at 3,128.09,... Read More

Organigram expects revenue to rise in Q1 2020 compared with final quarter 2019

Organigram expects revenue to rise in Q1 2020 compared with final quarter 2019
MONCTON, N.B. — Cannabis company Organigram Holdings Inc. says it expects net revenue in the first-quarter of its 2020 financial year to rise compared with the fourth quarter of its 2019 financial year due to increased sales to provinces and higher wholesale revenue. The company had warned earlier this month that revenue in its fourth-quarter would be lower than the third quarter.... Read More

Charles Schwab buys TD Ameritrade in brokerage blockbuster

Charles Schwab buys TD Ameritrade in brokerage blockbuster
NEW YORK — Charles Schwab is buying rival TD Ameritrade in an approximately $26 billion all-stock deal, a blockbuster agreement accelerated by massive disruption in the online brokerage industry. Competitive pressure has already forced brokerages to make it free for customers to trade U.S. stocks online, and Schwab’s buyout combines two of the biggest players in the industry. The tie-up... Read More

Kirkland Lake Gold to acquire Detour Gold in stock deal worth $4.9 billion

Kirkland Lake Gold to acquire Detour Gold in stock deal worth $4.9 billion
TORONTO — Kirkland Lake Gold Ltd. has signed an agreement to acquire Detour Gold Corp. in a deal that values the company at about $4.9 billion. Under the agreement, Detour Gold shareholders will receive 0.4343 of a Kirkland Lake share for each Detour Gold share they hold. The exchange ratio implies a value of $27.50 per Detour Gold share based on... Read More

Uber loses license in London over safety, vows to appeal

Uber loses license in London over safety, vows to appeal
London’s transit authority on Monday refused to renew Uber’s license to operate, with the ride-hailing company vowing to appeal the decision as it struggles to secure its future in the British capital. It’s the latest chapter in Uber’s rocky history with London transport officials, who have subjected the San Francisco-based tech company to ever tighter scrutiny over concerns about passenger... Read More