Torstar buyer says Canso picked to provide financing because of media experience

Torstar buyer says Canso picked to provide financing because of media experience
TORONTO — A private investment company that is a major backer of Postmedia Network Corp. has agreed to provide financing for NordStar Capital’s acquisition of Torstar Corp., the owner of the Toronto Star and other newspapers. NordStar says it considered several sources of outside funding and chose Canso Investment Counsel Ltd. because of its experience in the Canadian media industry.... Read More

Crude has best month on record in May as prices surge 88 per cent

Crude has best month on record in May as prices surge 88 per cent
TORONTO — Canada’s main stock index ended a strong May a little weaker while crude oil prices enjoyed their best ever month, surging 88 per cent. The S&P/TSX composite index closed down 69.90 points at 15,192.83. In New York, the Dow Jones industrial average was down 17.53 points at 25,383.11. The S&P 500 index was up 14.58 points at 3,044.31, while... Read More

Large cruise ships barred from Canadian waters until end of October: Garneau

Large cruise ships barred from Canadian waters until end of October: Garneau
OTTAWA — The cruise-ship season in Canada is all but sunk as Ottawa extends its ban on large ships in Canadian waters until the end of October in an attempt to contain COVID-19. Transport Minister Marc Garneau said Thursday passenger ships with overnight accommodations for more than 100 people — including both passengers and crew — can’t operate in Canadian waters until... Read More

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations
VAUGHAN, Ont. — CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations. The cannabis company says it cannot say when its products will be available in the market as that depends on a Health Canada decision regarding its manufacturing facility in Vaughan, Ont. The decision regarding the... Read More

Financial sector weighs on Toronto, U.S. stock markets mixed in early trading

Financial sector weighs on Toronto, U.S. stock markets mixed in early trading
TORONTO — Canada’s main stock index fell in early trading as losses in the heavyweight financial sector offset gains by materials stocks. The S&P/TSX composite index was down 63.98 points at 15,198.75. In New York, the Dow Jones industrial average was down 73.41 points at 25,327.23. The S&P 500 index was down 4.66 points at 3,025.07, while the Nasdaq composite... Read More

Laurentian Bank Financial Group reports Q2 profit down, cuts quarterly dividend

Laurentian Bank Financial Group reports Q2 profit down, cuts quarterly dividend
MONTREAL — Laurentian Bank Financial Group reported its second-quarter profit fell nearly 80 per cent from a year ago and it cut its dividend in a move to give it more flexibility during the COVID-19 pandemic. The bank says it will now pay a quarterly dividend of 40 cents per share, down from 67 cents per share. Laurentian chief executive Francois Desjardins says... Read More

Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus

Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus
Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter. The Smith Falls, Ont.-based cannabis company says as part of an ongoing restructuring it has decided not to strive to be the first to every market and will instead focus on select areas like Canada, the U.S. and Germany, where it believes it can be... Read More