BlackBerry writes down value of its Spark unit, posts US$636 million Q1 loss

BlackBerry writes down value of its Spark unit, posts US$636 million Q1 loss
WATERLOO, Ont. — BlackBerry Ltd. posted a US$636 million net loss in the first quarter ended May 31, as it recorded a non-cash accounting writedown related to its BlackBerry Spark unit. The company, which reports in U.S. currency, said the loss amounted to $1.14 per share. That included a $594-million goodwill impairment primarily related to its BlackBerry Spark reporting unit,... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,294.38, down 270.37 points.) Bonavista Energy Corp. (TSX:BNP). Energy. Down 1.5 cents, or 21.43 per cent, to 5.5 cents on 19.1 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Down 1.5 cents, or 3.26 per cent, to 44.5 cents on 9.4 million shares. Baytex Energy Corp. (TSX:BTE). Energy.... Read More

Bayer to pay up to $10.9 billion to settle Monsanto case

Bayer to pay up to $10.9 billion to settle Monsanto case
BERLIN — German pharmaceutical company Bayer says it’s paying up to $10.9 billion to settle a lawsuit over subsidiary Monsanto’s weedkiller Roundup, which has faced numerous lawsuits over claims it causes cancer. In a statement Wednesday, Bayer said it was also paying up $1.22 billion to settle two further cases, one involving PCB in water. The Leverkusen-based company said the... Read More

Google says it will limit how long it keeps usage data to 18 months by default

Google says it will limit how long it keeps usage data to 18 months by default
TORONTO — Google is adopting new privacy features and data retention practices across its core products, which include its search engine, Google Maps and YouTube. It says data about user activity on Google platforms will now be deleted after 18 months by default, although users have the ability to have it deleted after three months. Previously, Google retained data about use... Read More

Barrick Niugini to lay off 2,650 Papua New Guinea gold mine workers

Barrick Niugini to lay off 2,650 Papua New Guinea gold mine workers
TORONTO — Owners of the Porgera gold mine in Papua New Guinea say they will lay off 2,650 local mine workers by the end of July as the result of a continuing dispute with the federal government. Barrick Niugini Ltd., the joint venture mine owner and operator that is owned 47.5 per cent each by Canada’s Barrick Gold Corp. and partner Zijin Mining... Read More

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

North American stock markets plunge in late-morning trading, loonie down
TORONTO — Canada’s main stock index fell nearly 300 points on broad-based weakness in late-morning trading as U.S. stock markets also moved lower. The S&P/TSX composite index was down 294.45 points at 15,270.30. In New York, the Dow Jones industrial average was down 630.73 points at 25,525.37. The S&P 500 index was down 72.62 points at 3,058.67, while the Nasdaq composite... Read More

IMF downgrades outlook for global economy in face of virus

IMF downgrades outlook for global economy in face of virus
WASHINGTON — The International Monetary Fund has sharply lowered its forecast for global growth this year because it envisions far more severe economic damage from the coronavirus than it did just two months ago. The IMF predicts that the global economy will shrink 4.9% this year, significantly worse than the 3% drop it had estimated in its previous report in... Read More

GFL Environmental signs US$835-million deal to buy assets in 10 U.S. states

GFL Environmental signs US$835-million deal to buy assets in 10 U.S. states
VAUGHAN, Ont. — GFL Environmental Inc. has signed a deal to buy a portfolio of integrated solid waste collection, transfer, recycling and disposal assets in the United States for US$835 million. GFL says the deal will significantly expand its U.S. footprint. The assets are being sold as a result of the acquisition of Advanced Disposal Services Inc. by a wholly... Read More