Coinsquare executives step down after accusations of market manipulation

Coinsquare executives step down after accusations of market manipulation
TORONTO — Coinsquare Ltd. CEO Cole Diamond will step down after securities regulators accused the cryptocurrency company of misleading investors and manipulating the market. Founder and president Virgile Rostand will also step aside from the Toronto-based company, which creates tools for people who access digital currency markets, as part of the settlement agreement approved on Tuesday by the Ontario Securities... Read More

Toronto market gives up early gains as oil price rise boosts energy stock prices

Toronto market gives up early gains as oil price rise boosts energy stock prices
TORONTO — Canada’s main stock index gave up early triple-digit gains on Tuesday as energy remained the sector with strong gains by the end of the trading day. The S&P/TSX composite index closed down 20.70 points at 16,162.96, despite an 8.92 per cent rise in energy. Benchmark U.S. West Texas Intermediate oil rose by US$1.00 per barrel to US$41.92 as investors welcomed news that European leaders... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,162.96 , down 20.70 points.) Royal Bank of Canada (TSX:RY). Financials. Up 76 cents, or 0.80 per cent, to $95.70 on 10.32 million shares. Cenovus Energy Inc. (TSX:CVE). Energy. Up 68 cents, or 11.45 per cent, to $6.62 on 8.66 million shares. Crescent Point Energy Corp. (TSX:CPG).... Read More

CN Rail Q2 earnings drop by 60% as pandemic hits crude oil, auto shipments

CN Rail Q2 earnings drop by 60% as pandemic hits crude oil, auto shipments
MONTREAL, Ont. — Canadian National Railway Co. says profits fell by 60 per cent last quarter as shipments declined nearly across the board due to fallout from the COVID-19 pandemic. The country’s largest railroad operator says net income dropped to $545 million in the quarter ended June 30 compared with $1.36 billion a year earlier. Revenue decreased by $750 million or 19... Read More

Retail sales on pace to recover after 18.7 per cent surge in May, says StatCan

Retail sales on pace to recover after 18.7 per cent surge in May, says StatCan
Retail sales are on pace to recover from the COVID-19 shutdowns after surging nearly 19 per cent in May with even larger gains expected in June, says Statistics Canada. The agency says retail sales increased to $41.8 billion in May after steep declines in the previous two months, still leaving them 20 per cent below levels in February, before physical distancing measures... Read More

Niagara region housing prices climb as buyers leave Toronto in search of space

Niagara region housing prices climb as buyers leave Toronto in search of space
Prices of newly built homes climbed higher in June as Toronto-area home-buyers fled the city in favour of wine country. Retirees, as well as remote workers, have boosted demand for new houses, driving prices up one per cent, the Niagara Home Builders’ Association said in Statistics Canada’s monthly survey of home builders. Toronto’s new home prices were steady in June... Read More

PrairieSky Royalty reports lower second-quarter crude oil production

PrairieSky Royalty reports lower second-quarter crude oil production
CALGARY — Oil production is beginning to recover after it was curtailed by an average of 30 per cent in the second quarter due to low crude prices, PrairieSky Royalty Ltd. said Tuesday. The Calgary-based company, which earns revenue by sharing in production from lands for which it holds the petroleum mineral rights, said it produced 18,670 barrels of oil equivalent per day... Read More

Iamgold to proceed with $1.3 billion Cote Gold mine in northern Ontario

Iamgold to proceed with $1.3 billion Cote Gold mine in northern Ontario
TORONTO — Iamgold Corp. says it is going ahead with its US$1.3-billion Cote Gold mine in northern Ontario as world gold prices reached nine-year highs over US$1,830 per ounce. Construction of the project, which is 30 per cent owned by Sumitomo Metal Mining Co., will start this summer with preparatory work including fish salvage, camp preparation and road access development. The project is expected to generate more... Read More

With stadiums, theatres closed, Coke 2Q revenue plunges 28%

With stadiums, theatres closed, Coke 2Q revenue plunges 28%
Coca-Cola’s revenue plunged 28% in the second quarter, but the company thinks the worst could be behind it. Coke Chairman and CEO James Quincey said sales improved sequentially in May, June and July despite surging cases in key markets like the U.S., Iran and Australia. While the path forward is unclear and the global economic recovery will take years, Quincey... Read More

Wattpad storytelling platform says hackers had access to user email addresses

Wattpad storytelling platform says hackers had access to user email addresses
TORONTO — Wattpad Corp. has provided more details about a breach of user data provided to its online storytelling platform. The Toronto-based company has sent out a note to users that says hackers may have had access to email addresses, birth dates, the gender of members and encrypted passwords. It says user stories, private messages, and phone numbers were not part... Read More