Zoom rides pandemic to another quarter of explosive growth

Zoom rides pandemic to another quarter of explosive growth
SAN RAMON, Calif. — Zoom’s videoconferencing service is deepening its integral role in life during the pandemic as tens of thousands more businesses and other users pay for subscriptions to get more control over their virtual meetings. The surge in paying customers enabled Zoom to hail another quarter of explosive growth. The company on Monday reported that its revenue for... Read More

Auryn Resources raising $22.5 million in bought deal financing

Auryn Resources raising $22.5 million in bought deal financing
Auryn Resources Inc. said Monday August 31 that it has arranged for a bought deal private placement that is expected to raise $22.5 million from the sale of 7.5 million subscription receipts of the company. The subscription receipts will be exchanged for common shares of Auryn concurrently with the completion of Auryn’s recently announced plan to acquire... 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 (16,514.44, down 191.35 points). Suncor Energy Inc. (TSX:SU). Energy. down 83 cents, or 3.81 per cent, to $20.93 on 9.9 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Down 67 cents, or 3.37 per cent, to $19.24 on 8.3 million shares. Kinross Gold Corp. (TSX:K). Materials.... Read More

North American stock markets rise for fifth straight month in August

North American stock markets rise for fifth straight month in August
TORONTO — North American stock markets rose for a fifth straight month in August while the Canadian dollar reached its highest level since early January. The S&P/TSX composite index closed down 191.35 points at 16,514.44. In New York, the Dow Jones industrial average was down 223.82 points at 28,430.05. The S&P 500 index was down 7.7 points at 3,500.31, while... Read More

Amazon wins FAA approval to deliver packages by drone

Amazon wins FAA approval to deliver packages by drone
NEW YORK — Getting an Amazon packaged delivered from the sky is closer to becoming a reality. The Federal Aviation Administration said Monday it had granted Amazon approval to deliver packages by drones. Amazon said that the approval is an “important step,” but added that it is still testing and flying the drones. It did not say when it expected... Read More

Starbucks Canada to require customers wear masks in stores on Sept. 14

Starbucks Canada to require customers wear masks in stores on Sept. 14
TORONTO — Starbucks Canada says it will start requiring customers to wear facial coverings while in its cafes in mid-September. The company says the rule will come into effect at all of its company-owned cafes in Canada on Sept. 14. Starbucks says the policy is aimed at stopping the spread of COVID-19. Customers who arrive at a Starbucks without a mask will have... Read More

Berkshire Hathaway takes stakes in Japanese trading houses

Berkshire Hathaway takes stakes in Japanese trading houses
TOKYO — Billionaire investor Warren Buffett’s Berkshire Hathaway said Monday it has taken stakes of just over 5% in five major Japanese trading houses in what it says is a long-term investment. Share prices of the five huge companies surged between 4% to 9.5% on Monday in Tokyo after the company announced the investment. Berkshire Hathaway said that its subsidiary... Read More

New Uber contract could have chilling effect on class action, says lawyer

New Uber contract could have chilling effect on class action, says lawyer
TORONTO — Employment lawyer Lior Samfiru says Uber Technologies Inc. is trying to keep its Canadian drivers from joining or starting class-action lawsuits against the company. Samfiru says drivers using the platform were asked to sign new contracts last week that ask them to agree not to pursue class or collective action. Uber, instead, wants drivers to agree to settle their issues with the... Read More

Banking regulator phasing out pandemic-related rules on mortgage deferrals

Banking regulator phasing out pandemic-related rules on mortgage deferrals
OTTAWA — Canada’s federal banking regulator is phasing out requirements around mortgage deferrals for homeowners hard-hit financially by the COVID-19 pandemic. The Office of the Superintendent of Financial Institutions says deferrals granted starting Monday and until the end of September will be able to get special capital treatments for loan and premium payments for up to three months, rather than six.... Read More

Obsidian Energy proposes merger with Bonterra Energy in share-swap deal

Obsidian Energy proposes merger with Bonterra Energy in share-swap deal
CALGARY — Obsidian Energy Ltd. is proposing a merger with Bonterra Energy Corp. The proposed deal would see Bonterra shareholders own about 48 per cent of the combined company. In a letter to Bonterra chair and chief executive George Fink, Obsidian offered to swap two of its shares for each Bonterra share. However, Bonterra shares currently trade for more than double... Read More