S&P/TSX composite drops despite surge in crude oil prices above US$40 per barrel

S&P/TSX composite drops despite surge in crude oil prices above US$40 per barrel
TORONTO — Canada’s main stock index dipped midweek despite a surge in crude oil prices back above US$40 per barrel. The S&P/TSX composite index closed down 135.61 points at 16,295.66. The energy sector was the star on the day, gaining 3.2 per cent with producers Vermilion Energy Inc. up 11.1 per cent and Crescent Point Energy Corp. up 7.2 per... Read More

Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,295.66, down 135.61 points.) Baytex Energy Corp. (TSX:BTE). Energy. Down one cents, or 1.67 per cent, to 59 cents on 19.7 million shares. Bombardier Inc. (TSX;BBD.B). Industrials. Up three cents, or 6.1 per cent, to 44 cents on 14.5 million shares. SSR... Read More

Cogeco directors spurn Rogers, Altice again in an exchange of accusatory letters

Cogeco directors spurn Rogers, Altice again in an exchange of accusatory letters
MONTREAL — Cogeco Communications Inc. and its parent company are accusing Rogers Communications Inc. and its American partner of using “bad faith tactics” in their attempt to buy the company without support from its controlling shareholder. In a letter released two weeks after Rogers and Altice USA Inc. announced a $10.4 billion offer, Cogeco’s lead director says they failed to... Read More

Bombardier cements Alstom deal, but will pocket less than expected in rail unit sale

Bombardier cements Alstom deal, but will pocket less than expected in rail unit sale
MONTREAL — Bombardier Inc. has cemented the terms of its rail division sale to Alstom SA in a multibillion-dollar deal that will bolster the plane-and-train maker’s books but leave it with less than originally expected. The Montreal-based company said Wednesday it has signed a definitive agreement with the French train giant following a memorandum of understanding earlier this year. Bombardier... Read More

US charges 5 Chinese citizens in global hacking campaign

US charges 5 Chinese citizens in global hacking campaign
WASHINGTON — The Justice Department has charged five Chinese citizens with hacks targeting more than 100 companies and institutions in the United States and elsewhere, including social media and video game companies as well as universities and telecommunications providers, officials said Wednesday. The five defendants remain fugitives, but prosecutors say two Malaysian businessmen charged with conspiring with the alleged hackers... Read More

Surging demand for wheat, canola boost struggling Ontario shippers

Surging demand for wheat, canola boost struggling Ontario shippers
OTTAWA — The Chamber of Marine Commerce says that demand for wheat, canola and soybeans is pushing grain shipments up by 20 per cent in some of Ontario ports. The shipping association says that between April 1 and Aug. 31,  5.2 million tonnes of grain passed through a key trade corridor, the Great Lakes-St. Lawrence Seaway. Thunder Bay Port Authority... Read More

US outlines sweeping plan to provide free COVID-19 vaccines

US outlines sweeping plan to provide free COVID-19 vaccines
  WASHINGTON — The government outlined a sweeping plan Wednesday to make vaccines for COVID-19 available for free to all Americans, assuming a safe and effective shot is developed, even as top health officials faced questions about political interference with virus information reaching the public. In a report to Congress and an accompanying “playbook” for states and localities, federal health... Read More

Trudeau releases details on $19B in anti-COVID-19 spending as cabinet retreat wraps

Trudeau releases details on $19B in anti-COVID-19 spending as cabinet retreat wraps
  OTTAWA — Prime Minister Justin Trudeau released details Wednesday of how provinces and territories will spend the $19 billion the federal government is giving them to safely restart the economy. The details are in letters each premier has sent outlining how they intend to spend the money. Among other things, the funding will help increase testing and contact tracing,... Read More

Manulife unveils COVID-19-related travel insurance in face of travel advisories

Manulife unveils COVID-19-related travel insurance in face of travel advisories
TORONTO — Manulife Financial Corp. is offering COVID-19-related travel insurance for Canadians who take international and domestic trips. The policy, slated to roll out in October, will provide emergency medical coverage that includes the coronavirus and related conditions. It will also provide some coverage linked to trip interruptions or cancellations in the event of quarantine, Manulife said in a release... Read More

Bid accepted to exit creditor protection and restart Ekati Diamond Mine

Bid accepted to exit creditor protection and restart Ekati Diamond Mine
CALGARY — The owner of the Ekati Diamond Mine in the Northwest Territories says it plans to return the suspended project to full operating status after accepting a “stalking horse bid” by an affiliated buyer to allow it to exit court protection from creditors. Dominion Diamond Mines ULC says the bid submitted by Canadian Diamond Holdings, LP and CA Canadian... Read More