Virtual voting tests underway as House of Commons set to return for throne speech

Virtual voting tests underway as House of Commons set to return for throne speech
OTTAWA — Tests of how MPs can vote virtually are underway ahead of the planned return of Parliament Wednesday. The Liberal minority government is set to deliver a speech from the throne to lay out an updated version of its pandemic response plan, but also how it intends to guide the country forward afterwards. Doing parliamentary business, however, needs the... 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 Monday on the Toronto Stock Exchange: Toronto Stock Exchange (15,981.77, down 217.20 points.) Canadian Natural Resources (TSX:CNQ). Down $1.07, or 4.62 per cent, to $22.09 on 20.2 million shares. Suncor Energy Inc. (TSX:SU). Energy. Down 75 cents, or 4.25 per cent, to $16.89 on 14.8 million shares. Zenabis Global Inc. (TSX:ZENA).... Read More

DavidsTea swings to $2.6-million profit in second quarter despite store closures

DavidsTea swings to $2.6-million profit in second quarter despite store closures
MONTREAL — DavidsTea Inc. swung to a $2.6-million profit in its latest quarter despite a 41 per cent decrease in sales during the COVID-19 store closings. The insolvent Montreal-based beverage company says it earned 10 cents per diluted share for the period ended Aug. 1, compared with a loss of 44 cents per share or $11.3 million a year earlier.... Read More

Obsidian Energy formalizes share swap bid for Calgary rival Bonterra Energy

Obsidian Energy formalizes share swap bid for Calgary rival Bonterra Energy
CALGARY — Obsidian Energy Ltd. is formalizing its hostile takeover bid for rival Bonterra Energy Corp. It says it will offer two Obsidian shares for each Bonterra share until Jan. 4. The share-swap offer is the same as the proposal in a declaration of intent made in late August, despite Bonterra shares continuing to trade for more double those of... Read More

Housing market ‘moderately’ vulnerable amid potential overvaluation of homes: CMHC

Housing market ‘moderately’ vulnerable amid potential overvaluation of homes: CMHC
OTTAWA — Canada Mortgage and Housing Corp. says there was some evidence of overvaluation in Canada’s housing market this spring amid the COVID-19 pandemic. The Crown corporation says in cities such as Victoria, Moncton and Halifax, there was a widening gap between the selling price of houses and the price economists would expect, based on population growth, disposable income, mortgage... Read More

US household wealth hits record even as economy struggles

US household wealth hits record even as economy struggles
WASHINGTON — Americans’ household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The Federal Reserve said Monday that American households’ net worth jumped nearly 7%... Read More

Israeli and Emirati film industries to co-operate after deal

Israeli and Emirati film industries to co-operate after deal
DUBAI, United Arab Emirates — Film agencies in Israel and the United Arab Emirates announced an agreement Monday to collaborate on television production, the latest development to follow a U.S.-brokered deal between the countries to normalize relations. The Abu Dhabi Film Commission, an Emirati government agency, said it reached an understanding with the Israeli Film Fund and a Jerusalem film... Read More

Founder of GM electric truck partner quits amid allegations

Founder of GM electric truck partner quits amid allegations
FRANKFURT — Shares in electric and hydrogen-powered truck startup Nikola plunged on Monday after the company’s founder resigned amid allegations of fraud – just two weeks after signing a $2 billion partnership with General Motors. The company said late Sunday that Trevor Milton resigned and the departing executive chairman said he would defend himself against accusations that the company made... Read More

CI Financial buying U.S. investment adviser Bowling Portfolio Management

CI Financial buying U.S. investment adviser Bowling Portfolio Management
TORONTO — CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC. The firm based in Cincinnati has US$450 million in assets under management. Financial terms of the transaction were not disclosed. Bowling provides financial planning and investment management services to high-net-worth clients. CI has been expanding its operations in the U.S.... Read More