Tesla CEO Elon Musk’s next big bet rides on better batteries

Tesla CEO Elon Musk’s next big bet rides on better batteries
SAN RAMON, Calif. — Tesla is working on new battery technology that CEO Elon Musk says will enable the company within the next three years to make sleeker, more affordable cars that can travel dramatically longer distances on a single charge. But the battery breakthroughs that Musk unveiled Tuesday at a highly anticipated event didn’t impress investors. They were hoping... Read More

Aurora reports $3.3 billion loss for full year, $1.86 billion for Q4

Aurora reports $3.3 billion loss for full year, $1.86 billion for Q4
Miguel Martin has his work cut out for him just weeks into his new job as Aurora Cannabis Inc.’s chief executive. The Edmonton-based cannabis company reported Tuesday that it incurred $3.3 billion in losses in its 2020 fiscal year, including $1.86 billion in its latest quarter due to large impairment charges. Martin, who was named CEO on Sept. 8, conceded... 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 Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,142.89, up 161.12 points.) Canadian Natural Resources (TSX:CNQ). Up 51 cents, or 2.31 per cent, to $22.60 on 13.3 million shares. Suncor Energy Inc. (TSX:SU). Energy. Up three cents, or 0.18 per cent, to $16.92 on 9.1 million shares. Bombardier Inc. (TSX:BBD.B).... Read More

North American stock markets rebound despite concerns about COVID, U.S. gridlock

North American stock markets rebound despite concerns about COVID, U.S. gridlock
TORONTO — The technology sector helped North American stock markets to bounce back Tuesday despite ongoing concerns about COVID-19 infections and U.S. political gridlock. “I think that there are a lot of opposing forces in play right now and the market could have broken in either direction,” said Craig Jerusalim, portfolio manager at CIBC Asset Management. The big negatives are... Read More

Online shopping, ‘lifestyle changes’ spur retail revolution, supply chain bottlenecks

Online shopping, ‘lifestyle changes’ spur retail revolution, supply chain bottlenecks
  As the pandemic continues to radically alter how Canadians spend their money, experts say a second wave of COVID-19 will likely see consumers plagued by shortages – but this time stemming from “lifestyle changes” rather than panic buying. The early days of the pandemic saw toilet paper emptied out of store shelves and some retailers are running low once... Read More

Bombardier aerostructures sale comes into question, dragging shares to new low

Bombardier aerostructures sale comes into question, dragging shares to new low
MONTREAL — Bombardier Inc. shares fell to a new low Tuesday after Spirit AeroSystems said some closing conditions on its planned acquisition of Bombardier’s aerostructures business remain unmet, injecting a degree of uncertainty into the deal. The US$500-million sale of facilities in Belfast and Morocco forms a key part of Bombardier’s shift from a commercial plane-and-train maker to a pure-play... Read More

Canadian auto workers extend Ford contract, delay strike

Canadian auto workers extend Ford contract, delay strike
DETROIT — The union that represents Canadian auto workers has extended its contract with Ford beyond its original Monday night deadline, a sign that progress is being made toward an agreement. The Unifor union has scheduled a news conference for 11 a.m. Tuesday to discuss the talks. It picked Ford as a potential strike target on Sept. 8. Union President Jerry Dias... Read More

Critic of Chinese leader sentenced to 18 years in graft case

Critic of Chinese leader sentenced to 18 years in graft case
BEIJING — The former chairman of a Chinese state-owned real estate company who publicly criticized President Xi Jinping’s handling of the coronavirus pandemic was sentenced to 18 years in prison on Tuesday in a corruption case, the government announced. Ren Zhiqiang, who had become known for speaking up about censorship and other sensitive topics, disappeared from public view in March... Read More

Dye & Durham buying U.K. company Property Information Exchange for $52.9M

Dye & Durham buying U.K. company Property Information Exchange for $52.9M
  TORONTO — Cloud software company Dye & Durham Ltd. of Toronto has signed a deal to buy U.K.-based rival Property Information Exchange Ltd. for $52.9 million. Property Information Exchange offers cloud-based real estate due diligence products in the United Kingdom. Dye & Durham said the company is a direct competitor and it plans to integrate and streamline the offerings... Read More

S&P/TSX composite index up in early trading, U.S. stock markets also climb

S&P/TSX composite index up in early trading, U.S. stock markets also climb
TORONTO — Strength in the energy and financial sectors helped lift Canada’s main stock index in early trading and U.S. stock markets also rose, a day after fears of another COVID-19 economic shutdown prompted a sharp drop in stocks. The S&P/TSX composite index was up 90.87 points at 16,072.64. In New York, the Dow Jones industrial average was up 87.12... Read More