Day: 28 September 2020

Ontario Cannabis Store appoints Thomas Haig as interim president and CEO

CanadianInvestor
Ontario Cannabis Store appoints Thomas Haig as interim president and CEO
TORONTO — The Ontario Cannabis Store says Thomas Haig has been appointed interim president and chief executive. The provincial pot distributor says Haig was chosen because of his experience in retail and logistics that he earned while in key positions at Hudson’s Bay Co., Zellers, Giant Tiger and Danier. Haig succeeds Cal Bricker, who took a leave from being the... Read More

Most actively traded companies on the Toronto Stock Exchange

Editor
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 (16,242.81, up 177.46 points.) Just Energy Group Inc. (TSX:JE). Energy. Down 8.5 cents, or 18.28 per cent, to 38 cents on 17.1 million shares. Bank of Nova Scotia. (TSX:BNS). Financials. Up $1.51, or 2.77 per cent, to $55.97 on 9.1 million shares.... Read More

North American stock markets rise on hope of new U.S. stimulus and good news in China

Editor
North American stock markets rise on hope of new U.S. stimulus and good news in China
TORONTO — North American stock markets started the week higher on positive economic signs out of China and renewed optimism for another U.S. stimulus package. The S&P/TSX composite index closed up 177.46 points at 16,242.81. In New York, the Dow Jones industrial average was up 410.10 points at 27,584.06. The S&P 500 index was up 53.14 points at 3,351.60, while... Read More

Canadian cybersecurity poll finds 84% rethink doing businesses hit by data breach

CanadianInvestor
Canadian cybersecurity poll finds 84% rethink doing businesses hit by data breach
TORONTO — A new report suggests a large majority of Canadians are reluctant to do business with companies that suffer a data breach. It also says about one-quarter of the people surveyed for the report have had their login credentials stolen from a trusted site. The report by consulting firm KPMG is based on responses from 2,004 people who were... Read More

Court clears way for sale of Brooks Brothers Canada assets to SPARC Group LLC

CanadianInvestor
Court clears way for sale of Brooks Brothers Canada assets to SPARC Group LLC
TORONTO — An Ontario Superior Court judge has granted an order adding Brooks Brothers Canada Ltd. to its parent company’s U.S. bankruptcy proceedings, paving the way for the sale of the luxury clothing retailer’s Canadian assets. The order, issued by Justice Glenn Hainey under the cross-border insolvencies section of the Companies’ Creditors Arrangement Act, allows Brooks Brothers Group Inc. to... Read More

Pandemic-related delays help push up costs of Muskrat Falls project by $435M

CanadianInvestor
Pandemic-related delays help push up costs of Muskrat Falls project by $435M
ST. JOHN’S, N.L. — Delays related to software problems and to the COVID-19 pandemic are pushing up the cost of the Muskrat Falls hydroelectric project by $435 million. Province-owned Nalcor Energy said today in a news release the project needs another $75 million in capital due to pandemic-related days. Nalcor adds that because of those delays and of issues with software, the company has to... Read More

Cleveland-Cliffs buys ArcelorMittal’s US business for $1.4b

CanadianInvestor
Cleveland-Cliffs buys ArcelorMittal’s US business for $1.4b
Cleveland-Cliffs is making its second billion-dollar acquisition in less than a year with the purchase of steel maker ArcelorMittal’s U.S. business for about $1.4 billion in cash and stock. About a third of the deal will be an up front cash payment of about $505 million, the companies said Monday. ArcelorMittal, based in Luxembourg, will also receive stock in Cleveland-Cliffs... Read More

Softening lumber prices offer hope for homebuyers, renovation project builders

CanadianInvestor
Softening lumber prices offer hope for homebuyers, renovation project builders
Analysts say recent softening of record high prices for lumber could translate into a little relief for homebuyers and do-it-yourselfers while continuing to spur high profits for producing companies. RBC analyst Paul Quinn says a US$14 drop to US$941per thousand board feet in the North American framing lumber composite price on Friday represents the first weekly decline noted by industry... Read More

Inter Pipeline to acquire Milk River pipeline in swap deal with Plains

CanadianInvestor
Inter Pipeline to acquire Milk River pipeline in swap deal with Plains
CALGARY — Inter Pipeline Ltd. has signed a deal to acquire the Milk River pipeline system from a subsidiary of Plains All American Pipeline LP, in exchange for its 100 per cent ownership interest in the Empress II and 50 per cent ownership interest in the Empress V straddle plants. Plains will also pay Inter Pipeline $35 million in cash.... Read More