Day: 9 December 2020

S&P/TSX composite snaps six-day winning streak with energy, tech and materials losses

CanadianInvestor
S&P/TSX composite snaps six-day winning streak with energy, tech and materials losses
  TORONTO — Canada’s main stock index snapped a six-day winning streak on Brexit anxiety and energy demand concerns. The S&P/TSX composite index closed down 79.14 points to 17,559.86. In New York, the Dow Jones industrial average was down 105.07 points at 30,068.81. The S&P 500 index was down 29.43 points at 3,672.82, while the Nasdaq composite was down 243.82... Read More

US govt, states sue Facebook for ‘predatory’ conduct

CanadianInvestor
US govt, states sue Facebook for ‘predatory’ conduct
  WASHINGTON — Federal regulators on Wednesday sued to force a breakup of Facebook as 48 states and districts accused the company in a separate lawsuit of abusing its market power in social networking to crush smaller competitors. The antitrust lawsuits were announced by the Federal Trade Commission and New York Attorney General Letitia James. The FTC specifically asked a... Read More

Canopy Growth to close five facilities across Canada, lay off 220 workers

CanadianInvestor
Canopy Growth to close five facilities across Canada, lay off 220 workers
  SMITHS FALLS, Ont. — Canopy Growth Corp. says it is ceasing operating at five facilities across the country and laying off more than 200 workers. The Smiths Falls, Ont-based cannabis company says it will end operations at sites in St. John’s, Fredericton, Edmonton, Bowmanville, Ont. and at an outdoor grow facility in Saskatchewan. The company says about 220 employees... Read More

Whitecap strikes deal to add TORC Oil & Gas to grow production to 100,000 boe/d

CanadianInvestor
Whitecap strikes deal to add TORC Oil & Gas to grow production to 100,000 boe/d
  CALGARY — Whitecap Resources Inc. is cementing its position as a consolidator of conventional oil and gas plays in Western Canada with a friendly $550-million all-stock deal to buy Calgary rival TORC Oil & Gas Ltd. Shares in both companies soared on Wednesday morning, with Whitecap gaining as much as 61 cents or 14 per cent to $4.96 and... Read More

Ucore Reports: US National Defense Authorization Act Mandates REE Mined and Refined Outside of China

Editor
Ucore Reports: US National Defense Authorization Act Mandates REE Mined and Refined Outside of China
  HALIFAX – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) today reported on several developments with rare earth elements involving the US government’s National Defense Authorization Act for Fiscal Year 2021. The bill, which passed the U.S. House of Representatives by a vote of 335 to 78 on December 8, 2020, requires most Department of Defense systems to use REE mined and... Read More

Energy gains as S&P/TSX composite edges up, U.S. stock markets mixed in early trading

CanadianInvestor
Energy gains as S&P/TSX composite edges up, U.S. stock markets mixed in early trading
  TORONTO — Strength in the energy sector helped Canada’s main stock index edge higher in early trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 3.38 points at 17,642.38. In New York, the Dow Jones industrial average was up 129.01 points at 30,302.89. The S&P 500 index was up 7.63 points at 3,709.88, while the... Read More

Hydro-Quebec launches new subsidiary specialized in energy storage business

CanadianInvestor
Hydro-Quebec launches new subsidiary specialized in energy storage business
  MONTREAL — Hydro-Quebec has launched a new energy storage business aimed at power producers, transmission providers and distributors, as well as commercial and industrial markets. The utility says EVLO Energy Storage Inc. will design, sell, and operate medium- and large-scale energy storage systems. EVLO systems will also include power control and energy management software. Hydro-Quebec says EVLO storage systems... Read More

With key rate unlikely to move, focus shifts to Bank of Canada’s take on economy

CanadianInvestor
With key rate unlikely to move, focus shifts to Bank of Canada’s take on economy
  OTTAWA — The Bank of Canada will deliver an interest rate announcement today with observers watching if news about vaccines gives a shot in the arm to the bank’s outlook on the economy. The central bank’s most recent economic forecasts were based on having a vaccine becoming widely available in 2022, not by next year as now appears the... Read More

UK investigates possible allergic reactions to COVID-19 shot

CanadianInvestor
UK investigates possible allergic reactions to COVID-19 shot
  LONDON — U.K. regulators have had two reports of possible allergic reactions from people who took part in the first day of Britain’s mass coronavirus vaccination program against COVID-19. Dr. June Raine, head of the U.K.’s medical regulatory agency, reported those reactions as she testified Wednesday to a Parliamentary committee. The U.K. began vaccinating elderly people and medical workers... Read More

Dollarama reports Q3 profit up from year ago, announces employee bonus

CanadianInvestor
Dollarama reports Q3 profit up from year ago, announces employee bonus
  MONTREAL — Dollarama Inc. said it will pay a bonus to its employees for their work during the pandemic as it raised its dividend and reported its third-quarter profit rose compared with a year ago. Full-time employees will receive $300, while part-time workers will receive $200. The one-time payment comes as the retailer raised its quarterly dividend to 4.7... Read More