Author: CanadianInvestor

North American stock markets end wild week with a partial rebound

CanadianInvestor
North American stock markets end wild week with a partial rebound
TORONTO — North American stock markets rebounded to end a roller-coaster week that took investors for a wild ride on concerns about slowing economic growth and trade uncertainty. The S&P/TSX composite index closed up 137.26 points at 16,149.79. In New York, the Dow Jones industrial average was up 306.62 points at 25,886.01. The S&P 500 index was up 41.08 points at 2,888.68,... Read More

Oilsands firms considering diluent recovery units to boost crude-by-rail volumes

CanadianInvestor
Oilsands firms considering diluent recovery units to boost crude-by-rail volumes
CALGARY — Ongoing pipeline project delays and growth in crude-by-rail capacity from Western Canada are leading some oilsands producers to consider spending billions of dollars to build diluent recovery units. Oilsands bitumen is a thick, sticky oil which must be diluted with about half as much light petroleum to flow in a pipeline, but diluent isn’t needed for rail transport because the product can... Read More

Canopy Growth executives compensation surges following cannabis legalization

CanadianInvestor
Canopy Growth executives compensation surges following cannabis legalization
SMITHS FALLS, Ont. — Canopy Growth Corp. executives have struck it rich as their total compensation surged to $28.5 million last year including the first months since cannabis was legalized in October. Nearly 90 per cent of the payout to the six top officials was in the form of option-based awards, the Smiths Falls, Ont., company said in a regulatory filing. Bruce... Read More

North American stock markets trade higher at end of wild week for investors

CanadianInvestor
North American stock markets trade higher at end of wild week for investors
TORONTO — Canada’s main stock index posted a triple-digit advance in late-morning trading at the end of a roller-coaster of a week for stock markets that has seen investors taken for a wild ride. The S&P/TSX composite index was up 125.67 points at 16,138.20. In New York, the Dow Jones industrial average was up 280.49 points at 25,859.88. The S&P... Read More

TSX rebounds from worst day of year but still closes lower on economic worries

CanadianInvestor
TSX rebounds from worst day of year but still closes lower on economic worries
TORONTO — Canada’s main stock index rebounded from its worst day of the year but still closed lower amid continuing concerns about a global economic slowdown. The S&P/TSX composite index closed down 33.41 points at 16,012.53. In New York, the Dow Jones industrial average was up 99.97 points at 25,579.39. The S&P 500 index was up seven points at 2,847.60, while the Nasdaq... Read More

Intact inks $1B deal for two insurers as a portal to rich clients

CanadianInvestor
Intact inks $1B deal for two insurers as a portal to rich clients
TORONTO — Intact Financial Corp. has signed a deal to buy two specialty insurers in a move that gives it a foothold in the market for wealthy clients, part of a broader push among financial services firms toward high-net-worth customers. The $1-billion agreement with Princeton Holdings Ltd. will see The Guarantee Co. of North America and Frank Cowan Co. Ltd.... Read More

Canopy Growth shares tumble on CEO exit plans, loss of market share

CanadianInvestor
Canopy Growth shares tumble on CEO exit plans, loss of market share
Canopy Growth Corp. shares fell to their lowest level this year on Thursday after quarterly results suggested the cannabis producer lost market share and an announcement that its interim chief executive plans to leave the company, just weeks after his co-CEO was pushed out. The Smith Falls, Ont.-based company shares were down $6.35 or 15 per cent at $36.22 by late afternoon on the Toronto Stock... Read More