Bombardier’s financial challenges worry ratings agencies, prompting downgrades

Bombardier’s financial challenges worry ratings agencies, prompting downgrades
MONTREAL — Two major rating agencies have voiced concerns over the finances of Bombardier Inc., whose future is being questioned as it considers options to raise its more than US$9 billion debt. S&P Global Ratings changed its outlook to “negative” from “stable” on Friday, following in the footsteps of Moody’s Investors Service, which did the same Thursday evening. The Montreal-based transportation... Read More

North American stock markets rise nearly two per cent in record-breaking week

North American stock markets rise nearly two per cent in record-breaking week
TORONTO — North American stock markets gained almost two per cent in a record-breaking week defined by continued investor optimism. The S&P/TSX composite index was up 74.25 points at 17,559.02 after trading at a record high of 17,572.15. In New York, the Dow Jones industrial average was 50.46 points at 29,348.10. The S&P 500 index was up 12.81 points at 3,329.62,... Read More

US housing construction jumps 16.9% in December

US housing construction jumps 16.9% in December
WASHINGTON — Construction of new homes surged in December to the highest level in 13 years, capping a year in which falling mortgage rates and a strong labour market helped lift the prospects of the housing industry. The Commerce Department reported Friday that builders started construction on 1.61 million homes at a seasonally adjusted annual rate in December, up 16.9%... Read More

Cannabis company Canopy Growth delaying launch of infused beverages

Cannabis company Canopy Growth delaying launch of infused beverages
SMITH FALLS, Ont. — Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks. The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps. Canopy submitted its final documentation for its beverage facility to Health Canada last June and received its license in... Read More

Supreme Court dismisses B.C.’s appeal in Trans Mountain pipeline case

Supreme Court dismisses B.C.’s appeal in Trans Mountain pipeline case
OTTAWA — The Supreme Court of Canada shut down British Columbia’s move to regulate what can flow through an expanded Trans Mountain pipeline from Alberta. B.C. was appealing to the country’s highest court after the B.C. Court of Appeal ruled last May that the province couldn’t impose any restrictions on the contents on the Trans Mountain pipeline expansion. On Thursday, the Supreme Court agreed.... Read More

CSA issues guidance on when crypto trades may be outside securities laws

CSA issues guidance on when crypto trades may be outside securities laws
MONTREAL — Securities regulators in Canada have issued clarification around when a cryptocurrency trade may fall outside of securities laws as part of an evolving understanding of how rules apply to the relatively new asset class. The Canadian Securities Administrators, which represents provincial regulators, says that in some cases crypto assets are clearly securities and so fall under such laws, but that there are cases where they... Read More

Sorting accumulated investment clutter key to worry-free retirement plan

Sorting accumulated investment clutter key to worry-free retirement plan
CALGARY — A long life of assorted jobs, good times, hard times, moves and mistakes can result in an investment portfolio that looks like a jumbled basement storage closet. Your working life goal of accumulating as many assets as possible to build a nest egg for retirement ends along with your employment income when retirement day arrives at last. Now, investment experts say, de-cluttering those tangled stocks, bonds,... Read More

Auto parts firm Magna International expects 2020 sales to be down from 2019

Auto parts firm Magna International expects 2020 sales to be down from 2019
AURORA, Ont. — Magna International Inc. says it expects sales in 2020 to fall compared with 2019 due to a stronger U.S. dollar, the sale of its fluid pressure and controls business and lower expected light vehicle production in Europe. The auto parts company also says it has decided to conclude its self-driving technology partnership with Lyft as part of a... Read More

Canada’s main stock index in record territory, U.S. stock markets also gain

Canada’s main stock index in record territory, U.S. stock markets also gain
TORONTO — Canada’s main stock index continued to march higher into record territory as the key energy and financial sectors helped it gain ground. The S&P/TSX composite index was up 54.84 points at 17,470.01 after trading as high as 17,480.18. In New York, the Dow Jones industrial average was up 159.03 points at 29,189.25. The S&P 500 index was up... Read More