Johnson & Johnson 2Q profit jumps 42% despite lower sales

Johnson & Johnson 2Q profit jumps 42% despite lower sales
Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and lower spending on marketing and administration boosted its profit a whopping 42 per cent. That blew past Wall Street expectations. The maker of baby shampoo and cancer and immune disorder drugs on Tuesday raised its full-year sales forecast,... Read More

Retail rivals crash Amazon’s Prime Day party

Retail rivals crash Amazon’s  Prime Day party
NEW YORK — The gravitational pull of Amazon Prime Day is so strong on shoppers it’s benefiting other retailers as well, according to an early analysis from a key data group. On Monday, the first day of its 48-hour sales event, large retailers, those that generated annual revenue of at least a billion dollars, enjoyed a 64% increase in online... Read More

Health Canada revokes licences of pot producer Agrima Botanicals

Health Canada revokes licences of pot producer Agrima Botanicals
VANCOUVER — Cannabis producer Agrima Botanicals Corp. has had its licences revoked by Health Canada, months after the company disclosed the regulator’s finding that “unauthorized activities” with pot took place at the firm. Agrima is now listed on Health Canada’s website of licensed producers with the status “revoked,” after having its licences suspended last fall. Agrima’s parent company Ascent Industries Corp said in... Read More

Officials flagged 900 food items from China with ‘problems’ over two years

Officials flagged 900 food items from China with ‘problems’ over two years
OTTAWA — Canadian inspectors intercepted nearly 900 food products from China over concerns about faulty labels, unmentioned allergens and harmful contaminants that included glass and metal between 2017 and early 2019, according to internal federal records. The document provides an inside look at imports from China that caught the attention of officials for appearing to fall short of Canadian standards — from gum balls with... Read More

Toronto stock market falls as Canadian dollar hits nine-month high

Toronto stock market falls as Canadian dollar hits nine-month high
TORONTO — While U.S. markets set record highs, Canada’s main stock index ended the week lower as the loonie hit a nine-month high. The S&P/TSX composite index closed down 39.78 points to 16,488.12 after hitting an intraday high of 16,525.70. Seven of the 11 major sectors decreased, led by a 4.5 per cent drop by cannabis-heavy health-care sector. A fifth consecutive day of... Read More

CannTrust stock falls after voluntary halt of all cannabis sales, shipments

CannTrust stock falls after voluntary halt of all cannabis sales, shipments
VAUGHAN, Ont. — Shares of CannTrust Holdings Inc. fell as much as 11 per cent after the cannabis company announced it was voluntarily halting all sales and shipments amid Health Canada’s investigation. CannTrust’s stock was trading at $3.90 on the Toronto Stock Exchange at mid-morning, down 11.1 per cent from its previous close of $4.04. That’s sharply down from its $6.46... Read More

CannTrust’s Danish partner quarantines more pot connected to unlicensed rooms

CannTrust’s Danish partner quarantines more pot connected to unlicensed rooms
TORONTO — CannTrust Holdings Inc.’s Danish partner says it has quarantined more medical pot products linked to illegal cultivation at the Canadian cannabis company’s greenhouse, and warned of possible shortages in Denmark as a result. Stenocare says it has received documentation that shows that five batches of the Danish company’s inventory originated in growing rooms that did not have government... Read More

OCS pulls affected CannTrust cannabis products amid Health Canada probe

OCS pulls affected CannTrust cannabis products amid Health Canada probe
TORONTO — The Ontario Cannabis Store says it has removed certain CannTrust Holdings Inc. products from its shelves online and at physical outlets until Health Canada completes its investigation involving the licensed producer. The OCS says it has voluntarily pulled all affected products after the regulator put a hold on thousands of kilograms of CannTrust’s cannabis after Health Canada found it... Read More

Smaller portions, bigger profit at PepsiCo in 2Q

Smaller portions, bigger profit at PepsiCo in 2Q
PURCHASE, N.Y. — PepsiCo reported better-than-expected profit and revenue in its most recent quarter thanks in part to U.S. price hikes. Pepsi raised prices last fall to cover higher transportation and aluminum costs. In a company conference call, some analysts expressed concern about the trend, saying they would like to see more balance between pricing and volume growth. But CEO... Read More

CannTrust’s Danish partner quarantines pot products linked to illegal growing

CannTrust’s Danish partner quarantines pot products linked to illegal growing
ALLEROD, Denmark — CannTrust Holdings Inc.’s Danish partner says it has quarantined a batch of products received from the licensed producer in connection with Health Canada’s recent discovery of illegal growing operations at its Ontario greenhouse. Stenocare says it has been in contact with the Danish Medicines Agency and the single batch has been put in quarantine for potential destruction, pending... Read More