Investment – Canadian Investor

TekSavvy launches ad campaign in latest battle with big phone, cable companies

January 20, 2020 CanadianInvestor

TORONTO — TekSavvy Solutions Inc. has launched an advertising campaign seeking public support in a politically charged battle that Canada’s independent internet services providers are waging with the big phone and cable companies. Ontario-based TekSavvy is Canada’s biggest independent internet service provider, but it’s small in comparison to the internet-arms of Canada’s major phone and cable companies. The big telecom companies asked the federal cabinet in November to overrule... Read More

Quebec investor group buying Canam Group’s Canadian operations and other assets

January 20, 2020 CanadianInvestor

ST-GEORGES, Que. — A group of Quebec investors has signed a deal to buy the Canadian operations of the Canam Group architectural steel company, as well as certain assets in the United States and overseas, from the American Industrial Partners equity firm. The transaction, which is expected to close in the coming weeks, will total more than $840 million. Under the terms... Read More

Cannabis company Canopy Growth delaying launch of infused beverages

January 17, 2020 CanadianInvestor

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

January 16, 2020 CanadianInvestor

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

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

January 16, 2020 CanadianInvestor

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

Retailer Canadian Tire names Gregory Craig as new chief financial officer

January 16, 2020 CanadianInvestor

TORONTO — Canadian Tire Corp. Ltd. is promoting Gregory Craig to the job of chief financial officer, replacing Dean McCann, who is retiring. Craig is president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank. He takes over the new job on March 2. McCann will continue as a director of Canadian Tire Bank and a trustee... Read More

Starbucks to open pick-up focused Toronto spot as eateries revamp for ‘this new digital age’

January 15, 2020 CanadianInvestor

Customers accustomed to hunkering down for hours to work or socialize won’t be able to do so at the newest Starbucks format that lacks seating and encourages people to grab their drinks and go. Starbucks Canada announced Tuesday it will open what it calls a pickup store in downtown Toronto’s underground pedestrian complex, the PATH. The move is part of... Read More

North American stock markets set new records after U.S.-China trade deal signing

January 15, 2020 CanadianInvestor

TORONTO — North American stock markets moved further into record territory in the aftermath of the signing of a trade deal between the world’s two largest economies. The S&P/TSX composite index was up 62.27 points at 17,415.17 after trading as high as 17,421.67. In New York, markets set intraday highs before giving up much of the gains. The Dow Jones... Read More

Ahead in the clouds: Alibaba plans to change the Olympics

January 15, 2020 CanadianInvestor

LAUSANNE, Switzerland — Alibaba’s promise to the Olympic family is to bring its technological might to help organizers, broadcasters and fans. The Chinese tech giant’s Olympic sponsorship deal is worth hundreds of millions of dollars and runs for 12 years, starting in 2017 and continuing through the upcoming Tokyo Games and the 2022 Winter Games in Beijing and into the... Read More

BDC survey finds business confidence down, but companies still plan to invest

January 15, 2020 CanadianInvestor

MONTREAL — A new survey by the Business Development Bank of Canada suggests trade disputes and a global slowdown have undermined small business confidence in the economy, but firms still plan to make investments in their businesses. Despite the drop in confidence in the economy, Canadian entrepreneurs on balance are more upbeat about their own prospects and expect to see... Read More