U.S. hedge fund to vote against Canopy’s proposed US$3.4B acquisition of Acreage

U.S. hedge fund to vote against Canopy’s proposed US$3.4B acquisition of Acreage
SMITHS FALLS, Ont. — A U.S. hedge fund says it will vote against Canopy Growth’s proposed acquisition of Acreage Holdings, saying the US$3.4-billion offer is “substantially lower” than the U.S. cannabis company’s worth. Marcato Capital Management, which manages funds that own roughly 2.7 per cent of Acreage’s outstanding shares, says the deal is “unbelievably lopsided” in favour of the Canadian... Read More

As car-sharing picks up in US, so do legislative battles

As car-sharing picks up in US, so do legislative battles
PHOENIX — When Chris Williamson was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments by renting it to strangers on a peer-to-peer car sharing app called Turo. It allows his family of... Read More

Ex-GE engineer charged with stealing trade secrets for China

Ex-GE engineer charged with stealing trade secrets for China
ALBANY, N.Y. — A former General Electric engineer and his business partner in China were indicted Tuesday on charges they stole the company’s trade secrets from a New York plant for the Chinese government in what federal prosecutors called “a textbook example” of industrial espionage. The Department of Justice announced that Xiaoqing Zheng, 56, of Niskayuna, New York, and Zhaoxi... Read More

Acquisitions, insolvencies cited as drilling company count tumbles by 40%

Acquisitions, insolvencies cited as drilling company count tumbles by 40%
CALGARY — A research report by AltaCorp Capital shows the number of companies actively drilling in Canada has declined by 40 per cent since the oil price crash of late 2014. The analysis cites industry data which shows only 26 drilling contractors have been working so far in 2019, 17 fewer than observed in 2014. It says consolidation is the biggest... Read More

Japanese Prime Minister Shinzo Abe to visit Canada next weekend, April 27-28

Japanese Prime Minister Shinzo Abe to visit Canada next weekend, April 27-28
OTTAWA — Prime Minister Justin Trudeau will meet with his Japanese counterpart, Shinzo Abe, when the latter visits Canada next weekend. Abe and Trudeau’s two-day meeting on April 27 and 28 will centre on the upcoming G20 summit in Osaka in late June, as well strengthening ties between the two countries. Trudeau’s office says in a statement the two will also discuss the... Read More

Canola group demands Ottawa ‘consider all available options’ in China seed dispute

Canola group demands Ottawa ‘consider all available options’ in China seed dispute
The Canola Council of Canada is calling on the federal government to “consider all available options” amid a trade dispute with China that has resulted in suspended seed shipments from two exporters. China suspended the licenses of Richardson International Ltd. and Viterra Inc., citing concerns about pests, and Chinese companies stopped buying seed from Canadian producers in recent months. The... Read More

Oil and gas sector applauds new Alberta premier’s many pro-business pledges

Oil and gas sector applauds new Alberta premier’s many pro-business pledges
CALGARY — The Alberta oilpatch is applauding the provincial election win by Jason Kenney and his United Conservatives. The Canadian Association of Petroleum Producers offered congratulations and welcomed the UCP’s commitment to making regulatory, economic and fiscal policy reforms. It says it endorsed UCP election promises to cut the corporate tax rate to eight per cent from 12 per cent,... Read More

Canadian business sentiment drops from high levels: central bank survey

Canadian business sentiment drops from high levels: central bank survey
OTTAWA — A new Bank of Canada survey says business sentiment has fallen from elevated levels, with companies underlining uncertainty around global trade, the housing sector and the energy industry. The central bank’s measure for business sentiment dropped from its near-record heights last year into negative territory for the first time since the third quarter of 2016. The more-upbeat reading in the previous report was based on a November poll taken... Read More

Stelco pushes PM for help in dealing with ‘changing landscape’ for steel

Stelco pushes PM for help in dealing with ‘changing landscape’ for steel
OTTAWA — Canadian steel producer Stelco is looking for more support from the federal government as the country’s steel and aluminum producers grapple with punishing U.S. tariffs imposed on exports of their products south of the border. Stelco Holdings Inc., president and executive chairman Alan Kestenbaum met with Justin Trudeau in Ottawa Thursday. While he thanked the prime minister for... Read More

Few SNC-Lavalin rivals have been granted DPAs, contrary to CEO’s claims

Few SNC-Lavalin rivals have been granted DPAs, contrary to CEO’s claims
MONTREAL — It was a sunny Wednesday in March, and Neil Bruce was making his case for why SNC-Lavalin Group Inc. deserved a negotiated settlement over corruption charges tied to alleged dealings in Libya. After spending six weeks in the eye of a political storm over the actions of top government officials who had pushed to head off a criminal prosecution... Read More