April 19th, 2018

Business

Pot stocks riding high on Trump commitment to support states where legal

By The Canadian Press on April 13th, 2018

Canadian and U.S. marijuana stocks are riding high on news that President Donald Trump will support congressional efforts to protect states that have legalized cannabis, which is illegal south of the border under federal law. Licensed producer Aphria Inc.’s stock rose nearly 15 per cent to close at $11.40 on the Toronto Stock Exchange while ... Read More »

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Toronto market edges higher as oil climbs, U.S. markets, loonie down

By The Canadian Press on April 13th, 2018

TORONTO – Canada’s main stock index edged higher Friday as commodity prices rose, while U.S. stocks ended down. The Toronto Stock Exchange’s S&P/TSX composite index closed up 4.70 points at 15,273.97, helped by gold, oil, and cannabis sectors. In New York, the Dow Jones industrial average closed down 122.91 points at 24,360.14. The S&P 500 ... Read More »

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Canada increases oil exports, finding buyers in the U.S. despite shale oil boom

By The Canadian Press on April 13th, 2018

CALGARY – The National Energy Board says Canadian oil exports rose by 6.5 per cent last year to 3.3 million barrels per day despite an increase in light shale oil production in the United States, Canada’s biggest customer and competitor. The federal regulator says heavy crude made up 77 per cent or 2.5 million bpd ... Read More »

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‘Big things can get done in Canada,’ Trudeau tells business leaders

By Lee Berthiaume, The Canadian Press on April 13th, 2018

LIMA, Peru – Prime Minister Justin Trudeau will look for some common ground on North American free trade talks when he meet with Mexico’s president Friday on the sidelines of a major international summit in Peru’s capital. The face-to-face comes after Trudeau, whose government is struggling with a pipeline crisis at home, pitched Canada as ... Read More »

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Feds have options to cut risk for Trans Mountain pipeline investors, says Carr

By The Canadian Press on April 13th, 2018

OTTAWA – Natural Resources Minister Jim Carr says Canada is considering several ways to reduce the financial risk for Kinder Morgan investors spooked by the uncertainty plaguing the planned Trans Mountain pipeline expansion. Carr says the government is still examining its options, but won’t commit to a course of action before Sunday, when Prime Minister ... Read More »

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JPMorgan posts record profit as banks benefit from tax law

By Ken Sweet And Matt Ott, The Associated Press on April 13th, 2018

NEW YORK – Wall Street giant JPMorgan reported its biggest quarterly profit ever Friday, and Citigroup and Wells Fargo also notched higher earnings, with all three getting a huge assist from the tax law passed late last year. Banks are expected to be major beneficiaries of the tax overhaul, which sharply lowered corporate tax rates. ... Read More »

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RCMP conducts six searches in Toronto area in syndicated mortgages probe

By The Canadian Press on April 13th, 2018

TORONTO – The RCMP says it has carried out six search warrants in the Greater Toronto Area related to an investigation into syndicated mortgage frauds. Royal Canadian Mounted Police sergeant Penny Hermann says the searches were carried out this morning by its Integrated Market Enforcement Team, but would not provide further details or confirm which ... Read More »

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Toy magnate bids $1.1 billion for Toys “R” Us stores in Canada and U.S.

By The Canadian Press on April 13th, 2018

The head of toy giant MGA Entertainment Inc. says he and other investors have put in a $1.1 billion bid for Toys “R” Us stores in Canada and the U.S. Isaac Larian, the billionaire who the company behind Little Tikes, Bratz and L.O.L. Surprise! toys, says the toy industry will “truly suffer” if Toys R ... Read More »

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Crescent Point criticizes dissident’s nominees in lengthy letter to investors

By The Canadian Press on April 13th, 2018

CALGARY – Crescent Point Energy Corp. is doubling down in its battle with an activist investor, criticizing the company, its leader and even the ages of two of the four directors it has nominated for election at the annual general meeting next month. A lengthy letter to shareholders asking them to reject the dissident slate ... Read More »

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Aimia investor says it will vote against re-election of board nominees

By The Canadian Press on April 13th, 2018

MONTREAL – A U.S. investor of Aeroplan operator Aimia Inc. says it plans to vote against the re-election of the company’s board of director nominees at this month’s annual meeting. 22NW Fund LP of Seattle blames the loyalty rewards company’s poor performance and plummeting share price directly on the board’s actions, including the “botched” Air ... Read More »

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