June 26th, 2017

Business

Kansas jury awards $218M to farmers in Syngenta GMO suit

By Jim Suhr, The Associated Press on June 23rd, 2017

KANSAS CITY, Mo. – A Kansas federal jury awarded nearly $218 million on Friday to farmers who sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed variety. Syngenta vowed to appeal the verdict favouring four Kansas farmers representing roughly 7,300 growers from that state in what served as the first ... Read More »

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Weaker inflation slows to 1.3%, could weigh on central bank’s rate decision

By Andy Blatchford, The Canadian Press on June 23rd, 2017

OTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month helped slow the annual inflation rate to 1.3 per cent for May, Statistics Canada said ... Read More »

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CIBC looks to generate quarter of earnings from U.S. after PrivateBancorp deal

By Alexandra Posadzki, The Canadian Press on June 23rd, 2017

TORONTO – CIBC closed its acquisition of Chicago-based PrivateBancorp on Friday, securing its foothold in the U.S. where CEO Victor Dodig said the bank hopes to one day generate a quarter of its earnings. The Canadian bank (TSX:CM) now earns roughly five per cent of its profits in the U.S., primarily from its wealth management ... Read More »

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Kansas jury awards $218M to Kansas farmers in Syngenta suit

By The Associated Press on June 23rd, 2017

KANSAS CITY, Kan. – A federal jury in Kansas has awarded nearly $218 million to farmers who sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed variety. Friday’s verdict after a three-week trial in Kansas City, Kansas, involves four Kansas farmers representing more than 7,000 farmers in the state. Another ... Read More »

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Kids today: They don’t work summer jobs the way they used to

By Paul Wiseman, The Associated Press on June 23rd, 2017

WASHINGTON – It was at Oregon’s Timberline Lodge, later known as a setting in the horror movie “The Shining,” where Patrick Doyle earned his first real paycheque. He was a busboy. The job didn’t pay much. But Doyle quickly learned lessons that served him for years as he rose to become the CEO of Domino’s, ... Read More »

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Sears Canada store closures expected to have little impact on RioCan

By The Canadian Press on June 23rd, 2017

TORONTO – RioCan Real Estate Investment Trust (TSX:REI.UN) says the restructuring of Sears Canada is expected to have a far smaller impact on its business than when Target closed up shop in Canada. The Toronto-based real estate trust says seven of the 59 announced Sears closures are in RioCan properties and represent 0.4 per cent ... Read More »

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Resource stocks help Toronto index rise more than U.S. benchmarks

By The Canadian Press on June 23rd, 2017

TORONTO – Canada’s main stock index is up sharply this morning despite some drag from lower shares of BlackBerry (TSX:BB). The Toronto Stock Exchange’s S&P/TSX composite index advanced 101.78 points to 15,321.68 after 90 minutes of trading. The gains were largely due to resource stocks that more than offset an 11 per cent decline for ... Read More »

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Price tag for Muskrat Falls hydro megaproject rises by another billion, CEO says

By The Canadian Press on June 23rd, 2017

ST. JOHN’S, N.L. – Costs for the beleaguered Muskrat Falls hydro development in Labrador are up by another $1 billion. Nalcor Energy CEO Stan Marshall says the new price tag is $12.7 billion with financing. That’s up from the estimate last year of $11.7 billion and is about $5 billion higher than when the project ... Read More »

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Norsat International shareholders vote to approve Hytera Communications deal

By The Canadian Press on June 23rd, 2017

VANCOUVER – Norsat International Inc. (TSX:NII) says its securityholders have voted to approve a controversial takeover of the company by Chinese company Hytera Communications Co. Ltd. The Canadian satellite communications firm says its securityholders voted 72.53 per cent in favour of the offer of US$11.50 per share. The deal has been the focus of a ... Read More »

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France’s SNCF places US$968 million order for 83 Bombardier commuter trains

By The Canadian Press on June 23rd, 2017

MONTREAL – The French national railway company has ordered 83 train sets from Bombardier Transportation, for use by the regional commuter system that serves the Paris area. The order by SNCF on behalf of the Paris public transport authority is valued at US$968 million. Bombardier (TSX:BBD.B) says each of the Regio 2N train sets has ... Read More »

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