Business
Expect more flight cancellations and disruptions after weekend outage, WestJet says
By The Canadian Press on November 7th, 2022
CALGARY – Flight cancellations continued today after WestJet’s system-wide outage on Sunday led to halted flights, long customer service wait times and other disruptions. The Calgary-based airline says another 31 flights are cancelled today due to the effects of the system outage combined with winter weather affecting Alberta and parts of Western Canada. Over the ... Read More »
Be the first to comment!Empire Co. hit by IT problems affecting pharmacies at Sobeys and other grocery stores
By The Canadian Press on November 7th, 2022
STELLARTON, N.S. – Grocery stores across Canada owned by Nova Scotia-based Empire Co. Ltd., including the Sobeys chain, are experiencing computer problems that have made it difficult for some customers seeking prescriptions. The company, based in Stellarton, N.S., issued a brief statement today confirming that an “IT systems issue” is affecting certain pharmacies, though it ... Read More »
1 responseCompetition watchdog holds firm on blocking Rogers-Shaw deal in first day of hearing
By The Canadian Press on November 7th, 2022
OTTAWA – Canada’s competition watchdog says it still intends to block Rogers Communications Inc.’s $26-billion proposed takeover of Shaw Communications Inc. in the first day of a weeks-long hearing before the Competition Tribunal. In its opening argument Monday, the Competition Bureau reiterated its position that the planned sale of Shaw-owned wireless carrier Freedom Mobile to ... Read More »
1 responseTMX Group signs deal to buy Boston-based Wall Street Horizon
By The Canadian Press on November 7th, 2022
TORONTO – TMX Group Ltd. has signed a deal to buy Boston-based Wall Street Horizon Inc. (WSH), a provider of corporate event data. Financial terms of the agreement were not immediately available. WSH provides traders, portfolio managers, academics and others with corporate event information, including earnings dates, dividend dates, options expiration dates, splits, spinoffs and ... Read More »
1 responseDelays for new hybrid, electric cars reach years — not months — amid supply crunch
By Brett Bundale, The Canadian Press on November 7th, 2022
When Jesse Chiasson called a car dealership last month to buy a new vehicle, he ended up paying $1,000 to be put on a waitlist instead. “The salesman was pretty vague but hinted it could be 2024 by the time we get the car,” Chiasson said in an interview from Bathurst, N.B. “Worst-case scenario, we ... Read More »
Be the first to comment!S&P/TSX composite up in late-morning trading, U.S. stock markets also higher
By The Canadian Press on November 7th, 2022
TORONTO – Canada’s main stock index was up in late-morning trading, helped by gains in the energy and technology sectors, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 86.93 points at 19,536.74. In New York, the Dow Jones industrial average was up 213.94 points at 32,617.16. The S&P 500 index ... Read More »
1 responseCanada’s farmers need tech, investment to cut carbon emissions: report
By The Canadian Press on November 7th, 2022
A new report by RBC says Canada’s agriculture sector needs to increase food production while also investing in sustainability to reduce emissions. The report in collaboration with the BCG Centre for Canada’s Future and the University of Guelph’s Arrell Food Institute says Canada needs to increase its food production by a quarter by 2050 just ... Read More »
Be the first to comment!Gold Fields stands by offer to buy Yamana Gold despite rival takeover bid
By The Canadian Press on November 7th, 2022
TORONTO – Gold Fields Ltd. is standing by its offer to buy Yamana Gold Inc. in the face of a rival offer for the gold miner by Pan American Silver Corp. and Agnico Eagle Mines Ltd. The company says it believes its offer for Yamana remains strategically and financially superior. Gold Fields has offered 0.6 ... Read More »
Be the first to comment!Cannabis company Tilray to buy New York brewer Montauk Brewing Company
By The Canadian Press on November 7th, 2022
NEW YORK – Tilray Brands Inc. has acquired Montauk Brewing Company in a bid to expand its U.S. alcohol division. The cannabis company says the acquisition of the New York brewer will be accretive to Tilray’s adjusted EBITDA, but did not disclose the terms of the deal. Montauk Brewing Company has more than 6,400 distribution ... Read More »
Be the first to comment!Presidential push: Biden, Obama, Trump stump before Tuesday’s midterm elections
By The Canadian Press on November 7th, 2022
WASHINGTON – Presidents past and present are making one final push as the 2022 U.S. midterm election campaigns finally approach the finish line. Joe Biden and Barack Obama reunited the 2008 Democratic ticket over the weekend in Pennsylvania, down the road from where Donald Trump was teasing a 2024 comeback bid. Trump has another rally ... Read More »
Be the first to comment!GIC and Dream Industrial REIT form JV to buy Summit Industrial Income REIT
By The Canadian Press on November 7th, 2022
TORONTO – A Singaporean sovereign wealth fund and Dream Industrial REIT have formed a joint venture to buy Summit Industrial Income REIT in a deal valued at $5.9 billion, including assumed debt. Summit holds a portfolio of light industrial properties in markets across Canada. Under the agreement, GIC and Dream Industrial REIT will pay $23.50 ... Read More »
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