September 23rd, 2019

Business

Fortis Inc. raises dividend by 6.1 per cent, increases capital spending plan

By The Canadian Press on September 10th, 2019

ST. JOHN’S, N.L. – Fortis Inc. raised its dividend as it announced an increased capital investment plan. The utility company says it will now pay a quarterly dividend of 47.75 cents per share, up from 45 cents. Shares in Fortis will have an annual yield of 3.4 per cent based on its closing share price ... Read More »

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Suncor to spend $1.4B to replace coke-fired boilers with cogeneration units

By The Canadian Press on September 10th, 2019

CALGARY – Suncor Energy Inc. says it will spend $1.4 billion to replace its coke-fired boilers with two cogeneration units at its oilsands base plant north of Fort McMurray, Alta. The company says the units will provide steam generation for its extraction and upgrading operations and generate 800 megawatts of power. The change will also ... Read More »

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Johnson suspends UK Parliament after latest Brexit defeat

By Jill Lawless, The Associated Press on September 9th, 2019

LONDON – The simmering showdown between Prime Minister Boris Johnson and Britain’s Parliament over Brexit came to a head as lawmakers delivered three defeats to the government’s plans for leaving the European Union, before being sent home early Tuesday for a contentious five-week suspension of the legislature. In a session that ran well past midnight, ... Read More »

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West Fraser to vary schedule at 5 B.C. mills, reducing production 15-25 per cent

By The Canadian Press on September 9th, 2019

VANCOUVER – West Fraser Timber Co. Ltd. says it will introduce variable operating schedules at five of its British Columbia sawmills, resulting in an estimated 15 to 25 per cent decrease in production. The company says in a news release that starting next Monday, the schedules at the mills will vary and be adjusted from ... Read More »

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Shopify to buy fulfilment solutions company 6 River Systems for US$450M

By The Canadian Press on September 9th, 2019

OTTAWA – Shopify Inc. says it will buy fulfilment solutions company 6 River Systems Inc. in a US$450 million cash and share deal as it looks to push further into the warehousing and shipping side of online retail. Ottawa-based Shopify says the acquisition will give it access to fulfilment software and robotics, including mobile robots ... Read More »

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Mining royalty firm Franco-Nevada announces new leadership plans

By The Canadian Press on September 9th, 2019

TORONTO – Franco-Nevada Corp. has announced plans for a change in leadership at the gold-focused mining investment firm. The Toronto-based company says its CEO, David Harquail, who’s served in the role since 2007, will become the non-executive chairman of its board of directors as of next May’s annual general meeting. Paul Brink, current president and ... Read More »

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North American markets relatively flat in pause of extreme volatility

By The Canadian Press on September 9th, 2019

TORONTO – Canada’s main stock index started the week down slightly as North American markets took a pause from recent extreme volatility. The S&P/TSX composite index closed down 40.24 points at 16,495.09. In New York, the Dow Jones industrial average was up 38.05 points at 26,835.51. The S&P 500 index was down 0.28 points at ... Read More »

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US consumer borrowing posts biggest gain since late 2017

By Martin Crutsinger, The Associated Press on September 9th, 2019

WASHINGTON – Consumer borrowing surged in July at its fastest pace since late 2017, driven by a big jump credit card use. The Federal Reserve says overall consumer borrowing increased by $23.3 billion in July after a $13.8 billion advance in June. It was the biggest monthly gain since a $29.9 billion jump in November ... Read More »

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Canadian passengers scramble after British Airways cancels flights due to strike

By The Associated Press on September 9th, 2019

LONDON – Canadian travel agencies are scrambling to help passengers whose British Airways flights have been cancelled on Monday and Tuesday after a pilots strike grounded the global carrier. The airline says more than a dozen flights between Canada and London are slated to be cancelled over the two days affecting about 3,500 passengers based ... Read More »

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Andreescu set to make millions in endorsements after U.S. Open victory

By The Canadian Press on September 9th, 2019

Teen tennis phenom Bianca Andreescu’s future earnings potential skyrocketed after her surprise win at the U.S. Open. She won US$3.85 million for beating Serena Williams in the women’s final Saturday, but it’s likely that paycheque is only the beginning of million-dollar payouts from future sponsorship deals. Cary Kaplan, president of Cosmos Sports & Entertainment, says ... Read More »

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