June 24th, 2018

Business

DavidsTea losses more than triple in first quarter ahead of proxy battle

By The Canadian Press on June 11th, 2018

MONTREAL – Embattled beverage retailer DavidsTea says its net loss more than tripled as sales fell six per cent in the first quarter of its fiscal year. The Montreal-based company lost $1.2 million for the period ended May 5, compared with a loss of $362,000 a year earlier. That translated into a loss of five ... Read More »

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Most actively traded companies on the TSX

By The Canadian Press on June 11th, 2018

Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (16,263.29, up 60.60 points) Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up four cents, or 0.82 per cent, to $4.92 on 7.5 million shares. Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 38 cents, or 4.09 per cent, to $8.92 on 6.6 ... Read More »

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WestJet pilots union to also represent Swoop pilots, says arbitrator

By The Canadian Press on June 11th, 2018

CALGARY – A federal arbitrator has ruled that WestJet’s unionized pilots will also fly its new ultra-discount carrier Swoop that’s set to launch next week. Capt. Rob McFadyen, chairman of WestJet’s Air Line Pilots Association, says the decision means the airline can no longer outsource Swoop flying, a major disagreement in recent negotiations. Swoop will ... Read More »

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Halifax firm suspends ‘Old Harry’ oil exploration in Gulf of St. Lawrence

By The Canadian Press on June 11th, 2018

Halifax-based Corridor Resources Inc. (TSX:CDH) says it has suspended exploratory work on the Old Harry project in the Gulf of St. Lawrence for the foreseeable future. In a news release issued Monday, the company says it has completed a geotechnical analysis and has determined that it wouldn’t be “prudent” to continue with additional capital spending, ... Read More »

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Major North American stock indices rise despite Donald Trump’s trade tirade

By The Canadian Press on June 11th, 2018

TORONTO – Major stock indices in North America made gains despite U.S. President Donald Trump’s threat to slap tariffs on Canadian auto makers. The S&P/TSX composite index gained 60.60 points to 16,263.29. In New York, the Dow Jones industrial average rose 5.78 points to 25,322.31. The S&P 500 index climbed 2.97 points to 2782.00 and ... Read More »

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CPP Investment Board approached about Trans Mountain, CEO says no decision yet

By The Canadian Press on June 11th, 2018

OTTAWA – The head of the Canada Pension Plan Investment Board says the federal government’s financial adviser has raised the possibility of getting involved in the Trans Mountain pipeline project but there’s been no political pressure applied. CPPIB chief executive Mark Machin says that the Toronto-based fund manager and its peers will likely take a ... Read More »

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Test 2:IGNORE

By The Canadian Press on June 11th, 2018

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Good hop, bad hop: Alberta’s craft beer subsidy plan tanked by trade panel

By Dean Bennett, The Canadian Press on June 11th, 2018

EDMONTON – Alberta’s subsidy plan to boost its own craft beer industry has been hammered again by a trade panel ruling. An appeal panel under the Agreement on Internal Trade has upheld an earlier decision that provincial grants to assist Alberta craft brewers are unfair and violate interprovincial free trade rules. “By tying the grant ... Read More »

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Trump’s auto tariffs would devastate supply chains, cause mass layoffs: experts

By Ross Marowits, The Canadian Press on June 11th, 2018

MONTREAL – U.S. President Donald Trump’s threat to impose 25 per cent tariffs on auto imports from Canada would devastate the integrated supply chain that has been built up over decades and also cause job losses on both sides of the border, industry experts warn. “It’s definitely going to impact the whole supply chain of ... Read More »

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Insurer must defend Bill Cosby defamation suits, court says

By The Associated Press on June 11th, 2018

BOSTON – A federal appeals court says an insurance company must pick up Bill Cosby’s tab to fight defamation lawsuits brought by women who accused him of sexual misconduct. But the ruling by the 1st U.S. Circuit Court of Appeals in Boston doesn’t mean the insurance company, AIG, must pay any damages. Cosby faces civil ... Read More »

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