June 26th, 2019

Business

BlackBerry reports Q1 revenue up in first full quarter with Cylance

By The Canadian Press on June 26th, 2019

WATERLOO, Ont. – BlackBerry Ltd. says it had a US$35-million loss with US$247 million of revenue in the first full quarter since it bought Cylance, which represents a new generation of technology for the company. The Waterloo, Ont.-based company acquired Cylance, a California-based artificial intelligence and cyber security company, in February for US$1.4 billion. BlackBerry, ... Read More »

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Corus reports $66.4M third-quarter profit, television ad revenue up

By The Canadian Press on June 26th, 2019

TORONTO – Corus Entertainment Inc. had a $66.4-million net profit attributable to shareholders in its latest quarter, as an increase in television advertising helped to boost revenue. The owner of the Global television network, specialty TV channels and radio stations said the profit amounted to 31 cents per diluted share for the quarter ended May ... Read More »

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Pea-based pants may be next frontier as Lululemon looks at crops for clothes

By Aleksandra Sagan, The Canadian Press on June 26th, 2019

VANCOUVER – Lululemon Athletica Inc. wants customers to have more pea in their yoga pants. The athleisure retailer presented the idea at Protein Industries Canada’s (PIC) pitch day Monday in a talk titled: Clothing the World with Crops, according to a photo of a PowerPoint slide. Lululemon’s pitch focused on using byproducts from pea processing ... Read More »

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Youth minimum wage rollbacks won’t apply at this year’s Calgary Stampede

By Lauren Krugel, The Canadian Press on June 26th, 2019

CALGARY – A rollback to Alberta’s minimum wage for young people won’t apply to those working at this year’s Calgary Stampede. The marquee 10-day celebration of cowboy culture kicks off on July 5. A new $13-per-hour minimum wage for workers aged 13 to 17 takes effect today. The old $15 rate, the highest in Canada, ... Read More »

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Fox’s Hannity, Carlson enjoy Trump rally ratings bonanza

By Lynn Elber, The Associated Press on June 25th, 2019

LOS ANGELES – Fox News hosts Sean Hannity and Tucker Carlson enjoyed a ratings surge from the channel’s solo extended coverage of President Donald Trump’s 2020 campaign kickoff. Viewers watching last week’s rally in Orlando, Florida, helped cable star “Hannity” earn a rare top 10 showing among both broadcast and cable programs with 5 million ... Read More »

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FedEx loses $2 billion, warns of headwinds in coming year

By David Koenig, The Associated Press on June 25th, 2019

DALLAS – FedEx Corp. posted weak quarterly results in its core express business and warned Tuesday that its profit in the year ahead will be hurt by slowing growth in the world economy and the decision to drop a contract with retail giant Amazon. The delivery company reported a quarterly loss of nearly $2 billion. ... Read More »

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Dried cannabis sales up 6 per cent in April, inventories rise 215,665 kilograms

By The Canadian Press on June 25th, 2019

OTTAWA – Heath Canada says sales of legal dried cannabis grew 16 per cent in April compared with the prior month. More than 8,800 kilograms of recreational and medical cannabis was sold in the month, up from 7,627 kilograms in March. Total cannabis oil sales grew 3.5 per cent to 8,196 litres. Almost 76 per ... Read More »

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Bombardier sells regional jet business to Mitsubishi as it narrows its focus

By Christopher Reynolds, The Canadian Press on June 25th, 2019

MONTREAL – Bombardier Inc. has reached a deal to sell its floundering regional jet program to Mitsubishi Heavy Industries Ltd. for US$550 million, cementing the plane-and-train maker’s departure from commercial aviation following a three-decade run. The definitive agreement paves the way for Bombardier to focus on its rail and business jet units, leaving it with ... Read More »

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Minnesota appeals court orders hearing on PolyMet permit

By Steve Karnowski, The Associated Press on June 25th, 2019

MINNEAPOLIS – A district court must determine if state environmental regulators improperly sought to suppress a federal agency’s serious concerns about the pollution risks arising from a proposed copper-nickel mine in northern Minnesota, the state Court of Appeals ruled Tuesday. The St. Paul-based Ramsey County District Court must hold a hearing “as soon as practicable” ... Read More »

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Stocks in Toronto and U.S. down on signal about smaller Fed rate cut

By The Canadian Press on June 25th, 2019

TORONTO – Canada’s main stock index posted a triple-digit decline and U.S. markets fell after the Federal Reserve signalled an interest rate cut next month could be smaller than forecast. The S&P/TSX composite index closed down 152.19 points to 16,371.28. In New York, the Dow Jones industrial average was down 179.32 points at 26,548.22. The ... Read More »

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