Business
Cannabis company Canopy Growth says chief executive David Klein to retire next year
By The Canadian Press on August 16th, 2024
SMITHS FALLS, Ont. – Canopy Growth Corp. says chief executive David Klein is retiring next year. The cannabis company says Klein will call it quits at the end of the company’s current financial year on March 31, 2025. Until then or once a successor is named, he is expected to continue in his role as ... Read More »
Be the first to comment!New Brunswick’s Point Lepreau nuclear power plant down until mid-November
By The Canadian Press on August 16th, 2024
ST. JOHN’S, N.L. – New Brunswick’s electrical utility says its Point Lepreau nuclear generating station will remain off-line until at least mid-November. The station has been down since April. 6, while N.B. Power carried out a planned 100-day maintenance outage. In a news release Thursday, the utility says that during startup a “critical issue” related ... Read More »
Be the first to comment!Stock market today: Wall Street gives back some of its gains as its rally loses momentum
By The Associated Press on August 16th, 2024
NEW YORK (AP) – Stocks are giving back some of their big gains from earlier in the week as Wall Street’s rally loses some steam. The S&P 500 was 0.3% lower early Friday and on track for its first drop in seven days. The Dow Jones Industrial Average was off 69 points, or 0.2%, and ... Read More »
Be the first to comment!Statistics Canada says manufacturing sales down 2.1% in June at $69.6B
By The Canadian Press on August 16th, 2024
OTTAWA – Statistics Canada says manufacturing sales fell 2.1 per cent to $69.6 billion in June, as sales for the transportation equipment, chemical product and primary metal subsectors moved lower. Overall, the agency says sales were down in 17 of the 21 subsectors. Sales in the transportation equipment subsector dropped 2.9 per cent to $11.0 ... Read More »
Be the first to comment!CMHC says annual pace of housing starts in July up 16% from June
By The Canadian Press on August 16th, 2024
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in July climbed 16 per cent compared with June. The national housing agency says the seasonally adjusted annual rate of housing starts in Canada for July was 279,509 units, up from 241,643 in June. The increase came as the annual pace ... Read More »
Be the first to comment!CBSA to use facial recognition app for people facing deportation: documents
By Anja Karadeglija, The Canadian Press on August 16th, 2024
OTTAWA – The Canada Border Services Agency plans to implement an app that uses facial recognition technology to keep track of people who have been ordered to be deported from the country. The mobile reporting app would use biometrics to confirm a person’s identity and record their location data when they use the app to ... Read More »
Be the first to comment!Green energy projects eye underground salt caverns as key to hydrogen storage
By Amanda Stephenson, The Canadian Press on August 16th, 2024
Triple Point Resources Ltd. CEO Julie Lemieux wants people to understand the sheer size of the Fischell Salt Dome, a geological formation on Newfoundland’s west coast she says could play a key role in the green energy transition. The dome is a thick mound or column of naturally occurring salt deposits, surrounded by layers of ... Read More »
Be the first to comment!Harris zeroes in on high food and housing prices as inflation plays a big role in the campaign
By Zeke Miller, The Associated Press on August 15th, 2024
WASHINGTON (AP) – Vice President Kamala Harris is zeroing in on high food and housing prices as her campaign previews an economic policy speech Friday in North Carolina, promising to push for a federal ban on price gouging on groceries and laying out plans to cut other costs as she looks to address one of ... Read More »
Be the first to comment!Tenant advocate decries ruling that let B.C. landlord hike rent 27% after rates rose
By Darryl Greer, The Canadian Press on August 15th, 2024
VANCOUVER – Lawyer Rob Patterson says the phones at B.C.’s Tenant Resource and Advisory Centre never stop ringing – but he worries a decision allowing a landlord to impose a 27 per cent rent increase will fuel even more demand for its services. Patterson, a legal advocate with the centre, said a regulation allowing landlords ... Read More »
Be the first to comment!TC Energy completes sale of Portland Natural Gas Transmission System
By The Canadian Press on August 15th, 2024
CALGARY – TC Energy Corp. says it and its partner have successfully completed the sale of Portland Natural Gas Transmission System. Earlier this year, the companies announced they were selling the U.S. pipeline for US$1.14 billion to a BlackRock fund and investment funds managed by Morgan Stanley Infrastructure Partners. The partner, Northern New England Investment ... Read More »
Be the first to comment!S&P/TSX composite up 1.2%, U.S. markets also climb after promising economic data
By Rosa Saba, The Canadian Press on August 15th, 2024
TORONTO – Canada’s main stock index gained 1.2 per cent Thursday in a broad-based rally, while U.S. markets also soared to trade near recent record highs. Markets rose in a broad-based rally on both sides of the border, led by gains in tech with the Nasdaq up 2.3 per cent. In New York, the Dow ... Read More »
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