Business
Former CFO suing RBC for $49 million in wrongful dismissal claim
By The Canadian Press on August 12th, 2024
TORONTO – The former chief financial officer for Royal Bank of Canada is suing the bank for almost $50 million over claims of wrongful dismissal. RBC announced on April 5 it had fired Nadine Ahn after an internal review found evidence she was in an “undisclosed close personal relationship” with another employee who received preferential ... Read More »
Be the first to comment!S&P/TSX composite up as energy stocks rise, U.S. stock markets mixed
By The Canadian Press on August 12th, 2024
TORONTO – Canada’s main stock index was up in late-morning trading, helped by strength in the energy sector as the price of oil also climbed higher. The S&P/TSX composite index was up 76.22 points at 22,387.52. In New York, the Dow Jones industrial average was down 141.13 points at 39,356.41. The S&P 500 index was ... Read More »
Be the first to comment!Stock market today: Wall Street is steady ahead of big tests coming later in the week
By Elaine Kurtenbach And Matt Ott, The Associated Press on August 12th, 2024
NEW YORK (AP) – Wall Street is holding relatively steady, as markets around the world stabilize following a wild week. The S&P 500 was up 0.3% in early trading Monday. The Dow Jones Industrial Average rose 58 points, or 0.1%, and the Nasdaq composite was up 0.4%. European and Asian markets were also relatively quiet. ... Read More »
Be the first to comment!Gold Fields signs deal for Osisko Mining, will consolidate Windfall project ownership
By The Canadian Press on August 12th, 2024
TORONTO – Gold Fields Ltd. has signed a deal to buy Osisko Mining Inc. in an agreement valued at about $2.16 billion that will see the company consolidate its ownership of the Windfall project in Quebec. Under the proposal, Gold Fields will pay $4.90 per share in cash for Osisko. Shares in Osisko closed at ... Read More »
Be the first to comment!Tourmaline signs deal to buy Crew Energy, raises quarterly base dividend
By The Canadian Press on August 12th, 2024
CALGARY – Tourmaline Oil Corp. has signed a deal to buy natural gas producer Crew Energy Inc. in an agreement valued at $1.3 billion, including debt. Under the plan, Crew shareholders will receive 0.114802 of a Tourmaline Share in exchange for each Crew Share held. Crew holds assets in the B.C. Montney region. The deal ... Read More »
Be the first to comment!Barrick Gold reports US$370M Q2 profit, up from US$305M a year ago
By The Canadian Press on August 12th, 2024
TORONTO – Barrick Gold Corp. reported its second-quarter profit rose compared with a year ago, helped by higher gold and copper prices. The miner, which keeps its books in U.S. dollars, says it earned US$370 million or 21 cents US per diluted share for the quarter ended June 30, up from US$305 million or 17 ... Read More »
Be the first to comment!Scotiabank signs agreement to buy 14.9 per cent stake in KeyCorp
By The Canadian Press on August 12th, 2024
TORONTO – Scotiabank has signed a deal to buy a minority stake in U.S. bank KeyCorp. The Canadian bank will pay a total of about US$2.8 billion for a 14.9 per cent take in the company in two stages. Under the agreement, Scotiabank will acquire its stake through the issuance of a total of 163 ... Read More »
Be the first to comment!Manitoba has beefed up efforts to fight retail theft, retailers hope for more
By Steve Lambert, The Canadian Press on August 12th, 2024
WINNIPEG – Manitoba’s recent efforts to curb retail theft are working, by many accounts, and some businesses are hoping for more permanent changes. Winnipeg police warned last December of a sharp rise in retail theft – sometimes involving violence – and boosted officer presence in retail areas. In May, the provincial government announced it would ... Read More »
Be the first to comment!From farm to table: How extreme weather affects prices along the food supply chain
By Rosa Saba, The Canadian Press on August 12th, 2024
Extreme weather events like fires, floods, heat waves and droughts pose an increasing risk to Canada’s food supply chain, putting pressure on prices all the way to the grocery store shelf, say experts. “Anytime you have major weather-related events, it tends to increase costs,” said Frank Scali, vice-president of industry affairs at Food, Health & ... Read More »
Be the first to comment!Chinese mining firm subsidiary disputes Ottawa’s review of Peruvian gold mine deal
By Darryl Greer, The Canadian Press on August 11th, 2024
A subsidiary of a Chinese state-owned mining firm says Canada is wrongly considering a national security review in its agreement to purchase a gold and copper mine in Peru. In May, Vancouver-based Pan American Silver Corp. announced an agreement worth almost US$300 million to sell its stake in Peru’s La Arena gold mine to Jinteng ... Read More »
Be the first to comment!‘On the brink’: Airlines flee small cities, cutting key links to rest of the country
By Christopher Reynolds, The Canadian Press on August 11th, 2024
MONTREAL – From his office overlooking the runway at Gander International Airport, Reg Wright can see all flights in and out of his corner of Newfoundland. But in recent years, those plane spottings have been fewer and farther between. “In Newfoundland, we have a saying called the fisherman’s widow, which is typically anyone that keeps ... Read More »
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