April 17th, 2021

Business

US jobless claims plunge to 576,000, lowest since pandemic

By Christopher Rugaber, The Associated Press on April 15th, 2021

WASHINGTON – The number of Americans applying for unemployment benefits tumbled last week to 576,000, a post-COVID low and a hopeful sign that layoffs are easing as the economy recovers from the pandemic recession. The Labor Department said Thursday that applications plummeted by 193,000 from a revised 769,000 a week earlier. Jobless claims are now ... Read More »

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Canada’s telecom regulator to issue wireless industry ruling Thursday afternoon

By The Canadian Press on April 15th, 2021

TORONTO – Canada’s existing mobile phone services and consumer groups will get a landmark ruling from the CRTC this afternoon. The decision from the national telecom regulator has the potential to shift some of the market power held by Rogers, Bell and Telus, which collectively have more than 90 per cent of the country’s wireless ... Read More »

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Months after hack, US poised to announce sanctions on Russia

By Aamer Madhani And Eric Tucker, The Associated Press on April 14th, 2021

WASHINGTON – The Biden administration is preparing to announce sanctions in response to a massive Russian hacking campaign that breached vital federal agencies, as well as for election interference, a senior administration official said Wednesday night. The sanctions, foreshadowed for weeks by the administration, would represent the first retaliatory action announced against the Kremlin for ... Read More »

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Shaw Communications reports higher second-quarter revenue and earnings

By The Canadian Press on April 14th, 2021

CALGARY – Shaw Communications Inc. is reporting higher revenue and earnings for its latest fiscal quarter as its $26-billion deal to be sold to Rogers Communications Inc. continues to face federal and regulator scrutiny. The company says it had net income of $217 million on revenue of $1.387 billion in the three months ended Feb. ... Read More »

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Aphria shareholders vote in favour of merger, Tilray shareholders to vote Friday

By The Canadian Press on April 14th, 2021

LEAMINGTON, Ont. – Aphria Inc. shareholders have voted in favour of the cannabis company’s plan to merge with Tilray Inc. Leamington, Ont.-based Aphria did not immediately announce how many shareholders voted in favour of the deal, but said more than 65,000 shareholders and proxy voters were represented at the meeting. The vote follows Aphria and ... Read More »

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S&P/TSX composite slips despite energy sector jump; U.S. markets mixed

By The Canadian Press on April 14th, 2021

TORONTO – Energy sector strength amid rising oil prices proved insufficient to overcome broader market weakness and Canada’s main stock index closed lower on Wednesday. The S&P/TSX composite index fell 32.04 points to 19,171.66. Only two sectors were positive on the day, with energy gaining more than four per cent and materials up 0.56 per ... Read More »

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Aphria shareholders vote in favour of merger, Tilray shareholders to vote tomorrow

By The Canadian Press on April 14th, 2021

LEAMINGTON, Ont. – Aphria Inc. shareholders have voted in favour of the cannabis company’s plan to merge with Tilray Inc. Leamington, Ont.-based Aphria did not immediately announce how many shareholders voted in favour of the deal, but said more than 65,000 shareholders and proxy voters were represented at the meeting. The vote follows Aphria and ... Read More »

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S&P/TSX composite slips despite energy sector jump; U.S. markets close mixed

By The Canadian Press on April 14th, 2021

TORONTO – Strength in the energy sector as oil prices rose proved insufficient to overcome broader market weakness and Canada’s main stock index closed lower. The S&P/TSX composite index fell 32.04 points to 19,171.66. In New York, the Dow Jones industrial average gained 53.62 points at 33,730.89. The S&P 500 index was down 16.93 points ... Read More »

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Cogeco CEO eager to learn outcome of CRTC review of mobile wireless industry

By David Paddon, The Canadian Press on April 14th, 2021

TORONTO – The CEO of Cogeco Inc. and its internet and cable TV subsidiary said Wednesday that they are eager to learn whether Canada’s telecom regulator will grant approval for a type of wireless network that the Montreal-based company has championed for years. “It will encourage ongoing investments to expand and improve Canada’s wireless network, ... Read More »

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Five things about Canada’s proposed small modular nuclear reactors

By The Canadian Press on April 14th, 2021

OTTAWA – Alberta’s Jason Kenney became the fourth Canadian premier to sign an agreement supporting the development of small modular nuclear reactors (SMRs) in Canada on Wednesday. Kenney signed a memorandum of understanding with the premiers of Ontario, New Brunswick and Saskatchewan. The provinces also released a feasibility report prepared by Ontario Power Generation, Bruce ... Read More »

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