Business
BHP, Lundin Mining to buy Filo for $4.5 billion, form joint venture for projects
By The Canadian Press on July 30th, 2024
VANCOUVER – BHP and Lundin Mining Corp. have signed a $4.5 billion deal to acquire all of the shares they don’t already own in exploration company Filo Corp. The deal will see Australia-based BHP and Vancouver-headquartered Lundin pay $33 per share, a 12.2 per cent premium on Filo’s Thursday closing price. Shareholders of Filo, a ... Read More »
Be the first to comment!Average data breach costs Canadian organizations $6.32 million: IBM study
By Tara Deschamps, The Canadian Press on July 30th, 2024
Canadian organizations embroiled in data breaches wind up paying an average $6.32 million to resolve the incidents, a new study from IBM says. That total is down from 2023, when Canadian organizations were paying an average $6.94 million, and from 2022, when the average was $7.05 million, said the study, which was released Tuesday. “There’s ... Read More »
Be the first to comment!Europe’s growth lags U.S. again, as Germany remains the eurozone’s economic problem child
By David Mchugh, The Associated Press on July 30th, 2024
FRANKFURT, Germany (AP) – Europe’s economy enjoyed modest growth in the April-June quarter even as the U.S. outperformed expectations, highlighting a persistent transatlantic growth gap with Germany, the leading European economy, remaining in the dumps and as hesitant consumers save more, rather than spend on new houses or cars. Gross domestic product, the total output ... Read More »
Be the first to comment!Sale of Atlantic Canada’s biggest newspaper chain could reduce local content: expert
By Michael MacDonald, The Canadian Press on July 30th, 2024
HALIFAX – An expert who tracks Canada’s mainstream media industry says Postmedia’s pending purchase of Atlantic Canada’s largest newspaper chain is almost certain to result in job cuts and a reduction in local content. April Lindgren, a journalism professor with Toronto Metropolitan University, says Postmedia Network Inc. has also made a habit of closing unprofitable ... Read More »
Be the first to comment!Tilray Brands sees revenues rise; boosted by alcoholic beverage sales
By The Canadian Press on July 29th, 2024
LEAMINGTON, ONT. – Cannabis and beverage company Tilray Brands, Inc. says it lost US$15.4 million in its fiscal fourth quarter, a US$104.4-million improvement from a year earlier when it lost US$119.8 million in the same period. The company, which has headquarters in New York and Leamington, Ont., says its net loss for the three months ... Read More »
Be the first to comment!Trans Mountain Corp. to have new CEO as Farrell moves to board chair role
By The Canadian Press on July 29th, 2024
CALGARY – Trans Mountain Corp. says CEO Dawn Farrell will become chair of the company’s board Sept. 1. The Crown corporation, which operates Canada’s only crude oil pipeline system from Alberta to the West Coast, says current board chair Bill Downe is retiring after six years in the role. Trans Mountain says it is undertaking ... Read More »
Be the first to comment!WestJet, Air North announce deal for single-ticket travel involving both airlines
By The Canadian Press on July 29th, 2024
WHITEHORSE – WestJet and Whitehorse-based Air North have announced a new agreement that will allow single-ticket travel across both airlines’ networks. A statement from WestJet says the new “interline agreement” allows passengers to book a single ticket with a connected itinerary between WestJet’s network and the Yukon and Northwest Territories. It says that means there ... Read More »
Be the first to comment!S&P/TSX composite down, U.S. markets mixed at close of trading Monday
By The Canadian Press on July 29th, 2024
TORONTO – Canada’s main stock index dipped on Monday, dragged down by losses in the energy and tech sectors while U.S. markets were mixed. The S&P/TSX composite index was down 35.24 points at 22,779.57. In New York, the Dow Jones industrial average was down 49.41 points at 40,539.93. The S&P 500 index was up 4.44 ... Read More »
Be the first to comment!Stock market today: Wall Street drifts, and crude oil slides ahead of a frenetic week
By Stan Choe, The Associated Press on July 29th, 2024
NEW YORK (AP) – U.S. stock indexes drifted to a mixed close ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates. The S&P 500 rose 0.1% Monday, coming off its first back-to-back weekly losses since April. The Dow Jones Industrial Average slipped ... Read More »
Be the first to comment!Two dead in crash of ‘homebuilt amphibious’ plane near Merritt, B.C.
By The Canadian Press on July 29th, 2024
MERRITT, BRITISH COLUMBIA – Police say two people are dead after an amateur-built plane crashed north of the Merritt, B.C. airport, about 270 kilometres northeast of Vancouver. Merritt RCMP say emergency personnel responded to a report of the crash on Sunday evening and found the pilot and passenger had died. The Mounties describe the two-seat ... Read More »
Be the first to comment!Competition watchdog launches airline industry study amid ‘cost and quality’ concerns
By The Canadian Press on July 29th, 2024
GATINEAU, Que. – The Competition Bureau says it is launching its market study of domestic airline service as concerns around prices and quality persist. Competition commissioner Matthew Boswell says “many Canadians are frustrated by the cost and quality” of air travel in Canada, and that he aims to put forward recommendations on how to improve ... Read More »
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