July 12th, 2024

Business

S&P/TSX composite up in late-morning trading, U.S. stock markets also higher

By The Canadian Press on November 7th, 2022

TORONTO – Canada’s main stock index was up in late-morning trading, helped by gains in the energy and technology sectors, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 86.93 points at 19,536.74. In New York, the Dow Jones industrial average was up 213.94 points at 32,617.16. The S&P 500 index ... Read More »

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Canada’s farmers need tech, investment to cut carbon emissions: report

By The Canadian Press on November 7th, 2022

A new report by RBC says Canada’s agriculture sector needs to increase food production while also investing in sustainability to reduce emissions. The report in collaboration with the BCG Centre for Canada’s Future and the University of Guelph’s Arrell Food Institute says Canada needs to increase its food production by a quarter by 2050 just ... Read More »

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Gold Fields stands by offer to buy Yamana Gold despite rival takeover bid

By The Canadian Press on November 7th, 2022

TORONTO – Gold Fields Ltd. is standing by its offer to buy Yamana Gold Inc. in the face of a rival offer for the gold miner by Pan American Silver Corp. and Agnico Eagle Mines Ltd. The company says it believes its offer for Yamana remains strategically and financially superior. Gold Fields has offered 0.6 ... Read More »

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Cannabis company Tilray to buy New York brewer Montauk Brewing Company

By The Canadian Press on November 7th, 2022

NEW YORK – Tilray Brands Inc. has acquired Montauk Brewing Company in a bid to expand its U.S. alcohol division. The cannabis company says the acquisition of the New York brewer will be accretive to Tilray’s adjusted EBITDA, but did not disclose the terms of the deal. Montauk Brewing Company has more than 6,400 distribution ... Read More »

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Presidential push: Biden, Obama, Trump stump before Tuesday’s midterm elections

By The Canadian Press on November 7th, 2022

WASHINGTON – Presidents past and present are making one final push as the 2022 U.S. midterm election campaigns finally approach the finish line. Joe Biden and Barack Obama reunited the 2008 Democratic ticket over the weekend in Pennsylvania, down the road from where Donald Trump was teasing a 2024 comeback bid. Trump has another rally ... Read More »

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GIC and Dream Industrial REIT form JV to buy Summit Industrial Income REIT

By The Canadian Press on November 7th, 2022

TORONTO – A Singaporean sovereign wealth fund and Dream Industrial REIT have formed a joint venture to buy Summit Industrial Income REIT in a deal valued at $5.9 billion, including assumed debt. Summit holds a portfolio of light industrial properties in markets across Canada. Under the agreement, GIC and Dream Industrial REIT will pay $23.50 ... Read More »

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Turquoise Hill delays shareholder vote on Rio Tinto plan to take company private

By The Canadian Press on November 7th, 2022

TORONTO – Turquoise Hill Resources Ltd. is delaying a shareholder vote on Rio Tinto’s plan to take the company private. The company says Rio Tinto asked for the postponement of the vote that was set to take place Wednesday at the request of the Quebec securities regulator. The shareholder meeting is now set for Nov. ... Read More »

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Ritchie Bros. Auctioneers buying IAA in deal worth US$7.3 billion, including debt

By The Canadian Press on November 7th, 2022

VANCOUVER – Ritchie Bros. Auctioneers Inc. says it has signed a deal to acquire U.S. company IAA Inc. in a transaction valued at about US$7.3 billion including the assumption of US$1.0 billion of net debt. Under the terms of the agreement, IAA shareholders will receive US$10 in cash and 0.5804 of a Ritchie Bros. common ... Read More »

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Public hearing begins on Rogers’ $26-billion proposed takeover of Shaw

By The Canadian Press on November 7th, 2022

OTTAWA – The Competition Tribunal’s public hearing on Rogers Communications Inc.’s $26-billion proposed takeover of Shaw Communications Inc. begins today as the telecom companies look to take the deal across the finish line. The hearing will aim to resolve the impasse between the Commissioner of Competition and Rogers and Shaw, and comes after weeks of ... Read More »

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Musk threatens to boot Twitter account impersonators

By Frank Bajak, The Associated Press on November 6th, 2022

BOSTON (AP) – Elon Musk tweeted Sunday that Twitter will permanently suspend any account on the social media platform that impersonates another. The platform’s new owner issued the warning after some celebrities changed their Twitter display names – not their account names – and tweeted as “˜Elon Musk’ in reaction to the billionaire’s decision to ... Read More »

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Canadian banks readying for carbon offsets to go big, even as doubts remain

By Ian Bickis, The Canadian Press on November 6th, 2022

TORONTO – Banks know a growth market when they see it, and they’re increasingly seeing one in the buying, selling and generating of carbon offsets. The concept of paying a few bucks when, say, buying a flight, to have the carbon emissions “cancelled out” by a project elsewhere is decades old, but with corporate net-zero ... Read More »

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