April 26th, 2018

Business

Canada gives border security extra money to crack down on cheap steel, aluminum

By The Canadian Press on April 26th, 2018

OTTAWA – The federal government is announcing $30 million in new money to crack down on companies that try to ship cheap foreign steel and aluminum through the Canadian market. The government announced last month it was taking the extra steps to investigate trade-related complaints involving steel and aluminum. The new, five-year spending commitment kicks ... Read More »

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Broad rally helped boost Toronto stocks, U.S. markets also gain ground

By The Canadian Press on April 26th, 2018

TORONTO – A broad-based rally helped Canada’s largest stock index to post a triple-digit gain in late-morning trading, while U.S. stock markets also pushed higher. The S&P/TSX composite index was up 119.12 points to 15,628.87, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 214.59 points to 24,021.48. The ... Read More »

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Loblaw shareholders to vote on union proposal for independent chair

By The Canadian Press on April 26th, 2018

TORONTO – Shareholders of Loblaw Companies Ltd. are being asked to vote on a proposal at their annual meeting this year to require the chair of the company be an independent director, a move the company opposes. Galen G. Weston serves as both chief executive and chairman of the board for the retailer. The proposal ... Read More »

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Engineering firm Stantec launches strategic review of water business

By The Canadian Press on April 26th, 2018

EDMONTON – Engineering firm Stantec Inc. says it has launched a strategic review of its water and wastewater contractor business. A strategic review is often used by companies considering the possible sale of a business. MWH Constructors, Stantec Treatment and Slayden provide construction and construction management services on mainly water-related projects. The company acquired Constructors ... Read More »

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Canada’s other contentious energy export sees strong growth potential

By Ian Bickis, The Canadian Press on April 26th, 2018

CALGARY – As Canada’s attention is increasingly focused on the polarizing oil exports debate, another contentious energy export has been quietly gaining momentum. The humble wood pellet, once used mostly for small-scale home heating, has graduated to an alternative to coal in the hungry power plants of Europe and Asia with the disputed promise of ... Read More »

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Life circumstances change. So should your will, estate experts say

By Dan Healing, The Canadian Press on April 26th, 2018

CALGARY – Estate planning expert Lynne Butler loves to tell the cautionary tale of a widow in her 80s who had six children and six real estate properties. When it came time for her to make her final wishes known, she sat at her desk and hand-wrote a will that bequeathed her home to the ... Read More »

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DavidsTea directors fight back against retail co-founder’s slate of nominees

By The Canadian Press on April 26th, 2018

MONTREAL – The board of DavidsTea is fighting back against a co-founder’s attempt to replace them with a dissident slate of nominees. In a statement today, the Montreal-based company says Herschel Segal is trying to gain control of the board without paying a premium by pushing the election of seven director nominees at its annual ... Read More »

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Precision Drilling reports $18M Q1 loss, increases capital spending plan

By The Canadian Press on April 26th, 2018

CALGARY – Precision Drilling Corp. says it lost nearly $18.1 million in its first quarter compared with a loss of $22.6 million in the same quarter a year earlier as revenue grew, boosted by its U.S. operations. Chief executive Kevin Neveu says as a result of increased demand in the U.S. the company is increasing ... Read More »

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Husky Energy reports Q1 profit up from year ago, lowers production guidance

By The Canadian Press on April 26th, 2018

CALGARY – Husky Energy Inc. reported a first-quarter profit of $248 million, up from $71 million a year ago, as it lowered its annual production guidance. The energy company says the profit amounted to 24 cents per share for the three months ended March 31, up from six cents per share a year ago. On ... Read More »

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Union that represents WestJet pilots calls for strike vote to press for contract

By The Canadian Press on April 25th, 2018

CALGARY – The union that represents pilots at WestJet has called for a strike vote to press its demand for its first contract. The Air Line Pilots Association says pilots began voting Wednesday and the balloting will continue for 15 days. The Calgary-based airline and its pilots have been in contract negotiations since September. A ... Read More »

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Aecon Group reports loss of $19.2 million, takeover deal still unresolved

By The Canadian Press on April 25th, 2018

TORONTO – Aecon Group Inc. says it’s focused on securing and completing projects while it continues to move forward with a proposed takeover by CCCC International Holding Ltd. The engineering firm says it booked $910 million in new contract awards in the quarter ending March 31, compared to $836 million for the same period last ... Read More »

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