April 18th, 2019

Business

New U.S. trade report predicts modest economic gains from new NAFTA

By Mike Blanchfield, The Canadian Press on April 18th, 2019

OTTAWA – With Washington riveted to the Mueller report, a comprehensive economic assessment of the new North American free trade deal quietly emerged Thursday, predicting less-than-stellar economic gains for the United States. Moreover, the much anticipated report of the U.S. International Trade Commission undercut the Trump administration’s rationale for forcing a renegotiation of the North ... Read More »

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National Enquirer being sold to former newsstand mogul

By Bernard Condon, The Associated Press on April 18th, 2019

NEW YORK – The National Enquirer is being sold to the former head of the airport newsstand company Hudson News. Tabloid owner American Media says it is selling the supermarket weekly to James Cohen. The deal comes after a rocky year for the tabloid in which it was caught up in a federal probe of ... Read More »

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TSX closes at all-time high as it overcomes correction in late 2018

By The Canadian Press on April 18th, 2019

TORONTO – Canada’s main stock index closed at an all-time high as it overcame a correction late last year. The S&P/TSX composite index gained 68.57 points to 16,612.81, surpassing the previous record close of 16,567.47 set last July. In New York, the Dow Jones industrial average was up 110.00 points at 26,559.54. The S&P 500 ... Read More »

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U.S. Trade czar trumpets new NAFTA auto provisions amid skepticism

By The Canadian Press on April 18th, 2019

OTTAWA – The Trump administration is launching a new charm offensive to sell the merits of the new North American free trade pact to counter growing skepticism about the economic benefits of the deal. The U.S. Trade Representative says the new, yet-to-be-ratified deal will bring auto jobs back to the U.S. from Mexico. A new ... Read More »

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Canopy signs US$3.4B deal to buy N.Y.-based Acreage Holdings if pot legal in U.S.

By Armina Ligaya, The Canadian Press on April 18th, 2019

Canopy Growth Corp. has struck a deal to buy U.S. company Acreage Holdings Inc. for US$3.4 billion, buy only if cannabis becomes federally legal in the United States. The Smiths Falls, Ont.-based company on Thursday announced its plans to create a “global cannabis powerhouse” and outlined a complex transaction which would give Canopy a foothold ... Read More »

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Lower price discounts to boost Q1 oil profits but uncertainty hangs over sector

By The Canadian Press on April 18th, 2019

CALGARY – Lower discounts on western Canadian oil prices have swollen producer coffers in the first three months of the year, but analysts say they don’t expect to see increases in drilling budgets as oil and gas companies report results over the coming weeks. Cenovus Energy Inc. reports its first-quarter results on Wednesday, followed by ... Read More »

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Top 1% paid slightly more in taxes after Liberal changes, figures show

By The Canadian Press on April 18th, 2019

OTTAWA – New federal data suggest Canada’s highest earners paid a slightly greater share of the country’s overall income taxes following Liberal changes designed to make the top one per cent contribute more. The Liberals came to power in 2015 on a signature campaign pledge – dubbed the “middle class tax cut” – to lower ... Read More »

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Amazon and Google end spat, bring YouTube to Amazon devices

By The Associated Press on April 18th, 2019

NEW YORK – Amazon and Google are ending their nearly 2-year spat, agreeing to bring their video streaming apps to each other’s devices. Back in 2017, Google pulled its popular YouTube video app from Amazon’s Fire TV after the online shopping giant refused to sell some Google products. Amazon has since started to sell Google’s ... Read More »

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TSX hits all-time high on lift from health care, financials and industrials sectors

By The Canadian Press on April 18th, 2019

TORONTO – Canada’s main stock index hit an all-time high on strength in the health-care sector, which includes many of the country’s big cannabis companies, as well as gains in the financial and industrial sectors. The S&P/TSX composite index was up 22.70 points at 16,566.94 after hitting 16,597.37 in early trading. In New York, the ... Read More »

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Nova Scotia judge briefly extends creditor protection for Quadriga exchange

By The Canadian Press on April 18th, 2019

HALIFAX – A Nova Scotia judge has temporarily extended QuadrigaCX’s reprieve from its creditors, as the cryptocurrency exchange continues its transition into bankruptcy. The Vancouver-based exchange officially entered bankruptcy proceedings this month, after a restructuring bid failed. Quadriga Fintech Solutions Corp. and its related companies had been granted protection from their creditors under the Companies’ ... Read More »

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Rogers starts 2019 with slow Q1 wireless market; CEO expects pace to pick up

By David Paddon, The Canadian Press on April 18th, 2019

TORONTO – Rogers Communications Inc. and the wireless industry experienced an unusually slow first quarter, but the company is on track to meet its full-year estimates, chief executive Joe Natale said Thursday ahead of the company’s annual meeting. “Overall, we have confidence in our long-term growth plans, and remain on track to deliver on our ... Read More »

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