December 6th, 2021

Business

Alimentation Couche-Tard winding up dual-class share structure this week

By The Canadian Press on December 6th, 2021

LAVAL, Que. – Convenience store giant Alimentation Couche-Tard Inc. is winding up its dual-class share structure this week. The Quebec-based company will convert all of its outstanding class B shares to class A shares on a one-for-one basis as of Wednesday trading, earlier than previously indicated. A so-called sunset clause was put in place in ... Read More »

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Lululemon vs. Peloton: The fine line between inspiration and imitation in fashion

By Brett Bundale, The Canadian Press on December 6th, 2021

To the untrained eye, U.S. Design Patent No. D709,668 is just a sports bra. But the strappy undergarment is among six different design patents at the centre of a high-profile legal scuffle between athletic apparel retailer Lululemon Athletica Canada Inc. and exercise equipment company Peloton Interactive Inc. The former fitness clothing partners are going head-to-head ... Read More »

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Energy sector helps lead S&P/TSX composite higher, U.S. stock markets also rise

By The Canadian Press on December 6th, 2021

TORONTO – Gains in the energy sector helped lead a broad-based rally that boosted Canada’s main stock index nearly 200 points in late-morning trading, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 183.02 points at 20,816.29. In New York, the Dow Jones industrial average was up 602.23 points at 35,182.31. ... Read More »

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Fearing misuse, Israel tightens supervision of cyber exports

By The Associated Press on December 6th, 2021

JERUSALEM (AP) – Israel’s Defense Ministry on Monday announced that it was tightening supervision over cyber exports – a move that follows a series of scandals involving Israeli spyware company NSO Group. The ministry said the countries purchasing Israeli cyber technology would have to sign a declaration pledging to use the products “for the investigation ... Read More »

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Banks and insurance companies obtain court order to allow virtual AGMs in 2022

By The Canadian Press on December 6th, 2021

TORONTO – Canada’s big banks and insurance companies say they have obtained a court order that will allow them to hold their annual meetings next year as electronic-only or as hybrid meetings. The order was announced in a joint statement by BMO, CIBC, Canadian Western Bank, Laurentian Bank, National Bank, RBC, Scotiabank, TD Bank Group, ... Read More »

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CN trains rolling again after B.C. tracks repaired amid mounting backlogs

By The Canadian Press on December 6th, 2021

MONTREAL – Canadian National Railway Co. says trains are moving again in southern British Columbia after the third atmospheric river in two weeks descended on the region. CN says service resumed Sunday after crews worked around the clock on the Vancouver-Kamloops corridor, which was first cut by mudslides and washouts amid torrential rain in mid-November. ... Read More »

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Federal government says Canada border testing contracts worth up to $631 million

By The Canadian Press on December 6th, 2021

OTTAWA – The federal government has awarded three companies with contracts worth up to $631 million for COVID-19 border testing and other screening services. Public Services and Procurement Canada says Switch Health, LifeLabs and Dynacare are carrying out testing of international travellers entering Canada at airports and land border crossings. Department spokesman Gabriel Leboeuf says ... Read More »

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Dye & Durham buying Telus’ financial solutions business for $500 million

By The Canadian Press on December 6th, 2021

TORONTO – Dye & Durham Ltd. has signed a deal to buy Telus’ financial solutions business for $500 million. The financial solutions business provides a national payment infrastructure that helps people make payments online. The business also helps connect Canadian financial institutions with lawyers when doing residential real estate transactions. Dye & Durham chief executive ... Read More »

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Teck Resources says Q4 coal sales affected by rail disruptions in B.C.

By The Canadian Press on December 6th, 2021

VANCOUVER – Teck Resources Ltd. says its coal sales in the fourth quarter will be lower than it had earlier estimated due to the heavy rain, flooding and mudslides in B.C. that have disrupted the railways in the province. The company says it now forecasts its fourth-quarter steelmaking coal sales at 5.2 million to 5.7 ... Read More »

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Crescent Point Energy raises dividend and production guidance for 2022

By The Canadian Press on December 6th, 2021

CALGARY – Crescent Point Energy Corp. raised its quarterly dividend as it increased its production guidance for next year. The company says it will pay a quarterly dividend of 4.5 cents per share on April 1 to shareholders of record as of March 15, up from its fourth-quarter dividend of three cents. In addition to ... Read More »

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From bust to boom: N.L. oil workers finding new careers in province’s tech sector

By Sarah Smellie, The Canadian Press on December 6th, 2021

ST. JOHN’S, N.L. – Adam Lichter says he spent his last year in Newfoundland and Labrador’s oil industry teaching himself to code while working on a supply vessel in an oilfield about 350 kilometres off the coast of St. John’s. It was 2015, and he spent his days operating autonomous underwater vehicles in the Terra ... Read More »

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