October 24th, 2020

Business

Trends that drove lumber prices to record highs will continue, Canfor CEO predicts

By Dan Healing, The Canadian Press on October 23rd, 2020

The work-from-home trend that drove lumber prices to record levels and helped producer Canfor Corp. realize record high revenues in the third quarter is expected to continue to provide benefits going forward, CEO Don Kayne says. The Vancouver-based company expects strong lumber prices to continue through the end of 2020 despite the recent softening it ... Read More »

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Canadian companies that have filed for creditor protection since COVID-19 pandemic

By The Canadian Press on October 23rd, 2020

TORONTO – A list of some of the companies that have taken steps under the Companies’ Creditors Arrangement Act or Bankruptcy and Insolvency Act since the beginning of the pandemic: Oct. 23: Le Chateau Inc. (apparel retailer) Sept. 14: Mountain Equipment Co-operative (outdoor recreation retailer MEC) Sept. 8: Groupe Dynamite (Garage and Dynamite apparel retailer) ... Read More »

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Veggie burgers are still burgers, at least in Europe

By The Associated Press on October 23rd, 2020

BRUSSELS – It’s a meaty issue but the EU has taken a stance: veggie burgers are in fact burgers. European lawmakers said Friday that plant-based products that do not contain meat, including veggie burgers, soy steaks and vegan sausages, can continue to be sold as such in restaurants and shops across the European Union’s 27 ... Read More »

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Trial of Russian in alleged bitcoin fraud to wrap in Paris

By Nicolas Vaux-Montagny, The Associated Press on October 23rd, 2020

PARIS – French prosecutors requested on Friday a 10-year jail term and a fine of 750,000 euros ($888,634) against Alexander Vinnik, who is accused of being behind a 135 million-euro ($160 million) fraud campaign that used ransomware and the cryptocurrency bitcoin. The 41-year-old Russian, who is also wanted in the United States and Russia, is ... Read More »

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Veggie burgers are still burgers, EU lawmakers rule

By The Associated Press on October 23rd, 2020

BRUSSELS – Plant-based products that do not contain meat can continue to be labeled “sausages” or “burgers,” European lawmakers said Friday, when they rejected a proposal back by the meat industry to ban the terms. In votes on issues relating to agricultural products, the European Parliament said that so-called veggie burgers, soy steaks and vegan ... Read More »

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Automaker Daimler rebounds after lockdowns, raises outlook

By David McHugh, The Associated Press on October 23rd, 2020

FRANKFURT – Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, saw third-quarter profit rebound as the company clamped down on costs and auto sales recovered after the coronavirus lockdowns of earlier in the year. The company raised its outlook for expected earnings. Highly profitable vehicles such as the GLA, GLB and GLS sport-utility ... Read More »

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

By The Canadian Press on October 23rd, 2020

TORONTO – Canada’s main stock index edged higher in late-morning trading, helped by gains in the financial sector, while U.S. stock markets were mixed. The S&P/TSX composite index was up 3.46 points at 16,282.82. In New York, the Dow Jones industrial average was down 4.21 points at 28,359.45. The S&P 500 index was up 5.06 ... Read More »

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Alberta to stop limits on oil production in December after nearly two years

By The Canadian Press on October 23rd, 2020

CALGARY – Alberta’s UCP government says it will end oil curtailment quotas in December, nearly two years after the previous NDP government introduced them to support oil prices. The province says it will extend its regulatory authority to continue the program for another year but doesn’t plan to use it after the end of November. ... Read More »

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S&P/TSX composite up in early trading, U.S. stock markets mixed; Loonie rises

By The Canadian Press on October 23rd, 2020

TORONTO – Gains in the financial and industrial sectors helped lift Canada’s main stock index in early trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 24.35 points at 16,303.71. In New York, the Dow Jones industrial average was up 48.87 points at 28,412.53. The S&P 500 index was up 8.94 ... Read More »

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Seth Rogen on fighting cannabis stigma and why pot should be as accepted as beer

By Tara Deschamps, The Canadian Press on October 23rd, 2020

TORONTO – When actor Seth Rogen was growing up and smoking cannabis in Vancouver, he recalls there was a constant cloud of shame around the substance that still lingers. “I smoke weed all day and every day and have for 20 years “¦ For me, it’s like glasses or shoes. It’s something I need to ... Read More »

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Clothing retailer Le Chateau files for CCAA protection, plans to close its doors

By The Canadian Press on October 23rd, 2020

MONTREAL – Le Chateau Inc. says it is seeking court protection from creditors to allow it to shut down and liquidate its assets. Le Chateau’s application under the Companies’ Creditors Arrangement Act will be heard today by a Quebec court. The clothing retailer says it can no longer continue its operations as a going concern. ... Read More »

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