December 9th, 2018

Business

Aurora Cannabis to supply medical pot to Mexico through partnership

By The Canadian Press on December 7th, 2018

EDMONTON – Aurora Cannabis says it will supply medical cannabis to Mexico through a partnership with pharmaceutical manufacturer and distributor Farmacias Magistrales. Farmacias recently got the green light to import cannabis, which Aurora says is the first and only import license granted by federal Mexican authorities to date. Aurora’s chief executive Terry Booth says the ... Read More »

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Meng Wanzhou’s rise through the ranks at Huawei

By Mae Anderson, The Associated Press on December 7th, 2018

NEW YORK – Before her dramatic arrest in Canada, few in the U.S. had heard of Meng Wanzhou. Meng, 46, is chief financial officer and deputy chairwoman of the board of Chinese telecom company Huawei. She now faces extradition to the U.S., reportedly on charges of trying to evade U.S. sanctions on Iran. She will ... Read More »

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Meng Whanzou’s rise through the ranks at Huawei

By Mae Anderson, The Associated Press on December 7th, 2018

NEW YORK – Before her dramatic arrest in Canada, few in the U.S. had heard of Meng Wanzhou. Meng is chief financial officer and deputy chairwoman of the board of Chinese telecom company Huawei. The 46-year-old woman now faces extradition to the U.S., reportedly on charges of trying to evade U.S. sanctions on Iran. Meng ... Read More »

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China retaliation against Canadian companies unlikely for now: experts

By Aleksandra Sagan, The Canadian Press on December 7th, 2018

VANCOUVER – Fears of retaliation against China-based staff of Canadian companies in the wake of a Chinese tech exec’s arrest in Canada are overblown at the moment, but experts say that could change if the situation escalates. Meng Wanzhou, CFO of Chinese telecom giant Huawei Technologies, was arrested at Vancouver’s airport while in transit on ... Read More »

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Oil producers join forces and cut production again

By Anthony Mills, Kiyoko Metzler And David Rising, The Associated Press on December 7th, 2018

VIENNA – Oil prices spiked sharply higher Friday as major oil producers, including the OPEC cartel, agreed to cut global oil production by 1.2 million barrels a day to reduce oversupply. Following two days of meetings, the Organization of the Petroleum Exporting Countries that includes the likes of Saudi Arabia and Iraq said they would ... Read More »

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Chinese executive facing US extradition to appear in court

By Jim Morris, Rob Gillies And Paul Wiseman, The Associated Press on December 7th, 2018

VANCOUVER – A Chinese telecommunications executive will appear in court Friday to seek bail, the latest development in a surprising legal wrangle that raises doubts about whether a U.S.-China trade cease-fire can hold. The arrest of Meng Wanzhou, chief financial officer of the Chinese telecom giant Huawei, came as a jarring surprise after Presidents Donald ... Read More »

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U.S.-China trade war distracting from talks with Canada on steel tariffs: Morneau

By The Canadian Press on December 7th, 2018

MONTREAL – Finance Minister Bill Morneau says the ongoing U.S.-China trade dispute is distracting from talks aimed at solving the steel tariffs issue between Canada and its largest trading partner. At an event in Montreal Friday, Morneau said the Americans’ Pacific trade row puts “multiple challenges on their plate,” making it tough for Ottawa to ... Read More »

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‘Gangbusters’ data bump jobless rate to 40-year low, but wage growth slows again

By Andy Blatchford, The Canadian Press on December 7th, 2018

OTTAWA – A blast of new jobs last month knocked the country’s unemployment rate down to its lowest level since Statistics Canada started measuring comparable data more than 40 years ago – but despite eye-catching progress, Friday’s numbers also delivered disappointment. Canada added 94,100 net jobs for its largest monthly increase since March 2012 when ... Read More »

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Junior oil firms cutting dividends, output as prices remain ’embarrassingly low’

By The Canadian Press on December 7th, 2018

CALGARY – A pair of junior Calgary oil companies are cutting payouts to shareholders and reducing production because of current steep discounts on western Canadian oil prices. Both Cardinal Energy Ltd. and Granite Oil Corp. say they can’t afford to wait and see if production cuts imposed by the Alberta government starting Jan. 1 will ... Read More »

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Supremex cuts 41 jobs from Canadian envelope workforce in cost-reduction measure

By The Canadian Press on December 7th, 2018

MONTREAL – Supremex Inc. is cutting 41 employees at its Canadian envelope manufacturing operations in a cost-saving measure as it diversifies its business to include more packaging products. The company, headquartered in the Montreal community of LaSalle, says the cuts affect eight per cent of its Canadian envelope workforce. It currently operates 12 facilities across ... Read More »

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Toronto stock index shows modest rebound as energy, cannabis shares lift

By The Canadian Press on December 7th, 2018

TORONTO – Canada’s main stock index was up moderately Friday morning, with energy and cannabis companies providing some of the lift. The S&P/TSX composite index was up 45.37 points at 14,956.14, after declining nearly 246 points on Thursday to the lowest close in five weeks. In New York, the Dow Jones industrial average was down ... Read More »

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