August 19th, 2019

Business

Canopy Growth executives compensation surges following cannabis legalization

By The Canadian Press on August 16th, 2019

SMITHS FALLS, Ont. – Canopy Growth Corp. executives have struck it rich as their total compensation surged to $28.5 million last year including the first months since cannabis was legalized in October. Nearly 90 per cent of the payout to the six top officials was in the form of option-based awards, the Smiths Falls, Ont., ... Read More »

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Oilsands firms considering diluent recovery units to boost crude-by-rail volumes

By The Canadian Press on August 16th, 2019

CALGARY – Ongoing pipeline project delays and growth in crude-by-rail capacity from Western Canada are leading some oilsands producers to consider spending billions of dollars to build diluent recovery units. Oilsands bitumen is a thick, sticky oil which must be diluted with about half as much light petroleum to flow in a pipeline, but diluent ... Read More »

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North American stock markets trade higher at end of wild week for investors

By The Canadian Press on August 16th, 2019

TORONTO – Canada’s main stock index posted a triple-digit advance in late-morning trading at the end of a roller-coaster of a week for stock markets that has seen investors taken for a wild ride. The S&P/TSX composite index was up 125.67 points at 16,138.20. In New York, the Dow Jones industrial average was up 280.49 ... Read More »

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Flooding, a trade war and Deere cuts outlook again

By Michelle Chapman, The Associated Press on August 16th, 2019

Deere & Co. cut its profit expectations for the second time this year as beleaguered farmers and an escalating trade war with China cut into sales. Widespread and heavy flooding severely delayed planting this year for thousands of farmers. In the 18 states that grow most of the nation’s corn, only 58% of the crop ... Read More »

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OSC approves management cease trade order at cannabis company CannTrust Holdings

By The Canadian Press on August 16th, 2019

VAUGHAN, Ont. – CannTrust Holdings Inc. says the Ontario Securities Commission has approved a management cease trade order as the cannabis producer works to deal with its regulatory problems with Health Canada. The order by the securities regulator prohibits the directors and executive officers of the company from trading in CannTrust securities until two full ... Read More »

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Cathay Pacific CEO resigns after Beijing pressure

By The Associated Press on August 16th, 2019

HONG KONG – The CEO of Cathay Pacific Airways has resigned following pressure by Beijing on the Hong Kong carrier over participation by some of its employees in anti-government protests. Cathay Pacific said Rupert Hogg resigned Friday “to take responsibility” following “recent events.” The company chairman, John Slosar, said in a statement the airline needed ... Read More »

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Asian shares mixed amid ongoing worries about US-China trade

By Yuri Kageyama, The Associated Press on August 15th, 2019

TOKYO – Asian shares were mixed Friday as turbulence continued on global markets amid ongoing worries about U.S.-China trade conflict. Japan’s benchmark Nikkei 225 recouped early losses to be up 0.3% at 20,456.96 in morning trading. Australia’s S&P/ASX 200 inched down nearly 0.1% to 6,402.40, while South Korea’s Kospi fell 0.8% to 1,923.56. Hong Kong’s ... Read More »

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Worried about a recession? Protect yourself but don’t panic

By Sarah Skidmore Sell, The Associated Press on August 15th, 2019

If the threat of a recession gives you pause when it comes to your personal finances, remember now is a time to prepare, not panic. Worries about the economy increased this week when a fairly reliable recession warning emerged from the bond market. But without a crystal ball, it remains unclear when a recession might ... Read More »

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Bank of Mexico lowers interest rate, citing global concerns

By The Associated Press on August 15th, 2019

MEXICO CITY – Mexico’s central bank said Thursday it was lowering its benchmark interest rate by a quarter-point to 8%, citing slowing global economic activity and tensions including the trade war between the United States and China. The drop from 8.25% was reportedly the first rate cut by the Bank of Mexico in five years. ... Read More »

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Federal appeal court greenlights airlines’ challenge to passenger bill of rights

By The Canadian Press on August 15th, 2019

OTTAWA – The Federal Court of Appeal has agreed to hear airlines’ legal challenge to Canada’s new passenger bill of rights. The appeal, which aims to quash rules that beef up compensation for travellers subjected to delayed flights and damaged luggage, was filed last month by Air Canada and Porter Airlines Inc. along with 15 ... Read More »

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US stock indexes end mostly higher after volatile day

By Stan Choe And Alex Veiga, The Associated Press on August 15th, 2019

Investors rode out another turbulent day on Wall Street Thursday that kept stock indexes flipping between gains and losses until a late-day bounce gave the market a modest gain. Worries about a possible recession collided with hopes that the strongest part of the U.S. economy – shoppers spending at stores and online – can keep ... Read More »

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