December 9th, 2018

Business

NewsAlert: Altria investing $2.4B in Cronos cannabis producer

By The Canadian Press on December 7th, 2018

Canadian cannabis producer Cronos Group says it will receive a $2.4 billion equity investment from Altria Group, one of the biggest tobacco companies in the world. The maker of Marlboro cigarettes would acquire a 45 per cent ownership stake in Cronos under the initial investment. Altria can also invest up to a further $1.4 billion ... Read More »

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Call centre abruptly closes in Cape Breton, leaving hundreds without work

By The Canadian Press on December 7th, 2018

SYDNEY, N.S. – More than 600 people have lost their jobs after a call centre in Cape Breton abruptly closed, leaving employees without work weeks before Christmas. ServiCom officials gathered workers at the operation in Sydney on Thursday to announce that it was shuttering the facility. Cecil Clarke, mayor of the Cape Breton Regional Municipality, ... Read More »

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World shares gain amid calm over US-China trade row

By Yuri Kageyama, The Associated Press on December 7th, 2018

TOKYO – Shares rebounded in Europe and Asia on Friday as worries over U.S.-China trade friction were calmed by conciliatory comments from Beijing. KEEPING SCORE: Germany’s DAX climbed 0.7 per cent to 10,884.39 and the CAC 40 in France advanced 1.3 per cent to 4,840.54. Britain’s FTSE 100 jumped 1.6 per cent to 6,809.58. The ... Read More »

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First ministers’ meeting likely to be most fractious, least productive for PM

By Joan Bryden, The Canadian Press on December 7th, 2018

MONTREAL – By the time he wraps up his day-long talk fest with provincial and territorial leaders, Prime Minister Justin Trudeau may well rue the day he promised to hold first ministers’ meetings annually. Friday’s closed-door gathering is Trudeau’s fourth summit with premiers and promises to be the most turbulent – and likely the least ... Read More »

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Asian shares rise on Wall Street gains amid trade friction

By Yuri Kageyama, The Associated Press on December 6th, 2018

TOKYO – Asian shares were mostly higher Friday after gains on Wall Street but investors continued to watch for news about U.S.-China trade friction. KEEPING SCORE: Japan’s benchmark Nikkei 225 added 0.1 per cent to 21,524.02, and Australia’s S&P/ASX 200 gained 0.5 per cent to 5,685.50 in early trading. South Korea’s Kospi rose 0.1 per ... Read More »

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Huawei arrest in Canada adds new wrinkle to fraught China-U.S. trade relations

By James McCarten, The Canadian Press on December 6th, 2018

WASHINGTON – If trade ties between China and the United States had a Facebook page, this week’s relationship status would surely read, “It’s complicated.” Even more so now: Investors, barely over the market-roiling mixed messages out of last weekend’s supposed tariff detente between President Donald Trump and Chinese counterpart Xi Jinping, fretted anew Thursday at ... Read More »

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Aphria shares rise 51% as board names committee to review short-sellers’ claims

By The Canadian Press on December 6th, 2018

LEAMINGTON, Ont. – Shares of cannabis producer Aphria Inc. recouped some of their losses as its board of directors appointed a special committee to review the company’s acquisitions in Colombia, Argentina and Jamaica, which have been criticized by short-sellers. The Leamington, Ont.-based company’s board said it still has “confidence” in the deal, but in the ... Read More »

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US stocks claw back from an early plunge on Fed report

By Alex Veiga, The Associated Press on December 6th, 2018

U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market’s gains for the year. An early plunge briefly knocked more than 700 points off the Dow Jones Industrial Average as the arrest of a senior Chinese technology executive threatened to cause another flare-up ... Read More »

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Hydro One shares jump 5.7 per cent after U.S. regulators reject $6.7B takeover

By The Canadian Press on December 6th, 2018

TORONTO – Opposition politicians may not like it but investors are applauding the rejection of Hydro One’s $6.7-billion takeover of U.S.-based utility Avista Corp. Shares in the power company controlled by the Ontario government closed at $21.53, up $1.16 or 5.7 per cent, on the Toronto Stock Exchange on Thursday. On Wednesday, Washington State regulators ... Read More »

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Manitoba premier promises economic development plan, new cabinet committee

By Steve Lambert, The Canadian Press on December 6th, 2018

WINNIPEG – Manitoba’s Progressive Conservative government is setting up a new cabinet committee and provincial office to focus on economic development, and is looking to retool a key tax break for property development. The measures are part of an economic development plan released by Premier Brian Pallister, who delivered his annual state of the province ... Read More »

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Markets partially recover after sinking on lower crude and trade worries

By The Canadian Press on December 6th, 2018

TORONTO – North American stock markets recovered from deep losses amid falling oil prices and worries that the arrest of a senior executive at Chinese telecom equipment maker Huawei could derail progress in China-U.S. trade talks. The S&P/TSX composite index closed down 1.6 per cent, losing 245.64 points to 14,937. In New York, the Dow ... Read More »

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