June 17th, 2019

Business

Hexo plans to enter 8 U.S. states in 2020 with CBD products

By The Canadian Press on June 13th, 2019

GATINEAU, Que. – Cannabis company Hexo Corp. says it plans to launch hemp-derived CBD products in eight U.S. states in 2020 under Truss, its joint venture with Molson Coors Brewing Co. Hexo says it has secured a supply of 60,000 kilograms of hemp for extraction of CBD, the non-impairing compound which can be derived from ... Read More »

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Statistics Canada reports key household debt ratio held steady in Q1

By The Canadian Press on June 13th, 2019

OTTAWA – Statistics Canada says the amount Canadians owe relative to their income held steady in the first quarter as debt and income grew at similar rates. The agency says on a seasonally adjusted basis household credit market debt as a proportion of household disposable income remained at 177.6 per cent. In other words, there ... Read More »

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HBC reports Q1 profit due to sale of Lord and Taylor New York building

By The Canadian Press on June 13th, 2019

TORONTO – Hudson’s Bay Co. reported a profit of $275 million in its latest quarter, boosted by the sale of its flagship Lord and Taylor building in New York. The retailer says the profit amounted to $1.15 per share for the quarter ended May 4 compared with a loss of $398 million or $2.17 per ... Read More »

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Discount retailer Dollarama reports Q1 profit and sales up from year ago

By The Canadian Press on June 13th, 2019

MONTREAL – Discount retailer Dollarama Inc. says it earned $103.5 million in its latest quarter, up from $101.5 million a year ago, as revenue grew by 9.5 per cent. The company says the profit amounted to 33 cents per diluted common share for the quarter ended May 5 compared with 31 cents per diluted common ... Read More »

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Tankers targeted near Strait of Hormuz amid Iran-US tensions

By Jon Gambrell, The Associated Press on June 13th, 2019

DUBAI, United Arab Emirates – Two oil tankers near the strategic Strait of Hormuz were reportedly attacked on Thursday, an assault that left one ablaze and adrift as sailors were evacuated from both vessels and the U.S. Navy rushed to assist amid heightened tensions between Washington and Tehran. In Iran, Supreme Leader Ayatollah Ali Khamenei ... Read More »

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B.C.’s dirty money strategy to be highlighted at meeting of ministers

By The Canadian Press on June 13th, 2019

VANCOUVER – British Columbia’s efforts to fight money laundering are expected to be front and centre today at a special meeting of federal cabinet ministers and their provincial counterparts to discuss national strategies for stemming the problem. The B.C. government says the meeting in Vancouver will highlight new legislative changes already underway in B.C. that ... Read More »

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San Francisco prosecutors turn to AI to reduce racial bias

By Jocelyn Gecker, The Associated Press on June 12th, 2019

SAN FRANCISCO – In a first-of-its kind experiment, San Francisco prosecutors are turning to artificial intelligence to reduce racial bias in the courts, adopting a system that strips certain identifying details from police reports and leaves only key facts to govern charging decisions. District Attorney George Gascon announced Wednesday that his office will begin using ... Read More »

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Walmart eliminates dedicated president role for Jet.com unit

By Anne D'Innocenzio, The Associated Press on June 12th, 2019

NEW YORK – Walmart is eliminating the position of president at its Jet.com subsidiary, which it acquired in 2016, as it further merges the rest of its team with its namesake online operations. As part of the changes, Jet.com’s president, Simon Belsham will leave in August. Strategy and management of Jet.com will fall under Kieran ... Read More »

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Quebec cannabis sales totalled $71 million in first year

By The Canadian Press on June 12th, 2019

MONTREAL – Quebec’s provincially operated cannabis shops made $71 million in sales in their first year and sold the most cannabis in the country in terms of dollars and volume, but they still posted a $4.9-million loss to be covered by the provincial government. The provincial cannabis corporation – known as the SQDC – said ... Read More »

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Lululemon Q1 earnings outpace analyst expectations, company ups 2019 guidance

By The Canadian Press on June 12th, 2019

VANCOUVER – Lululemon Athletica Inc.’s revenue rose 20 per cent during its most recent quarter, outpacing analyst expectations. The athleisure retailer says its net revenue for the first quarter totalled $782.3 million, up from $649.7 million in the same quarter the previous year. Analysts surveyed by Thomson Reuters Eikon expected $755.31 million for the quarter ... Read More »

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North American markets fall on China trade concerns, oil hits five-month low

By The Canadian Press on June 12th, 2019

TORONTO – North American stock markets fell midweek on heightened concerns about a trade deal with China and crude oil prices hitting their lowest level in nearly five months. The S&P/TSX composite index closed down 21.52 points to 16,227.24. In New York, the Dow Jones industrial average was down 43.68 points at 26,004.83. The S&P ... Read More »

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