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  • BP scales back exploration plans off N.S., gives up half its offshore area

    January 15, 2019 4:04 PM 217

    HALIFAX - BP Canada is scaling back its oil and gas exploration plans off Nova Scotia, giving up half the offshore area included in its exploration licence. The Canada-Nova Scotia Offshore Petroleum Board says the energy giant is surrendering 50 per cent of the area included in its licence — a consolidation of four offshore parcels roughly 300 kilometres

  • Tilray, U.S. brand group partner on cannabis-infused retail products

    January 15, 2019 11:00 AM 150

    Tilray says it will receive up to 49 per cent of the net revenue from these products bearing names from ABG’s portfolio of more than 50 brands, with a guaranteed minimum payment of up to US$10 million annually for 10 years. Under the deal, Tilray would be the preferred supplier of active cannabinoid ingredients, such as CBD and THC, for ABG’s cannabis

  • TSX up slightly, US stock markets move lower in late-morning trading; Loonie down

    January 14, 2019 9:57 PM 122

    Canada’s main stock index inched forward Monday, while major indices south of the border fell slightly during a relatively flat day for the markets. “The real headliner was the data we got out of China,” said Craig Fehr, a Canadian markets strategist for Edward Jones. China reported that its exports fell last month. Chinese exports to America fell 3.5 per cent to US$40.3 billion

  • Marijuana producer Canopy Growth granted hemp licence in New York

    January 14, 2019 9:16 PM 120

    Cannabis products with higher levels of tetrahydrocannabinol, or THC, remain listed as restricted drugs by the U.S. federal government. Canopy says it will source hemp exclusively from U.S. farmers for its U.S. operations once up and running. Canopy Growth says it’s in the process of evaluating a number of sites that will become one of its first extraction

  • Air Canada and Jazz parent extend agreement, securing regional airline’s future

    January 14, 2019 5:13 PM 135

    Chorus says the agreement, announced Monday, will grow its revenues by $940 million for a contracted total of $2.5 billion in aircraft leasing and fixed fees over the next 17 years. The deal also amends a 2015 agreement by lowering the fixed fees and incentive revenue Chorus receives by about $50 million annually. Under the new contract, Air Canada will make an equity

  • Newmont Mining to buy Goldcorp to create one of world’s biggest gold producers

    January 14, 2019 11:39 AM 132

    VANCOUVER - Denver-based Newmont Mining Corp. and Goldcorp Inc. of Vancouver have agreed to combine their gold companies in a deal worth about US$10 billion. The companies announced today that Newmont will exchange 0.328 of a share and two cents for each of Goldcorp’s outstanding common shares. The deal has the unanimous support of the directors of both companies

  • Ontario premier to meet with GM, other automakers and union president in Detroit

    January 14, 2019 9:00 AM 129

    DETROIT - A spokeswoman for Ontario’s premier says Doug Ford will use a trip to a Detroit auto show to meet with executives from General Motors and several other automakers today. Ivana Yelich says Ford will not try to push GM to reconsider shuttering its plant in Oshawa at year’s end when he meets with them at the North American International Auto Show. She says the company

  • Ghosn’s wife slams Japan detention as ‘draconian’ in letter

    January 14, 2019 2:11 AM 64

    TOKYO—The wife of Nissan’s former chairman Carlos Ghosn has written a letter to Human Rights Watch, a global advocacy group, criticizing her husband’s long detention and Japan’s criminal justice system as unfair and harsh. “My husband’s is a case study in the realities of this draconian system,” Carole Ghosn wrote in a nine-page letter Monday to the Tokyo

  • Department of Finance launches open banking consultation

    January 11, 2019 9:54 PM 70

    Ottawa has officially launched its consultation on open banking, a framework which would allow consumers and businesses to permit third parties such as fintechs to access their financial data to provide innovative services. The Department of Finance on Friday published a consultation paper outlining the pros and cons of open banking, and invited the public

  • ‘Smarter’ rules will ensure all digital players pay for CanCon, panel told

    January 11, 2019 4:55 PM 67

    OTTAWA - Canada’s broadcast regulator, and its public broadcaster, want federal lawmakers to ensure Netflix, YouTube and Amazon Prime pay a share for producing Canadian content. In written submissions to a government panel this week, both the CRTC and the Canadian Broadcasting Corporation also call on Ottawa to create new rules that encourage news content