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  • Experts warn of economic uncertainty until USMCA ratified as Dems cast doubts

    November 14, 2018 7:25 PM 6

    WASHINGTON—Democrats are calling for tweaks to Canada’s new trade pact with the United States and Mexico as experts warn that economic uncertainty will linger until the deal is ratified in Congress. New Jersey Rep. Bill Pascrell, the presumptive next head of the influential Ways and Means Trade subcommittee, is the latest member of the newly reconfigured

  • UBS hires bankers for new group courting pensions, wealth funds

    November 14, 2018 5:14 PM 6

    The Swiss bank hired former Wells Fargo & Co. bankers Grant Thompson and Sandra Godard as managing directors for a new group dubbed Alternative Capital Solutions, according to a memo sent Wednesday by Sam Kendall, UBS’s head of corporate client solutions in the Americas. Erica Chase, a UBS spokeswoman, confirmed the contents of the memo. Thompson, who is based

  • Pan American Silver buying Tahoe Resources in stock-and-cash deal

    November 14, 2018 3:15 PM 5

    VANCOUVER—Pan American Silver Corp. has signed a deal to acquire Tahoe Resources Inc. in a stock-and-cash deal it valued at more than $1 billion (U.S.). Under the friendly agreement, Tahoe shareholders will receive $3.40 in cash or 0.2403 Pan American shares for each Tahoe share. The maximum cash available under the offer is $275 million and there are 56 million

  • Calgary voters recommend city abandon potential 2026 Olympic bid

    November 14, 2018 12:55 PM 7

    Calgary voters’ rejection of the bid reflects concerns that hosting the games could impose runaway costs on a city already struggling because of a downturn in its bedrock energy industry. While oil prices have rebounded across most of the globe in the past few years, pipeline bottlenecks have weighed on Canadian crude. That has kept Calgary’s unemployment

  • Canada’s cannabis advantage going up in smoke as U.S. moves in

    November 14, 2018 12:47 PM 4

    Canadian companies still take the top three spots north of the border, though the biggest pot company by market value, Nanaimo, British Columbia-based Tilray Inc., is listed in the U.S. and has a market value of $10.4 billion (U.S.). Canadian companies took on a leadership position as Canada became the world’s first major economy to legalize pot for both recreational

  • Bombardier to weigh partnerships for regional jet program

    November 14, 2018 12:16 PM 7

    “We might look at partnering if it makes sense, but the primary focus right now is to strengthen the backlog so that we have a longer-term view,” CEO Alain Bellemare said Tuesday at a Scotiabank conference in Toronto. “Then maybe we can do some avionics upgrades and create more value for our customers. We’re going to try to make it work, and we’ll see where

  • Loblaw Q3 profit down from a year ago as tax court ruling hits bottom line

    November 14, 2018 12:08 PM 4

    Loblaw Companies Ltd. reported its third-quarter profit fell compared with a year ago as it was hit by a one-time charge related to a tax court ruling that it plans to appeal. The retailer says it earned a profit attributable to common shareholders of $106 million or 28 cents per share for the quarter ended Oct. 6. The quarter included a $367-million

  • Stelco reports earnings of $125 million in Q3 in sharp jump from last year

    November 14, 2018 11:50 AM 5

    Stelco Holdings Inc. says it earned $125 million in the third quarter for a sharp rebound from the $30-million loss it reported in the same quarter last year. The Hamilton-based steel producer says adjusted net income for the quarter ending Sept. 30 came to $135 million, or $1.52 per share, up from an $11 million or 15 cent per share loss for the same quarter

  • B.C.-based pot producer Tilray reports revenue surge, net loss

    November 13, 2018 9:48 PM 6

    NANAIMO, B.C.— B.C.-based cannabis producer Tilray reported an 85 per cent jump in quarterly revenue year-over-year to US$10 million, but a wider net loss during its third quarter. The Nanaimo-based company posted a quarterly net loss of US$18.7 million during the three months ended Sept. 30, compared to US$1.8 million in the third quarter of 2017. Analysts

  • BP deep water well off Nova Scotia lacks commercial quantities of oil: partner

    November 13, 2018 9:07 PM 7

    It is BP’s only well currently being drilled in the deep waters of the Scotian Shelf, an area about 330 kilometres from Halifax where the company holds multiple licences in waters over two kilometres deep. Environmental, fishing and Indigenous groups have repeatedly criticized the various drilling programs as lacking sufficient response systems for potential