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  • Former CanniMed CEO launches new pot company, but won’t be growing weed

    January 7, 2019 5:16 PM 9

    The former chief executive of licensed producer CanniMed Therapeutics Inc. has a budding new cannabis business largely made up of his former employees — but his newest venture won’t involve growing pot. Brent Zettl says his biopharmaceutical company Zyus Life Sciences Inc. will instead buy cannabis from licensed producers and focus on extraction and development

  • Sears prepares for possible liquidation in the U.S. as ESL bid fails

    January 7, 2019 2:03 PM 8

    The storied retailer started laying the groundwork for a liquidation after Chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, people with knowledge of the matter said. Sears representatives summoned liquidation firms and other advisers to emergency meetings on Friday after rejecting Lampert’s

  • Vancouver’s first two licensed marijuana retailers open for business

    January 5, 2019 9:59 PM 11

    Both companies had to jump through extensive regulatory hoops, even as illegal retailers continue to operate across in the city. British Columbia has lagged behind other provinces in issuing non-medical cannabis retail licences, which must first be approved by the province, then referred to local governments or Indigenous communities for approval

  • Trump says he’s unconcerned about Apple’s China sales warning

    January 4, 2019 8:50 PM 10

    President Donald Trump said he isn’t concerned that Apple Inc. has warned sales will fall short of expectations because of the trade war with China, an announcement that provoked a sell-off in the U.S. stock market. “No, I’m not,” Trump said after he was asked at a White House news conference about Apple’s revenue warning this week. Trump claimed that Apple’s

  • Trade tensions prompt supply chain changes for firms in China

    January 4, 2019 7:52 PM 11

    On Wednesday afternoon, Apple Inc. cut guidance sending its stock down 10 per cent and the S&P 500 down 2.5 per cent. CEO Tim Cook, in a letter to investors, cited trade issues, “We believe the economic environment in China has been further impacted by rising trade tensions with the United States.” The following morning, Kevin Hassett, chairman of the U.S. Council

  • Filipino workers speak out against Halifax businessman in immigration fraud case

    January 4, 2019 6:23 PM 11

    The Crown is recommending a sentence of two years in prison, noting the need to deter “like-minded individuals” and to fully denounce the offences against temporary foreign workers. The case of immigration fraud appears to have divided the city’s Filipino community, with some expressing trepidation about speaking out. After meeting with Crown and defence

  • HBC stock climbs after exec. purchases about 18 million of the retailer’s shares

    January 4, 2019 3:40 PM 9

    Baker and Rupert of the Rhine already have a large stake in the company and the purchased shares represent about 9.76 per cent of the issued or outstanding common shares on a non-diluted basis. The purchase caused HBC's stock to climb to $8.52 and comes a month after HBC announced it had a third-quarter net loss of $164 million or 69 cents per share

  • Canada’s unemployment rate sticks at 43-year low of 5.6%; weak wage growth persists

    January 4, 2019 1:47 PM 10

    OTTAWA—The unemployment rate stayed at its 43-year low of 5.6 per cent last month as the economy closed out 2018 with the addition of 9,300 net new jobs, Statistics Canada said Friday. For the second straight month, the jobless rate was at its lowest level since Statistics Canada started measuring comparable data in January 1976. Economists had expected

  • Apple bombshell shakes financial markets to the core

    January 3, 2019 11:22 PM 8

    While Apple’s stunning announcement this week shook financial markets, its cause could shake the Canadian economy. As one of the world’s biggest tech companies announced Wednesday it was lowering its profit estimates, Apple CEO Tim Cook suggested a slowing Chinese economy — resulting in lower iPhone sales — was largely to blame. Stock markets around

  • Idaho joins Washington state in denying Hydro One’s takeover of Avista Corp

    January 3, 2019 11:05 PM 9

    The Idaho commission, like its Washington counterpart, raised concerns that the Ontario government, which owns 47 per cent of Hydro One’s shares, might meddle in Avista’s operations. It pointed to Ontario Premier Doug Ford’s move to force former Hydro One CEO Mayo Schmidt to retire, which was followed by the resignation of the entire 14-member board