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  • Lottery for Ontario retail cannabis licences to take place next week

    January 3, 2019 9:06 PM 114

    The Ontario government will accept entries next week from those looking to enter a lottery to apply for the first 25 retail cannabis licences in the province. The Alcohol and Gaming Commission of Ontario says expressions of interest can be submitted online Monday through noon Wednesday, with the draw to take place on Friday and results to be posted within

  • StatCan warns of impact on release of trade data from U.S. government shutdown

    January 3, 2019 5:34 PM 108

    U.S. imports from Canada reported to U.S. Customs and Border Protection are compiled by the U.S. Census Bureau and sent to Statistics Canada to be used as statistics for Canada’s exports to the United States. Data for November won’t be affected by the shutdown which started Dec. 22. However, future months could be affected because data for Canada’s exports

  • Canadian court slams Uber’s arbitration process

    January 3, 2019 4:33 PM 122

    “Uber drivers have a strong claim to be treated as employees,” said Mr. Heller’s lawyer Michael Wright. The question of whether contract workers should be treated as employees has roiled Silicon Valley for years. Having a flexible fleet of contract driver, delivery or repair workers has helped keep costs low for companies like Uber, Instacart Inc. and Amazon

  • Barrick’s new CEO says gold industry shake-up is just starting

    January 3, 2019 2:42 PM 135

    Barrick Gold Corp.’s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up. Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4 billion (U.S.) deal announced in September. As part of the agreement, Randgold’s CEO, Mark Bristow, became the chief executive of Barrick, the world’s biggest

  • We’re signing trade deals. Now, we have to use them

    January 2, 2019 9:36 PM 131

    Canadian exporters fixated on the U.S. market invoke the EU’s many languages (at least 47) and transportation issues as reasons for not vigorously tapping EU markets. And yet those same language “barriers” have not dissuaded Italian biscuit and French cheese exporters from ramping up their sales to Canada. And transportation challenges in an EU with an integrated

  • U.S. Gulf Coast refiners feast on cheap domestic oil

    January 1, 2019 6:49 PM 101

    Growing U.S. output has sent imports to a 3-year low, as domestic barrels are cheaper than imported ones. West Texas Intermediate, the U.S. benchmark oil, is being traded at a discount of $8.10 per barrel compared with Brent, the benchmark used to price imported oil. U.S. production has doubled in the past seven years to a record 11.537 million barrels

  • Canadian stocks close out worst year since 2008 with a gain

    December 31, 2018 9:52 PM 162

    Canadian stocks rose on the final trading day of the year but it wasn’t enough to prevent them from posting their worst annual performance since 2008. The S&P/TSX Composite Index gained 0.7 per cent to 14,322.86 on thin New Year’s Eve volume after U.S. President Donald Trump reported “big progress” in trade talks with China. The benchmark lost 5.8 per cent in December

  • Survey of manufacturing executives shows lower economic optimism for 2019

    December 31, 2018 6:12 PM 105

    A new survey shows business optimism for the year ahead among Canadian manufacturer executives is lower than it was a year ago as trade issues weigh. The survey, conducted by RK Insights, showed that 30 per cent of the 501 respondents were optimistic about business prospects for 2019, down from 44 per cent who were a year earlier. It showed that 18 per cent of the senior

  • Fuel thefts are an inside job, Mexican president says

    December 29, 2018 5:00 AM 128

    MEXICO CITY—The theft of $3 billion in fuel every year from Mexico’s state-run fuel depots and pipelines is an inside job, the country’s new president said Thursday. President Andres Manuel Lopez Obrador said thieves don’t just drill taps into government pipelines. He said company employees steal fuel and distribute it or help thieves by ensuring fuel continue

  • Prosecco’s bubble shows no sign of bursting

    December 28, 2018 3:54 PM 140

    ASOLO, ITALY—Prosecco, the fruity sparkling wine made in the northeastern hills of Italy is gaining in global popularity — and producers of Champagne, for so long the dominant bubbly wine, are taking note. Prosecco has become the bestselling sparkling wine in the world by volume, and experts say it is eroding the market share of Champagne, the French