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  • Chairman, director of medical marijuana producer Maricann resign amid OSC investigation

    February 28, 2018 4:42 PM 21

    Maricann also says its underwriters are not prepared to go ahead with a $70-million financing. Medical cannabis company Maricann Group Inc.’s chairman and a board director have stepped down and its recent $70 million financing is in limbo as Canada’s biggest securities regulator conducts a review of certain trades by its directors. The announcements

  • Laurentian Bank mortgage probe continues, price tag expands

    February 28, 2018 2:53 PM 45

    Laurentian Bank says it expects to finish its review of problematic loans sold to an unnamed lender by the fiscal second quarter, and will fix or repurchase any mortgages that failed to meet the proper criteria. In January, Laurentian upwardly revised that amount to $392 million and said it had repurchased $180 million in loans, with another $88 million

  • Toys ‘R’ Us reportedly in talks to sell Asian business

    February 27, 2018 6:04 PM 21

    The U.S. chain is in talks to off-load its 85-per-cent stake in the Asian venture to Hong Kong’s billionaire Fung brothers. HONG KONG— Toys “R” Us Inc., the retailer that filed for bankruptcy in North America, is in talks to sell its growing Asian business to its local partner, people with knowledge of the matter said. The U.S. chain is in discussions

  • Shoppers Drug Mart signs marijuana supply deal with Aurora Cannabis

    February 27, 2018 4:38 PM 19

    Medical marijuana expected to be sold online, as current regulations prohibit sale in pharmacy location Licensed producer Aurora Cannabis has signed a deal to supply medical marijuana to Shoppers Drug Mart. The agreement is subject to Health Canada's approval of the pharmacy chain's application to dispense medical cannabis. Aurora's products are expected

  • Instant Pot warns of overheating in one of its multicooker models

    February 26, 2018 7:58 PM 19

    The company has asked consumers who bought certain batches of its Gem 65 model to stop using the appliance. OTTAWA—Instant Pot says customers who bought certain batches of one of its multicookers should stop using it immediately after some malfunction reports. The Ottawa-based company says on its Facebook page that its received a small number of reports

  • MEC pressured to drop brands owned by U.S. gun manufacturer

    February 26, 2018 5:06 PM 21

    MEC doesn’t sell firearms, but does stock items made by Vista Outdoor, which makes a gun similar to the one used in the recent Florida shooting. VANCOUVER—Mountain Equipment Co-op says it will be meeting today to discuss future plans for several well-known outdoor brands owned by major U.S. ammunition and gun manufacturer Vista Outdoor Inc. MEC has been facing

  • More evidence of fraud in Canadian mortgages, warns ratings agency S&P

    February 26, 2018 4:43 PM 35

    S&P raised its economic risk rating for the Canadian banking sector by 1 point S&P Global Ratings says it expects more evidence of Canadian residential mortgage fraud could emerge amid high household debt and home prices. The ratings agency raised its economic risk rating for the Canadian banking sector to three from two on a 10-point scale. S&P said it believes

  • U.S. appeals court restores lawsuit naming RBC that alleges Libor interest rate manipulation

    February 23, 2018 9:37 PM 21

    NEW YORK—A U.S. appeals court has ruled in favour of Charles Schwab Corp. and several of its mutual funds, giving new life to their lawsuits alleging 16 financial institutions including Royal Bank of Canada conspired to manipulate the benchmark Libor interest rate. The 2nd U.S. Circuit Court of Appeals in Manhattan disagreed with portions of a lower

  • TD Bank halts allowing customers to use credit cards to buy cryptocurrency

    February 23, 2018 9:20 PM 32

    The decision follows moves by several U.S. banks The value of Bitcoin soared last year, trading for more than $20,000 per Bitcoin. (Benoit Tessier/Reuters) Toronto-Dominion Bank is halting the use of its credit cards to buy cryptocurrency as it conducts a review of the "evolving market." The recent decision follows moves by several U.S. banks to stop allowing

  • Auto sales to dip in most provinces, led by Ontario's 3.1% drop, Scotiabank says

    February 23, 2018 3:36 PM 22

    Pullback would end five-year growth string that included a record high 2.04 million vehicles sold in 2017 ​Canadian sales of cars and light trucks this year are expected to dip from last year's all-time high, mostly because of weaker economic conditions in Ontario, Scotiabank said Friday in a report. The bank's automotive outlook projected that 2018 could