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Hexo Corp. says it is in the process of destroying cannabis that was grown without a licence at a facility it acquired in Niagara, Ont., that was part of its purchase of Newstrike Brand Ltd.

The Quebec-based company said it discovered in July, soon after the Newstrike deal closed, that cannabis being grown in Block B of the UP cultivation facility was not licensed.

20 hours ago

Aurora Cannabis Inc. shares sank to a two-year low Friday after its revenues missed expectations and the pot producer announced it was halting construction at one production facility and pausing work at another to save more than $190 million in planned expenses.

The Edmonton-based company's shares fell to a low of $3.57 and closed down 79 cents or 18 per cent to $3.59 in trading on the Toronto Stock Exchange.

20 hours ago

WASHINGTON - New rules from the Trump administration on Friday would require insurers and hospitals to disclose upfront the actual prices for common tests and procedures to promote competition and push down costs.

But the sweeping changes face stiff pushback from the health care industry. A coalition of major hospital groups quickly announced that hospitals will sue to block key provisions, which in any case don’t take effect immediately.

20 hours ago

WASHINGTON - The Federal Reserve said Friday that corporate debt remains at historically high levels but overall the U.S. financial system is resilient, a view in sharp contrast to the problems that led to the 2008 financial crisis.

In its twice-yearly “Financial Stability Report,” the Fed said that the situation has changed little since its previous report in May. At that time, it highlighted concerns about companies’ high levels of outstanding debt — known as leveraged lending — that grew 20% last year.

20 hours ago