Company releases, economic news, and business coverage.
TORONTO - Canada's communications companies need to continuously update their networks and that means they need a regulatory environment that creates incentives for investment, Rogers chief executive Joe Natale said Thursday.
"Our networks are a living, breathing organism. And they need constant growth and investment," Natale told shareholders of Rogers Communications Inc., owner of one of Canada's biggest wireless networks.
Canopy Growth Corp. has struck a deal to pay US$300-million for the right to buy U.S. cannabis company Acreage Holdings Inc. if cannabis production and sale becomes federally legal in the United States — which they anticipate could happen within the next year.
The deal, which if consummated would be valued at US$3.4 billion, is aimed at creating a "global cannabis powerhouse," the companies said Thursday, and would give Canopy a strong foothold in the massive, lucrative U.S. market.
OTTAWA - With Washington riveted to the Mueller report, a comprehensive economic assessment of the new North American free trade deal quietly emerged Thursday, predicting less-than-stellar economic gains for the United States.
Moreover, the much anticipated report of the U.S. International Trade Commission undercut the Trump administration's rationale for forcing a renegotiation of the North American Free Trade Agreement, said one leading Canadian trade lawyer.
Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,612.81, up 68.57 points).
OTTAWA - The federal government is putting off plans to pass judgment on the reconsidered Trans Mountain pipeline expansion proposal for nearly a month in order to finish its consultations with Indigenous groups, says Natural Resources Minister Amarjeet Sohi.
The deadline is being pushed back — from May 22 to June 18 — on the recommendation of Indigenous communities and former Supreme Court justice Frank Iacobucci, who is advising the government on the consultation process, Sohi said Thursday.
CALGARY - Lower discounts on western Canadian oil prices have swollen producer coffers in the first three months of the year, but analysts say they don't expect to see big increases in drilling budgets as companies report results over the coming weeks.
Cenovus Energy Inc. is set to unveil its first-quarter financial results on Wednesday, followed by fellow oilsands producers Husky Energy Inc. and Imperial Oil Ltd. at the end of next week.
NEW YORK - Amazon and Google are ending their nearly 2-year spat, agreeing to bring their video streaming apps to each other's devices.
Back in 2017, Google pulled its popular YouTube video app from Amazon's Fire TV after the online shopping giant refused to sell some Google products. Amazon has since started to sell Google's gadgets on its site.
HALIFAX - A Nova Scotia judge has temporarily extended QuadrigaCX's reprieve from its creditors, as the cryptocurrency exchange continues its transition into bankruptcy.
The Vancouver-based exchange officially entered bankruptcy proceedings this month, after a restructuring bid failed.
VANCOUVER - Canadian companies plan to serve up chicken, beef burgers and mouse-meat cat treats in the coming years, all without the need to slaughter a single animal.
Entrepreneurs see an opportunity where there's been a dearth of lab-grown meat startups that proliferated in the U.S.
OTTAWA - Statistics Canada says retail sales rose 0.8 per cent in February to $50.6 billion, the first increase since October.
Economists had expected an increase of 0.4 per cent, according to Thomson Reuters Eikon.