Business News Summary Headlines

Company releases, economic news, and business coverage.

OSC approves management cease trade order at cannabis company CannTrust Holdings

VAUGHAN, Ont. - CannTrust Holdings Inc. says the Ontario Securities Commission has approved a management cease trade order as the cannabis producer works to deal with its regulatory problems with Health Canada.

The order by the securities regulator prohibits the directors and executive officers of the company from trading in CannTrust securities until two full business days after it makes all of its required filings.

Friday, August 16, 2019 | 10:40 AM

Flooding, a trade war and Deere cuts outlook again

Deere & Co. cut its profit expectations for the second time this year as beleaguered farmers and an escalating trade war with China cut into sales.

Widespread and heavy flooding severely delayed planting this year for thousands of farmers. In the 18 states that grow most of the nation's corn, only 58% of the crop had been planted by the last week of May, far from the 90% in a typical year. Less than half of the normal soybean crop had been planted in that same period, leaving many farmers to decide whether to plant at all.

Friday, August 16, 2019 | 09:40 AM

Cathay Pacific CEO resigns after Beijing pressure

HONG KONG - The CEO of Cathay Pacific Airways, one of Hong Kong's most prominent companies, resigned Friday following pressure by Beijing on the carrier over participation by some of its employees in anti-government protests.

Rupert Hogg became the highest-profile corporate casualty of official Chinese pressure on foreign and Hong Kong companies to support the ruling Communist Party's position against the protesters.

Friday, August 16, 2019 | 06:59 AM

Canopy Growth shares tumble on CEO exit plans, loss of market share

Canopy Growth Corp. shares fell to a 2019 low on Thursday after quarterly results suggested the cannabis producer lost market share and an announcement that its interim chief executive plans to leave the company, just weeks after his co-CEO was pushed out.

The Smiths Falls, Ont.-based company shares closed down $6.16 or 14.47 per cent at $36.41 on the Toronto Stock Exchange.

Friday, August 16, 2019 | 12:51 AM

Asian shares mixed amid ongoing worries about US-China trade

TOKYO - Asian shares were mixed Friday as turbulence continued on global markets amid ongoing worries about U.S.-China trade conflict.

Japan's benchmark Nikkei 225 recouped early losses to be up 0.3% at 20,456.96 in morning trading. Australia's S&P/ASX 200 inched down nearly 0.1% to 6,402.40, while South Korea's Kospi fell 0.8% to 1,923.56. Hong Kong's Hang Seng added 0.8% to 25,701.58. The Shanghai Composite gained 0.7% to 2,834.85.

Friday, August 16, 2019 | 12:37 AM

Worried about a recession? Protect yourself but don't panic

If the threat of a recession gives you pause when it comes to your personal finances, remember now is a time to prepare, not panic.

Worries about the economy increased this week when a fairly reliable recession warning emerged from the bond market. But without a crystal ball, it remains unclear when a recession might hit. Still, financial experts say people should consider taking certain steps that are beneficial in any economy but would aid households greatly in a downturn.

Friday, August 16, 2019 | 12:05 AM

CRTC lowers wholesale broadband rates to boost competition among providers

OTTAWA - Canada's telecoms regulator says it has lowered the rates for wholesale broadband access as it looks to increase competition among internet providers.

The lower rates announced by the CRTC Thursday means it will be cheaper for smaller internet providers to buy broadband capacity on the networks owned by the big telecom providers.

Thursday, August 15, 2019 | 06:33 PM

HBC says Catalyst declined a request to extend its offer for stake in retailer

TORONTO - The special committee of the board at Hudson's Bay Co. says Catalyst Capital Group Inc. has turned down a request to extend a deadline for its offer for a roughly 10.7 per cent stake in the retailer.

The bid by the investment firm, which is seeking to buy the shares in an effort to oppose a proposal to privatize the company, is set to expire on Friday.

Thursday, August 15, 2019 | 06:20 PM

Bank of Mexico lowers interest rate, citing global concerns

MEXICO CITY - Mexico's central bank said Thursday it was lowering its benchmark interest rate by a quarter-point to 8%, citing slowing global economic activity and tensions including the trade war between the United States and China.

The drop from 8.25% was reportedly the first rate cut by the Bank of Mexico in five years.

Thursday, August 15, 2019 | 05:47 PM

TSX rebounds from worst day of year but still closes lower on economic worries

TORONTO - Canada's main stock index rebounded from its worst day of the year but still closed at a five-month low Thursday amid continuing concerns about a global economic slowdown.

Markets have finally "sobered up" and are accepting that there is a global economic slowdown, said Kash Pashootan, CEO and chief investment officer at First Avenue Investment Counsel Inc.

Thursday, August 15, 2019 | 05:23 PM