Company releases, economic news, and business coverage.
OTTAWA - The Second Cup Ltd. says it is actively reviewing locations in Ontario for potential conversion to cannabis retail stores in light of policy changes in the province.
The company's announcement comes after Ontario's Progressive Conservative government said it would allow private retailers to sell recreational marijuana starting next April.
CALGARY - The Alberta Securities Commission has rejected a requested order to prevent American short seller Marc Cohodes from trading shares in or providing misleading information about Calgary-based Badger Daylighting Ltd.
In an oral decision released Wednesday afternoon, the provincial regulator said staff hadn't proved there was an urgent need for the interim order to control Cohodes' activity while a full investigation is undertaken.
CALGARY - A month after being ordered to pay $750,000 in fines related to a 2015 pipeline leak, Nexen Energy is reporting a spill of 270,000 litres from a different pipeline at the same northern Alberta project.
The Alberta Energy Regulator says in an email that Nexen, a subsidiary of state-owned China National Offshore Oil Co. Ltd. or CNOOC, reported the release of produced water from a pipeline at its Long Lake oilsands project about 55 kilometres southeast of Fort McMurray on Sunday.
TORONTO - Shopify is taking aim at weapons companies by banning the sale of some firearms and accessories on its platform.
The Ottawa-based e-commerce giant quietly made changes to its policies this week to keep merchants from using its technology to sell everything from semi-automatic firearms that accept detachable magazines to accessories including grenades, rocket launchers and flash and sound supressors.
TORONTO - Canada's main stock index dropped Wednesday along with U.S. markets as a currency crisis in Turkey and disappointing indicators from China have sparked global growth fears and sent commodities prices falling.
North American markets followed European and Asian markets down after Turkey imposed retaliatory tariffs against the United States as Turkey struggles with high inflation and debt levels that have punished the lira.
MONTREAL - Two French airline unions blasted Air France-KLM this week after reports the Franco-Dutch carrier will name an Air Canada executive as its new CEO.
Several French news outlets have reported Air Canada chief operating officer Ben Smith is poised to be placed in the pilot's seat at a board meeting Thursday.
Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,148.50, down 182.17 points)
TORONTO - When Dionne Laslo-Baker sought a bank loan to expand her burgeoning organic popsicle and freezies business in 2014, she was shocked by the patronizing feedback she says she received from a male banker.
"One of them said not only that they couldn't fund us, but, why am I bothering to do this?" she said. "I have a very successful husband, who makes a very good salary... Why are you kind of disrupting the peace?'"
TORONTO - Global alcohol giant Constellation Brands will invest $5 billion in Canopy Growth Corp. — the largest strategic investment in the cannabis space to date — which the marijuana producer says will help it scale up and fend off competition from established players in big pharma and booze who are hungrily eyeing the pot industry.
Canopy chief executive Bruce Linton called the infusion of capital "rocket fuel" for the Smiths Falls, Ont.-based licensed producer, enabling it to extend its global reach as more markets legalize cannabis around the world.
Customers of Metro Inc. should prepare themselves for higher prices as the Canadian grocery giant says it is facing pressure from suppliers to accept higher prices in light of the ongoing tariff dispute with the United States, its CEO said Wednesday.
"We're starting to get demands from some suppliers who are, whose products will be, affected by the new tariffs," Eric La Fleche said during a conference call with analysts Wednesday after the company released its third-quarter earnings report.