IMF cuts forecast for 2019 growth in Canada, world

The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising U.S. interest rates. The IMF said Monday that it expects global growth this year of 3.5 per cent, down from 3.7 per cent in 2018 and from the 3.7 per cent it had forecast for […]

Stock exchanges opt for lottery to award POT ticker symbol to some lucky company

Canadian stock exchanges have decided to award the rights to use the “POT” ticker symbol via a lottery, after a deluge of requests for the marijuana-related moniker. After what the exchanges call “significant interest” in using the symbol, the Canadian Securities Exchange, the Toronto Stock Exchange, the TSX Venture Exchange, and the Aequitas Exchange have jointly […]

Newmont Mining to buy Goldcorp in huge gold merger

Newmont Mining Corp. has signed an agreement to acquire Canadian miner Goldcorp Inc. in a deal it valued at about $10 billion US. The companies announced Monday that Newmont will exchange 0.328 of a share and two cents in cash for each of Goldcorp’s outstanding common shares. The combined company will be called Newmont Goldcorp […]

Preparing for the worst: Britons stockpile food in case Brexit causes shortages

With canned vegetables, tuna, beans, pasta and sauces, Jo Elgarf’s cupboards are packed. There’s no room left. “It’s just my insurance policy in case everything goes wrong,” she said in her home in suburban London. Elgarf has been buying extra groceries since last June, fearing Britain will leave the European Union in a disorderly fashion, […]

Use cash to buy legal cannabis if you’re worried about privacy, watchdog says

Canada’s privacy watchdog is warning marijuana users to pay with cash rather than plastic if they’re worried about the collection of their personal information, among other guidelines published on Tuesday. In a statement posted on his website, Privacy Commissioner Daniel Therrien says pot sellers and buyers need to better understand their privacy rights and obligations […]

Couche-Tard to swap U.S. convenience stores and gas stations with CrossAmerica

Alimentation Couche-Tard Inc. and CrossAmerica Partners LP have signed a deal to swap convenience and gas station assets in the United States. Under the agreement, Couche-Tard has agreed to sell 192 U.S. convenience and fuel retail stores to CrossAmerica, with an aggregate value of about $184.5 million US. Meanwhile, CrossAmerica has agreed to sell to […]

Some hard truths for Western politicians on Quebec, equalization and oil

It’s been open season on the Quebec government since it was revealed the province will be getting a $1.4-billion boost in its equalization payment next year. Western politicians in particular have cried foul. Saskatchewan Premier Scott Moe called Quebec’s allotment “problematic” in an interview with The Globe and Mail. Alberta’s finance minister, Joe Ceci, said it was […]

Trump’s ‘tariff man’ talk spooks investors, sends stock markets plunging

Stock markets fell precipitously on Tuesday as weekend optimism that the U.S. and China could de-escalate their trade war fell by the wayside. The Dow Jones Industrial Average fell more than three per cent, or 799 points, to 25,027. The broader S&P 500 fared even worse, losing 88 points to close just above 2,700. And the technology-heavy Nasdaq was […]

Layoffs begin in beleaguered oilpatch as companies brace for spending cuts

Canada’s oilfield services sector — a bellwether for the state of the oilpatch — is beginning to see job losses as the impact of steep discounts on Alberta oil ripple through the sector. Trican Well Service, according to the Financial Post, laid off 70 of its 2,200 employees this week, pointing to an anticipated slowdown in activity next year due to lower energy […]