House speaker asks Trump to delay State of the Union speech amid government shutdown

The U.S. economy is taking a larger-than-expected hit from the partial government shutdown, White House estimates show, as contractors and even the coast guard go without pay, and talks to end the impasse seem stalled. The longest such shutdown in U.S. history has dragged into its 26th day with neither President Donald Trump nor Democratic congressional […]

California utility, battered and blamed in wildfires, filing for bankruptcy protection

Pacific Gas and Electric said it plans to file for bankruptcy protection amid potentially massive liabilities resulting from the deadly California wildfires. The announcement Monday follows the resignation of the company’s chief executive, Geisha Williams, a day earlier. John Simon, the company’ general counsel since 2017, will serve as interim chief executive. Officials are investigating whether […]

Canada, U.K. in ‘informal talks’ on trade ahead of key Brexit vote

The United Kingdom’s high commissioner to Canada says informal talks that could lead to a U.K.-Canada free trade deal in as little as a year are underway — which could ease the economic uncertainty surrounding her country’s fraught debate over when and how it will exit the European Union. A key vote on Brexit will be held in […]

Statistics Canada reports manufacturing sales down 0.1% in October

Statistics Canada says manufacturing sales fell 0.1 per cent in October to $58.2 billion, a weaker report than economists expected. The decline came as sales in the wood product and primary metal industries fell, offset in part by higher sales in the food and machinery industries. Economists had expected an increase of 0.4 per cent, […]

Marlboro maker places $2.4 billion bet on Canadian marijuana company

One of the world’s biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in. Marlboro maker Altria Group Inc. is taking a 45 per cent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday. Altria will pay another $1.4 billion for warrants that if exercised would give the […]

Bank of Canada holds key interest rate steady at 1.75%

The Bank of Canada has decided to keep its benchmark interest rate right where it is while it digests the impact of its previous policy decisions and the cooling economy. The central bank revealed Wednesday it will keep its benchmark interest rate — known as the target for the overnight rate — at 1.75 per cent. […]

Cannabis producer Aphria stock plunges for 2nd day as company rebuts short seller’s fraud allegations

Shares in Canadian cannabis company Aphria Inc. plunged for the second day in a row on Tuesday as the company fought back against allegations from a short seller that its recent slew of overseas takeovers are worthless and designed only to enrich company insiders. The company’s shares on the TSX closed down 27 per cent on […]

BC Hydro puts out welcome mat for bitcoin miners, but experts urge caution

In the last year, cryptocurrency firms have talked about adding as much as 5,000 megawatts to BC Hydro’s electrical load. That’s about 40 per cent of the power it currently generates, and four times the maximum capacity of the yet-to-be-completed Site C dam. Just a tiny fraction of that business has materialized so far, but […]