Royal Bank cuts 5-year fixed mortgage rate, others likely to follow suit

Canada’s biggest bank has cut its five-year fixed-term mortgage rate, a move that other banks are likely to try to match in short order. Royal Bank edged the rate on its five-year “special offer” mortgage down to  3.74 per cent, a cut of 0.15 percentage points. Though subtle, the move is likely to prompt similar actions […]

Aurora Cannabis buying Whistler Medical Marijuana in deal worth up to $175M

Aurora Cannabis Inc. has signed a deal to buy Whistler Medical Marijuana Corp. in an all-stock deal worth up to $175 million, including certain milestone payments. Edmonton-based Aurora says the acquisition of the privately held company is expected to provide it with a suite of premium and organic certified products. Whistler operates two indoor licensed […]

Jane Philpott tapped to fill Treasury Board cabinet vacancy

Indigenous Services Minister Jane Philpott has been chosen to fill the cabinet vacancy as president of the Treasury Board, CBC News has learned. Prime Minister Justin Trudeau will shake up his cabinet Monday morning, likely the last change before Canadians head to polls later this year.  Liberal sources also said Veterans Affairs Minister Seamus O’Regan would be moved to replace […]

Lockout at one of Canada’s largest smelters drags into 2nd year, with no end in sight

A Discount mini-bus, escorted by several security guards, edges toward the makeshift checkpoint that guards the lone road in and out of the sprawling ABI aluminum smelter in Bécancour, Que. The bus’s path is blocked by a dozen picketers, who cup their hands to the tinted windows and try to identify the obscured figures inside. “There were scabs in there, […]

Husky trims capital spending plan for 2019 to $3.4B

Husky Energy Inc. says it plans to spend approximately $3.4 billion on its capital expenditure program next year. The energy company says the total is about $300 million less than it forecast earlier this year and includes spending cuts resulting from Alberta’s mandated oil production cuts and lower global oil prices. The Alberta government has […]

Huawei CFO Meng Wanzhou wanted in U.S. for fraud, bail hearing told

A top Chinese telecommunications executive is wanted for extradition from Vancouver to the U.S. on allegations of fraud, including using a shell company to skirt international American sanctions over five years, a bail hearing has heard. Crown counsel said Meng Wanzhou, the chief financial officer for the tech giant Huawei, is “charged with conspiracy to defraud multiple international […]

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 […]

The future of cash in Canada

There have never been more ways to pay for something as there are now and the oldest way — cash — is on the decline, especially in Canada. But some experts are raising concerns about the risks of a cashless society. Timothy Lane, deputy governor of the Bank of Canada, outlined a few reasons to […]

Martinrea to close Ajax car part factory in wake of GM Oshawa news

Martinrea International Inc. says it will be forced to close an automotive factory when General Motors winds down production at its Oshawa assembly plant next year in one of the clearest indications of the knock-on effects of the closure on suppliers. Rob Wildeboer, executive chairman of manufacturer Martinrea, says the company will have no choice […]