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Quadriga mystery deepens with little evidence of cold wallets containing $250M Feb 9th
A cryptocurrency analyst says there is little evidence that tens of millions of dollars of assets allegedly trapped on hard drives belonging to the deceased founder of Canadian cryptocurrency are being stored in so-called cold wallets..... More »
'A lot of work to do' for GM, Unifor as 3900 GM workers face strike deadline - CBC.ca + MORE Sep 19th
CBC.ca'A lot of work to do' for GM, Unifor as 3900 GM workers face strike deadlineCBC.caCanada's autoworkers' union Unifor and General Motors Co made little progress resolving the key issue of new investment in contract talks late on Sunday, the union's president said, just .... More »
Can CP Rail still flourish without Bill Ackman or Hunter Harrison? + MORE Dec 7th
(Robert Harding/Getty)
On the same day that Canadians celebrate the country’s 150th birthday, a venerable national institution will get a new leader. Next July 1, Keith Creel will take over as CEO of Canadian Pacific Railway Ltd. (TSX: CP), where he’ll have to continue writing one of corporate C.... More »
What Canadian finance pros need to know about money and mental health Nov 28th
Talking about money can be loaded with emotions. In fact, 44% of Canadians said money is one of the big topics that they fret over, according to the 2024 Financial Stress Index. Nearly half of those surveyed say they lose sleep over money troubles. Any divorce lawyer will tell you that money issues .... More »
Shares of several Canadian cannabis companies temporarily halted on TSX + MORE Dec 29th
Several Canadian cannabis companies had their stocks temporarily halted on the Toronto Stock Exchange early Friday afternoon due to volatile swings in trading..... More »
Obama to take in Detroit auto show as industry flourishes
– canadianbusiness.com
WASHINGTON – President Barack Obama will take a victory lap Wednesday in Detroit with a tour of the North American International Auto Show.
The tour gives Obama the chance to highlight the industry’s remarkable turnaround over the past seven years, and to remind the public that his administration came to the industry’s rescue at a time when most Americans opposed any further financial assistance for Chrysler and General Motors.
“Critics said it was a ‘road to socialism’ or a ‘disaster’ waiting to happen,” Obama said earlier this month. “But I’d make that bet again any day of the week.”
At the same time, Obama is taking steps to make it clear he’s not ignoring the water problems in nearby Flint, Michigan.
The president signed a federal emergency declaration over the weekend that allows up to $5 million in assistance and requires a 25 per cent match in funding from the state. The White House also said it had appointed a Health and Human Services official to co-ordinate federal help provided to local responders and the state…
The tour gives Obama the chance to highlight the industry’s remarkable turnaround over the past seven years, and to remind the public that his administration came to the industry’s rescue at a time when most Americans opposed any further financial assistance for Chrysler and General Motors.
“Critics said it was a ‘road to socialism’ or a ‘disaster’ waiting to happen,” Obama said earlier this month. “But I’d make that bet again any day of the week.”
At the same time, Obama is taking steps to make it clear he’s not ignoring the water problems in nearby Flint, Michigan.
The president signed a federal emergency declaration over the weekend that allows up to $5 million in assistance and requires a 25 per cent match in funding from the state. The White House also said it had appointed a Health and Human Services official to co-ordinate federal help provided to local responders and the state…
Husky Energy cuts spending, scraps quarterly dividend amid oil rout
– canadianbusiness.com
CALGARY – Husky Energy is cutting $800 million from its capital spending plans for this year and suspending its dividend as it copes with the deep rout in crude prices.
The moves come as the U.S. benchmark price for crude oil has sunk below US$30 a barrel.
Husky’s capital budget for 2016 is now pegged at between $2.1 billion and $2.3 billion, down from a previous range of $2.9 billion to $3.1 billion.
The Calgary-based company (TSX:HSE) introduced a stock dividend in the third quarter in lieu of a cash payout, but given the weak outlook for oil prices, Husky says it’s suspending its dividend altogether for the fourth quarter.
The company is also trimming 15,000 barrels of oil equivalent a day from its projected 2016 production targets.
And it is looking to sell holding in Western Canada that together produce 55,000 barrels of oil equivalent a day and is exploring the partial sale of pipeline and storage assets.
“We continue to take decisive action in this period of persistent supply-demand imbalance,” CEO Asim Ghosh said in a release…
The moves come as the U.S. benchmark price for crude oil has sunk below US$30 a barrel.
Husky’s capital budget for 2016 is now pegged at between $2.1 billion and $2.3 billion, down from a previous range of $2.9 billion to $3.1 billion.
The Calgary-based company (TSX:HSE) introduced a stock dividend in the third quarter in lieu of a cash payout, but given the weak outlook for oil prices, Husky says it’s suspending its dividend altogether for the fourth quarter.
The company is also trimming 15,000 barrels of oil equivalent a day from its projected 2016 production targets.
And it is looking to sell holding in Western Canada that together produce 55,000 barrels of oil equivalent a day and is exploring the partial sale of pipeline and storage assets.
“We continue to take decisive action in this period of persistent supply-demand imbalance,” CEO Asim Ghosh said in a release…
Commercial drones capture the attention of insurance industry
– theglobeandmail.com
Companies across Canada are turning to drones to monitor crops, snap pictures for real estate listings and map the oil sands – and insurers are swooping in to cover the risk of hard landings and injuries
Drew Barrymore’s sets new sights for beauty brand
– canadianbusiness.com
NEW YORK, N.Y. – Hollywood actress, director and author Drew Barrymore may soon add a new title to her resume: international retailer.
Barrymore launched her Flower brand of affordable cosmetics exclusively at Wal-Mart in 2013. Now she says she’s in talks with retailers overseas to sell the cosmetics in such places as China, South America, Australia and the United Kingdom. She’ll also be launching her own e-commerce business later this year.
Last year, she started selling an eyewear collection, also exclusively with Wal-Mart. And Barrymore told The Associated Press earlier this week she wants to expand into clothing, though it’s unlikely it will be with Wal-Mart, even though she said she will always give the Bentonville, Arkansas-based discounter “first right of refusal.”
Barrymore didn’t want to use her name for the brand, saying she’s aware of the perils of a slapping celebrity name on a product.
“The name of the game is about how you financially succeed fast enough so somebody doesn’t dump you, and grow slowly and thoughtfully so that you are just not a flash in the pan,” said Barrymore, 40, in a one-hour address at the annual industry forum sponsored by investment bank Financo on Monday…
Barrymore launched her Flower brand of affordable cosmetics exclusively at Wal-Mart in 2013. Now she says she’s in talks with retailers overseas to sell the cosmetics in such places as China, South America, Australia and the United Kingdom. She’ll also be launching her own e-commerce business later this year.
Last year, she started selling an eyewear collection, also exclusively with Wal-Mart. And Barrymore told The Associated Press earlier this week she wants to expand into clothing, though it’s unlikely it will be with Wal-Mart, even though she said she will always give the Bentonville, Arkansas-based discounter “first right of refusal.”
Barrymore didn’t want to use her name for the brand, saying she’s aware of the perils of a slapping celebrity name on a product.
“The name of the game is about how you financially succeed fast enough so somebody doesn’t dump you, and grow slowly and thoughtfully so that you are just not a flash in the pan,” said Barrymore, 40, in a one-hour address at the annual industry forum sponsored by investment bank Financo on Monday…
GM buys defunct ride-hailing company Sidecar
– canadianbusiness.com
DETROIT – General Motors Co. says it has acquired defunct ride-hailing company Sidecar.
The terms of the deal weren’t disclosed. Sidecar ceased operations on Dec. 31.
GM says it will integrate some of Sidecar’s employees and assets into its own urban mobility team.
Sidecar, which was founded in 2012, offered three separate app-based services through its fleet of drivers: ride-hailing, car-pooling and deliveries. It operated in 10 U.S. cities, including Seattle and Boston, but struggled to compete with bigger rivals Uber and Lyft.
The acquisition of the San Francisco company is GM’s second major mobility deal this month. Earlier in January, the Detroit automaker invested $500 million in Lyft.
The post GM buys defunct ride-hailing company Sidecar appeared first on Canadian Business – Your Source For Business News.
The terms of the deal weren’t disclosed. Sidecar ceased operations on Dec. 31.
GM says it will integrate some of Sidecar’s employees and assets into its own urban mobility team.
Sidecar, which was founded in 2012, offered three separate app-based services through its fleet of drivers: ride-hailing, car-pooling and deliveries. It operated in 10 U.S. cities, including Seattle and Boston, but struggled to compete with bigger rivals Uber and Lyft.
The acquisition of the San Francisco company is GM’s second major mobility deal this month. Earlier in January, the Detroit automaker invested $500 million in Lyft.
The post GM buys defunct ride-hailing company Sidecar appeared first on Canadian Business – Your Source For Business News.
