Record quarterly revenue for Canadian Pacific Railway

Revenue growth across every line of business, says company

Record quarterly revenue for Canadian Pacific RailwayCalgary-based Canadian Pacific Railway Ltd. announced on Tuesday record second-quarter revenues of $1.98 billion, an increase of 13 per cent from last year. It also had record earnings per share (EPS) with reported diluted EPS of $5.17 or $4.30 on an adjusted diluted EPS basis. “I commend the team for this record second-quarter performance,” said…

Cannabis company Sundial Growers acquires U.K. company

Intends to use parts of these facilities to cultivate hemp and cannabis

Cannabis company Sundial Growers acquires U.K. companyCalgary-based cannabis company Sundial Growers Inc. acquired U.K.-based Bridge Farm Group with plans to produce and sell high-quality CBD products globally. In a news release, Sundial said Bridge Farm is a market-leading producer of ornamental plants, flowers and herbs in the United Kingdom. It operates three growing facilities with 1.5 million square feet and plans…

TC Energy selling its U.S. midstream assets for $1.7 billion

Part of efforts to fund portfolio of natural gas pipelines, liquids pipelines and power generation projects

TC Energy selling its U.S. midstream assets for $1.7 billionTC Energy Corp. has announced it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary Columbia Midstream Group to UGI Energy Services, LLC, a subsidiary of UGI Corp., for about $1.7 billion. The company, formerly known as TransCanada, said the transaction is expected to close in the third quarter…

WestJet sale to Onex approved by federal minister

Deal still subject to conditions, including other regulatory approvals and approval by the security holders on July 23

WestJet sale to Onex approved by federal ministerCalgary-based WestJet Airlines Ltd. says Onex Corp. has received approval from the federal minister of Transport to acquire WestJet provided the acquisition doesn’t raise public issues related to national transportation. It was announced in May that WestJet was being sold to Onex in a deal that is worth about $5 billion, including assumed debt. The…

Purolator plans to invest $1 billion in Canadian operations

Record growth over the past three years meant the company picked up and delivered over 250 million packages in 2018

Purolator plans to invest $1 billion in Canadian operationsPurolator says it will invest more than $1 billion in its Canadian operations as a result of record volume and e-commerce growth. “Today's announcement is one of the most ambitious in our company's history and will future-proof our business,” said John Ferguson, president and CEO of Purolator, in a news release. “Purolator has experienced record…

Canadian Utilities selling interest in Alberta PowerLine

Indigenous communities along the transmission line can obtain up to a 40% equity interest

Canadian Utilities selling interest in Alberta PowerLineCalgary-based Canadian Utilities Ltd. announced on Monday that it’s selling its Alberta PowerLine, along with its partner Quanta Services Inc., for about $300 million and the assumption of $1.4 billion in debt. It said the purchaser is a consortium including Greystone Managed Investments (TD Greystone Asset Management), as manager for and on behalf of the…

Dickinson’s venture firm to back five innovative companies

Company is investing $750,000 in companies in Alberta, Saskatchewan and Ontario.

Dickinson’s venture firm to back five innovative companiesCalgary-based District Ventures Capital, which is led by entrepreneur Arlene Dickinson, announced Friday it is investing $750,000 in five innovative companies in Alberta, Saskatchewan and Ontario.  The companies, in the consumer goods food and health space, were selected from 100 applicants from across Canada. It said the companies were chosen based on their product, sales…

Canadian Utilities selling Canadian electricity generation assets

Entire fossil-fuel-based generation portfolio in Canada sold for $835 million to Heartland Generation

Canadian Utilities selling Canadian electricity generation assetsCanadian Utilities Ltd, an ATCO company, announced on Monday that it’s selling its entire Canadian fossil-fuel-based electricity generation portfolio for $835 million to Heartland Generation Ltd., an affiliate of Energy Capital Partners. The deal includes 11 partly or fully owned natural-gas-fired and coal-fired electricity generation assets located in Alberta, British Columbia and Ontario, with a…

WestJet being sold to Onex Corporation in $5 billion deal

Onex and its affiliated funds will acquire all outstanding shares of WestJet for $31 per share

WestJet being sold to Onex Corporation in $5 billion dealCalgary-based WestJet Airlines is being sold to Onex Corporation in a deal that is worth about $5 billion including assumed debt. The sale is subject to shareholder approval. In a news release on Monday, it was announced that in the all-cash transaction Onex and its affiliated funds will acquire all outstanding shares of WestJet for…

CN acquires Alberta-based H&R Transport

Strategy is to offer more end-to-end rail supply chain solutions to a wider range of customers

CN acquires Alberta-based H&R TransportCanadian National Railway, through a subsidiary company, has reached an agreement to acquire the intermodal division of the Alberta-based H&R Transport Limited, it announced on Thursday. “H&R is well known in Alberta and across the industry for investing in its people, systems, and assets, as well as its customer centric services and best in class…

WestJet’s net earnings up 33% in first quarter

Board of directors declares cash dividend of 14 cents per common voting share

WestJet’s net earnings up 33% in first quarterCalgary-based WestJet reported on Tuesday that its first quarter net earnings of $45.6 million, or 40 cents per fully diluted share, rose by 33.4 per cent. That compared with net earnings of $34.2 million, or 30 cents per fully diluted share, in the first quarter of 2018. The airline’s revenue also was up 5.5 per…

Entrepreneurs buying other businesses to grow, says new report

Increasing number of businesses for sale as entrepreneurs get older, days BDC report

Entrepreneurs buying other businesses to grow, says new reportEntrepreneurs who acquire other businesses do so to grow, says a report released on Tuesday by the Business Development Bank of Canada (BDC). And Pierre Cléroux, vice-president of research and chief economist at BDC, said the issue has become important because of the increasing number of businesses for sale as entrepreneurs get older. “For many…

Canadian direct investment abroad balloons in 2018

StatsCan says the stock of foreign direct investment in Canada rose by 5% in 2018 to $877 billion

Canadian direct investment abroad balloons in 2018The stock of Canadian direct investment abroad grew at a faster rate in 2018, largely as a result of valuation gains from a weaker Canadian dollar, according to Statistics Canada. The growth in the stock of foreign direct investment in Canada also picked up pace at five per cent when compared with the two previous…

Modular home maker aims to be world beater

The resource price crash of 2014 forced Horizon North to turn its old business model on its head

Modular home maker aims to be world beaterA high-end home built by an oil-and-gas logistics company? Now, that’s disruptive technology at work. Disruption is a way of life now for Horizon North, a company that has had to be exceptionally nimble after the resource price crash of 2014 turned its old business model on its head. Created as a spinoff from Mullen…

Canada is squandering its intangible future

The digital economy is underpinned by a new class of non-physical assets. Why aren’t we investing in them?

Canada is squandering its intangible futureCanada is in danger of becoming a tenant nation, according to a recent Public Policy Forum report written by Sean Speer and Robert Asselin. Speer and Asselin describe a post-industrial Canada falling into a modern form of dependency where, although we generate world-class innovation, we lack essential infrastructure and/or skills to commercialize it. We’re simply…
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