Star Business Journal

By Scott Deveau Bloomberg Sat., April 20, 2019 A pair of activist investors agitating for changes at TransAlta Corp. have terminated their partnership ahead of the power company’s annual general meeting slated for Friday. Mangrove Partners and an entity controlled by C. John Wilder’s Bluescape Energy Partners said in a regulatory filing late Friday that they would terminate their co-operation agreement. The pair, which collectively owned 10.1 per cent of TransAlta, had said they were prepared to launch a proxy fight at the company to replace five directors on the board. They also tried unsuccessfully to have regulators review a $750 million (Canadian) investment by Brookfield Asset Management Inc. in TransAlta to determine whether additional disclosure and second vote on the investment should be required, among other matters. It would be challenging for either investor to push ahead with their proxy fight at the meeting after the pair failed to file proper … [Read more...] about TransAlta activists end partnership ahead of annual meeting

By Armina Ligaya The Canadian Press Sat., April 20, 2019 TORONTO - When cannabis supply at Small Town Buds begins to dwindle, co-owner Chris Felgate shuts the doors of his Devon, Alta., shop and turns customers away. Even though the legal retailer often still has oils and capsules in stock, most shoppers are looking for the store’s namesake product, he said. “Having our doors open with no flower available was making customers more angry... It’s like going into a grocery store and not having groceries,” he said. Since he first opened his doors on Oct. 17, the closures became a near-weekly ritual as demand outstripped the supply he was able to procure from the provincial government distributor, he said. The situation began improving in March, however, after the Alberta Gaming, Liquor and Cannabis agency added additional suppliers, and he has kept his doors open consistently since. But the weekly supply he receives still lacks in selection and … [Read more...] about Six months after legalization, high prices and supply issues boost illicit pot market

By The Canadian Press Fri., April 19, 2019 OTTAWA - Prime Minister Justin Trudeau will meet with his Japanese counterpart, Shinzo Abe, when the latter visits Canada next weekend. Abe and Trudeau’s two-day meeting on April 27 and 28 will centre on the upcoming G20 summit in Osaka in late June, as well strengthening ties between the two countries. Trudeau’s office says in a statement the two will also discuss the revamped Trans-Pacific Partnership trade deal, which the PMO says has created opportunities in both countries. The Canadian and Japanese leaders are expected to address the media after holding their bilateral meeting. The pair most recently spoke at the Asia-Pacific Economic Cooperation leaders’ meeting in Papua, New Guinea, last November. Article Continued Below Abe’s upcoming visit to Canada is part of a week-long trip to Europe and North America that includes stops in the United States, France, Italy, Slovakia and Belgium, as Japan … [Read more...] about Japanese Prime Minister Shinzo Abe to visit Canada next weekend, April 27-28

By Ross Marowits The Canadian Press Thu., April 18, 2019 TORONTO - Canada’s main stock index closed at an all-time high Thursday as it overcame a correction late last year that saw it lose 17 per cent of its value. The S&P/TSX composite index gained 68.57 points to 16,612.81, surpassing the previous record close of 16,567.47 set last July. Stock markets are feeling “calm and bliss” following a reversal in language from central banks towards advocating a slow rise in interest rates, says Kash Pashootan, CEO and chief investment officer at First Avenue Investment Counsel Inc. “That has the market feeling much more comfortable and confident, which has continued to push equity markets higher,” he said in an interview. The TSX has recovered 2,832 points or 20.6 per cent since sinking to its December low. Article Continued Below Pashootan said the softening of Federal Reserve language about raising interest rates has been the foundation … [Read more...] about TSX closes at all-time high as it overcomes correction in late 2018

By The Canadian Press Thu., April 18, 2019 OTTAWA - The Trump administration is launching a new charm offensive to sell the merits of the new North American free trade pact to counter growing skepticism about the economic benefits of the deal. The U.S. Trade Representative says the new, yet-to-be-ratified deal will bring auto jobs back to the U.S. from Mexico. A new nine-page “white paper,” says the new continental trade deal will generate $57 billion in new auto manufacturing investments and create 76,000 new jobs in the American automotive sector in the next five years. The complicated content formula for what constitutes a North American-made auto — known as rules of origin — and updated labour provisions aimed at Mexico were key issues in the contentious renegotiation of North American Free Trade Agreement. A senior USTR official, who briefed journalists on the condition of anonymity, dismissed a report from the International Monetary Fund last … [Read more...] about U.S. Trade czar trumpets new NAFTA auto provisions amid skepticism