Sears Gains Approval To Begin Liquidation
Sears Canada Inc (TSX:$SCC), following its announcement on Tuesday, has received approval from the Ontario Superior Court to begin liquidating its remaining 130 stores across Canada, beginning October 19.
A buyer group led by Sears executive chairman Brandon Stranzl had been in discussions to purchase the retailer and continue its operations, but it did not materialize.
Uber To Continue Operations In Quebec
Ride-hailing service Uber announced on Friday that it will continue its operations in Quebec as the company anticipates reaching a deal with the new Quebec transport minister.
In late September, Uber threatened to leave the Quebec market, beginning this weekend, due to new government rules regarding driver training requirements.
However, the company acknowledges that the new rules would not be implemented right away, and it will continue discussions with the Quebec government.
The Economy
Canada Won’t Abandon NAFTA Talks Despite U.S.’s Aggressive Proposals
On Friday, following the latest aggressive proposals made by the U.S. during the latest NAFTA negotiations, which included a strict “Made in America” requirement for auto parts, Prime Minister Justin Trudeau commented that Canada will not be walking away from the table and will counter these proposals.
The ultimate goal, says Trudeau, is to have a “win-win-win” situation for all three parties involved.
The Market
GlaxoSmithKline receives approval for shingles vaccine in Canada
GlaxoSmithKline PLC (NYSE:$GSK) has received approval from Canadian health regulators for its key shingles vaccine. The vaccine was unanimously recommended for approval by a U.S. Food and Drug Administration advisory panel last week.
Most Active Stocks
ProMetic Life Sciences Inc. (TSX:$PLI) saw its shares jump by 5.1% on Friday following the announcement that the company has received FDA acceptance of the company’s biologics license application for its plasminogen replacement therapy (Ryplazim). ProMetic previously reported data showing that Ryplazim treatment consistently replaced and maintained the plasminogen concentration at an appropriate level and that it resolved all lesions in all patients treated.
New Gold Inc. (TSX:$NGD) recently completed its first gold pour at the Rainy River mine, yielding approximately 500 ounces of gold and 600 ounces of silver.
B2Gold Corp. (TSX:$BTO), another gold company, has released its Q3 production results, reporting 135,628 ounces of gold produced from its Fekola mine in Mali. Production for the first nine months was 389,812 ounces.
Cenovus Energy Inc. (TSX:$CVE) announced last month that it will sell its Suffield crude oil and natural gas operations in Alberta to International Petroleum Corp. for $512-million cash. Its shares went up by 2% as of market close on Friday.
Delphi Energy Corp. (TSX:$DEE)’s share price rose by 3.6% on Friday, closing at $1.16 per share.
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