Company News

Businesses have doled out as much as US$4 million for last-minute plans to move boats through the Panama Canal in recent weeks, the Panama Canal Authority says, as the effective closure of the Strait of Hormuz generates a seismic shift in global trade flows.

The federal government has approved a $4-billion plan by Enbridge Inc. to expand an existing natural gas pipeline in British Columbia, a move one executive says demonstrates a greater “sense of purpose” from Ottawa toward bolstering Canada’s status as a global energy exporter. 

The federal government announced Friday it has approved Enbridge Inc.’s $4-billion Sunrise natural gas pipeline project in British Columbia. Here’s a quick rundown of the project and why it’s important.

Google-parent Alphabet will invest up to US$40 billion in Anthropic, as the tech giant deepens its partnership with the artificial intelligence startup that is also its rival in the global AI race.

X-Energy shares surged 30.9 per cent in their Nasdaq debut, fetching the company a valuation of US$11.9 billion and signaling strong interest in the developers of carbon-free energy that has the potential to fuel the unprecedented boom in artificial intelligence.

Retail sales rose 0.7 per cent to $72.1 billion in February as sales at new and used car dealers climbed, Statistics Canada said Friday.

Canadian AI company Cohere has signed a deal with Germany’s Aleph Alpha in a bid to create an independent alternative artificial intelligence company.

Demand for Intel’s central processors from firms offering AI services was so strong in the first quarter that it sold even chips it had originally written off, a remarkable turnaround that sent the company’s shares soaring on Friday.

HCA Healthcare narrowly beat Wall Street estimates for first-quarter profit on Friday but faced a dip in patient admissions during the flu season, sending shares of the hospital operator down 9.5 per cent premarket.

Procter & Gamble on Friday warned of a US$150 million hit to its annual profit from higher input cost due to the Middle East conflict, even as demand for its pricier hair and skin care products helped the consumer goods bellwether top quarterly expectations.

U.S. equity funds attracted the largest weekly net investment in four weeks through April 22, driven by upbeat corporate earnings results and optimism over AI-linked business deals.

SLB reported a fall in first-quarter profit on Friday, as disruptions from the war in Iran forced the top oilfield services provider to rein in operations in a key oil-producing region, sending its shares down more than four per cent before the bell.

Stellantis will focus the majority of its investment on its core Jeep, Ram, Peugeot and Fiat brands under CEO Antonio Filosa’s strategic plan due to be announced in May, five sources said, with a “material increase” to their funding.

It’s difficult to muster much sympathy for investors who bought Nvidia stock in 2017 — those who held on have since enjoyed gains of 3,400 per cent or more.

Questerre Energy Corp. is selling its minority stake in its Kakwa Central assets in Alberta for $23.5 million in cash.