Five Canadian business stories to watch this week

Navdeep Bains
Navdeep Bains

A chat with Navdeep

Minister of Innovation, Science and Economic Development Navdeep Bains will participate in a fireside chat hosted by the Economic Club of Canada in Toronto on Tuesday. A government-struck panel of industry experts recently urged the Trudeau Liberals to funnel money to firms with the most growth potential so they can scale up operations, while allowing lower-performing firms to die in order to “free up tax dollars.”

Pre-legalization pot earnings

Licensed medical marijuana producer Aphria Inc. is scheduled to announce its first-quarter results on Friday. The Leamington, Ont.-based company recently sold its U.S. holdings and said it will re-enter the American market and become a significant player in the U.S. cannabis industry when its federal laws are changed.

Building permits

Statistics Canada releases building permits data for August on Wednesday. Figures for July showed that Canadian municipalities issued $8.2 billion worth of building permits, down 0.1 per cent from June, due mainly to lower construction intentions in British Columbia.

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Barrick update

Barrick Gold Corp. releases preliminary production and sales information for the third quarter on Wednesday. Barrick announced Sept. 24 that it had agreed to take over Randgold Resources in an all-share deal worth about $7.9 billion that will solidify its position as the world’s biggest gold producer after years of cutbacks.

Housing starts

Canada Mortgage and Housing Corp. releases preliminary housing start data for September on Tuesday. The housing agency recently released the results of its annual stress test, and said its capital holdings are sufficient to weather against severe financial stress, a sustained low oil price and a global trade war.

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