The world is changing for the well-heeled. In addition to swanky lounges where the upper crust can enjoy a high-priced designer cocktail at the end of the day, they will soon be able to order an expensive strain of marijuana edibles at a posh cannabis lounge set to open in 2020. This lounge will be the first of its kind in Ontario and with its opening, the business and commercial world will likely be bracing for more of the same. The 8,000-square-foot space will be located in downtown Toronto.
Canada is looking for some reassurances regarding its overseas trade deals. Politicians here wants more than optimistic talk from the United Kingdom's new Prime Minister regarding the U.K.'s business and commercial dealings with Canada, which likely will affect Canadian entrepreneurs. Canada's business owners want to see trade continue to grow between the two countries even on the heels of the U.K.'s exit from the European Union.
One of the country's major cannabis producers has stopped production amid allegations by Health Canada officials that the company was producing product illegally. The business and commercial world was sent reeling recently as CannTrust's market shares plummeted and the company voluntarily halted production at its headquarters in Vaughn, Ontario. The company is accused of growing cannabis at its Pelham, Ontario location between Oct. 2018 and this past March -- in rooms that were apparently unlicensed to do so.
According to a leading stateside politician, the relationship between Canada and its nearest neighbour is healthy and vibrant. On his latest trip to Canada, U.S. Vice-president Mike Pence said even though trade problems threatened the friendship of the two countries a year ago, the relationship between Canada and the United States has never been stronger. This assertion bodes well for business and commercial ventures for both countries.
The corporate world is soaring regarding recent rumblings that one of Canada's major airlines is poised to add another under its wing. Recent business and commercial news in Canada has it that Air Canada has made a bid to purchase Transat to the tune of $520 million despite Transat's more than $24 million in losses it suffered last year. Many analysts believe that it's a deal that would benefit both companies.
By this fall edible cannabis products will become legal. Business and commercial transactions will heat up in Canada as business owners and producers vie for their places in what is expected to be a very lucrative second part to the legalization of cannabis in the country come October. Some people who have shied away from smoking cannabis may not be so hesitant to try edible cannabis products which include things like cookies and candies.
A smaller Canadian company took on a larger corporation and has put a dent in its sales. When Heinz decided to pack up its operations in Canada and move its headquarters to the States, French's fought back and won over the hearts of many Canadians. The business and commercial sector was shaken up by Heinz' pullout, which gave French's a great marketing advantage in getting many Canadians to switch their brand of ketchup.
Many people are trying to become much more healthy and in many respects that includes eating a diet which includes more plant-based foods. This trend has not gone unnoticed in the business and commercial world in Canada. Some companies are getting in on the plant-based diet trend, which is reflective of the products they're starting to offer. In fact, one of Canada's largest food manufacturers, Maple Leaf Foods Inc., is so into the idea of plant-based products that it will soon be opening a multi-million dollar processing plant Stateside.
A group of Indigenous Canadians is poised to buy the majority of the Trans Canada pipeline. This recent business and commercial news coming out of Canada is likely to see an offer on the table of $6.8 billion for the pipeline the principles of which the group says are in keeping with its goals. The First Nations group is calling all indigenous groups to band together in a bid to purchase the pipeline.
Small and medium-sized businesses are positive contributors to the country's economy. When it comes to the business and commercial realm in Canada, these companies employ nearly 90 per cent of the nation's workforce in the private sector and heartily drive economic growth. Governments at all levels realize the integral role these businesses play and have helped entrepreneurs to grow their companies and to flourish.