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.
The closure of several outlets of a popular store seems to be a sign of the times. Recent business and commercial news indicates that Gap will be shutting the doors on a number of its stores in the country, some of which are located in Ontario. The company owns 230 stores across North America, but has not indicated how many closures will take place in Canada. The company said the move is in keeping with guidelines for outlets that are not consistently meeting sales requirements.
A major Ontario financial corporation is shelling out big money to invest in the legal cannabis industry. Trichome Financial Corp. out of Toronto is leaping into the business and commercial sector of the cannabis world with $100 million in debt financing for a number of cannabis companies. Up until now, this sort of debt financing has been a rarity in the cannabis sector, but Trichome is already taking receivables as a guarantee from some of the country's leading cannabis companies.
The 5G network in Canada may ban Huawei Technologies Co. That decision, though, may be delayed by Prime Minister Justin Trudeau's efforts to try to safeguard three Canadians detained in China. The business and commercial world is waiting for a security review by the federal government as to what steps will be taken in terms of a possible Huawei freeze out. Some of the country's allies have already taken that step.