Newspaper article The Canadian Press

Prep-Business Report

Newspaper article The Canadian Press

Prep-Business Report

Article excerpt

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(Markets)

Canada's main stock index posted a triple-digit gain Friday after oil hit a three-month high to extend the market's winning streak to six weeks.

The S&P/TSX composite index closed up 142.26 points to 15,838.24.

In New York, the Dow Jones industrial average was up 443.86 points at 25,883.25.

The S&P 500 index was up 29.87 points at 2,775.60, while the Nasdaq composite was up 45.46 points at 7,472.41.

The Canadian dollar traded at an average of 75.38 cents U-S, compared with an average of 75.20 cents on Thursday.

The April crude contract was up $1.19 at US$55.98 per barrel and the March natural gas contract was up 5.2 cents at US$2.62 per mmBTU.

The April gold contract was up US$8.20 at US$1,322.10 an ounce and the March copper contract was 2.4 cents at US$2.80 a pound.

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(Aphria-Review)

Cannabis producer Aphria says a review of its governance procedures revealed some non-independent directors had conflicting interests in its acquisition of several Latin American companies.

But it says a separate review of the takeover of the companies in Jamaica, Argentina and Colombia found the purchase price for the deal to be within an acceptable range.

Aphria launched the reviews after short-sellers alleged in December that the 280-million-dollar purchase price of the acquisitions was vastly inflated to benefit outsiders and that the companies were "largely worthless."

The company says it will adopt best practices to manage conflicts of interest as part of several recommendations put forth by the review committee. (The Canadian Press)

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(BlackBerry-Feds)

BlackBerry is getting 40-million dollars in federal funding to help develop technologies that make cars safer and eventually capable of driving themselves.

The company is putting 310-million dollars of its own money into the initiative, expected to create 800 jobs over the next decade at BlackBerry's campus in the Ottawa suburb of Kanata.

It will put the federal funding toward the development of its QNX software for the next generation of autonomous vehicles as well as skills training for workers. …

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