Posthaste: A big day for pipelines, inside CannTrust’s Pelham facility and Canada’s red hot real estate segment

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Posthaste: Inside CannTrust's Pelham facility, a big day for pipelines and RBC's 'modest miss'

Amarjeet Sohi, the federal Minister of Natural Resources, is expected to share news and discuss progress on the Trans Mountain, the pipeline Ottawa bought from Kinder Morgan Inc. for $4.5 billion last year. Since then, the government has been eager to offload the Alberta-to-B.C. pipeline project to private parties. A few First Nations have expressed interest in taking a stake, while work is already under way on the project. We will know more when Minister Sohi speaks to the media at 1.30 p.m.

CannTrust, the embattled cannabis company, continues to reel from the fallout of its Health Canada violations. FP’s Vanmala Subramaniam reports that three key personnel have departed as the company tries to pick up the pieces. Speaking to employees at the company’s Pelham facility, Vanmala paints a picture of a chaotic, morale-busting environment.

Bank earnings did not kick off on the right note. Royal Bank of Canada had “a modest miss against expectations as the macro environment weighed on its Capital Markets results as well as those from its Investor & Treasury Services operations,” according to Barclays Plc bank analyst John Aiken in a note to clients. “Despite the miss, the results from its other segments were solid.”

 

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