TORONTO — Five things to watch for in the Canadian business world in the coming week:
CannTrust court appearances:
Former CannTrust leaders are scheduled to make their first court appearance in Toronto on Monday, roughly three years after the cannabis company became embroiled in unlicensed growing allegations. Former chief executive Peter Aceto, former vice-chairman Mark Litwin, and former chairman Eric Paul each face charges of fraud, making false or misleading statements to the OSC and the market and authorizing, permitting or acquiescing in the commission of an offence.
Loblaw Companies Ltd. will release its Q2 results on Wednesday. Canada’s agriculture ministers recently gave the country’s grocers until the end of the year to propose measures to regulate the industry, following moves by Loblaw and Walmart Canada to impose higher fees on suppliers.
Statistics Canada is set to release its Consumer Price Index for June on Wednesday. The agency recently reported that prices across the country rose at their fastest annual rate in a decade in May, with the promise of similar numbers through to the fall as the national economic reopening from pandemic measures allows consumers to spend more freely.
Shopify Inc. will release Q2 results on Wednesday. The Ottawa-based e-commerce company announced in June that it had a new revenue share model for developers and would speed up transactions as the COVID-19 pandemic continues to pit the company against Amazon.com Inc.
CP Rail earnings:
Canadian Pacific Railway Ltd. is set to release Q2 results on Wednesday. The railway operator may have lost out to rival Canadian National Railway Co. in a bidding war for U.S.-based Kansas City Southern. KCS says its shareholders will vote on a US$33.6-billion takeover offer from CN next month.
This report by The Canadian Press was first published July 25, 2021.
The Canadian Press