Browsing: Business News

Grindr will pay US$250 million for PurposeMed, parent of Calgary-born PrEP telehealth firm Freddie, a rare large exit for backers including BDC Capital.

Canada’s Weston family is reported to be in advanced talks to buy British pharmacy chain Boots from Sycamore Partners for about £7 billion.

Winnipeg and Sept-Îles lose door-to-door mail first as Canada Post starts converting 686,000 addresses by 2027, including 56,000 in Calgary and Edmonton.

Quantum eMotion will pay about $33.8M in cash and stock for Victoria’s Plurilock, buying government sales channels as Ottawa’s post-quantum deadline nears.

LNG Canada’s partners approved a $33-billion second phase in Kitimat, B.C., doubling capacity to 28 million tonnes a year, as critics raise emissions concerns.

Toronto biotech Biossil raised US$153 million at a US$1-billion valuation in an OpenAI-led round announced Sept. 28, making it Canada’s newest unicorn. The company uses AI to find new uses for drug candidates that failed in clinical trials, BetaKit reported.

U.S. import bans on Canadian beer, wine, spirits, whey and some motorcycles took effect Sept. 29. The banned goods were worth about US$967 million in 2025, roughly 87 per cent of it alcohol, according to American Action Forum estimates reported by CP24.

Volkswagen is recalling nearly 35,300 2018 Tiguan and Atlas SUVs in Canada because a steering rack mounting bolt can corrode from road salt and break, risking loss of steering control. Dealers will replace the bolt free of charge, and no Canadian accidents or injuries have been reported.

Stelco will lay off 350 workers at its Hamilton plant from Oct. 9 as it idles finishing operations and shifts production to Lake Erie Works, the union says.

About 350 Stelco steelworkers in Hamilton face layoffs as Cleveland-Cliffs idles finishing lines under 50% U.S. tariffs, with work shifting to Lake Erie Works.