Archives

Residential phone services in Greater Vancouver and Victoria have been deregulated, the Canadian Radio-television and Telecommunications Commission announced today. The first wireline phone deregulation in B.C. followed applications by Telus Corp.

Quarterly profit for PRT Forest Regeneration Income Fund (TSX:PRT.UN) dropped 12% during its second quarter to $2.9 million, compared to net earnings of $3.3 million during the same period last year.

Vancouver-based Metrobridge Networks Corp. (TSX-V:MEB) has raised more than $8 million from its initial public offering on the TSX. The broadband Internet provider sold roughly 13.4 million units at $0.60 each.

One of Taiwan's largest non-alcoholic drink manufacturers is launching a cholesterol-lowering drink incorporating Forbes Medi-Tech Inc.'s (TSX:FMI) Reducol product. The milk drink marketed by Uni-President Enterprises Corp.

Canaccord Capital Inc.'s (TSX, AIM:CCI) quarterly revenue and profits hit record highs for its first fiscal quarter ending June 30, 2007. Canaccord's quarterly revenue rose 19.3%, to $245.9 million, from $206.1 million in the same period a year ago.

The oldest Victoria-based credit union is merging with its biggest brother. Greater Victoria Savings is in merger talks with Vancity after the board of the Vancouver Island credit union decided a merger would best meet the needs of its members.

Yet another B.C. income trust has gone private. The B.C. Investment Management Corp. has acquired Canadian Hotel Income Properties Real Estate Investment Trust (TSX:HOT.UN) in a cash deal worth $1.2 billion. CHIP REIT shareholders will receive $19.

Lions Gate Entertainment (NYSE:LGF) has signed a US$140 million deal with the Quebec government to increase film production in the province.

The provincial government announced today that Teck Cominco Ltd. (TSX:TCK) and NovaGold Resources Inc. (TSX:NG) have received a permit to develop the Galore Creek copper and gold project in northwestern B.C.

The proposed merger of two major credit unions in the Lower Mainland has collapsed. North Shore Credit Union and Prospera Credit Union ended merger discussions after four months of negotiations, after the proposed merger was announced in April.