Company News

PRESS DIGEST- Canada- May 7

May 7 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.


** Hudson's Bay Co said on Monday it is pursuing "strategic alternatives" for U.S. Lord & Taylor chain's operations, which could lead to a possible sale or merger as part of its strategy to focus on its best opportunities.

** Air Canada said on Monday it will redeploy some of its idled 420-odd 737 Max pilots to fly other planes as the grounding of the Boeing Co planes drags on.

** Jordan Jacobs, the chief of business and strategy for artificial intelligence at Toronto-Dominion Bank is leaving just 16 months after selling his startup for $100 million to launch an AI-focused venture capital fund.


** Canadian federal officials are setting the stage to award Irving Shipbuilding contracts to build two more Arctic and offshore patrol ships but the vessels will be delivered to the Canadian Coast Guard instead of the navy.

** American multi-state cannabis operator Acreage Holdings Inc said it is "very confident" its proposed acquisition by Canopy Growth Corp will get shareholder approval next month despite activist investor Marcato Capital Management LP calling it a "value-destroying" transaction and urging Acreage shareholders to vote against the deal.

Compiled by Bengaluru newsroom