JOHANNESBURG/BENGALURU The world's top gold miners are retrenching after COVID-19 related shutdowns despite record prices for the yellow metal, with cost-conscious executives prioritizing investor returns over production growth.
Sept 8 Aurora Cannabis Inc on Tuesday
named Miguel Martin its chief executive officer, tasking the
insider to turn around the troubled pot producer, and said it
would book up to C$1.8 billion ($1.37 billion) in restructuring
California-based Kadenwood LLC said on Thursday it would buy EcoGen Laboratories as it looks to tap into rising demand for hemp-derived cannabidiol (CBD) products, while creating an integrated supplier worth about $250 million.
Aug 4 Pioneer Natural Resources Co on
Tuesday posted a quarterly loss that was smaller than estimates,
as the U.S shale producer reined in costs to cushion a blow from
the coronavirus-induced plunge in oil prices.
Canada's Husky Energy Inc said on Thursday it had the capacity to ramp up production in the third quarter as about 30,000 barrels of its crude oil remained curtailed per day in Western Canada and the United States.
Months into one of the worst oil price crashes in history, lenders have tightened the screws on shale producers by wiping away 20% of the credit that has helped fuel the industry's boom.
Aurora Cannabis on Tuesday announced a new round of staff reductions and plans to shut five facilities over the next two quarters, as the COVID-19 pandemic pummels the cash-crunched cannabis industry.
Canopy Growth Corp , on Friday reported a bigger-than-expected quarterly loss as its recreational cannabis business lost market share due to delayed product launches and the company abandoned a profitability target. Its U.S.-listed and Canadian shares ended down about 21% as the company withdrew its forecast of becoming EBITDA positive by the end of fiscal 2022 due to the coronavirus crisis. | Video
Billionaire investor Carl Icahn, who was the largest shareholder in Hertz Global Holdings Inc, unloaded his entire stake in the rental car company at a "significant loss" days after it filed for bankruptcy protection.