Former investors in Manitoba-based ag tech firm Farmers Edge have asked the B.C. Supreme Court to certify a class action lawsuit against the company, former leaders and its main shareholder. Farmers Edge, founder and former CEO Wade Barnes, former chief financial officer David Patrick, Fairfax Financial Holdings and several financial underwriters are named in the suit asking for a combined total of $270 million in damages.
Farmers Edge disputes merits of claim made by former investors
Proposed class action suite alleges investors received misleading information prior to the company's 2021 IPO
Farm equity, asset values up in 2023: StatCan
Farms' ability to pay debts declined but balance sheet remains strong
The total equity of the Canadian farm sector rose nearly eight per cent in 2023 while farm assets rose more than seven per cent according to Statistics Canada’s 2023 balance sheet.
Former investors seek class action lawsuit against Farmers Edge
Plaintiffs allege they received misleading information prior to the company's 2021 IPO
Former investors in Manitoba-based ag tech firm Farmers Edge have asked the B.C. Supreme Court to certify a class action lawsuit against the company, former leaders and its main shareholder.
Bank of Canada interest rate cut to give some borrowers relief
Effects on financial markets likely to be muted says FCC economist
The Bank of Canada trimmed its key policy rate on Wednesday to 4.75 per cent from a 23-year high of five per cent.
Inflation is now running at 2.7 per cent, above the central bank's two per cent target, but down from a high of 8.1 per cent in June 2022, Reuters reported.
Clock ticking on potential border strike, union says
Most border workers are classified essential and must continue to work in a strike, feds say
The union representing Canadian border workers says its members could strike as soon as Thursday.
Organic growers push for recognition in federal agriculture strategy
The Canadian Organic Growers are pushing the federal government to recognize their sector in the federal Sustainable Agriculture Strategy, set to be published later this year.
"The [Sustainable Agriculture Strategy] is and can be a big opportunity, and organic and regenerative have a lot to offer," said Katie Fettes, COG's director of policy and research, in an online presentation yesterday.
Meat industry calls on federal gov to ease foreign worker limits
Meat industry groups are asking the federal government to reinstate a program that expanded industry hiring limits for temporary foreign workers (TFWs) and lengthened the validity of paperwork needed for hiring, citing work shortages and impact on food prices.
Farm wages, benefits have room to improve, survey says
Agriculture wages lag behind fields like construction, manufacturing, transport; jobs may lack basic benefits
"While some agriculture employers offered these benefits, many participating organizations do not offer any flexible work arrangements or basic benefits like sick days," CAHRC wrote in a report on its 2024 survey of compensation practices in Canadian agriculture.
Canada, Mexico, U.S. and Australian cattle groups signal support for integrated beef market
The memo of understanding, signed at trilateral meetings in Mexico last week, calls on their respective governments to invest in infrastructure and plans to protect the industry from outbreaks of foreign animal disease. It asks governments to promote livestock production as "an effect tool in land and resource management."
No progress on rail strike negotiations, say union, companies
Strike action delayed until CIRB hands down decision on safety implications of work stoppage
No progress has been made in negotiations with Canadian Pacific Kansas City railway the union representing many of their workers said yesterday.
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