Take stock – May 6

A longtime Red Deer business is strengthening its presence in Central Canada. Scott Builders Inc. announced on Tuesday that it has opened a branch office in Milton, Ont.

Scott Builders adds second branch in Ontario

A longtime Red Deer business is strengthening its presence in Central Canada. Scott Builders Inc. announced on Tuesday that it has opened a branch office in Milton, Ont. The company already has an office in Owen Sound, Ont., with others in Calgary and Edmonton. The new branch will be managed by Lyle Ball, who was previously operator of a design-build construction firm in Tillsonburg, Ont. A design/build contractor, Scott Builders was formed in 1971. In 2008, it was ranked among the top 40 Canadian contractors by volume.

Canada laggard in business R&D: Report

Canadian businesses aren’t doing enough research and development and that’s putting the country at a distinct global disadvantage, says a new federal report. The Science, Technology and Innovation Council says Canada ranks sixth among G7 industrialized countries in business R&D as a proportion of gross domestic product — despite substantial federal tax breaks and funding. When compared with countries ranked by the Organization for Economic Co-operation and Development (OECD), Canada is 14th out of 19.

Canwest faces another debt deadline

Canwest Global Communications Corp. (TSX:CGS) faced another deadline Tuesday for its overdue debt to lenders. The company, which owns the National Post newspaper and Global television stations, owed a $30.4-million payment to its bankers, and has already received numerous extensions. So far, the lenders have agreed to withhold their right to demand repayment of $761 million owed by the Canwest, and instead chosen to continue negotiations. Overall, the company has $3.9 billion in debt, which it is trying to recapitalize.