February 21st, 2024

Business

Nutrien earnings decline on weaker sales prices

By The Canadian Press on February 21st, 2024

SASKATOON – Fertilizer giant Nutrien Inc. says it earned US$176 million, or 35 cents per diluted share in the fourth quarter of 2023 – down from US$1.12 billion in the same period of 2022. The Saskatoon-based company, which reports in U.S. dollars, says its fourth-quarter results include a $76-million non-cash impairment charge related to a ... Read More »

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Suncor breaks oilsands record, but adjusted earnings fall on weaker oil prices

By The Canadian Press on February 21st, 2024

CALGARY – Suncor Energy Inc. says it earned $2.82 billion in the fourth quarter of 2023, up from $2.74 billion in the same period of 2022. The Calgary-based oil company says its net earnings for the three months ended Dec. 31 work out to $2.18 per common share, and include a $1.12 billion non-cash gain ... Read More »

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First Quantum launches US$1B bought deal as Panama closure pushes miner to the brink

By The Canadian Press on February 21st, 2024

TORONTO – First Quantum Minerals Ltd. said it will raise roughly US$1 billion through a bought deal offering and use the proceeds to repay debt and bolster its liquidity as it says its operations could be threatened by the closure of its Cobre Panamá mine. The deal is being underwritten by a syndicate led by ... Read More »

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First Quantum launches US$1 billion bought deal to shore up its finances

By The Canadian Press on February 21st, 2024

TORONTO – First Quantum Minerals Ltd. says it will raise roughly US$1 billion through a bought deal offering and use the proceeds to repay debt and bolster its liquidity. The deal is being underwritten by a syndicate led by RBC Capital Markets, BMO Capital Markets and Goldman Sachs, where the underwriters have agreed to purchase ... Read More »

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Nvidia’s 4Q revenue, profit soar thanks to demand for its chips used for artificial intelligence

By The Associated Press on February 21st, 2024

SANTA CLARA, Calif. (AP) – Nvidia Corp., which has seen its value skyrocket over the past year thanks to soaring demand for its graphics chips used for artificial intelligence, posted stronger-than-expected results for the latest quarter, with its revenue more than tripling from a year earlier. Nvidia’s revenue for its fiscal fourth quarter was $22.1 ... Read More »

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TSX falls Wednesday, Dow and S&P 500 erase losses ahead of Nvidia earnings

By Rosa Saba, The Canadian Press on February 21st, 2024

TORONTO – Canada’s main stock index moved lower Wednesday, as weakness in financial and tech stocks helped outweigh strength in energy, while U.S. markets recovered losses near the end of the day ahead of a much-anticipated earnings report from Nvidia after the bell. Markets were lower throughout most of the day, especially after the release ... Read More »

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S&P/TSX composite down 45 points Wednesday, U.S. stock markets mixed

By The Canadian Press on February 21st, 2024

TORONTO – Canada’s main stock index moved lower Wednesday, as weakness in financial and tech stocks helped outweigh strength in energy, while U.S. markets were mixed. The S&P/TSX composite index closed down 45.15 points at 21,172.38. In New York, the Dow Jones industrial average was up 48.44 points at 38,612.24. The S&P 500 index was ... Read More »

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No cuts to people or services, but B.C. budget deficit to rise, finance minister says

By The Canadian Press on February 21st, 2024

VICTORIA – British Columbia Finance Minister Katrine Conroy says the budget she tables on Thursday will protect services and won’t raise taxes for ordinary residents, but she also forecasts an increased deficit because “it’s the right thing to do.” The minister says the time is not right for the NDP government to bring cuts when ... Read More »

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Canadians’ grocery shopping habits increasingly driven by discounts and deals: report

By The Canadian Press on February 21st, 2024

HALIFAX – Almost two-thirds of Canadians say they have switched their primary grocery store in the past year to score better deals. A new survey by Dalhousie University’s Agri-Food Analytics Lab and marketing insights firm Caddle found that almost 30 per cent of respondents exclusively choose their grocery stores based on in-store discounts and promotions. ... Read More »

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Boeing ousts head of 737 jetliner program weeks after panel blowout on a flight over Oregon

By The Associated Press on February 21st, 2024

SEATTLE (AP) – Boeing said Wednesday that the head of its 737 program is leaving the company in an executive shake-up weeks after a door panel blew out on a flight over Oregon, renewing questions about safety at the company. Boeing announced the departure of Ed Clark, who had been with the company for 18 ... Read More »

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