Business
Retailer Aritzia well on its way to replicating Canadian success in U.S.: CEO
By Tara Deschamps, The Canadian Press on July 11th, 2024
Aritzia Inc.’s chief executive says the apparel retailer is making progress in its push to make the brand as popular in the U.S. as it is in Canada. Jennifer Wong told analysts on a Thursday call that she is pleased with the company’s performance south of the border. “After 40 years in business, we’re very ... Read More »
Be the first to comment!Cogeco reports profit of $19 million in third quarter as internet subscribers grow
By The Canadian Press on July 11th, 2024
MONTREAL – Cogeco Inc. reported a profit attributable to shareholders of $19.0 million for its third quarter, up from a loss of $34.5 million a year earlier. The company says revenue was $777.2 million, up from $767.6 million during the same quarter last year. President and CEO Frédéric Perron says growth in Cogeco’s Canadian telecommunications ... Read More »
Be the first to comment!Apparel retailer Aritzia reports $15.8M in Q1 earnings, net revenues $498.6M
By The Canadian Press on July 11th, 2024
VANCOUVER – Aritzia Inc. says it earned $15.8 million in its first quarter, down from $17.5 million a year earlier. Net revenues for the Vancouver-based apparel retailer totalled $498.6 million, up from $462.7 million. Earnings per diluted share were 14 cents during the period ended June 2, down from 15 cents last year. Aritzia’s adjusted ... Read More »
Be the first to comment!S&P/TSX composite up almost 200 points, U.S. stock markets mixed amid tech slump
By The Canadian Press on July 11th, 2024
TORONTO – Canada’s main stock index rose almost 200 points Thursday, helped by strength in the telecom, utility and energy sectors, while U.S. stock markets were mixed as large tech names weighed on Wall St. The S&P/TSX composite index closed up 193.90 points at 22,544.13. In New York, the Dow Jones industrial average was up ... Read More »
1 responseStock market today: Most of Wall Street climbs on encouraging inflation report, but Big Tech slumps
By Stan Choe, The Associated Press on July 11th, 2024
NEW YORK (AP) – Most U.S. stocks rose after the latest update on inflation bolstered Wall Street’s belief that relief on interest rates may come as soon as September. Three out of every four stocks in the S&P 500 climbed Thursday, and homebuilders, real-estate owners and other stocks that benefit the most from easier interest ... Read More »
1 responseA timeline of events in the Ontario Science Centre closure
By The Canadian Press on July 11th, 2024
TORONTO – Ontario infrastructure officials released more information Thursday about structural and mechanical issues facing the Ontario Science Centre, as well as a peer review of the original engineering report on roof panel problems, as they justified the abrupt decision last month to close the facility. Here is a timeline of events that came before ... Read More »
1 responseYukon government directs mining company to implement ‘safeguard’ measures after spill
By The Canadian Press on July 11th, 2024
Yukon mines minister John Streicker says the Eagle Gold mine disaster has the territory’s residents “justly concerned” about the implications of the mining spill on Yukoners’ way of life “for generations to come.” Streicker says the government Department of Energy, Mines and Resources has directed Victoria Gold, the company that owns the mine, to stabilize ... Read More »
1 responseB.C. rejects Bonnie Henry’s report backing non-prescribed alternatives to fentanyl
By The Canadian Press on July 11th, 2024
VICTORIA – A report from B.C.’s provincial health officer recommends the province expand its “safer supply” program to prevent overdoses, including allowing access to alternatives to unregulated drugs without a prescription. But Mental Health and Addictions Minister Jennifer Whiteside says the province does not agree with the recommendation and “will not go in the direction” ... Read More »
1 responseMarathon Oil reaches $241 million settlement with EPA for environmental violations in North Dakota
By The Associated Press on July 11th, 2024
WASHINGTON (AP) – The federal government announced a $241.5 million settlement with Marathon Oil on Thursday for alleged air quality violations at the company’s oil and gas operations in the Forth Berthold Indian Reservation in North Dakota. The Environmental Protection Agency and Department of Justice said the settlement requires Marathon to reduce climate- and health-harming ... Read More »
Be the first to comment!Teck closes sale of coal business to Glencore in wake of federal approval
By The Canadian Press on July 11th, 2024
VANCOUVER – Teck Resources Ltd. says it has completed the sale of its remaining 77 per cent interest in its steelmaking coal business to Glencore plc. The news comes as no surprise following the announcement last week by the federal government that it had approved the sale of the operation to the Swiss commodities giant. ... Read More »
Be the first to comment!Average rate on a 30-year mortgage falls slightly, easing borrowing costs for home shoppers
By Alex Veiga, The Associated Press on July 11th, 2024
LOS ANGELES (AP) – The average rate on a 30-year mortgage fell slightly this week, providing modest relief for home shoppers facing record-high home prices. The rate fell to 6.89% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.96%. The average rate has mostly hovered around 7% this ... Read More »
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