Business
BMO reports $1.87B Q3 profit, provision for credit losses up from year ago
By The Canadian Press on August 27th, 2024
TORONTO – BMO Financial Group reported a third-quarter profit of $1.87 billion as its provision for credit losses rose compared with a year ago. The bank says its net income amounted to $2.48 per diluted share for the quarter ended July 31 compared with a profit of $1.57 billion or $2.12 per diluted share a ... Read More »
Be the first to comment!Younger Canadians missing payments on credit products: Equifax
By Ritika Dubey, The Canadian Press on August 27th, 2024
An Equifax Canada report says missed credit payments were higher among younger Canadians in the second quarter due to living costs and unemployment. Equifax says one in every 17 Canadians aged 26-35 missed a credit payment, compared with one in 23 overall. The report says delinquency rates for auto loans and lines of credit were ... Read More »
Be the first to comment!In history of Canadian rail shutdowns, echoes of some current sticking points
By Christopher Reynolds, The Canadian Press on August 27th, 2024
MONTREAL – The shutdown at Canada’s two major railways last week was not the first time a simultaneous work stoppage brought trains to a halt. Joint job action at Canadian National Railway and what was then Canadian Pacific stopped rail traffic in 1950, 1966, 1973 and 1987. Greg Gormick, who heads On Track Consulting, says ... Read More »
Be the first to comment!Rocky Mountain coal hearings still scheduled despite top court allowing appeal
By Bob Weber, The Canadian Press on August 26th, 2024
The Alberta Energy Regulator seems to be going ahead with hearings on coal exploration in the Rocky Mountains despite a court ruling that opened the question of whether those applications should have been accepted. The regulator has promised to hold public hearings into three applications from Northback Holdings to explore for coal on the Grassy ... Read More »
Be the first to comment!2 million bathtubs: Calgarians urged to conserve as new water restrictions kick in
By The Canadian Press on August 26th, 2024
CALGARY – A city official was conjuring images of bathtubs, swimming pools and jugs to drive home just how much water Calgarians need to save every day as they endure yet another round of rationing while a troubled pipe is repaired. Francois Bouchart, director of the city’s capital priorities and investment unit, sought to help ... Read More »
Be the first to comment!S&P/TSX composite up Monday with price of oil, U.S. markets mixed as Dow hits high
By Rosa Saba, The Canadian Press on August 26th, 2024
TORONTO – Energy prices helped the TSX post a gain Monday, while U.S. markets were mixed as the Dow posted a record high. Big tech names weighed down U.S. indexes on what was otherwise a mostly positive day for markets, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. “Despite the market looking ... Read More »
Be the first to comment!Montreal commuter lines halted by rail shutdown have resumed service: Exo
By The Canadian Press on August 26th, 2024
MONTREAL – Greater Montreal riders returned to their regular commute Monday as service resumed on the Exo transit system following an end to the work stoppage by Canada’s two major railways. Exo spokeswoman Catherine Maurice said that service on its Candiac, St-Jérôme and Vaudreuil/Hudson lines returned to their regular schedule after coming to an abrupt ... Read More »
Be the first to comment!Kroger and Albertsons defend merger plan in federal court against US regulators’ objections
By Dee-ann Durbin And Claire Rush, The Associated Press on August 26th, 2024
PORTLAND, Ore. (AP) – Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn’t allowed to proceed. The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. But ... Read More »
Be the first to comment!S&P/TSX composite up Monday as price of oil rises, U.S. markets mixed
By The Canadian Press on August 26th, 2024
TORONTO – Canada’s main stock index was up on Monday due in part to strength in energy stocks as the price of oil moved higher, while U.S. markets were mixed. The S&P/TSX composite index closed up 62.89 points at 23,348.97. In New York, the Dow Jones industrial average was up 65.44 points at 41,240.52. The ... Read More »
Be the first to comment!Kroger and Albertsons head to court to defend merger plan against US regulators’ objections
By Dee-ann Durbin And Claire Rush, The Associated Press on August 26th, 2024
PORTLAND, Ore. (AP) – Kroger and Albertsons defended their plan to merge ““ and tried to overcome the U.S. government’s objections ““ in a federal court hearing that began Monday in Oregon. The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. They say joining together would help ... Read More »
Be the first to comment!Search committee struck to replace head of Alberta Energy Regulator
By The Canadian Press on August 26th, 2024
CALGARY – A search committee has been struck to look for a new head of the Alberta Energy Regulator. The group’s current president, Laurie Pushor, announced last week that he wouldn’t seek a new contract after his current term expires next April. Pushor has been head of the regulatory body since 2020. He replaced previous ... Read More »
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