November 21st, 2019

Business

Lowe’s to close 34 “underperforming” stores across six provinces, vexing Quebec

By Christopher Reynolds, The Canadian Press on November 20th, 2019

Lowe’s Companies Inc. said Wednesday it will close 34 “underperforming” stores across six provinces as part of a restructuring of its Canadian business, raising hackles in Quebec over the fate of local hardware mainstay Rona. The stores include 26 Ronas, six Lowe’s and two Reno-Depots spread from Prince George, B.C., to Dartmouth, N.S. “Closing underperforming ... Read More »

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Metro Inc. expanding use of in-store technology amid labour crunch

By Aleksandra Sagan, The Canadian Press on November 20th, 2019

Metro Inc. plans to roughly double the number stores with self checkouts during its 2020 financial year as the industry contends with a tight labour market. “It’s a challenge,” said CEO Eric La Fleche, during a conference call with analysts after the company released its fourth-quarter results. “I suspect it’s a challenge for everybody in ... Read More »

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CN Rail strike and lack of trucking alternatives stoke forest industry fears

By The Canadian Press on November 20th, 2019

CALGARY – The Forest Products Association of Canada says a chronic shortage of truck drivers is compounding concerns about the impact of a strike at Canadian National Railway Co. CEO Derek Nighbor says the strike could have a “devastating economic impact” on his industry, which is already reeling from a downturn that resulted in about ... Read More »

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Encana CEO defends plan to move HQ to Denver after investor criticism

By The Canadian Press on November 20th, 2019

CALGARY – The CEO of Encana Corp. is firing back after Canadian investment manager Letko, Brosseau & Associates Inc. said it would vote its four per cent stake against the Calgary-based company’s planned headquarters move to Denver. Doug Suttles, a Texan who lives in Denver, says the company is “disappointed” by the investor’s stance against ... Read More »

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Metro Inc. ends fiscal year with Q4 profit rising 15.4 per cent on higher sales

By The Canadian Press on November 20th, 2019

MONTREAL – Metro Inc. ended its fiscal year with net earnings rising 15.4 per cent to $167.4 million in the fourth quarter on higher revenues. The Montreal-based grocery and pharmacy chain says it earned 66 cents per diluted share for the period ended Sept. 28, up from 56 cents per share or $145 million a ... Read More »

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Energy stocks help lift Toronto stock index, materials and finance slip

By The Canadian Press on November 20th, 2019

TORONTO – Canada’s main stock index was up slightly in late-morning trading as energy and cannabis stocks rose while financial and materials stocks dipped. The S&P/TSX composite index was up 11.94 points at 17,023.34. In New York, the Dow Jones industrial average was down 87.43 points at 27,846.59. The S&P 500 index was down 4.01 ... Read More »

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Pembina Pipeline deal with Kinder Morgan cleared by Competition Bureau

By The Canadian Press on November 20th, 2019

CALGARY – Pembina Pipeline Corp. says the Canadian Competition Bureau has signed off on its $4.3-billion deal to buy assets from Kinder Morgan Inc. The Calgary-based company says the receipt of the “no-action letter” from the bureau clears the final regulatory hurdle for the deal to go through. Pembina announced in August that it would ... Read More »

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Lowe’s says it will close 34 “underperforming” stores across six provinces

By The Canadian Press on November 20th, 2019

BOUCHERVILLE, Que. – Lowe’s Companies Inc. said Wednesday it will close 34 “underperforming” stores across six provinces as part of a restructuring of its Canadian business. The stores include 26 Ronas, six Lowe’s and two Reno-Depots spread across British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and Nova Scotia. “Closing underperforming stores is a necessary step in ... Read More »

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Here’s a list October inflation rates for Canadian provinces, territories

By The Canadian Press on November 20th, 2019

OTTAWA – Canada’s national annual inflation rate was 1.9 per cent in October, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets): – Newfoundland and Labrador: 0.5 per cent (0.5) – Prince Edward Island: 1.1 (1.6) – Nova Scotia: 1.0 (2.1) – New Brunswick: 1.3 (1.8) – Quebec: 2.3 (2.2) – ... Read More »

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Here’s a list of October inflation rates for selected Canadian cities

By The Canadian Press on November 20th, 2019

OTTAWA – Canada’s national annual inflation rate was 1.9 per cent in October, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets): – St. John’s, N.L.: 0.4 per cent (0.4) – Charlottetown-Summerside: 1.1 ... Read More »

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