Business
Metro reports lower profits while sales rise 3.5% amid continued discount shift
By Rosa Saba, The Canadian Press on August 14th, 2024
Metro Inc.’s chief executive says despite increasing competition in the discount grocery space, he thinks the retailer is well positioned to continue meeting demand for lower prices while also setting its conventional banners up for success. “Clearly, there’s been a little more pressure on conventional these last couple of years with this shift, but we ... Read More »
Be the first to comment!Cargojet foresees ‘much stronger’ second half of year as e-commerce sales rise
By The Canadian Press on August 14th, 2024
MISSISSAUGA, Ont. – The co-CEO of Cargojet Inc. says rising e-commerce demand will fuel major business gains in the second half of the year after boosting revenues in its latest quarter. Jamie Porteous, co-chief executive officer at the air freight company, told analysts today that the remainder of 2024 will be “much stronger” than the ... Read More »
Be the first to comment!Rogers says Corus’ business model ‘broken’ after being accused of ‘predatory’ action
By The Canadian Press on August 14th, 2024
OTTAWA – Corus Entertainment Inc. has filed a complaint with Canada’s broadcasting regulator alleging Rogers Communications Inc. is “engaging in predatory behaviour” to suppress potential competition. In a July 26 letter to the CRTC, posted online in redacted form this week, Corus vice-president and associate general counsel Matt Thompson asks for regulatory intervention to prevent ... Read More »
Be the first to comment!Parkland Corp. faces lawsuit from top shareholder Simpson Oil
By The Canadian Press on August 14th, 2024
CALGARY – Parkland Corp.’s largest shareholder says it is taking legal action against the company in light of what it calls an attempt by Parkland to insulate its board of directors and CEOfrom accountability. Simpson Oil, which is based in the Cayman Islands, escalated its months-long dispute with Calgary-based Parkland onMonday. Simpson, which owns about ... Read More »
Be the first to comment!Scotiabank’s 1832 Asset Management cuts stake in Israeli arms manufacturer
By The Canadian Press on August 14th, 2024
TORONTO – Scotiabank’s 1832 Asset Management has further cut its holdings in Israeli arms manufacturer Elbit Systems Ltd. as the bank has faced calls to divest over the war in Gaza. 1832 Asset Management reported in its latest filings it had cut its stake by more than 40 per cent from the previous quarter to ... Read More »
Be the first to comment!Victoria Gold says it plans to oppose Yukon application for receiver
By The Canadian Press on August 14th, 2024
WHITEHORSE – The company that owns the gold mine where a failure led to a massive release of cyanide-contaminated ore says it plans to oppose an application by the Yukon government seeking the appointment of a receiver over the firm and its property. A statement from Victoria Gold says it has been served with an ... Read More »
Be the first to comment!CP NewsAlert: Victoria Gold says it plans to oppose Yukon application for receiver
By The Canadian Press on August 14th, 2024
WHITEHORSE – The company that owns the gold mine where a failure led to a massive release of cyanide-contaminated ore says it plans to oppose an application by the Yukon government seeking the appointment of a receiver over the firm and its property. A statement from Victoria Gold says it has been served with an ... Read More »
Be the first to comment!Annual US inflation falls to 3-year low, clearing the way for the Fed to begin cutting rates
By Christopher Rugaber, The Associated Press on August 14th, 2024
WASHINGTON (AP) – Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2% ... Read More »
Be the first to comment!CPP Investments earned one per cent return for Q1, net assets rise to $646.8B
By The Canadian Press on August 14th, 2024
TORONTO – Canada Pension Plan Investment Board says it earned a net return of 1.0 per cent in its first quarter, helped by its investments in public equities and across private asset classes. The pension fund manager finished the quarter ended June 30 with $646.8 billion in net assets, up from $632.3 billion at the ... Read More »
Be the first to comment!US inflation slowed again in July, clearing the way for the Fed to begin cutting rates
By Christopher Rugaber, The Associated Press on August 14th, 2024
WASHINGTON (AP) – Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday’s report from the Labor Department showed that consumer prices rose just 0.2% ... Read More »
Be the first to comment!Metro reports $296.2M Q3 profit, sales up 3.5% from year ago
By The Canadian Press on August 14th, 2024
MONTREAL – Metro Inc. says it earned a third-quarter profit of $296.2 million, down from $346.7 million in the same quarter last year, as its sales rose 3.5 per cent. The grocery and drugstore retailer says the profit amounted to $1.31 per diluted share for the quarter ended July 6, down from $1.49 per diluted ... Read More »
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