Business
Mars, maker of M&M’s and Snickers, to buy Cheez-It owner Kellanova for nearly $30 billion
By Michelle Chapman, The Associated Press on August 14th, 2024
Mars, whose brands include M&M’s, Snickers and Skittles, is buying food company Kellanova in a deal worth nearly $30 billion, giving it access to a huge portfolio of consumer brands from Cheez-Its to Pop-Tarts. Kellanova was created when the Kellogg Co., which was formed in 1906, split into three companies. Kellanova, based in Chicago, houses ... Read More »
Be the first to comment!District of West Vancouver, B.C., passes zoning changes, falls in line with province
By The Canadian Press on August 13th, 2024
VANCOUVER – Councillors in the District of West Vancouver, B.C., have narrowly voted in favour of getting onboard with provincial legislation requiring communities to allow multi-unit housing on lots that have previously been zoned for single-family homes. The district, which includes some of British Columbia’s most expensive properties, had initially rejected the provincial legislation aimed ... Read More »
Be the first to comment!Chorus Aviation reports $180.6-million loss in second quarter
By The Canadian Press on August 13th, 2024
HALIFAX – Chorus Aviation Inc. says it lost $180.6 million in its second quarter, down from profits of $20.3 million during the same quarter last year. The Halifax-based company says the results include a previously disclosed $187 million impairment on discontinued operations. Operating revenues for the quarter ended June 30 were $351.2 million, up from ... Read More »
Be the first to comment!Cargojet reports $25-million loss in second quarter, revenues rise
By The Canadian Press on August 13th, 2024
MISSISSAUGA, Ont. – Cargojet Inc. reported a $25-million loss in the second quarter, down from a profit of $31.1 million a year earlier. The Mississauga-based air freight and plane leasing company says its revenues totalled $230.8 million, up from $209.7 million during the same quarter last year. Loss per diluted share was $1.53, down from ... Read More »
Be the first to comment!Jasper council told wildfire caused $283 million in lost property value
By The Canadian Press on August 13th, 2024
JASPER, ALBERTA, CANADA – The town of Jasper says early numbers indicate last month’s wildfires destroyed $283 million worth of property. The town also reports that while 358 structures were destroyed, mostly businesses and homes, the total number of housing units lost is about 800. The figures were delivered to councillors by chief administrative officer ... Read More »
Be the first to comment!CAE profits fall as supply-chain headwinds persist
By The Canadian Press on August 13th, 2024
MONTREAL – CAE Inc. is reporting a big drop in profits for its latest quarter as the company grapples with supply-chain constraints. The flight simulator maker says net income attributable to shareholders fell 26 per cent to $48.3 million in the quarter ended June 30 from $65.3 million in the same period a year earlier. ... Read More »
Be the first to comment!AutoCanada announces cybersecurity breach, earnings hit by previous incident
By The Canadian Press on August 13th, 2024
EDMONTON – AutoCanada Inc. says it has found a cybersecurity breach of its systems that could disrupt operations as it also reported a financial loss for the second quarter because of a separate cybersecurity incident. The Edmonton-based dealership network says it is still working to understand the extent of the breach, which occurred on Aug. ... Read More »
Be the first to comment!Nova Scotia urged to address ‘pathways’ that lead people to losing their homes
By Lyndsay Armstrong, The Canadian Press on August 13th, 2024
HALIFAX – One major step that Nova Scotia can take to reduce homelessness is by addressing the “pathways” that lead vulnerable people to end up on the street, the head of a shelter for women and children said Tuesday. Fixed-term leases and so-called “renovictions” are two of those pathways, Sheri Lecker, executive director of Adsum ... Read More »
Be the first to comment!CP NewsAlert: Jasper council told wildfire caused $283 million in lost property value
By The Canadian Press on August 13th, 2024
JASPER, ALTA. – The chief administrative officer of Jasper, Alta., says initial estimates indicate $283 million in lost property value from last month’s wildfires. More coming... Read More »
Be the first to comment!S&P/TSX composite up almost one per cent Tuesday, U.S. stock markets also higher
By The Canadian Press on August 13th, 2024
TORONTO – Canada’s main stock index gained almost one per cent on Tuesday, boosted by financial and technology stocks, while U.S. stock markets also climbed higher, led by a 2.4-per-cent gain on the Nasdaq. The S&P/TSX composite index closed up 219.25 points at 22,618.18. In New York, the Dow Jones industrial average was up 408.63 ... Read More »
Be the first to comment!Stock market today: Wall Street rallies after passing the first of several tests set for this week
By Stan Choe, The Associated Press on August 13th, 2024
NEW YORK (AP) – U.S. stocks rose to one of their best days of the year as Wall Street relaxed after the first of several highly anticipated reports on the economy this week came in better than expected. The S&P 500 rallied 1.7% Tuesday after the government reported inflation at the wholesale level slowed last ... Read More »
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