October 24th, 2020

Business

S&P/TSX composite down in late-morning trading, U.S. stock markets mixed

By The Canadian Press on October 22nd, 2020

TORONTO – Canada’s main stock index was down in late-morning trading amid losses in the technology, utility and mining sectors, while U.S. stock markets were mixed. The S&P/TSX composite index was down 9.95 points at 16,220.28. In New York, the Dow Jones industrial average was up 13.82 points at 28,224.64. The S&P 500 index was ... Read More »

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Coca-Cola recovery continues as it grows leaner in pandemic

By Dee-Ann Durbin, The Associated Press on October 22nd, 2020

Coca-Cola measured gradual improvement in the third quarter as it focused on emerging leaner from the global pandemic. Revenue fell 9% to $8.7 billion, topping Wall Street expectations of $8.4 billion, according to analysts polled by FactSet. It was far better than the 28% drop in revenue in the second quarter. Net income was $1.7 ... Read More »

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Rogers Communications shares up after Q3 results top expectations

By David Paddon, The Canadian Press on October 22nd, 2020

TORONTO – Rogers Communications Inc.’s third-quarter profit and revenue fell compared with a year ago due to the COVID-19 pandemic, but the company beat analyst estimates after rebounding from the second quarter. The wireless, cable and media company said Thursday it earned $512 million or $1.01 per diluted share for the quarter ended Sept. 30. ... Read More »

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Make sure your home insurance covers renovation risks, experts advise

By Dan Healing, The Canadian Press on October 22nd, 2020

CALGARY – Homeowners across the country are spending big bucks to upgrade or enlarge their homes as the reality sinks in that many workers won’t be heading back to the office any time soon due to the ongoing COVID-19 pandemic. However, any renovation plan that doesn’t include a thorough review of one’s home insurance policy ... Read More »

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North American stock markets up in early trading, Rogers helps fuel gains in Toronto

By The Canadian Press on October 22nd, 2020

TORONTO – Canada’s main stock index was up in early trading, fuelled by gains in the telecom sector after Rogers Communications reported better-than-expected results for the third quarter and its shares popped higher. The S&P/TSX composite index was up 37.61 points at 16,267.84. In New York, the Dow Jones industrial average was up 20.82 points ... Read More »

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Law to shield businesses that spread COVID-19 could benefit insurers, limit consumers

By Anita Balakrishnan, The Canadian Press on October 22nd, 2020

TORONTO – A new bill in Ontario could make it harder for consumers to sue a business that was involved in the transmission of COVID-19, lawyers say. Bill 218, which Ontario Attorney General Doug Downey has dubbed the Supporting Ontario’s Recovery Act, proposes protecting people from legal action if they made a “good faith effort” ... Read More »

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Sun Life Financial buying majority stake in U.S. investment manager Crescent Capital

By The Canadian Press on October 22nd, 2020

TORONTO – Sun Life Financial Inc. has signed a deal to acquire a majority stake in Crescent Capital Group LP in an agreement worth up to $450 million. Under the deal, Sun Life will acquire a 51 per cent stake in the alternative credit investment manager for an upfront payment of $370 million and up ... Read More »

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Corus Entertainment reports Q4 profit up from year ago, revenue down

By The Canadian Press on October 22nd, 2020

TORONTO – Television and radio broadcaster Corus Entertainment Inc. reported its fourth-quarter profit rose compared with a year ago, even as its revenue fell. The company, which includes Global Television, says it earned $30.3 million in net income attributable to shareholders or 15 cents per diluted share for the quarter ended Aug. 31. That compared ... Read More »

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Rogers Communications Q3 revenue and profit down from year ago, but top expectations

By The Canadian Press on October 22nd, 2020

TORONTO – Rogers Communications Inc. beat expectations even as it reported its third-quarter profit and revenue fell compared with a year ago. The cable and wireless company says it earned $512 million or $1.01 per diluted share for the quarter ended Sept. 30, compared with a profit of $593 million or $1.14 per diluted share ... Read More »

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Precision Drilling reports $28.5M Q3 loss, revenue down 56% from year ago

By The Canadian Press on October 22nd, 2020

CALGARY – Precision Drilling Corp. says it lost $28.5 million in its latest quarter as revenue fell 56 per cent compared with a year ago. The Calgary-based oilfield services company says the loss amounted to 10 cents per diluted share for the quarter ended Sept. 30. The result compared with a loss of $3.5 million ... Read More »

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