Business
Strike over at CN Autoport facility in Nova Scotia after Unifor ratifies agreement
By The Canadian Press on April 3rd, 2024
HALIFAX – A weeks-long strike at a transshipment facility near Halifax is over after union members ratified a three-year collective agreement. More than 230 unionized workers at the CN Autoport facility in Eastern Passage, N.S., walked off the job in late February. Unifor says each year of the agreement will see wage increases, with lump-sum ... Read More »
Be the first to comment!Trans Mountain pipeline expansion to enter commercial service May 1
By The Canadian Press on April 3rd, 2024
CALGARY – The Trans Mountain oil pipeline expansion will go into commercial service on May 1. The Crown corporation behind the project, which will increase the existing pipeline’s capacity by 590,000 barrels per day to a total of 890,000 barrels per day, provided the start date in an update Wednesday. Trans Mountain Corp. says it ... Read More »
Be the first to comment!RBC becomes bigger bank, and bigger target, as it closes HSBC Canada deal
By Ian Bickis, The Canadian Press on April 3rd, 2024
TORONTO – Royal Bank of Canada has reinforced its status as Canada’s biggest companyafter successfully navigating its takeover of HSBC Canada, making it an even bigger target for critics. The bank is now worth about $193 billion, some $50 billion ahead of second-place TD Bank, after RBC saw a roughly 24 per cent rebound in ... Read More »
Be the first to comment!BlackBerry reports US$56 million loss in Q4, revenue hits US$173M
By The Canadian Press on April 3rd, 2024
WATERLOO, Australia – BlackBerry Ltd. says it lost US$56 million in its latest quarter, compared with a loss of US$495 million a year ago. The Waterloo, Ont.-based technology company, which reports its earnings in U.S. dollars, says the fourth-quarter loss amounts to 10 cents US per diluted share compared with a loss of 85 cents ... Read More »
Be the first to comment!RBC cements dominant status as it closes HSBC Canada takeover
By Ian Bickis, The Canadian Press on April 3rd, 2024
TORONTO – Royal Bank of Canada has reinforced its status as Canada’s biggest companyafter successfully navigating its takeover of HSBC Canada, making it an even bigger target for critics. The bank is now worth about $193 billion, some $50 billion ahead of second-place TD Bank, after RBC saw a roughly 24 per cent rebound in ... Read More »
Be the first to comment!BC Hydro wants more clean power to help meet demand, clean energy targets
By The Canadian Press on April 3rd, 2024
VICTORIA – BC Hydro is looking for more clean power to add to its grids as electricity demands are expected to increase by 15 per cent in the next six years. The Ministry of Energy, Mines and Low Carbon Innovation says the Crown power utility has issued its first call in 15 years and is ... Read More »
Be the first to comment!S&P/TSX composite ticks higher Wednesday, U.S. stock markets mixed
By The Canadian Press on April 3rd, 2024
TORONTO – Strength in energy and base metal stocks helped lift Canada’s main stock index on Wednesday, while U.S. stock markets were mixed but held relatively steady after two straight days of losses. The S&P/TSX composite index closed up 37.36 points at 22,112.46. In New York, the Dow Jones industrial average was down 43.10 points ... Read More »
Be the first to comment!Stock market today: Wall Street edges higher following its worst day in weeks
By Stan Choe, The Associated Press on April 3rd, 2024
NEW YORK (AP) – Stocks closed mostly higher, as Wall Street steadied itself following its worst day in weeks. The S&P 500 rose 0.1% Wednesday, clawing back a bit of its loss from the prior day. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite added 0.2%. Treasury yields eased after a report ... Read More »
Be the first to comment!Amid opposition, Northvolt forging ahead to open Quebec battery factory by 2026
By Stéphane Blais, The Canadian Press on April 3rd, 2024
MONTREAL – Swedish manufacturer Northvolt says it’s forging ahead with plans to open an electrial vehicle battery megaplant near Montreal by 2026, despite a tight timeline and opposition from environmental groups. The company’s North American CEO said today that the company still has to get about a dozen different authorizations to complete construction on the ... Read More »
Be the first to comment!BlackBerry CEO sexually harassed senior employee, lawsuit claims
By Tara Deschamps, The Canadian Press on April 3rd, 2024
A former BlackBerry Ltd. employee has filed a lawsuit against the company and its new chief executive John Giamatteo, who she claims sexually harassed her and then retaliated against her after she reported the behaviour. The complainant, a California-based woman of colour who worked for the Waterloo, Ont.-based tech company for more than a decade, ... Read More »
Be the first to comment!RBC agrees to disclose key climate metric on energy funding
By The Canadian Press on April 3rd, 2024
TORONTO – RBC says it plans to disclose a key climate metric that the New York City Comptroller has been pushing it to adopt. Chief executive Dave McKay says in an interview that the bank plans to disclose the ratio of how its clean energy funding compares with its fossil fuel financing in its next ... Read More »
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