Business
RioCan in no rush to build even as interest rates drop, CEO says
By The Canadian Press on August 9th, 2024
TORONTO – RioCan Real Estate Investment Trust chief executive Jonathan Gitlin says it will take more than just interest rates dipping lower for the company to start new major developments. He says while lower rates help, the company has to weigh the spending equation against other options like paying down debt, buying back shares or ... Read More »
Be the first to comment!Calgary mayor says city considering replacing water pipe that ruptured
By The Canadian Press on August 9th, 2024
Calgary’s mayor says the city is considering ways to strengthen a key water main for the long term, including replacing it altogether. Jyoti Gondek says in the spring the city could add a liner or a sleeve to the pipe to strengthen it, or dig alongside it and built an entirely new one. The pipe ... Read More »
Be the first to comment!Cineplex CEO sees ‘pivotal change’ after Hollywood strikes trigger a Q2 loss
By Tara Deschamps, The Canadian Press on August 9th, 2024
TORONTO – Cineplex Inc. continued to feel the impacts of twin Hollywood strikes in its second quarter, but the end of the period marked a turning point. Ellis Jacob, the Toronto-based cinema chain’s chief executive, said Friday that the box office picked up in June and July as “Inside Out 2,” “Deadpool & Wolverine,” “Twisters,” ... Read More »
Be the first to comment!S&P/TSX composite up, while U.S. stock markets also rise at end of a volatile week
By The Canadian Press on August 9th, 2024
TORONTO – Canada’s main stock index moved higher in late-morning trading, helped by gains in base metal stocks, while U.S. stock markets also rose at the end of a volatile trading week. The S&P/TSX composite index was up 40.76 points at 22,266.37. In New York, the Dow Jones industrial average was up 46.81 points at ... Read More »
Be the first to comment!Poilievre calls for tariffs on Chinese-made EVs, solar panels, batteries and steel
By The Canadian Press on August 9th, 2024
OTTAWA – Conservative Leader Pierre Poilievre says he would impose big new import taxes on a host of Chinese-made goods including electric cars, solar panels and semiconductors if his party wins the next election. Poilievre made the announcement in Hamilton, standing in front of a few dozen employees at the city’s Stelco steel plant. Steel ... Read More »
Be the first to comment!AtkinsRéalis revs up nuclear business to seize on energy transition
By Christopher Reynolds, The Canadian Press on August 9th, 2024
MONTREAL – AtkinsRéalis Group Inc.’s nuclear business drove growth in earnings and backlog in its latest quarter, as the engineering firm continues to capitalize on the global energy transition. The nuclear division’s revenues leapt 41 per cent year-over-year to $358 million in the quarter ended June 30, while its order book ballooned 57 per cent ... Read More »
Be the first to comment!Tragically Hip documentary series set for world premiere at Toronto film festival
By The Canadian Press on August 9th, 2024
TORONTO – A four-part docuseries on The Tragically Hip and film shorts from Oscar-winner Torill Kove and actor Connor Jessup are among the homegrown additions to the Toronto International Film Festival. Organizers say the Primetime program includes the long-awaited world premiere of “The Tragically Hip: No Dress Rehearsal,” bound for Prime Video. Announced back in ... Read More »
Be the first to comment!Canopy Growth reports $127.1M Q1 loss, revenue down from year ago
By The Canadian Press on August 9th, 2024
SMITHS FALLS, Ont. – Canopy Growth Corp. posted a larger loss in its latest quarter compared with a year ago as its revenue declined. The cannabis producer says its loss attributable to the company amounted to $127.1 million or $1.60 per diluted share for the quarter ended June 30. The result compared with a loss ... Read More »
Be the first to comment!Students, recent immigrants hit hard by weakening job market, StatCan data suggests
By Nojoud Al Mallees, The Canadian Press on August 9th, 2024
OTTAWA – Students are facing a particularly challenging summer job market while recent immigrants are disproportionately affected by weakening labour market conditions in the country, Statistics Canada’s latest employment figures show. The federal agency’s July labour force survey released on Friday says the overall jobless rate held steady at 6.4 per cent last month as ... Read More »
Be the first to comment!Stocks are holding relatively steady at the tail end of a wild, whipsaw week for Wall Street
By Matt Ott, The Associated Press on August 9th, 2024
NEW YORK (AP) – U.S. stocks are holding relatively steady at the tail end of a wild, whipsaw week for Wall Street. The S&P 500 edged up 0.1% in early trading Friday, coming off its best day since 2022. After yo-yoing through several sharp swings, it’s on track to close a fourth straight losing week. ... Read More »
Be the first to comment!Algonquin Power signs deal to sell renewable energy business for up to US$2.5B
By The Canadian Press on August 9th, 2024
OAKVILLE, Ont. – Algonquin Power & Utilities Corp. says it has signed a deal to sell its renewable energy business to a subsidiary of LS Power for up to US$2.5 billion. Under the deal, which does not include Algonquin’s hydro business, LS Power will pay US$2.28 billion in cash at closing and up to US$220 ... Read More »
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