Business
Sleep Country earnings rise as direct-to-consumer brands help buffer softer spending
By The Canadian Press on August 8th, 2024
TORONTO – Sleep Country Canada Holdings Inc. says it earned $15.8 million in its second quarter, up from $12.7 million a year earlier. The Toronto-based company says its revenues for the quarter were $232.5 million, up from $217.2 million during the second quarter of 2023. Diluted earnings per share were 46 cents, up from 36 ... Read More »
Be the first to comment!Pembina Pipeline earns $479 million in second quarter, ups full-year forecast
By The Canadian Press on August 8th, 2024
CALGARY – Pembina Pipeline Corp. says it earned $479 million in its second quarter of this year, a 32-per-cent increase over the same period in 2023. The Calgary-based pipeline company says its earnings work out to 75 cents per common share, compared to 60 cents in the second quarter of 2023. Pembina’s revenue increased to ... Read More »
Be the first to comment!Fares could rise after Calgary hailstorm forces airlines to cancel flights: experts
By Christopher Reynolds, The Canadian Press on August 8th, 2024
Experts say airfares may go up in the immediate aftermath of a hailstorm that tore through Calgary on Monday evening, damaging planes at WestJet and Flair Airlines and upending travel plans for thousands of passengers. Hailstones as big as golf balls pummelled the airport tarmac, forcing both airlines to ground 10 per cent of their ... Read More »
Be the first to comment!Linamar reports earnings rise to $174.1 million, CEO to become executive board chair
By The Canadian Press on August 8th, 2024
GUELPH, Ont. – Manufacturer Linamar Corp. says its earnings and revenue rose during the last quarter that longtime CEO Linda Hasenfratz will serve in the top role. The company announced alongside its second quarter results that Hasenfratz has shifted from the chief executive position she’s held since 2002 to become executive chair of the board. ... Read More »
Be the first to comment!Halifax developing code of conduct for residents of designated homeless encampments
By Lyndsay Armstrong, The Canadian Press on August 8th, 2024
Halifax Regional Municipality is developing a code of conduct for people sleeping rough at city-designated homeless encampments, many of which are growing far beyond their stated capacity. The municipality declined Thursday to provide details about the code or what prompted it, but council meetings have recently heard about safety concerns inside homeless encampments, and there ... Read More »
Be the first to comment!Fight brewing at CRTC over first Online News Act payment by Google
By The Canadian Press on August 8th, 2024
OTTAWA – A new fight is playing out at the Canadian Radio-television and Telecommunications Commission over the first $100-million annual payment Google agreed to pay Canadian news outlets. The group tasked by Google to distribute the money to news outlets has submitted plans for its governance structure to the CRTC. If the regulator is satisfied ... Read More »
Be the first to comment!S&P/TSX composite up almost 350 points, U.S. stock markets also rally
By The Canadian Press on August 8th, 2024
TORONTO – Canada’s main stock index rose almost 350 points Thursday, powered by a broad-based rally on the Toronto market, while U.S. stocks also surged higher. The S&P/TSX composite index closed up 344.66 points at 22,225.61. In New York, the Dow Jones industrial average was up 683.04 points at 39,446.49. The S&P 500 index was ... Read More »
Be the first to comment!Wall Street rallies to its best day since 2022 on encouraging unemployment data; S&P 500 jumps 2.3%
By Stan Choe, The Associated Press on August 8th, 2024
NEW YORK (AP) – U.S. stocks rallied Thursday in Wall Street’s latest sharp swerve after a better-than-expected report on unemployment eased worries about the slowing economy. The S&P 500 jumped 2.3% for its best day since 2022. The Dow Jones Industrial Average rose 683 points, or 1.8%, and the Nasdaq composite climbed 2.9% as Nvidia ... Read More »
Be the first to comment!US jury convicts Mozambique’s ex-finance minister Manuel Chang in ‘tuna bonds’ corruption case
By Jennifer Peltz, The Associated Press on August 8th, 2024
NEW YORK (AP) – Former Mozambican Finance Minister Manuel Chang was convicted Thursday in a bribe conspiracy case that welled up from from his country’s ” tuna bond “ scandal and swept into a U.S. court. A federal jury in New York delivered the verdict. Chang was accused of accepting payoffs to put his African ... Read More »
Be the first to comment!Wall Street has best day since 2022 after an encouraging update on US job market; S&P 500 up 2.3%
By Stan Choe, The Associated Press on August 8th, 2024
NEW YORK (AP) – U.S. stocks rallied to their best day since 2022 following an encouraging update on the job market. The S&P 500 jumped 2.3%, continuing a roller-coaster ride for the market in recent days. The Dow Jones Industrial Average added 1.8%, and the Nasdaq composite gained 2.9%. Treasury yields also climbed in the ... Read More »
Be the first to comment!Ottawa, facing financial crisis, pleads for ‘fairness’ from province and feds: mayor
By The Canadian Press on August 8th, 2024
Ottawa Mayor Mark Sutcliffe says the city is facing a “financial crisis” that raises the spectre of tax hikes and service cuts, alleging the city has been treated unfairly on issues of taxes and transit by the federal and provincial governments. In a press conference Thursday, Sutcliffe called it an issue of “fairness, pure and ... Read More »
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