Business
Ford Motor Co. delays start of EV production at Oakville, Ont., plant until 2027
By The Canadian Press on April 4th, 2024
TORONTO – Ford Motor Co. is delaying the start of electric vehicle production at its plant in Oakville, Ont., to 2027. The U.S. automaker had planned to start production in 2025 at the Canadian plant which employs 2,700 workers. Ford announced plans last year to spend $1.8 billion to transform its Oakville assembly plant into ... Read More »
Be the first to comment!US applications for unemployment benefits rise, but layoffs remain at historically low levels
By Matt Ott, The Associated Press on April 4th, 2024
The number of Americans applying for jobless benefits rose last week but layoffs remain at historically low levels as the labor market continues to chug along despite elevated interest rates. The Labor Department reported Thursday that filings for unemployment claims for the week ending March 30 climbed by 9,000 to 221,000 from the previous week’s ... Read More »
Be the first to comment!Dollarama reports Q4 profit and sales up from year ago, raises quarterly dividend
By The Canadian Press on April 4th, 2024
MONTREAL – Dollarama Inc. raised its quarterly dividend by nearly 30 per cent as it reported its fourth-quarter profit and sales rose compared with a year ago. The retailer says it will now pay a quarterly dividend of 9.2 cents per share, up from 7.08 cents per share. The increased payment to shareholders came as ... Read More »
Be the first to comment!Why climate change on the farm means a big bill for Canadian taxpayers
By Amanda Stephenson, The Canadian Press on April 4th, 2024
CALGARY – To get an idea of the financial toll extreme weather is taking on this country’s agriculture industry, look no further than the government of Saskatchewan’s books. The prairie province had forecast a more than $1 billion surplus for the fiscal year ending March 31, 2024, but fresh budget documents released last month show ... Read More »
Be the first to comment!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 »
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