Business
Rail strike would take bite out of potash sales: Nutrien
By The Canadian Press on August 8th, 2024
SASKATOON – The world’s largest potash producer says its sales volumes for 2024 could take a hit if a possible strike by thousands of Canadian rail workers goes ahead this month. Nutrien Ltd. says it is “concerned” about the potential impact a strike could have on the company, its customers and the broader Canadian economy. ... Read More »
Be the first to comment!Union agrees in principle to Postmedia’s $1-million bid for Atlantic newspaper chain
By The Canadian Press on August 8th, 2024
HALIFAX – Postmedia’s $1-million bid to acquire Atlantic Canada’s largest newspaper chain will not be held up by the main union that represents workers at SaltWire Network Inc. and The Halifax Herald Ltd. A lawyer representing the court-appointed monitor overseeing insolvency proceedings for SaltWire and the The Halifax Herald confirmed that the Canadian arm of ... Read More »
Be the first to comment!Airfares could rise after Calgary hailstorm forces WestJet to cancel flights: expert
By The Canadian Press on August 8th, 2024
An aviation expert says airfares may go up in the immediate aftermath of a hailstorm that tore through Calgary on Monday evening, damaging WestJet planes and upending travel plans. Hailstones as big as golf balls pummelled the tarmac, forcing the Calgary-based airline to ground 10 per cent of its fleet for major repairs and inspections. ... Read More »
Be the first to comment!S&P/TSX composite up more than 300 points, U.S. stock markets also climb
By The Canadian Press on August 8th, 2024
TORONTO – Canada’s main stock index was up more than 300 points in late-morning trading, powered by a broad-based rally on the Toronto market, while U.S. stocks also surged higher. The S&P/TSX composite index was up 313.16 points at 22,194.11. In New York, the Dow Jones industrial average was up 579.04 points at 39,342.49. The ... Read More »
Be the first to comment!TC Energy CEO François Poirier to join CIBC board of directors
By The Canadian Press on August 8th, 2024
TORONTO – CIBC is adding TC Energy Corp. chief executive François Poirier to its board of directors. The major Canadian bank says Poirier will join its board effective Sept. 1. CIBC board chair Kate Stevenson says Poirier brings deep strategic expertise across key sectors in the North American economy. Before taking the top job at ... Read More »
Be the first to comment!Canadian Tire’s Q2 profit up even as consumers ‘tightened their belts considerably’
By Tara Deschamps, The Canadian Press on August 8th, 2024
TORONTO – The head of Canadian Tire Corp. Ltd. says indebted shoppers are cutting back on spending even more – and he doesn’t see that trend turning around quickly. Greg Hicks, president and chief executive of the housewares and sporting goods retailer, says consumers have “tightened their belts considerably” as the high cost of living ... Read More »
Be the first to comment!Can’t stomach the wild volatility in the market? Consider these hedging options
By Ian Bickis, The Canadian Press on August 8th, 2024
It’s always good to buy insurance before you need it, as some investors might be realizing these days. The sharp drop-off in markets earlier this weekadded to a more gradual recent decline that has put to the test just how well retail investor portfolios have hedge protection built in to soften the blow when stocks ... Read More »
Be the first to comment!Cascades reports $1M Q2 profit, down from $22M in same quarter last year
By The Canadian Press on August 8th, 2024
KINGSEY FALLS, Que. – Cascades Inc. reported its second-quarter profit fell compared with a year ago as its sales edged higher. The tissue paper and packaging maker says its net earnings amounted to $1 million or a penny per diluted share for the quarter, down from $22 million or 22 cents per diluted share a ... Read More »
Be the first to comment!Wall Street opens higher after a job market indicator improves and more companies report results
By Yuri Kageyama And Matt Ott, The Associated Press on August 8th, 2024
NEW YORK (AP) – Stocks are climbing on Wall Street after a better-than-expected report on the job market eased some worries about the economy. The S&P 500 was up 1% in early trading Thursday. The Dow Jones Industrial Average rose 213 points, or 0.6%, and the Nasdaq composite climbed 1.2%. Treasury yields climbed in the ... Read More »
Be the first to comment!Quebecor reports $206.6M Q2 net income, up from $171.3M a year ago
By The Canadian Press on August 8th, 2024
MONTREAL – Quebecor Inc. reported second-quarter net income of $206.6 million, up from $171.3 million a year ago as its revenue inched lower. The company says its profit amounted to 90 cents per diluted share for the quarter ended June 30 compared with a profit of 73 cents per share a year earlier. Revenue totalled ... Read More »
Be the first to comment!Fewer Americans file for jobless benefits last week, but applications remain slightly elevated
By Matt Ott, The Associated Press on August 8th, 2024
The number of Americans filing for jobless benefits fell last week but remain at slightly elevated though not troubling levels. Jobless claims for the week of Aug. 3 fell by 17,000 to 233,000 last week, the Labor Department reported Thursday. That’s fewer than the 240,000 analysts surveyed by FactSet were expecting. Weekly unemployment claims are ... Read More »
Be the first to comment!
