Business
Laurentian Bank reports $34.1M Q3 profit, down from $49.3M a year ago
By The Canadian Press on August 30th, 2024
MONTREAL – Laurentian Bank of Canada says it earned $34.1 million in its third quarter, down from $49.3 million in the same quarter last year. The Montreal-based bank says the profit amounted to 67 cents per diluted share for the quarter ended July 31 compared with a profit of $1.03 per diluted share a year ... Read More »
Be the first to comment!Inflation fell to 2.2% in Europe, clearing the way for a European Central Bank rate cut in September
By David Mchugh, The Associated Press on August 30th, 2024
FRANKFURT, Germany (AP) – Inflation in the 20 European Union countries that use the euro fell sharply to 2.2% in August, opening the door for the European Central Bank to cut interest rates as the ECB and the U.S. Federal Reserve prepare to lower borrowing costs to support growth and jobs. The August figure was ... Read More »
Be the first to comment!Ottawa’s move to end rail shutdown prompts debate over workers’ rights
By Christopher Reynolds, The Canadian Press on August 30th, 2024
MONTREAL – Workers’ rights are once again under the microscope after last week’s massive railway work stoppage was abruptly halted when the federal government intervened less than 17 hours after the shutdown began. Ottawa’s decision to step in, particularly after Labour Minister Steven MacKinnon repeatedly stressed the benefits of deals hashed out at the negotiating ... Read More »
Be the first to comment!Statistics Canada to release second quarter GDP report today
By The Canadian Press on August 30th, 2024
OTTAWA – Statistics Canada is set to release its gross domestic product report for the second quarter this morning. RBC says it expects the economy grew at an annualized rate of 1.4 per cent in Q2. That’s below Statistics Canada’s preliminary estimate of two per cent. RBC says it expects the report to show the ... Read More »
Be the first to comment!Cash-strapped parents seek back-to-school deals as years of inflation take a toll
By Tara Deschamps, The Canadian Press on August 30th, 2024
TORONTO – When August rolled around, April Hicke realized the $100 she typically gives her 13-year-old son to update his wardrobe in time for school to start was no longer enough. “Even on the sale racks, a pair of sweatpants at SportChek, they’re still $25 a pair. You used to be able to go and ... Read More »
Be the first to comment!Yukon First Nation fears exclusion from mine disaster review, seeks public inquiry
By The Canadian Press on August 29th, 2024
Yukon’s Na-Cho Nyak Dun First Nation says an independent review of a disaster at the Eagle Gold mine on its territory is urgently needed but it has serious concerns the Yukon government is trying to “erase” its role in the probe. The First Nation says in a letter to deputy mining minister Lauren Haney that ... Read More »
Be the first to comment!Calgarians fail to meet water reduction targets for third consecutive day
By The Canadian Press on August 29th, 2024
CALGARY – Calgarians missed the mark for the third day in a row in the latest round of water rationing, and officials say it appears many residents are ignoring the ban by continuing to water their lawns. “This morning, our education teams were out in the community working on the ground to ensure that Calgarians ... Read More »
Be the first to comment!Lululemon cuts full-year outlook amid struggle with ‘newness’ in its womenswear
By Tara Deschamps, The Canadian Press on August 29th, 2024
Lululemon Athletica Inc. cut its full-year outlook Thursday as its CEO admitted the company has grappled with some “missed opportunities” in its womenswear business. The Vancouver-based apparel company’s new guidance shows it expects to end the fiscal year with net revenue between US$10.3 and US$10.4 billion, down from its prior forecast that ranged between $10.7 ... Read More »
Be the first to comment!B.C. revamps building code to allow single stairwells in buildings up to six storeys
By The Canadian Press on August 29th, 2024
VICTORIA – British Columbia is moving to allow buildings up to six storeys to have one exit stairwell instead of two in the government’s latest effort to boost housing supply. Housing Minister Ravi Kahlon says in a statement that updating the provincial building code to remove the requirement for a second egress or exit stairwell ... Read More »
Be the first to comment!Lululemon sees US$392.9M in net income in Q2, net revenue also up
By The Canadian Press on August 29th, 2024
VANCOUVER – Lululemon Athletic Inc. says its net income reached US$392.9 million in its second quarter as net revenue climbed. The Vancouver-based apparel company says its second-quarter net income was up from US$341.6 million a year prior. Net revenue for the company, which keeps its books in U.S. dollars, totalled US$2.4 billion during the period ... Read More »
Be the first to comment!S&P/TSX composite up 100 points, U.S. stock markets mixed after Nvidia earnings
By The Canadian Press on August 29th, 2024
TORONTO – Canada’s main stock index gained 100 points Thursday, led by gains in energy, technology and financials, while U.S. stock markets fizzled to a mixed close. The S&P/TSX composite index closed up 100.51 points at 23,227.49. In New York, the Dow Jones industrial average was up 243.63 points at 41,335.05. The S&P 500 index ... Read More »
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