Business
Cenovus hits debt reduction target, but pledges no change in strategy
By Amanda Stephenson, The Canadian Press on August 1st, 2024
CALGARY – The CEO of Cenovus Energy Inc. said the company’s recent debt repayment milestone will not mean changes to its near-term strategy. Jon McKenzie said on a conference call Thursday that market-watchers should not expect the Calgary-based oil company to embark on a mergers and acquisitions spree or change its strategy in any other ... Read More »
Be the first to comment!Lightspeed Commerce sees net loss shrink in founder’s first full quarter back as CEO
By Tara Deschamps, The Canadian Press on August 1st, 2024
Dax Dasilva’s first full quarter back at the helm of Lightspeed Commerce Inc. coincided with the business narrowing its net loss and seeing its revenue climb. The Montreal-based payments technology company revealed Thursday that it recorded a net loss of US$35 million in its first quarter compared with a net loss of US$48.7 million for ... Read More »
Be the first to comment!Gildan says proxy battle cost US$57 million in Q2 as Glenn Chamandy returns to helm
By Rosa Saba, The Canadian Press on August 1st, 2024
MONTREAL – As Gildan Activewear Inc. gears up for its 40th anniversary, the Montreal-based company is ready to put a recent leadership battle in the rearview mirror. Glenn Chamandy was reinstated as CEO in May after a months-long public struggle pitting several major shareholders against the company’s board, which terminated the co-founder last year. That ... Read More »
Be the first to comment!Canada Goose CEO sees eyewear and luggage as ‘natural extensions’ for brand
By Tara Deschamps, The Canadian Press on August 1st, 2024
TORONTO – When Dani Reiss took over his family’s business, Canada Goose Holdings Inc., in 2001, it had a reputation for clothing made for those needing to brave the coldest of colds. More than two decades later, the Toronto-based company has evolved into a luxury powerhouse selling everything from sneakers to windwear. Next on Reiss’s ... Read More »
Be the first to comment!S&P/TSX composite drops in late-morning trading Thursday, U.S. markets also fall
By The Canadian Press on August 1st, 2024
TORONTO – Canada’s main stock index wiped out its gains from the day before in late-morning trading Thursday, declining 1.6 per cent with most major sectors down, while U.S. markets also fell. The S&P/TSX composite index was down 366.30 points at 22,744.51. In New York, the Dow Jones industrial average was down 473.45 points at ... Read More »
Be the first to comment!TC Energy eyes data centre growth as potential opportunity
By Amanda Stephenson, The Canadian Press on August 1st, 2024
CALGARY – TC Energy Corp. is eyeing the rapid proliferation of data centres in North America as a business opportunity. The Calgary-based pipeline company said Thursday it is uniquely poised to capitalize on the rapid expansion of electricity-hungry data centres, which are being built by companies like Microsoft, Google, and Amazon to power the AI ... Read More »
Be the first to comment!Lightspeed Commerce reports US$35 million Q1 loss
By The Canadian Press on August 1st, 2024
MONTREAL – Lightspeed Commerce Inc. says it narrowed its net loss in its first quarter compared with last year as revenues rose. The payments platform provider says it had a net loss of US$35 million for the quarter ending June 30 compared with a net loss of US$48.7 million for the same quarter last year. ... Read More »
Be the first to comment!Before agreeing to a seasonal layoff, know the risks, experts say
By Ritika Dubey, The Canadian Press on August 1st, 2024
Workers in industries that experience typical slow periods during the year might be faced with a seasonal layoff from their employer. But experts say workers should know the risks before signing up to be laid off temporarily. “The idea is that the relationship is going to resume,” said Brittany Taylor, an employment lawyer and partner ... Read More »
Be the first to comment!BCE reports profit boost after wave of job cuts
By Christopher Reynolds, The Canadian Press on August 1st, 2024
BCE Inc. boosted its profits despite a dip in revenue last quarter as the telecoms giant began to feel the financial effect of thousands of job cuts from earlier this year. Earnings attributable to shareholders jumped 63 per cent year-over-year to $537 million in the company’s second quarter. The higher profits resulted from lower expenses, ... Read More »
Be the first to comment!Gildan says proxy battle cost US$57 million in Q2
By The Canadian Press on August 1st, 2024
MONTREAL – Gildan Activewear Inc. says costs related to the leadership struggle at the company cost it US$57.2 million in the second quarter. The costs helped push down earnings to US$58.4 million for the quarter from US$155.3 million for the same quarter last year. The Montreal-based company, which reports in U.S. dollars, saw a protracted ... Read More »
Be the first to comment!Canadian Natural reports earnings of $1.72 billion in second quarter
By The Canadian Press on August 1st, 2024
CALGARY – Canadian Natural Resources Ltd. says earnings were up in the second quarter in part because of higher oil sales and prices. The Calgary-based oil and gas producer says earnings were $1.72 billion for the quarter ending June 30, up from $1.46 billion for the same quarter last year. Earnings worked out to 80 ... Read More »
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